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

[WiseGrub]

Is there anyway we can generate more QTUM through POW or POS?

Qtum is POS.  Probably 1% per year.

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[Qtum]

GOOD NEWS PPL!!

QTUM IS ABOUT TO BE ADDED ON COINBASE>>>POSSIBLY ON SUNDAY

We believe this to be false, we have never spoken with coinbase.

Is there anyway we can generate more QTUM through POW or POS?

Qtum is POS.  Probably 1% per year.

We may need to release a document about how staking works, we just assumed most people were familiar with it.

Proof-of-Stake is a consensus mechanism that secures the Qtum network. This was launched in 2012 by Peercoin, adopted by Novacoin, and improved by Blackcoin. There are countless other projects that have adopted a version similar to PPC's proof-of-stake.

For a detailed breakdown on the PoS 3.0 code that we are based on, please see: http://earlz.net/view/2017/07/27/1904/the-missing-explanation-of-proof-of-stake-version

We highly recommend reading this article.


Here is the breakdown of Qtum's stake agenda:

Block Target: 2 minutes (This means there should be a new block generated every 2 minutes)
Block Reward: 4 Qtum (This will be reduced each year, until the reward is 1 Qtum)
Min Age: 8 Hours (This means you must leave your tokens in your wallet for 8 hours before you can participate in staking)
Max Age: NA

This should effectively peg inflation at 1% during the first year, and then it will be lowered. We figure with the amount of tokens lost or destroyed each year, Qtum may in fact become a deflationary platform.

I have high hopes for this project  . New ICOs are coming and that will just boost that price to the moon . Also some big announcments and this coin is 30$+ 

 

Nice to hear some news about the QUTM team and the Energo ICO project, I am a QUTM supporter and I also bought some Engergo ICO tokens with my QUTM coins. Hope this cooperation will be a great success.

There have announced they will build on the Qtum platform:

Energo
Inkchain
Vevue
Bodhi

Some of them have even done a crowdsale. There are about 10 projects in total that we are aware of, most of them originating in China.

[provenceday]

Thailand — A Qtum Adventure

https://medium.com/@Qtum/thailand-a-qtum-adventure-ee2823042ced

This past week, part of the Qtum team ventured to Thailand to share our knowledge of blockchain technology with local citizens, businesses, and government officials.
No matter where you go, people always illustrate some sort of patriotism. Thailand was no different. The Thai people were extremely open to finding out how blockchain technology could benefit them and their country.
In Thailand, Energo Labs CEO, Ray Chu, and Energo angel backer Bo Song, along with Qtum met with several institutions to enlighten people about the opportunities at hand.
We had lunch with Korn Dabbaransi, a former deputy prime minister of Thailand, and his son Ko Dabbaransi. The two were very open about the need to innovate and accelerate Thailand’s growing economy with blockchain technology and Qtum.

Korn Dabbaransi & Patrick Dai

Mr. Dabbaransi, who often speaks about the economic benefits of the One Belt One Road in Asia, immediately saw how blockchain technologies like Qtum could be synergistic to these multinational efforts.
After lunch, Mr. Dabbaransi introduced Qtum to several representatives from Krungsri Bank. Krungsri, who is a member of MUFG’s global financial group, was very aware of distributed ledger technologies because MUFG is a member of Ripple’s Global Payments Steering Group.

Qtum at Krungsri

Realizing how Qtum and Energo could assist in several projects that the Thai people were interested in, our teams were invited back to continue our discussions and to make progress towards our shared visions.
Given that the blockchain community was relatively small in Thailand, there’s large potential for Qtum. This is why we plan to setup some partnerships with local universities and establish a blockchain research center. We believe these long-term initiatives will benefit Thailand and Qtum.

thanks for the great updates.

[Infernum]

There is also a thread on Reddit, would be nice to get some replies!
https://www.reddit.com/r/CryptoCurrency/comments/6uq3rw/qtum_team_update_on_activities_in_korea/?st=j6ku0lv4&sh=86e0f94c

[YGung]

There wouldn't happen to be a Qtum staking calculator out would there?

[Crypto_Profits]

does anybody know how to run the PoS with QTUM?

