QTUM

Qtum (Quantum) is an open source, decentralized project that aims to capitalize on the success of Bitcoin, while competing for the Decentralized Application (DAPP) and Smart Contract market.  Our goal is to work with industry partners, and launch the first Value Transfer Protocol (VTP).  This will streamline daily business routines, and allow for easier adoption. Qtum aims to become the first platform with Smart Contracts that execute as part of an Unspent Transaction Output (UTXO).
Qtum aims to bring a new ‘Value Transfer Protocol’ to the industry. Bitcoin has done a tremendous service to the commerce and finance industry by providing a means of value transfer, and we would like to expand on this momentum. We plan to support the Qtum Blockchain with Smart Contracts that allow users to control coins by taking advantage of various Internet Protocols.
One project that will be released as a working beta is SpringEmail, which uses a modified Simple Mail Transfer Protocol (SMTP).  This allows users to send and receive Qtum as part of an e-mail.  We call this hybrid protocol “BiSMTP”.  This should lessen the learning curve for users interested in Qtum but do not have a wallet.

What’s next qtum?

1- Quantum wallets:

Work is in progress to make brand new desktop and mobile wallets for Quantum, for the desktop wallet, we are working on a dynamic and user friendly wallet which will include in addition to the classic functionalities, support for smart contract operations and a new innovative design.

Our Mobile wallet is also in the works, with versions for iOS and Android, the initial mobile versions are already in testing.

2- Merging with proof of stake:

We are currently working on merging EVM and PoS branches of Quantum.

3- Testing Quantum:

We are currently testing the Quantum implementation. In addition to Bitcoin and EVM automated tests, we are writing our Quantum specific test suite.

Other than automated testing, manual testing is currently taking place as well.

After finishing in-house testing, we will require external code reviews and testing from independent and professional renowned software developers and companies.

4- Releasing Quantum Sparknet (testnet):

Once our initial Quantum prototype has passed internal and external testing procedures, it will be time to launch the Quantum testnet code named "Sparknet". which will be the final real world test before the official release.

Capitalizing on concerns

While Rootstock aims to improve the bitcoin network, a key aspect of Qtum's pitch is that existing public blockchain developers have become so dissatisfied with their current choices that they will seek a new alternative.


Dai believes that bitcoin and ethereum both have design flaws that would inhibit certain uses, which would enable room for Qtum to become a notable alternative.


For instance, Dai posited that enterprise developers may be dissuaded from launching a private bitcoin network due to its use of proof-of-work for its consensus model.


"The consensus part is not scalable. You cannot deploy permissioned blockchain and maintain the network," Dai said.


Additionally, the early interest in such an idea from the Hyperledger team is further evidence that the new blockchain should be further explored, he suggested.

Built-in oracles

Notably, the design would incorporate support for so-called "blockchain oracles" – smart contracts that would serve to facilitate interaction between the blockchain and exterior data feeds.


On Qtum, these contracts would be called "master contracts", a feature that Dai believes will be attractive to enterprise firms like Microsoft that are exploring similar concepts.


Microsoft's Project Bletchley, for instance, envisions how corporates may be able to monetize a form of oracle it calls a "cryptlet" as a way to boost revenue from data streams.


Of course, the proof will be in how Qtum is ultimately able to attract developer interest â€“ a tall task, Dai admitted.


He concluded: