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

[Gleb Gamow]

Here's something interesting:

Chandler Jun / Qian Dejun: https://www.itjuzi.com/person/29069 ~ Shanghai Pudong New Area
Lu Yang: https://www.itjuzi.com/person/29070 ~ Shanghai Pudong New Area
Shuai early / Shuai Shu / Shuai Chu / Patrick Dai: https://www.itjuzi.com/person/29071 ~ Shanghai Pudong New Area

[earlz]

It seems you found a news article translated from Chinese to English that apparently didn't keep that nuance. That makes Patrick a scammer... how? Patrick has been pretty public about being a PhD drop out, though I believe he wants to go back to school sometime later when he's less busy to finish his PhD.

[Qtum]

(from: https://qtum.org/en/lm/account-abstraction-layer-overview)

Account Abstraction Layer Overview

Building on bitcoins reliable and proven-to-deliver blockchain, Qtum stacks its Account Abstraction Layer, allowing the Bitcoin Core 0.13 blockchain to seamlessly interact with the Ethereum Virtual Machine (EVM). With this innovation it is now possible to execute smart contracts and run decentralized applications, simply and securely, in environments that were previously out of reach for Ethereum, combining the endless possibilities provided by smart contracts with the stability and maturity of the bitcoin ecosystem.

Until now, attempts to implement smart contract solutions on top of the bitcoin blockchain have had issues, been lackluster, or failed to break into the mainstream business market. This is primarily due to the fact that the bitcoin blockchain employs an Unspent Transaction Output (UTXO) scheme to associate coins with addresses, rather than the easier to understand, but otherwise problematic, account-based model used by Ethereum.

An account based model works pretty much the way one would imagine:  if Alice has 10 tokens, and sends 5 of them to Bob, who has zero tokens; 5 tokens are simply subtracted from Alice’s balance and added to Bob’s, who now owns 5 coins.  On a UTXO blockchain, however, Alice does not directly hold 10 tokens, but a series of outputs, which are collections of coins resulting from previous transactions.

In such a model, instead of owning 10 tokens, Alice would, for example, hold 3 outputs: (a) consisting of 6 coins, (b) consisting of 2 coins, and (c) consisting of another 2 coins. In this scenario Alice couldn’t simply send 5 coins to Bob, but instead she (or her wallet, for that matter) would have to pick the best-suited output and receive “change” in return (a process called coin picking). In our example this means that Alice would transfer output (a), consisting of 6 coins, and receive 1 coin back as “change”. This “change” is what is called the Unspent Transaction Output, or UTXO. After the transaction Alice would still hold 3 outputs, this time (a) consisting of 1, while (b) and (c) remain 2.

Employing such a seemingly complex bookkeeping scheme allows the Bitcoin blockchain to support Simple Payment Verifications or SPVs. The SPV protocol enables the support of light wallets, which are wallets that can interact with the Bitcoin network in a decentralized and trustless manner, without having to download the entire Bitcoin blockchain. This property is immensely useful for mobile applications or in any low bandwidth/storage environment.

Until now, Ethereum smart contracts couldn't execute in such environments exactly because Ethereum’s account based blockchain does not provide a SPV analog. To solve this, Qtum builds its decentralized application platform on the proven-to-deliver Bitcoin blockchain and introduces the Qtum Account Abstract Layer, which serves as a communication layer between the Bitcoin Core 0.13 protocol and the EVM.

To achieve this, Qtum has extended the Bitcoin 'Script' language, adding 3 ‘opcodes’ so that it functions as a vehicle to transport code to the EVM, while adding special processing conditions, executing these EVM-using transactions immediately when added to the blockchain - allowing the EVM to operate within a UTXO environment.

In order to relieve Qtum smart contracts from the need to perform coin picking for every transaction, Qtum comes coded with an automated, generic coin picking algorithm which allows contracts to ignore the UTXO mode of operation, while functioning normally, as if deployed in an account-based environment. This method is what enables Qtum to be compatible with pre-existing Ethereum smart contracts, allowing them to be executed on Qtum with little to no change to their code.