[Qtum]

Korea — A Qtum Adventure



https://medium.com/@Qtum/korea-a-qtum-adventure-6be0b6624db7

Very recently we traveled to Seoul, S. Korea to meet with people interested in our project. Our co-founder, Patrick was joined by John, Stella, and Xiaolong, who presented for nearly 90 minutes. There were a lot of topics covered, so we want to give a summary of the highlights. The meetup was held at Seoul’s D.Camp, one of the largest startup ecosystems in Korea, and was attended by over 100 people from the local blockchain industry.

To see a recorded version of the presentation, please watch on Facebook:


https://www.facebook.com/pg/blockchainkoreameetup/videos/


Patrick’s speech was the longest, starting with his personal opinions on the state of the industry. He discussed how blockchain changes the way we think and cooperate, how it levels the playing field and creates an ecosystem where everyone can share the rewards, unlike the centralized systems we with. This comes with a large learning curve, which is difficult for many to understand. He goes on to mention 2 reasons for this; the technological barrier, with regards to cryptography and decentralization. The second reason is the social aspect, the fact that blockchain changes the reward structure of our entire economy. It is a very disruptive idea, but it should accelerate the efficiency of our society. He ends by saying: “ One of the reasons that Blockchain is growing so rapidly is because people realize the risk in the financial system we are using today, because it’s an inflationary system where the government can print money on a whim”.


The next section of the speech, Patrick goes on to introduce the Qtum project. He described that the idea started forming in early 2016, as a way to bring the stability of Bitcoin Core and the flexibility of the Ethereum Virtual Machine together, with the fairness of a Proof-of-Stake platform. He mentions the threat of centralization in the Proof-of-Work platforms, and how a lot of the hashing power resides in one province of China. His vision of the platform is to be compatible with the two biggest ecosystems (Bitcoin and Ethereum), this way people who are familiar with either will have no problem building on Qtum.


This was a huge undertaking, Bitcoin is built on the Unspent Transaction Output model. It’s very hard to port the Ethereum Virtual Machine to the Bitcoin network, no one did this before. It took a few months for us to figure this out, but one of the unique parts of the Qtum project is that everything in the White Paper that we discuss has already been built. This brought us to the first Test Network release, dubbed “Sparknet”, which proved that we could deploy Solidity Smart Contracts on a UTXO Blockchain, with a PoS consensus model.

Enter Skynet, Qtum’s second Test Network. Patrick explains that we enhanced the PoS security with Qtum’s Smart Stake technology, which forces participants who have staked a block to receive the rewards over 500 confirmations. This will make it a lot harder for malicious users to perform “replay attacks”. Patrick went on to explain that the technical attacks are not the only problems that require solving. When Bitcoin was launched, Satoshi later vanished, leaving no mechanism for formal governance in the event the blockchain required upgrades. This lead to the scaling debate over how to increase the amount of transactions that could be processed by solving a block. This debate lasted over two years and continues to go on. To avoid this on the Qtum platform, a Decentralized Governance Protocol is being tested on Skynet. This allows certain parameters of the network, like block size, to be changed without hard forking. Qtum holders can initiate a vote, and if it gains a large majority, the nodes will adjust without disrupting the network.
Moving forward, Patrick highlighted what to expect over the next month. There will be an internal code audit and review, along with a public ‘bug bounty’. This will allow Blockchain developers to review our code, and earn Qtum tokens for submitting fixes. This will take us to the Main Network release, around mid-to-late September.

Beyond this date, there is a lot to look forward to. Patrick mentioned that we have Non-Disclosure Agreements signed with corporations in China that want to support the Qtum Blockchain. He went further to say that after we launch the Main Network, there will be an effort put into the “Qtum Enterprise Alliance”. Effectively, this will be a permissioned blockchain that acts as a sandbox for the network.

The next topic discussed was a new virtual machine. If we are successful, we will have a VM that is compatible with the x86 family of programming languages (C, C++, Rust, Haskell, and many others). This will open the floodgate to the masses who are familiar with these platforms. Patrick pointed out that with Solidity, there’s just not enough people that can code for it, making it harder to review for vulnerabilities like the “DAO hack” and “Parity multisig hack”.

