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Author Topic: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!  (Read 42142 times)

BitcoinRush

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Re: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!
« Reply #15 on: January 28, 2017, 11:29:12 AM »
Qtum Featured on Bitcoin Rush!

https://youtu.be/-GdSAlr2Q3Q?t=1m47s&feature=youtu.be

#Quantum, THE open source #Blockchain project that will allow #Decentralized
#Applications and Smart #Contracts to execute as part of an #UTXO transaction.

rokib

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Re: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!
« Reply #16 on: January 29, 2017, 03:06:58 AM »
Qtum Update:  January 28th, 2017



It has been a few days since we gave a status update, so we would like to give an overview of what’s going on behind the scenes.

Recently, we have begun work on a new website.  That should be ready in about 3 weeks, until then, we will continue to use the current one (https://qtum.org).  The section where we list our Angel Backers has been updated, we will reveal more names shortly once we have approval.  We plan to discuss with our Angels why they decided to support our project, and what they expect from our team in the future.  







The Qtum Crowd Sale will start on March 1st.  We currently have enough funds to last until the sale ends on April 1st.  The Crowd Sale will be hosted by major Chinese exchanges, which will be announced in February.  There will also be a direct sale that is done on our website.  The concrete information about the Crowd Sale will be announced in our business whitepaper prepared by PricewaterhouseCoopers.  The technical whitepaper will come out mid-February.  The draft section that we released a few weeks back was from the last revision of the whitepaper, so that portion will be completely redone for the new version.

On the Press front, we have done a decent job gaining  traction with Blockchain industry sites.  Our focus right now is engaging with the mainstream press.  A large part of this project involves preparing a Blockchain project for real world business applications.  We already have a signed partnership agreement with a company valued at 100 million dollars USD, which we will discuss later.  We are currently in discussions with more companies, who are excited about our “Go Mobile” strategy.  This was actually the portion of our project that convinced a billionaire to back Qtum.

Our development team is currently merging the Proof-of-Stake protocol into Bitcoin Core v0.13, along with some testing of the Account Abstract layer we implemented to allow the EVM to run on a UTXO model.  The screenshot earlier of the mobile wallet is what you can expect to see once we have a working testnet.  Jordan Earls can give a better update on this later, and it’s best to ask him questions directly if you want more details.

Again, if you would like to speak with our team directly, there is always someone on Slack:

https://qtumslack.herokuapp.com/


Original thread : https://bitcointalk.org/index.php?topic=1720632.msg17650522#msg17650522

rokib

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Re: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!
« Reply #17 on: January 29, 2017, 12:44:39 PM »
Qtum Update: January 29th, 2017







Patrick will be speaking at the European Ethereum Development Conference, February 17th - 18th in Paris.  If you are going and would like to attend his venue, please let us know:  http://edcon.io











Q: What is EDCON?

A: The EDCON (European Ethereum Development Conference) is a conference that will take place in Paris at the Ecole Supérieure de Commerce de Paris - Europe (ESCP) on 17-18 February 2017. The conference will cover Ethereum technology and research (PoS, Scalability, Privacy) as well as Ethereum-based applications.

Q: Who is organizing EDCON?

A: EDCON is organized by LinkTime with the support and cooperation of developers from the Ethereum Foundation and the wider Ethereum community, as well as ADETIF, the Ecole Supérieure de Commerce de Paris - Europe (ESCP), the Asseth (French Ethereum, nonprofit), La ChainTech (French blockchain, nonprofit).

Q: What topics will be discussed at EDCON?

A: Talks will cover:
    * Ethereum base-layer technology
    * Ethereum research (PoS, scalability)
    * Privacy (eg. zero knowledge proofs)
    * Formal verification
    * Ethereum consortium chain development
    * Applications being built on Ethereum
    * Growing the Ethereum community

Q: How do I buy a ticket?

A: There are two types of tickets: standard tickets and VIP tickets.

Standard Ticket: Able to attend the Main Conferences, morning community event and activities of Ethereum Community in Subconference.

