[ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake

[Papajager]

We're just doing a rough draft version of the technical whitepaper, and one of the developers mentioned that we should share some of the diagrams that explain our transaction model.  This image goes into depth as to how we plan on integrating the Ethereum Virtual Machine into Bitcoin Core and Proof-of-Stake 3.0

We'll follow up with a more detailed discussion of what this all means, but this post is just meant to be a snapshot of what we're working on:

We'll get Earlz to make an appearance with a more descriptive post later

http://imgur.com/a/XJ5Hk
http://s019.radikal.ru/i602/1701/8f/0e8a8c4f102f.jpg

[BTCspace]

We're just doing a rough draft version of the technical whitepaper, and one of the developers mentioned that we should share some of the diagrams that explain our transaction model.  This image goes into depth as to how we plan on integrating the Ethereum Virtual Machine into Bitcoin Core and Proof-of-Stake 3.0

We'll follow up with a more detailed discussion of what this all means, but this post is just meant to be a snapshot of what we're working on:

We'll get Earlz to make an appearance with a more descriptive post later

seems no image.. the link is broken.

[Qtum]

A quick documentation update, we are working on the English version of the whitepaper right now and we wanted to give a snapshot of our progress.  

Later this week we will have some press that talks about our goals, and a bit about our investors.

Here is a section 2 snapshot of the whitepaper, it discusses how we integrate the Ethereum Virtual Machine onto Bitcoin Core's UTXO model, while using Proof-of-Stake as the consensus protocol.

Here is a link where you can download the section, please keep in mind it was written by a developer and has not gone through a final edit:

https://qtum.org/QtumDraftSection24.pdf

Right now the PR team has been giving interviews to western media outlets, so when they run an article, we will post it here and on our blog.  

The signature campaign will start this week, we are just getting the banners designed and calculating the payment schedule.

[Raxitto]

A quick documentation update, we are working on the English version of the whitepaper right now and we wanted to give a snapshot of our progress.  

Later this week we will have some press that talks about our goals, and a bit about our investors.

Here is a section 2 snapshot of the whitepaper, it discusses how we integrate the Ethereum Virtual Machine onto Bitcoin Core's UTXO model, while using Proof-of-Stake as the consensus protocol.

Here is a link where you can download the section, please keep in mind it was written by a developer and has not gone through a final edit:

https://qtum.org/QtumDraftSection24.pdf

Right now the PR team has been giving interviews to western media outlets, so when they run an article, we will post it here and on our blog.  

The signature campaign will start this week, we are just getting the banners designed and calculating the payment schedule.

uauh.... i had a feeling, that great things would come out this project.... but it was just a feeling....
now with this update, i m even a bit mind blowed.... really cool concept and catchy for everybody.
you have my respect and my total interest..

[BTCspace]

A quick documentation update, we are working on the English version of the whitepaper right now and we wanted to give a snapshot of our progress.  

Later this week we will have some press that talks about our goals, and a bit about our investors.

Here is a section 2 snapshot of the whitepaper, it discusses how we integrate the Ethereum Virtual Machine onto Bitcoin Core's UTXO model, while using Proof-of-Stake as the consensus protocol.

Here is a link where you can download the section, please keep in mind it was written by a developer and has not gone through a final edit:

https://qtum.org/QtumDraftSection24.pdf

Right now the PR team has been giving interviews to western media outlets, so when they run an article, we will post it here and on our blog.  

The signature campaign will start this week, we are just getting the banners designed and calculating the payment schedule.

uauh.... i had a feeling, that great things would come out this project.... but it was just a feeling....
now with this update, i m even a bit mind blowed.... really cool concept and catchy for everybody.
you have my respect and my total interest..

same feeling with you..

there are 3 coins i like.. byteball/elastic XEL/ Qtum

[earlz]

Hi everyone, lead developer here. I'd like to give a brief summary of this section that was revealed, so that you don't have to read through the whole thing to figure out what we're doing. It is indeed a very rough draft also. 

Basically, we're taking Bitcoin Core 0.13, integrating the Ethereum Virtual Machine, and adding an "Account Abstraction Layer" so that existing Etheruem contracts will work on Qtum with minimal changes. The exact way we are integrating the EVM is by adding new Bitcoin Script opcodes, and adding special processing conditions so that when these EVM using transactions are added to the blockchain they are executed immediately (rather than only when attempting to be spent, as is normal).