The last topic discussed had a lot to do with the Enterprise Alliance, permissioned blockchains, and regulatory systems. There is a need for identity verification on blockchains, above and beyond signing a message. Currently, Qtum creates ‘addresses’ in Base58 starting with the letter “Q”, which can get converted to hex (for compatibility reasons with Solidity) that start with “0”. But moving forward, a permissioned Blockchain will have the functionality to issue addresses starting with “V” for entities that have verified. Ideally, this would be a feature on Qtum’s public network as well.



Office Visits

At Coinone, we met with Steve Sang Hyuck Lim, Coinone’s CIO. There was a lot of Qtum fans around the Coinone office and were happy to meet Patrick. Coinone is a rising Korean exchange that is a part of Korea’s Dayli Financial Group that has grown exponentially over the past year.

The Loop, who is also a member of the Dayli Financial Group, is building a way to connect blockchain ecosystems with their ICON platform. It was great to interact with some of the Korean projects, we can see how fast the community is growing here from how much interest there is in Qtum from Korea and how many new projects are starting here.

Qtum met with Medibloc, who aims to be the first healthcare platform built on top of Qtum’s blockchain. We first met Medibloc at Consensus in May, and have since met in Shanghai and now in Seoul. We are happy that they are able to build on Qtum and wish them the best.

Lastly, we finished up our tour of Seoul by meeting with several media outlets based Korea. They hoped to learn more about Qtum because the blockchain industry is growing so fast in Korea.

[cryptmaniac]

Heard from a close friend wrking in coinone....Qtum about to be listed anytime nw!!!

Accumulate as mch as you can before its too late!

[hope-crypto]

Heard from a close friend wrking in coinone....Qtum about to be listed anytime nw!!!

Accumulate as mch as you can before its too late!

Why are you spreading false news? You already said that about Coinbase and Qtum just negated you... You want to pump price with that? You shouldn't worry about the price... Future of this project is bright and you don't need to do things like this...

[pigheadbig]

nice to see there are some ICO project that will build on Qtum platform:

Energo
Inkchain
Vevue
Bodhi

Some of them have even done a crowdsale. There are about 10 projects in total that we are aware of, most of them originating in China. And I have joined in the Energo, Bodhi crowdsale,and it seems to be very hot.

[gomei]

nice to see there are some ICO project that will build on Qtum platform:

Energo
Inkchain
Vevue
Bodhi

Some of them have even done a crowdsale. There are about 10 projects in total that we are aware of, most of them originating in China. And I have joined in the Energo, Bodhi crowdsale,and it seems to be very hot.

I am also a qutm supporter and I treat it as a long term investment because I can see the dev team is very active, also, I put some investment in the Energo and Bodhi.

[shenjing85]

Nice to see so many latest updates from the dev team, including some cooperation with other famous team, the team is working hard and keeping in touch with the investors, really good.

[Gss2k2]

Heard from a close friend wrking in coinone....Qtum about to be listed anytime nw!!!

Accumulate as mch as you can before its too late!

coinone is kinda small exchange, so it will be a small pump. 

[Qtum]

Qtum Development Updates:


Development Updates
Bugs fixed:

[RPC] Fixed a bug where `getaccountinfo` would return a backward hex address
[Consensus/MPoS] Fixed a consensus bug with MPoS where rewards were calculated to include contract refunds, causing a pre-release version of testnet-2 to become stuck
[Consensus/AAL] Fixed a consensus bug where a malicious staker could bypass the AAL and spend funds that belong to contracts. This was the reason for the v1.1 release of testnet-2. The cause was that OP_SPEND was not actually mandatory, and furthermore by not including OP_SPEND in vin[0].scriptSig, a bypass in AAL consensus rules was possible.
[Staker] Fixed a bug where the staker could behave improperly sometimes when reverting contract state, resulting in the chain becoming stuck

Work completed:
[GUI] Added a very early UI for smart contracts, allowing you to use smart contracts within the Qtum-Qt; also reworked the layout of the GUI
[Tests] Added several RPC tests for DGP
[Tests] Added an RPC test to validate PoS segwit blocks
[Tests] Fixed some failing tests
[Tests] Added RPC tests to ensure contracts can be created within contracts, but also that contracts created with an initial endowment results in an error
[Misc] Fixed `-testnet` mode to properly function with adjusting PoS difficulty, similar to mainnet mode
[Staker] Optimized the staker by caching stake information instead of pulling it from disk every time, resulting in a significant increase in performance, especially when the wallet contains a large number of UTXOs

