If you have been following the developments in blockchain technology, then chances are that you have heard of Qtum by now, a Singapore-based blockchain platform that is certainly unique in its own right.
What makes Qtum different from other blockchain platforms out there is its hybrid development model. Taking notes from two of the most popular blockchain networks in the world, Bitcoin and Ethereum, Qtum combines “a modified Bitcoin Core infrastructure with an inter-compatible version of the Ethereum Virtual Machine (EVM)”, allowing it to achieve results that neither of those blockchain networks can obtain individually.
For instance, by combining Bitcoin’s core and sturdy structure and the virtually unlimited opportunities that Ethereum brings with smart contracts, Qtum develops never seen before solutions on blockchain platforms for its partners.
If recent developments are any indication, then it is safe to say the world has started taking notice of this unique blockchain platform since its launch.
Just take the last week’s developments into consideration
Since last week, Qtum has joined hands with China’s Netflix counterpart; has initiated a blockchain research center with two tech giants in China; and has entered into a collaborative partnership with a cryptocurrency investment bank.
Collaboration with Baofeng
To cover the aforementioned points in a detailed manner, it was announced last week that Qtum has partnered with Baofeng Bokocloud – a video and audio streaming service in China – to develop, what will be, the first-ever blockchain consensus network (BCN) service.
Being one of the primary video players in the country and sporting over 200 million users, Baofeng will not just develop its own video distribution, copyright and payment protection and processing functions on Qtum, but will also provide the Qtum network the facility to run more than 50,000 full nodes on its Bokocloud service.
It is prudent to mention that the Bitcoin network currently has around 10,000 full nodes, with Ethereum having that number locked around 20,000 for now.
This partnership in itself, is a massive achievement for Qtum, but it is not stopping there.
Joining hands with the BTNfoundation and 360 Blockchain research center
It was also announced that Qtum will be collaborating with the BTN Foundation and 360 Blockchain Research Center in order to develop a blockchain research laboratory.
The initiative will be looking after new methods of utilization for the blockchain technology along with researching functions such as next-generation smart contracts, new consensus models, and decentralized storage.
The 360 Blockchain Research Center is spearheaded by Qihoo360 through a subsidiary named 360 Finance. Qihoo360 is China’s leading cybersecurity solutions provider.
Partnership with banca.world
Qtum will also work with Banca, where the decentralized, cryptocurrency investment bank will be building its platform on Qtum.
It was announced that through the use of multiple functions, the blockchain platform developed on Qtum for Banca will aim to “tackle problems faced by the financial industry.”
Banca’s core team is comprised of individuals from Wall Street and Silicon Valley. The decentralized investment bank aims to bring Wall Street to blockchain by the usage of big data and artificial intelligence (AI), among other functionalities.
In addition to the aforementioned partnerships, it was also reported through Nasdaq that Qtum is looking towards implementing an x86 virtual machine (VM) in order to support multi-language smart contracts.
It was reported that Jordan Earls, Qtum’s co-founder, aims to improve upon EVM by this planned x86 VM.
With this news of multiple projects and the planned upgrade, it certainly seems like Qtum is one to watch in terms of blockchain technology. We cannot wait to see what the project comes up with next and how it can work towards the betterment of the blockchain community by creating more opportunities during its journey of growth.