For more information about Qtum’s architecture in general, please read this post or review our  Technical Whitepaper.   

https://qtum.org/ethereum-contracts-on-utxo/

 

https://qtum.org/wp-content/uploads/2017/01/Qtum-technical-white-paper-draft-version.pdf

[BTCspace]

http://edcon.io/download.html

22 Qtum：  How Qtum make EVM run on UTXO Model

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http://edcon.io/download.html

any comments on this speech ?
[/quote]
[/quote]

how Qtum be compatible with Ethereum platform?

[Gleb Gamow]

It seems you found a news article translated from Chinese to English that apparently didn't keep that nuance. That makes Patrick a scammer... how? Patrick has been pretty public about being a PhD drop out, though I believe he wants to go back to school sometime later when he's less busy to finish his PhD.

You're having a hard time addressing concerns sans sticking it up my ass, eh?

In re the following: Nuance?

http://www.btc12.com/thread-382.htm

Shuai Chu is one of the early adopters among the Chinese community. He graduated from Chinese Academy of Sciences with doctoral degree in computer. He started research blockchain in 2011 and quit Alibaba to start his own business. With various involvement in blockchain projects, he accumulated rich experience in blockchain development and put them into a technology document How to build your own blockchain from 0 to 1.

Patrick Dai: http://www.tmtpost.com/2439807.html

Chain (vechain) as a block chain industry start-up companies, in the area of ​​chain technology for a long time to explore. In 2013, we started to enter the industry from Bitcoin. Later in January 2015, we felt that the block-chain technology behind Bitcoin would have developed significantly, and that the United States had explored in the application of block-chain technology More and more, so we set up a special research team to explore the application of block-chain technology, and the company's direction gradually shifted to the chain-chain technology research and development and application.

[algreen]

Qtum good or Qtum bad So many questions after publishing this impartial facts about devs team. Suppose that if some innovative nature of the project is confirmed in the future it will be possible to buy coins on the exchange.

[earlz]

What day did you first learn about Bitcoin? I mean, I officially say I started programming when I was 13, but I can't remember exactly that long ago. I may have been 11 or 12, or I could have been 14. It can be hard to remember which year when it was many years ago, but anyway, relevance?

[altcoinrich]

I read your whitepaper, the QTUM foundation is very promising organization, do you have escrow in this project? 3 co-founders have the same amount of shares or Patrick is largest shareholder?

The exact number of keys is not yet determined, but the 3 co-founders (me, Patrick, Neil) will own a key (so at least 2 of 3, but we are discussing 3 of 4)

If you use 2 of 3 multi-key, it means no escrow in this project, and the fund can be transferred by only 2 co-founders, how about 2 are corrupted? The fiasco will happen if that happens. I prefer seeing a 4 of 5, and two escrows involvement can prevent corrupt and collusion.

[Gleb Gamow]

What day did you first learn about Bitcoin? I mean, I officially say I started programming when I was 13, but I can't remember exactly that long ago. I may have been 11 or 12, or I could have been 14. It can be hard to remember which year when it was many years ago, but anyway, relevance?

With brains like your's as co-founder of Qtum, I'm taken aback that you're not goin' for $20M during the ICO.

Saying in one publication that you starting in Bitcoin in 2011 is a lot different than saying you started in Bitcoin in 2013, with both articles listing accolades for a founder - Patrick Dai - seeking $10M in funding.

Do you, Jordan Earlz, see how you're ruining the cred of Qtum for those dying to be part of the pump and dump?

[cryptohunter]

I read your whitepaper, the QTUM foundation is very promising organization, do you have escrow in this project? 3 co-founders have the same amount of shares or Patrick is largest shareholder?

The exact number of keys is not yet determined, but the 3 co-founders (me, Patrick, Neil) will own a key (so at least 2 of 3, but we are discussing 3 of 4)

well done you are now known as a scammer for trying to protect and get in bed with a proven scammer.

[stackoverflow]

Oh now the paid trolls squad is going after Earlz!

