The blockchain technology designed as a hybrid of Bitcoin and Ethereum to offer a valid transfer protocol that supports dapps and smart contracts, Qtum, was recently pronounced the best decentralized application platform at “Forensic 2019 Blockchain Value List” staged to commemorate the 10th anniversary of Bitcoin.
As if that was not enough, the cryptographic project today unveiled a mind-blowing upgrade to make the network stand imposingly in the space. Qtum foundation, in a release announced the initiation of Mainnet Ignition v0.17.1 to elevate Qtum core to Bitcoin core 0.17.1, as well as other improvements.
While the previous upgrade – v0.16.2 was targeted at improving the security of the network, V0.17.1 is a transformational development dedicated at fixing of bugs.
Qtum, on Github highlighted some of the main features implemented in Qtum Ignition as:
- Ethereum Virtual Machine for compatibility of most of the current Solidity based smart contracts.
- An optimized Proof of Stake implementation smart contract.
- A decentralized Governance Protocol that permits modification of network parameters without hard fork.
- A dapp development made easy scheme – Regtest mode, which introduces automatic staking of blocks every 30 seconds.
Qtum: Best Decentralized Application
Represented by the chief development engineer of Qtum Quantum Chain in China, Zhong Wenbin, the blockchain technology was awarded the most valuable decentralized platform at the Forensic 2019 Blockchain Value List which took place in Hangzhou, China.
Zhong Wenbin at the conference spoke about the problems blockchain technology is facing in 2019 as a triangle problem.
Wenbin enquired that if the problem can be solved, why then is it tagged an impossible triangle? He added that in his own belief, maintaining balance between efficiency and fairness is paramount as decentralization means fairness.
While appreciating the organizers of the event for the award, the respected engineer ended his statement by enjoining blockchain practitioners to remember the initial intention of blockchain technology, and make sure the technology is used to lay foundation for future businesses.
Co-sponsored by Babbitt and Token Insight, the event also hosted other who’s who in the industry like Bibox co-founder Ma Wei, BTC.com COO Hu Jing and Cobo founder Shen Yu, amongst other.