VIP Ticket: 100 Tickets only. Able to attend the Main Conferences, Cocktail Party and activities of Ethereum Community in Sub-conference. VIPs are able to build deeper connections with core developers, investors and entrepreneurs. Highly recommended for those who want communicate more with core participants.

Tickets for the conference are available here: https://edcon.io/register.html.


original thread : https://bitcointalk.org/index.php?topic=1720632.msg17660633#msg17660633

vindyne8

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Re: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!
« Reply #18 on: January 29, 2017, 10:41:13 PM »
Looking good!  :D

vindyne8

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Re: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!
« Reply #19 on: January 31, 2017, 06:33:44 PM »
Qtum co-founder Patrick Dai will be hosting a QA session on slack Wednesday 10pm EST



Please join the slack here: qtumslack.herokuapp.com

amiraja

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Re: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!
« Reply #20 on: February 01, 2017, 03:24:10 AM »
Qtum is good project on 2017 i like it
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QtumPR

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vindyne8

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Re: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!
« Reply #22 on: February 01, 2017, 09:30:58 PM »
REMINDER! - This is TODAY in just about 6 hours from time of this post!

Qtum co-founder Patrick Dai will be hosting a QA session on slack Wednesday 10pm EST



Please join the slack here: qtumslack.herokuapp.com

QtumPR

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Re: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!
« Reply #23 on: February 02, 2017, 12:38:43 PM »
Qtum Q&A session over! Thank you to participants, great questions. 

We will provide a transcript, or join our slack https://qtumslack.herokuapp.com/

QtumPR

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Re: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!
« Reply #24 on: February 03, 2017, 11:30:03 PM »
Qtum Update: Feb 2nd, 2017











Our Q&A session with Patrick Dai, Jordan Earlz, and guest Bo Shen took place yesterday.  Posted below is a very long list of questions we responded to.  Please keep in mind, this list is just responses from the team.  There is over 600 people on our Slack currently, and we had quite a few active participants, so for these images we edited out some of the talking.  We will provide a full transcript later on our website (https://qtum.org) but if you would like to read it in full, you can join our Slack.

https://qtumslack.herokuapp.com/


























vindyne8

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Re: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!
« Reply #25 on: February 04, 2017, 09:15:30 PM »
Qtum development update, testing Smart Contracts on Bitcoin Core, and making it work with Proof-of-Stake:



https://qtum.org/qtum-development-updates-2/
« Last Edit: February 04, 2017, 09:17:32 PM by vindyne8 »

rokib

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Re: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!
« Reply #26 on: February 06, 2017, 09:11:35 AM »
Qtum Press Update:






8btc.com goes into depth with an article about the Qtum project:

http://news.8btc.com/the-qtum-leap-driving-smart-contracts-to-mainstream-business










Ever since an anonymous group of developers published the groundbreaking White Paper in 2009, titled “A Peer-to-Peer Electronic Cash System” – Bitcoin, the open source system it introduced, kept on delivering its promises uninterrupted.

qtum
The reliability of the network, described by the bitcoin pioneers in a clear and short document of merely nine pages, is truly unprecedented and adequately reflected in the (somewhat unbelievable) 15 billion USD market capitalization of the bitcoin ecosystem it initiated.

 

