Review on Qtum by onur bln

Name: Qtum
Item: Qtum
Rating: 3

October 22, 2020

Revain

Before the birth of Bitcoin, global information transmission was achieved through the Internet's
TCP / IP (Transmission Control Protocol / Internet Protocol) protocol to achieve high-speed and
low-cost transmission. But as the communication technology developed (Internet, IoT, VR / AR),
people and devices interaction methods have become more diversified and more assets are digitized
or tokenized. Simply sharing and transmission of information cannot meet the demands of economic
and social development, so when assets are digitalized or tokenized, people pay more and more
attention to value transfer and how to transfer these assets and value point-to-point.
On October 31, 2008, Satoshi Nakamoto published the first Bitcoin white paper, "Bitcoin: A
Peer-to-Peer Electronic Cash System ", and proposed the value transfer through the decentralized
Bitcoin network. In the Bitcoin system, participants throughout the network directly control the
transactions, and both parties to the transaction can complete the transaction without establishing a
trust relationship. Blockchain technology has changed the way we acquire and share information,
creating a new distributed, peer-to-peer ecological society.
Since the Bitcoin code was open-sourced in 2009, many blockchain projects have appeared in the
community. Some projects are committed to becoming a universal smart contract and decentralized
application platform, and the blockchain industry is developing these new technologies also with an
industry application perspective. The growth of blockchain faces many challenges, which are mainly
reflected in the following aspects:
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Pros

an open-fronted platform
proof of compensation
Qtum's Account Abstraction Layer separates applications from the underlying protocol, maintaining the performance of the blockchain and giving it the ability to add more smart contract capabilities in the future.

Cons