[Infernum]

Thanks for the updates! Only one month to go now... Arrgh

[evok3d]

Qtum Development Updates:


Development Updates
Bugs fixed:

[RPC] Fixed a bug where `getaccountinfo` would return a backward hex address
[Consensus/MPoS] Fixed a consensus bug with MPoS where rewards were calculated to include contract refunds, causing a pre-release version of testnet-2 to become stuck
[Consensus/AAL] Fixed a consensus bug where a malicious staker could bypass the AAL and spend funds that belong to contracts. This was the reason for the v1.1 release of testnet-2. The cause was that OP_SPEND was not actually mandatory, and furthermore by not including OP_SPEND in vin[0].scriptSig, a bypass in AAL consensus rules was possible.
[Staker] Fixed a bug where the staker could behave improperly sometimes when reverting contract state, resulting in the chain becoming stuck

Work completed:
[GUI] Added a very early UI for smart contracts, allowing you to use smart contracts within the Qtum-Qt; also reworked the layout of the GUI
[Tests] Added several RPC tests for DGP
[Tests] Added an RPC test to validate PoS segwit blocks
[Tests] Fixed some failing tests
[Tests] Added RPC tests to ensure contracts can be created within contracts, but also that contracts created with an initial endowment results in an error
[Misc] Fixed `-testnet` mode to properly function with adjusting PoS difficulty, similar to mainnet mode
[Staker] Optimized the staker by caching stake information instead of pulling it from disk every time, resulting in a significant increase in performance, especially when the wallet contains a large number of UTXOs

Great work! Thank you for the update

[burner2015]

Good stuff! 

[finist4x]

Friends! Support your QTUM...

https://bitcointalk.org/index.php?topic=1948108.msg21058883#msg21058883

[coin@coin]

Qtum Development Updates:


Development Updates
Bugs fixed:

[RPC] Fixed a bug where `getaccountinfo` would return a backward hex address
[Consensus/MPoS] Fixed a consensus bug with MPoS where rewards were calculated to include contract refunds, causing a pre-release version of testnet-2 to become stuck
[Consensus/AAL] Fixed a consensus bug where a malicious staker could bypass the AAL and spend funds that belong to contracts. This was the reason for the v1.1 release of testnet-2. The cause was that OP_SPEND was not actually mandatory, and furthermore by not including OP_SPEND in vin[0].scriptSig, a bypass in AAL consensus rules was possible.
[Staker] Fixed a bug where the staker could behave improperly sometimes when reverting contract state, resulting in the chain becoming stuck

Work completed:
[GUI] Added a very early UI for smart contracts, allowing you to use smart contracts within the Qtum-Qt; also reworked the layout of the GUI
[Tests] Added several RPC tests for DGP
[Tests] Added an RPC test to validate PoS segwit blocks
[Tests] Fixed some failing tests
[Tests] Added RPC tests to ensure contracts can be created within contracts, but also that contracts created with an initial endowment results in an error
[Misc] Fixed `-testnet` mode to properly function with adjusting PoS difficulty, similar to mainnet mode
[Staker] Optimized the staker by caching stake information instead of pulling it from disk every time, resulting in a significant increase in performance, especially when the wallet contains a large number of UTXOs

Thanks for the timely updates, shows progress and that the team is committed.
Looking forward to September's launch!

[lijoe408]

nice to see there are some ICO project that will build on Qtum platform:

Energo
Inkchain
Vevue
Bodhi

Some of them have even done a crowdsale. There are about 10 projects in total that we are aware of, most of them originating in China. And I have joined in the Energo, Bodhi crowdsale,and it seems to be very hot.

They announced in slack that there are 17 projects total so far and some are waiting to announce i guess.  I'm just wondering what happened with Qtum and Tron? First it was rumored that Tron was building on Qtum, and then they were partners, and now it's unclear if there is any involvement?