The blockchain, the technology underlying this achievement, was originally introduced to solve the “double spending problem” in peer-to-peer digital currency systems. However, soon enough it became self-evident that blockchain technology was capable of facilitating much more than allowing individuals to exchange “electronic cash” without having to rely on banks, clearing houses or any other intermediary.
In 2013, a young cryptocurrency researcher named Vitalik Buterin, only 19 at the time, proposed a scheme to generalize bitcoin’s decentralized exchange model, so it could execute far more complicated transactions, which could be tied to binary conditions. For instance: if, and only if, a set of conditions is met (like a product delivered, a service provided, etc.), then a payment should be triggered automatically and irreversibly. This re-introduced the idea of self-executing smart contracts into blockchain discourse – allowing anonymous parties to engage in direct exchange without the backing of lawyers, court orders or the police, taking the idea of intermediary-less p2p commerce to a whole new level.
Buterin and his colleagues proposed to generalize this concept of smart contracts even further, exceeding the purely economic realm of economics, and heralding a new age of decentralized computation. Since smart contracts operate on a binary if-this-then-that basis, Buterin suggested that they could serve as the basis of a decentralized programming language, able to code any application, without it having to be deployed on a centralized server. With this understanding, the Ethereum Project was born.
However, these new exciting abilities came at a price: in order to sustain the complexity of the new smart contracting platform, bitcoin’s elegant and rock solid transaction model had to be modified to the degree that interacting with the ethereum blockchain became a complicated and heavy-duty operation. While bitcoin has been running for almost a decade on, more or less, the same code, and has sparked since then numerous light-weight, mobile applications, and gateways; ethereum – with all its potential – remained a niche work-in-progress, not very well suited for massive mainstream adoption.
Preparing for a Qtum Leap
Understanding both – the enormous potential of ethereum’s decentralized computation platform, as well the importance of bitcoin’s ingenious simplicity – the Qtum team has designed a system which combines the most valuable assets of both projects.
Building on bitcoins reliable and proven-to-deliver blockchain, Qtum stacks a communication layer, allowing it to seamlessly interact with an enhanced version of the Ethereum Virtual Machine (EVM) called the Qtum Virtual Machine (QVM). 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.
Going Mobile
One of the main advantages of bitcoin’s unspent transaction output (UTXO) model is its ability to sustain lite wallets. Lite wallets allow users to interact with the bitcoin network without having to download and sync with the entire blockchain. Instead, lite wallets use the Simplified Payment Verification (SPV) protocol, which only requires wallets to download a small part of the blockchain, while ensuring that they only receive transactions which are necessary and relevant to operate.
On ethereum, however, the entire blockchain needs to be processed to interact with the network. Therefore, if one is interested in using an ethereum-powered application, or communicating with a smart contract, one first has to download and sync the entire ethereumblockchain, which to date weighs up to 50 GB and has a monthly growth rate of 1-5 GB, depending on the ethereum client.
This state of affairs made it impossible to envision a mobile future for fully decentralized applications. Until now, that is. Qtum, based on bitcoin’s UTXO transaction model, allows applications and devices to interact with the Qtumblockchain with a lite wallet, while still being able to process smart contracts on Qtum’s Virtual Machine.
With this, it is finally possible to execute any smart contract on your mobile phone or tablet, as easily, fast and securely as sending a simple transaction from your mobile wallet. With about a half of all internet traffic to major sites being generated by mobile devices, this ability is mandatory if we want to see the massive adoption of decentralized applications (DApps), smart contracts and a p2p economy.
A Blockchain Powered Internet of Things
A smart contract fueled Internet of Things has always been among the primary goals of the decentralization movement, and rightly so. Imagine an apartment door that unlocks automatically if and when the owner receives the due payment or a rental car that can be picked up by whoever paid the fee, without having to sign forms or leave a security in escrow. Any given device could be locked or unlocked for predetermined periods, according to a smart contract where all parties agree upon in advance.
Envisioning such a decentralized sharing economy becomes much easier with Qtum’s lite wallet functionality. Instead of forcing each and every device, connected to the IoT, to act as a full node, smart devices could easily sync with the blockchain using a small amount bandwidth and storage, allowing for a much more agile and efficient network.
Scalability, Speed, and Efficiency
Both, ethereum and bitcoin, are based on a similar consensus scheme to ensure the coherence and security of their blockchain. Consensus in this respect means that all nodes in the network compare their results, so to speak, to make sure that only entries everybody agrees upon are recorded on the blockchain. There are several ways to reach consensus; the classic bitcoin/ethereum method is called Proof-of-Work (PoW) mining, which functions by agreeing that the most accurate chain of blocks is the one associated with the most work, or computational tasks, behind it. Mining makes attacks very costly due to arduous, and otherwise useless, computations demanded from miners participating in the block-verification game.
Mining is very wasteful, in both terms of energy consumption and time. Essentially, millions of devices are performing non-functional operations for the sole purpose of rendering attacks on the network expensive.
Qtum is among the first fully decentralized and Turing-complete blockchains to utilize an attractive and much more energy-efficient method to maintain coherence with a Proof-of-Stake (PoS) consensus algorithm. In a PoS environment, nodes have to pose a staking fee to participate in the validation game, which is automatically foreclosed upon if the node is shown to operate with malicious intents, hence rendering attacks costly and inefficient, without having to waste precious computational resources.
Further increasing speed and efficiency, bitcoin’s UTXO transaction model, implemented on Qtum, allows the network to process several transactions in parallel and in any given order. This is in stark contrast to ethereum’s architecture, which demands all transactions to be processed one at a time, in chronological order – making it so that at any given moment all nodes connected to the ethereum network process only one single transaction, while all other transactions have to wait in line.
Compatibility across the board
Utilizing an enhanced EVM analog, the Qtumblockchain is compatible with existing ethereum-based smart contracts. Ethereum contracts can be ported to Qtum with little to no change to their code and execute as expected. Furthermore, Qtum implements complete backwards compatibility, meaning that once a decentralized application or contract is deployed on the Qtum network, they will stay operational, even if the system is updated. With this, Qtum solves a huge problem, very well known to ethereum developers, who very often find their applications rendered useless by recurring changes to the ethereum network.
The bitcoin-based UTXO transaction model also ensures that Qtum will be mostly compatible with the existing bitcoin ecosystem, allowing Qtum users to benefit from the industry’s top-notch innovations, fueled by hundreds of millions of dollars already invested in the space. For example, if a payment gateway accepts bitcoin today, it already holds the potential to support Qtum transactions easily and link to Qtum’s API, without any significant modifications to their operation.

