The Qtum Project, a Singapore-based blockchain initiative that combines aspects of both bitcoin together with Ethereum infrastructure to construct decentralized applications executable on mobile devices, has enlisted the back upward together with guidance of PwC. PwC, a network of firms inwards 157 countries that has supported diverse blockchain projects, supports the Qtum Project’s efforts to promote blockchain engineering scientific discipline alongside global describe concern sectors. PwC, which provides advice, assurance together with taxation services, volition provide feedback on a white newspaper together with on a proposed governance structure. Proof Of Stake Consensus
The projection executes smart contracts with a proof-of-stake consensus mechanism. It builds decentralized applications executable on mobile devices together with is compatible with major existing blockchain ecosystems, according to the project’s website.
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The Qtum blockchain combines a modified Bitcoin Core infrastructure with an Ethereum Virtual Machine version to merge the reliability of the bitcoin blockchain with the possibilities provided yesteryear smart contracts.
Qtum’s hybrid nature, combined with proof-of-stake consensus protocol, enables applications to endure compatible with major blockchain ecosystems together with offering native back upward for IoT appliances together with mobile devices.
PwC Sees Potential
“PwC sees enormous potential for blockchain to revolutionize describe concern practices equally nosotros know them, together with the theatre has made neat efforts inwards developing strategic together with technical capabilities to accommodate existing products together with services for the novel technology,” said CY Cheung, a fintech together with cybersecurity partner at PwC China. He said working with the Qtum Foundation, the architect of the Qtum blockchain, aligns with PwC’s goals.
The Qtum Foundation’s blockchain economic scheme white newspaper details its governance structure. The administration construction is designed to enable the projection to move yesteryear an open-source blockchain projection capable of coming together the needs of render chain management, social media, IoT, gaming together with other industries.
Goal: Smart Contract Platform
Patrick Dai, Qtum Project co-founder, said Qtum intends to move yesteryear a smart contracts platform for business. The projection volition larn inwards viable for industries to prepare practical applications on top of Qtum.
The projection envisions a hereafter consisting of automated describe concern practices together with seamless machine-to-machine communication.
“Having PwC, which has wide expertise across industries together with a global network, back upward Qtum volition assist us fulfill our mission,” said Dai.
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