Along with this, the account abstraction layer allows for contracts to only worry about balances and sending funds. This is a bit more complicated to explain without going into a lot of technical detail, but I'll try. Normally in UTXO based coins (such as Bitcoin of course), you can't just say "I want to send 20 coins to X", you say "I want to send this 10 coin output, and this 5 coin output, and this 8 coin output to X, and also send 3 coins back to Y, which is my wallet." This is called coin-picking, and is one of the reasons that smart contract implementations on top of Bitcoin have been so difficult up to this point. A coin output must be either spent completely or not spent at all. What we've done with this account abstraction layer is make it so that smart contracts on the blockchain have something similar to a wallet. When a user (or other contract) sends coins to a contract, the code will create a standard "funding transaction", which is spendable only by the appropriate smart contract. It would be a great burden for smart contracts to have to pick their own coins (ie, having to write your own algorithm in Solidity), so we have added a consensus-critical coin picking algorithm which all contracts must use. So, for a contract to "send 5 coins to X", the miner will pick contract-owned coins (using the consensus-critical coin picking algorithm), and when it has enough inputs for the value to send, it will then construct the outputs of the transaction. In this case it would be "5 coins to X, remaining coins to sending smart contract (change output)". This transaction is then added to the current block. It's important to note that these transactions are not broadcast on the P2P network, they are only added by miners (and it is consensus-critical that they add them if they put the contract transaction in the block)

I'm sure that explanation wasn't 100% clear, but the TL;DR; of it is that we integrated the EVM onto a UTXO based blockchain, and writing contracts for this should be just as easy as Ethereum, but you get the benefits of the UTXO model. These benefits include mobile/light wallet support by SPV, a more stable model (whereas Ethereum has forked many times to fix problems with this), and compatibility with existing Bitcoin tools and protocols.

[provenceday]

What a pity, looks like POS only, nothing for the miners here 

maybe dev can consider add a short time POW period?

[BlackMambaPH]

FOR HERO AND LEGENDARY

Qtum

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Follow Twitter .......Github......

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ANN Thread ......SLACK......

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[td][url=https://qtum.org/][font=rockwell][size=14px][glow=#282828,1][color=transparent]........[color=#00bfff][b]First UTXO Based PoS Smart Contract[/b][/color]........[/color][/glow][/size][/font][/url]
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[td][center][url=https://twitter.com/QtumOfficial][b][color=#00bfff]Follow Twitter[/color][/b][/url]
[url=https://git.qtum.org/users/sign_in][glow=#602020,1][color=transparent].......[color=white]Github[/color]......[/color][/glow][/url][/td]
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[td][center][url=https://bitcointalk.org/index.php?topic=1720632.0][b][color=#00bfff]ANN Thread[/color][/b][/url]
[url=https://qtumslack.herokuapp.com/][glow=#ff66b3,1][color=transparent]......[color=white]SLACK[/color]......[/color][/glow][/url][/td]
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FOR SENIOR MEMBER

Qtum

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....First UTXO Based PoS Smart Contract.. ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀  and DAPP Platform   ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀

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Follow Twitter .......Github......

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ANN Thread ......SLACK......

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Code:

[center][table][tr][td][url=https://qtum.org/][font=Berlin Sans FB][size=32px][COLOR=#007399]Qtum[/color][/size][/font][/url][/td]
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[url=https://git.qtum.org/users/sign_in][color=transparent].......[color=#331a00][b]Github[/color]......[/color][/url][/td]
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[td][center][url=https://bitcointalk.org/index.php?topic=1720632.0][b][color=#ff9900]ANN Thread[/color][/b][/url]
[url=https://qtumslack.herokuapp.com/][color=transparent]......[color=#cc0052][b]SLACK[/color]......[/color][/url][/td]
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FOR FULL MEMBER

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█ Qtum █▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
●▬●▬●▬● First UTXO Based PoS Smart Contract and DAPP Platform ●▬●▬●▬●
▃▃▃▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▃▃▃

Code:

[center][color=#0077b3]▀▀▀▀▀▀▀▀▀▀[/color][color=#006699]▀▀▀▀▀[/color][color=#005580]▀▀▀▀▀[/color][color=#004466]▀▀▀▀▀▀▀[/color][color=#00334d]▀▀▀▀▀▀▀█[/color] [color=#0088cc][b][font=Verdana]Qtum[/font][/b][/color] [color=#00334d]█▀▀▀▀▀▀▀[/color][color=#004466]▀▀▀▀▀▀▀[/color][color=#005580]▀▀▀▀▀[/color][color=#006699]▀▀▀▀▀[/color][color=#0077b3]▀▀▀▀▀▀▀▀▀▀[/color]
[font=rockwell]●▬●▬●▬● [color=#0088cc][b]First UTXO Based PoS Smart Contract and DAPP Platform[/b][/color] ●▬●▬●▬●[/font]
[color=#0077b3]▃▃▃▅▅[/color][color=#006699]▅▅▅▅▅[/color][color=#005580]▅▅▅▅▅[/color][color=#004466]▅▅▅▅▅[/color][color=#00334d]▅▅▅▅▅[/color][color=#004466]▅▅▅▅▅[/color][color=#005580]▅▅▅▅▅[/color][color=#006699]▅▅▅▅▅[/color][color=#0077b3]▅▅▅▅▅[/color][color=#0088cc]▅▅▅▃▃▃[/color][/center]

FOR MEMBER RANK

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█ Qtum █▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
●▬●▬●▬● First UTXO Based PoS Smart Contract and DAPP Platform ●▬●▬●▬●
▃▃▃▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▅▃▃▃

Code:

[center]▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█ [url=https://qtum.org/]Qtum[/url] █▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
●[url=https://qtum.org/]▬[/url]●[url=https://qtum.org/]▬[/url]●[url=https://qtum.org/]▬[/url]● First UTXO Based PoS Smart Contract and DAPP Platform ●[url]▬[/url]●[url]▬[/url]●[url]▬[/url]●
▃▃▃[url=https://qtum.org/]▅▅▅▅[/url]▅▅[url=https://qtum.org/]▅▅▅▅[/url]▅▅[url=https://qtum.org/]▅▅▅▅[/url]▅▅[url=https://qtum.org/]▅▅▅▅[/url]▅▅[url=https://qtum.org/]▅▅▅▅[/url]▅▅[url=https://qtum.org/]▅▅▅▅[/url]▅▅[url=https://qtum.org/]▅▅▅▅[/url]▅▅[url=https://qtum.org/]▅▅▅▅[/url]▃▃▃[/center]

FOR JR. MEMBER

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█ Qtum █▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
●▬●▬●▬● World’s First Proof of Stake Smart Contract  ●▬●▬●▬●

Code:

[center]▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█ Qtum █▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
●▬●▬●▬● [url=https://qtum.org/]World’s First Proof of Stake Smart Contract[/url]  ●▬●▬●▬●[/center]

[Coccacc]

I want to join at the signature campaign, thank you. I wear the signature code.

[BlackMambaPH]

I want to join at the signature campaign, thank you. I wear the signature code.

You can't join the signature campaign because obviously you're only a newbie. And also this campaign not yet started.

May I request to Thread Moderator delete his post?

[Qtum]

We are still working on the pay scale for the signature campaign.  We will launch it in the Marketplace section of this site.  The site admins may not want signature campaign business being conducted in this thread, so please wait for us to make a new topic for it.

We paid BlackMambaPH for the signature designs, everyone on the Qtum team is pleased with his work.  Right now we are negotiating with him to help execute the campaign.

Give us a day or two to work out the campaign details, and then we can get started!

[b.i.t.c.o.i.n]

please check my PM  
Hi Qtum Founder

I have made Turkish language for Qtum Since 03 January 2017
https://bitcointalk.org/index.php?topic=1737362
Im waiting your respon  

[Qtum]

We would like to thank Coindesk.com for writing an article about Qtum:

http://www.coindesk.com/blockchain-angels-invest-1-million-bitcoin-ethereum-hybrid-qtum/

We would also like to point out that we are the first blockchain project with a billionaire investor for our seed round funding.

[BlackMambaPH]

Signature campaign is currently on going. Join and Support us now!

https://bitcointalk.org/index.php?topic=1747399.msg17470690#msg17470690

I'm the signature campaign manager

[PCindy]

hello sir i want to join blog/artikel pliss chek my blog

NEWBIUM

https://coins.newbium.com/post/6160-qtum-smart

MY BLOG

http://qtumsmart.blogspot.sg/2017/01/qtum.html


CHEK PM SIR THANKS

[provenceday]

http://www.coindesk.com/blockchain-angels-invest-1-million-bitcoin-ethereum-hybrid-qtum/

wow that's some great news!

[PolyPanto]

Hi, would like to reserve Russian translation when the translation bounty will be published. Thanks and good luck!

Hello, I didn't find confirmation about Russian translation was done, this a question is it still relevant, as I reserved it but didn't get any reply, will appreciate if you could clarify. Thank you

[Qtum]

http://www.coindesk.com/blockchain-angels-invest-1-million-bitcoin-ethereum-hybrid-qtum/

wow that's some great news!

Yes, Coindesk is a great news site.  We are very happy that they ran an article about Qtum.

We were also just published on Bitcoinmagazine.com

https://bitcoinmagazine.com/articles/qtum-connecting-blockchain-technology-with-the-commercial-world-1484145776

The guys in the picture, from right to left:

John (PR), Brett (That's me!), Neil (Head dev), Patrick (Qtum Founder), Caspel (Web dev), Earlz (Lead dev)

Our other team members were in other countries, but you'll hear and see more from them later.  There should be more press coming soon.

[Qtum]

It looks like the NASDAQ ran with the Bitcoinmagazine article:

http://www.nasdaq.com/article/qtum-connecting-blockchain-technology-with-the-commercial-world-cm732079

[kaconk]

http://www.coindesk.com/blockchain-angels-invest-1-million-bitcoin-ethereum-hybrid-qtum/

wow that's some great news!

Yes, Coindesk is a great news site.  We are very happy that they ran an article about Qtum.

We were also just published on Bitcoinmagazine.com

https://bitcoinmagazine.com/articles/qtum-connecting-blockchain-technology-with-the-commercial-world-1484145776

The guys in the picture, from right to left:

John (PR), Brett (That's me!), Neil (Head dev), Patrick (Qtum Founder), Caspel (Web dev), Earlz (Lead dev)

Our other team members were in other countries, but you'll hear and see more from them later.  There should be more press coming soon.

Qtum is great ! unique concept and transparent the team.