Bridging the Gap between Blockchains and the Business World
Despite their great potential, businesses, governments, and other legacy organizations still struggle with implementing blockchain-based solutions. These groups, in large part, aren’t using blockchain smart contracts because they operate in an isolated blockchain environment. In this respect, the greatest advantage of smart contract based commerce is also its biggest impairment.

To circumvent these technical and legal hurdles, and to unleash the full potential of the blockchain, Qtum introduces the Master Contract concept. Master Contracts allow DApps and smart contracts to trigger real-world, off-chain data inputs, auditable by a verified Oracle or the contracts mediator – while the contracts essential elements, such as participants and authorization structures, are secured on the blockchain itself.

This allows blockchain-based commerce to adhere to changing commercial rules and regulations, while interfacing with real-time data inputs from stock markets, weather forecasts, news agencies, etc..
Cooperating with a series of partners and third parties, Qtum aims to establish a smart contract hub, offering secure and thoroughly tested contract templates, tailor fitted for a multitude of industries and use cases, such as supply chain management, telecommunications, IoT, social networking, and more. With this, it will be easier than ever for established sectors and legacy institutions to interface with blockchain technology and enjoy their benefits
Conclusion
Smart contracts and DApps hold great potential for the future of both – the emerging p2p economy and the Internet sustaining it; but for them to reach mainstream adoption, decentralized applications have to be accessible, easy to use and operational on all major platforms used by the end consumer.

With this in mind, the Qtum team is building on well-established technologies like the bitcoin network, as well as on state of the art innovations, to produce a blockchain compatible with the major existing ecosystems, as well as cutting-edge capabilities these are lacking. Join us for a Qtum leap towards the future of mobile smart contracts and the mainstream adoption of decentralized applications.



https://bitcointalk.org/index.php?topic=1720632.msg17750792#msg17750792

vindyne8

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Re: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!
« Reply #27 on: February 06, 2017, 06:52:22 PM »

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Re: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!
« Reply #28 on: February 07, 2017, 01:14:21 AM »
Qtum Mixing Bitcoin & Ethereum Launching 'Proof-Of-Stake' Smart Contracts Platform:
http://www.forbes.com/sites/rogeraitken/2017/02/06/qtum-mixing-bitcoin-ethereum-launching-proof-of-stake...

rokib

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Re: Qtum - UTXO based POS Smart Contracts | TESTNET LIVE!
« Reply #29 on: February 07, 2017, 07:05:43 PM »
Qtum Press Update:




Leiphone.com republished the Forbes article, this is a well known site in China

http://m.leiphone.com/news/201702/sWO8ECMYwtrKLrHu.html





 

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