Earlz is an old respected member of the community, and I'm sure he would not have gotten involved in this project if he had suspected it to be wrong.

But nice try glebby&co  

Try harder!

[stackoverflow]

On the front page of the Fintech section of IBTimes to boot!

Good stuff!

[cryptohunter]

Oh now the paid trolls squad is going after Earlz!

Earlz is an old respected member of the community, and I'm sure he would not have gotten involved in this project if he had suspected it to be wrong.

But nice try glebby&co  

Try harder!

Doesnt work like that. Old and respected and trusted are not the same thing.

1. shephen dai proven scammer
2. earlz supporting dais new scheme = supporting scammer.

simple as that.

no need to try harder. It's all there.

Whether he knew at the start he knows now and still continues to support it.

[Gleb Gamow]

Oh now the paid trolls squad is going after Earlz!

Earlz is an old respected member of the community, and I'm sure he would not have gotten involved in this project if he had suspected it to be wrong.

But nice try glebby&co  

Try harder!

Doesnt work like that. Old and respected and trusted are not the same thing.

1. shephen dai proven scammer
2. earlz supporting dais new scheme = supporting scammer.

simple as that.

no need to try harder. It's all there.

Whether he knew at the start he knows now and still continues to support it.

By extension, it saddens me that now a fellow professional poker player, Caspal and the Markov Twins are also in bed with Earlz and Dai. What saddens me is now there's no place for the elephants to sleep.  


"Yellow Man, do you have room at your Inn for us wearied elephants to lay our heads?"

[Gleb Gamow]

Just as Patrick Dai aka Steven Dai played the community, I, too, now get to play Qtum. Look at a taste of what's in store for them down the road: https://coinidol.com/coinidol-to-hold-public-trial-of-razormind-scammers/



Here's the good part. See if you recognize any names on the list:

The honorary members of the jury are:

- Charles Hoskinson, former CEO of Ethereum;
- Nathan Wosnack, Founder and President of Ubitquity LLC;
- Richard Kastelein, Founder of The-blockchain.com;
- Alex Matanovic, Co-Founder of Serbian Bitcoin Association
- Roger Ver, Bitcoin Jesus, founder of Bitcoin.com;
- Rupert Hackett, Board Director at Australian Digital Currency Commerce Association;
- Bas Wisselink, Co-Founder at NXT Foundation;
- Eric Grill, CEO of CoinOutlet, a Bitcoin ATMs company;
- Stephen DeMeulenaere, Co-Founder of Coin Academy;
- Ivan Tikhonov, Founder of Bits.media.

Maybe by then Qtum will explain where the hundreds of thousands of dollars worth of bitcoins originated that funded their official bitcoin wallet address - https://blockchain.info/address/1qtum1H39JbLjkBZGg4HVsrt9KD6FMS3g - then dumped on Star Xu's OKCoin prior to Star Xu funding Qtum. There's a term for such an illegal practice, but I'm too goddamn stupid to ascertain exactly what it is at this penning. Perhaps it'll come to me while jacking off to porn during breakfast.

[stormia]

Oh now the paid trolls squad is going after Earlz!

Earlz is an old respected member of the community, and I'm sure he would not have gotten involved in this project if he had suspected it to be wrong.

But nice try glebby&co  

Try harder!

Yeah I'm sure all the bagholders of the shitcoins earlz has made and left behind in the past hold him in such high regards.

https://bitcointalk.org/index.php?topic=950084.0
https://bitcointalk.org/index.php?topic=594886.0

For someone who has supposedly built a reputation off of reviewing shitcoin code for hidden premines etc they sure do like to make shitcoins they can speedmine, dump, and then abandon.

Need to put this requirement in bold red font:  "**If you wanna join us, you need to pay 25,000 NXT first."

I just noticed that.  Don't have any NXT so count me out...


-tb-

OK, thanks.

We will give MSG Tokens and part of source code to beta testers before launch.
25,000 NXT is to ensure that beta testers really want to help us but not cheating us out of tokens or code.
If we use escrow, someone may come to ruin this project or leak our source code then get NXT back.

