The Singapore-based Qtum Foundation announced that it is working alongside global fiscal services consultancy PwC to assist fuel blockchain adoption amidst international businesses. The Qtum Foundation is developing the Qtum blockchain, an open-source value transfer protocol as well as decentralized application platform for businesses that executes smart contracts using a proof-of-consensus mechanism. The Qtum BlockchainAs component subdivision of the cooperation betwixt the ii firms, PwC provided input for Qtum’s newly released whitepaper titled “Smart-Contract Value Transfer Protocols on a Distributed Mobile Application Platform,” which explains the technical aspects of how its novel blockchain platform works. The whitepaper was authored past times Qtum’s co-founders Patrick Dai, Neil Mahi, Hashemite Kingdom of Jordan Earls as well as the project’s Scientific Advisor MD Alex Norta. It details how Qtum’s blockchain volition allow for mobile usability, how it volition live on able to interact alongside the Ethereum Virtual Machine to enable smart contract execution as well as how smart contract lifecycle administration volition live on applied to amend safety past times allowing smart-contract collaboration, negotiation, review, as well as tracking.The Qtum blockchain volition allow lite wallets running on mobile outcry devices to interact alongside DApps as well as smart contracts. It volition back upwards the uncomplicated payment verification (SPV) protocol therefore that transactions tin ship away live on signed using a mobile device as well as Internet of Things devices tin ship away too live on operated as well as integrated using smart contracts. Qtum’s Account Abstraction Layer volition allow interaction betwixt the Ethereum Virtual Machine as well as the Qtum’s UXTO-based Blockchain as well as other potential virtual machines inwards the future. Also, past times using a UTXO platform, smart contracts are given to a greater extent than functionalities, flexibility as well as traceability, compared to pure Ethereum-based smart contracts. “Qtum aims to revolutionize line of piece of job organisation processes as well as the agency that line of piece of job organisation interact alongside their customers past times making smart contract engineering scientific discipline mobile as well as practical. The SPV protocol allows smart contracts to motion from servers as well as laptops, into IoT as well as mobile devices,” said Earls.The whitepaper too addresses potential safety concerns, which were highlighted due to the Ethereum DAO compromise of terminal year. Qtum volition utilisation Smart-Contract Lifecycle Management which allows for the collaboration, reviewing, negotiation, as well as the tracking of smart contracts across organizations past times all parties to found trust through active safety vetting. Supporting a Stable Project Governance StructurePwC has too supported Qtum inwards creating its novel projection governance structure, which volition allow Qtum to overstep 1 of the largest open-source distributed ledger projects that tin ship away run into the requirements of a wide attain of industries, such equally fiscal services, render chain management, gaming, social media, Internet of Things, as well as more. “PwC has helped the Qtum Foundation setting upwards our governance model, projection management, as well as peril management,” Qtum co-founder Patrick Dai told Bitcoin Magazine. “In the time to come nosotros project design on expanding our cooperation alongside PwC to assist Qtum expand our attain as well as adoption of blockchain technology,”CY Cheung, Fintech as well as Cybersecurity Partner of PwC China stated: "PwC sees enormous potential for blockchain to revolutionize line of piece of job organisation practices equally nosotros know them, as well as the theatre has made smashing efforts inwards developing strategic as well as technical capabilities to conform existing products as well as services for the novel technology. We are excited to larn involved inwards the era of conception as well as assist companies capture the opportunities as well as benefits brought past times the novel technology. Working alongside the Qtum Foundation aligns alongside our goal." The adjacent pace for the Qtum projection volition live on conducting an initial money offering to fund the farther evolution of the platform. After the crowd sale, farther testing of the Qtum blockchain volition live on conducted earlier the platform volition overstep live. “Our crowd sale starts on March 16th, as well as subsequently the adjacent steps for Qtum volition live on to consummate the testnet from the Qtum examination net, have feedback from the community on testing, as well as therefore to launch the mainnet of the Qtum blockchain,” Earls told Bitcoin Magazine.The post service Qtum Blockchain Gains Support From PwC; Releases Whitepaper appeared starting fourth dimension on Bitcoin Magazine.
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