Overview

Qtum is a decentralized blockchain application platform capable of running Smart Contracts on multiple virtual machines, with Proof-of-Stake consensus.

Project stage

Only a whitepaper

Detailed description

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. The 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 platform with Smart Contracts that execute as part of an Unspent Transaction Output (UTXO).

The Qtum Blockchain (“Qtum”) is committed to develop an open source ecosystem for the blockchain community different from that of Bitcoin and Ethereum. It utilizes a Value Transfer Protocol (“VTP”) to achieve the transferring of value from peer to peer and to build up a decentralized application platform, which brings blockchain technology into the financial services, Internet of Things (“IoT”), supply chain management, social media, gaming and other industries. Innovative technology, comprehensive governance structure and board applications give Qtum advantages over Bitcoin and Ethereum as a public.

Problem

  1. Lack of a new and more capable Smart Contract platform. The lack of interactions with real world data has resulted in the limitations of implementing Bitcoin and Ethereum into industries; 
  2. Compatibility of different blockchain technologies. For example, Bitcoin is based on the UTXO model, which is not compatible with the Ethereum’s Account model; 
  3. Inflexible consensus mechanism. Different participants in the public blockchains and consortium blockchains require different types of consensus mechanism;
  4. Lack of industry compliance considerations. For example, existing blockchain systems are not able to fully meet the regulatory requirements such as the Anti-Money Laundering (“AML”) and Know-Your-Customer (“KYC”) in the financial industry; 
  5. Current blockchain systems operate as closed systems. At present, most of the Smart Contracts are triggered by the blockchain system itself, lacking an interaction with the real world.

Solution

We hope to build an entirely new blockchain ecosystem, Qtum, as an alternative option for VTP in the world and to move the ease of use of the entire blockchain industry one step forward. 

Qtum is based on the UTXO model and uses the Ethereum Virtual Machine (EVM) to achieve the compatibility between Bitcoin and Ethereum for public blockchain. It utilizes Oracle and Data Feeds, in conjunction with the logic of regulation, to bridge the real world to the blockchain world.

Features

The blockchain made ready for business
Separating the settlement and computation layers of blockchain allow for greater flexibility. Qtum’s stacked approach enables multiple virtual machines or run environments to operate on top of the blockchain.

Expanding the smart contract ecosystem
QTUM is about to revolutionize the way Smart Contracts are viewed, developed and used. With the x86VM, QTUM will be the first blockchain platform to allow next-gen DAPPS become a reality. Developers will be able to build Smart Contracts for QTUM using mainstream languages.

Mitigating & solving scalability
Qtum employs a decentralized governance protocol allowing for blockchain parameters like the block size, block time, gas schedules, and the minimum gas price for contracts to be modified without requiring a fork. Additionally, the Qtum team is working diligently on lightning networks & payment channels to allow for 20,000+ tps.

Proof of stake mining
Qtum employs a proof of stake consensus protocol that allows anyone with as little as one qtum to help secure the network. Our current Smart Stake Protocol is based on PoS v3.0 with some mutualized block reward features to increase the security of our smart contracts platform.

Keeping The Blockchain Decentralized
From Qtum’s consensus algorithm to our support of the Simple Payment Verification (SPV) protocol, our goal is to keep the network decentralized and bring smart contracts to everyone, including light clients in low bandwidth environments.

Show details

Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : QTUM
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 51,000,000 QTUM
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Own blockchain (QRC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Currency token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :100,000,000 QTUM
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :51,000,000 QTUM
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :BTC, ETH,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :No
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :No
    Get details
  • Token and Funds Distribution

    Token distribution date

    NA

    Unsold tokens

    NA
      • Token Distribution

    Sale schedule

    Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
    Public sale — Ended
    12 Mar 00:00 UTC
    17 Mar 23:58 UTC
    0.3 USD No - Uncapped 51,000,000 QTUM
    • Team

      • Patrick Dai photo
        Patrick Dai
        Co-Founder
      • Neil Mahi photo
        Neil Mahi
        Blockchain Architect
      • Jordan Earls photo
        Jordan Earls
        Core developer
      • Miguel Palencia photo
        Miguel Palencia
        Chief Information Officer
      • Yunqi "Caspal" Ouyang photo
        Yunqi "Caspal" Ouyang
        Web developer
      • Baiqiang Dong photo
        Baiqiang Dong
      • Weiyu Qi photo
        Weiyu Qi
      • Jun "Codeface" Chen photo
        Jun "Codeface" Chen
        iOS Developer / Product Manager
      • Huaming He photo
        Huaming He
      • Wenbin Zhong photo
        Wenbin Zhong
      • Yan Xuan photo
        Yan Xuan
      • Howard Yeh photo
        Howard Yeh
      • David Jaenson photo
        David Jaenson
      • Stella Kung photo
        Stella Kung
      • John Scianna photo
        John Scianna
      • Brett Fincaryk photo
        Brett Fincaryk
      • Natalie photo
        Natalie
      • Mark Cen photo
        Mark Cen
      • Bely photo
        Bely
      • Danilo Shan photo
        Danilo Shan
      • Phoenix Lu photo
        Phoenix Lu
      • Jarvis Qian photo
        Jarvis Qian
      • Susan Song photo
        Susan Song
      • Mia Wu photo
        Mia Wu
      • Tiya photo
        Tiya
      • Yi Zheng photo
        Yi Zheng
      • Alex Dulub photo
        Alex Dulub
      • Alexei photo
        Alexei
      • Anzhy photo
        Anzhy
      • Alexandra photo
        Alexandra
      • Weixing Chen photo
        Weixing Chen
        Backer
      • Xu Star photo
        Xu Star
        Backer
      • David Lee Kuo Chuen photo
        David Lee Kuo Chuen
        Backer
      • Bo Shen photo
        Bo Shen
        Backer
      • Ash Han photo
        Ash Han
        Backer
      • Jehan Chu photo
        Jehan Chu
        Backer
      • Lihua Yi photo
        Lihua Yi
        Backer
      • Jeremy Gardner photo
        Jeremy Gardner
        Backer
      • Anthony DiIorio photo
        Anthony DiIorio
        Backer
      • Matthew Roszak photo
        Matthew Roszak
        Backer
    • Advisors

      • Jeffrey Wernick
        Advisor
      • Roger Ver
        Backer

    Roadmap

    • Jun 2017
      Testnet Release

      Potentially incomplete GUI, full RPC methods for contract interaction. Designed for developers, not consumers

    • Sep 2017
      Mainnet release

      GUI for smart contract interaction in wallet. Stable RPC layer for developers.

    • Qtum integration and API release

      APIs for interaction with smart contracts for JavaScript, iOs and Android. Release of Qloha, a WeChat wallet for mobile use. Release of SpringMail, email integration for Qtum. Smart contract lifecycle management.

    • 2018 and beyond
      Extending Qtum for the future

      Each extention will be formally evaluated and timeframe determined with community input guiding priorities. Adding new features and power to the Qtum AAL. First Class Oracles - Native Oracle support on the blockchain beyond standard smart contracts. Support of community projects built on Qtum.

    • New VM implementations on Qtum

      Adding new VMs beyond EVM. eSML, a new smart contract language with formal verification.

    Activity