Thanks.

You know you have to open source it eventually right? Assuming you want serious investors

If only he stood by his own words in regards to qtum. Where is the open source code if you are asking for 10 million?

[Gleb Gamow]

Oh now the paid trolls squad is going after Earlz!

Earlz is an old respected member of the community, and I'm sure he would not have gotten involved in this project if he had suspected it to be wrong.

But nice try glebby&co  

Try harder!

Yeah I'm sure all the bagholders of the shitcoins earlz has made and left behind in the past hold him in such high regards.

https://bitcointalk.org/index.php?topic=950084.0
https://bitcointalk.org/index.php?topic=594886.0

For someone who has supposedly built a reputation off of reviewing shitcoin code for premines etc they sure do like to make shitcoins they can speedmine, dump, and then abandon.

Need to put this requirement in bold red font:  "**If you wanna join us, you need to pay 25,000 NXT first."

I just noticed that.  Don't have any NXT so count me out...


-tb-

OK, thanks.

We will give MSG Tokens and part of source code to beta testers before launch.
25,000 NXT is to ensure that beta testers really want to help us but not cheating us out of tokens or code.
If we use escrow, someone may come to ruin this project or leak our source code then get NXT back.

Thanks.

You know you have to open source it eventually right? Assuming you want serious investors

If only he stood by his own words in regards to qtum. Where is the open source code if you are asking for 10 million?

Wait till you see my next post.  I'm tearing Jordan and Brett a new asshole. 

[stackoverflow]

1. shephen dai proven scammer

Any formal proof or court judgement to support that allegation, of course other than hearsay?

[Mr.Pro]

1. shephen dai proven scammer

Any formal proof or court judgement to support that allegation, of course other than hearsay?

BS, history there are alots of people screwed by that fucker. Don't worry those who were screwed before will be coming here.

[Gleb Gamow]

All the following was gleaned from Qtum's Slack channel (unless stipulated/obvious elsewise):

parkjungho. joined #general. five forty-four AM.
[6:07 AM]Open in archives
Feb 22nd at 6:07:36 AM  Star this message
qtum-earlz [6:07 AM]Open in archives
Feb 22nd at 6:07:36 AM  Star this message
We do not have a "Steven Dai" on the team (one of the founders is Patrick Dai, in case you have the name confused), and I can find literally no information about this name in the bitcoin community other than copy-pasted chat logs on bitcointalk from a single source (David). Bitbay was a long time ago so I don't remember all the drama around it, but for all I can find, this name could've been a scape goat to place blame on at the time

qtum-earlz. We do not have a "Steven Dai" on the team (one of the founders is Patrick Dai, in case you have the name confused), and I can find literally no information about this name in the bitcoin community other than copy-pasted chat logs on bitcointalk from a single source (David). Bitbay was a long time ago so I don't remember all the drama around it, but for all I can find, this name could've been a scape goat to place blame on at the time. six oh-seven AM.

Personal statement from Patrick Dai:




"Dear Qtum community,

Lately some concerns have been raised regarding my past involvement with the BitBay project.

Firstly, I’d like to confirm that I was indeed involved in the project, going under the name of Steven Dai. I, Xuguang Dai by birth, have been using the western nicknames Patrick and Steven interchangingly in order to engage smoothly with western partners. This is a commonplace practice in Asia, and in fact, I still use Steven from time to time.

As it is clear by now, the BitBay project was indeed highly problematic, with many goodwilling investors and entrepreneurs, including myself, losing some money and time invested in the project due to malevolent activity of some individuals.

My involvement in the project began in 2014, with the intent to support the development of decentralized commerce and the blockchain space in general. However, I soon found out the hard way that not all involved in BitBay’s operations shared these goals.

With questionable ends and actions surfacing, I decided to leave the project in 2015, after doing my best to support the remaining developers and handing them all BitBay related holdings under my control. These assets included about 70 BTC, which were transferred to BitBay’s developers before my departure from the project.

I want to assure you that I regard integrity and rightful conduct as my main priorities in all my business activities, past, present and future. I am confident that my performance in cooperation with the rest of the Qtum team will assert itself very soon.

Sincerely,

Patrick Dai"




Thank you for your patience.

Brett Fincaryk has been working alongside Patrick Dai for over two years over at Bitse but didn't know that his Chinese name is Xuguang Dai. Further, Jordan Earls didn't know that Patrick Dai goes by Steven Dai on occations according to ... wait for it ... Patrick Dai.

*Patrick on wechat:*  1 we released the project last year march 2016 , and won best blockchain innovations award by IBM in August 2016(video link)，we went to EDCON in Paris and made a good speech there, got a lot good feedback from bitcoin and ethereum developers. (Video link and ppt link)  2 we got 1M dollars investment from Roger Ver and Anthoney and Bo Shen and a billionaire and Okcoin's CEO and some senior manager from HuaWei and more, all these investors are not stupid and they made Due diligence on team members' background and Project background before they invest. 3 some team member's told us, they got paid to creat the FUD on Qtum before the ICO, because one month ago there is a group ask some so called  cooperations with Qtum ( to do promotions for Qtum and ask for money) *but Patrick say No.*

[5:47] 
Why was Patrick talking about himself in the 3rd person if he was the one doing hte posting???

[5:49] 
Regardless - it is seeming rather scammy that suddenly there is so much silence, and PWC is "unreferenced".  My urgency level to get involved in this just dropped off a cliff.

yan7181 [6:14 PM]
joined #general. Also, @frank6  joined.

qtum-earlz [6:41 PM]
His English isn't perfect? Idk I was beside him in the taxi when he typed it though

Taxi Driver: Where to, Steven?
Jordan Earls: He called you Steven.
Patrick Dai: In China, everybody Steven. It like hookers call mans John. You want hooker, Jordi?
Jordan Earls: No thank you. I just fucked the elephant in the office an hour ago. Pissed me off that Brett didn't clean up after himself prior to it being my turn.
Patrick Dai: No worry. I see us get more elephants very, very soon. I buy with TileCoin.



ONLY 15 minutes later ...



Totally fuckin WOW! The FUD that Jordan Earls speaketh of is that of the Steven Dai / Patrick Dai connection.



To reiterate for the retards reading this, BitBay was before Bitse which Brett was part of from day one alongside Patrick Dai which Brett never knew him as Steven or Xuguang Dai.

To recap the timeline:

- Patrick Dai is accused of being Steven Dai.
- Jordan Earls denied it.
- Brett Fincaryk denied it. Brett never heard of Xuguang Dai.
- Jordan Earls continued to deny it shortly after being in a taxi with Patrick Dai during his problematic English post.
- Jordan and Brett announced a forthcoming Patrick Dai rebuttal.
- Patrick Dai confirms the accusations, going by Steven Dai on a many occasions, with his real name being Xuguang Dai.
- 15 minutes later, Jordan calls all the accusations FUD after Patrick Dai confirmed that he was indeed Steven Dai.
- Brett Fincaryk knew that Patrick Dai went by Steven Dai.
- Now, anybody expressing discontent are referred to as FUDsters, Sherlocks and/or paid trolls.

Meanwhile, Qtum ignores the accusation that they deposited over $490K worth of bitcoins stemming from under Patrick Dai's control into Star Xu's OKCoin prior to Star Zu funding Qtum as an Angel investor, the $490K+ worth of bitcoins being a major part of Qtum's coffer valued over $640K worth of bitcoins just hours prior to registering their non-profit in Singapore.

Further, Qtum wants you to believe that all funds going in and out of its endeavor is fully transparent under the auspices of PwC, the exact same PwC who oversaw Danny Brewster's Neo & Bee's funds, of which one would have to have their eyes covered with cocksuckeroverflow's balls to not see what happened to Neo & Bee's Investards' money.

Bruno (but in Lithuania they call me Turėti)