2018 C.E.C Global Blockchain Meet-up – Korea, was successfully held on November 10 in Seoul, South Korea. Zhong Wenbin, Chief Development Engineer at Qtum Chain China, was invited to attend the conference and delivered a speech on behalf of his team.

The conference was co-organized by Brink Asset and Babi Finance and invited nearly 200 industry celebrities, project representatives, investment institutions and top Korean media to the lively meet-up. All the speakers gave very wonderful presentations for the attendees, introduce the current blockchain market, analyzing application scenarios for blockchain technology, and exploring hot topics such as how blockchains empower the real economy.

As an invited guest, Zhong Wenbin, Chinese Lead Developer at Qtum Chain China, presented a blockchain feast to the blockchain lovers on-the-spot beginning with Qtum’s technological innovations.

Zhong Wenbin, obtained his bachelor’s degree from Shanghai Jiao Tong University and his master’s from the Chinese Academy of Sciences. He is currently the Chinese Lead Developer of Qtum, mainly responsible for the development of Qtum Core and Qtum x86 virtual machines. He has a relatively deep understanding of basic blockchain principles. Prior to joining Qtum, he worked for SYNOPSYS as a senior R&D engineer. He has more than four years of experience in large software development.

Qtum is the first PoS smart contract platform that integrates the Bitcoin UTXO model with Ethereum Virtual Machine (EVM), connecting Bitcoin and Ethereum Ecology using a newly designed Account Abstraction Layer (AAL). In other words, Qtum is actually a safe, reliable system and platform that is compatible with the Ethereum community and Bitcoin system. Qtum is designed for stability, modularity and mutual compatibility, with the aim of becoming the most important tool for developing reliable decentralized applications and a bridge between blockchains and the real business world.

Qtum’s founder, Patrick Dai, has also made outstanding contributions to the blockchain field and was listed one of the 30 under 30 by Forbes China in 2017. The Qtum team members all have strong backgrounds, brings together developers from the Bitcoin and Ethereum community, as well as talent from well-known companies around the world, such as Baidu, Alibaba, Tencent, and Nasdaq.

Zhong Wenbin shared Qtum’s technical innovations and main network performance, as well as their future goals and development priorities, with blockchain enthusiasts. He also analyzed implementation of Qtum’s blockchain application scenarios for the audience, and how Qtum can help and promote the progress of blockchains. Finally, he expressed hope for the blockchain industry to empower traditional industries.

Qtum’s Technical Innovation:

The Qtum utilizes a PoS consensus mechanism that has a lower entry threshold and is more resistant to 51 attacks, allowing a greater number of ordinary people to become part of the Qtum network’s full node and participate in the maintenance of the blockchain. Qtum’s core combines Bitcoin’s UTXO model with Ethereum Smart Contract, integrating both of these ecosystems with an innovative Account Abstraction Layer (AAL), while retaining Bitcoins safe and stable currency, thus largely resolving the problem of blockchain scalability.

In addition, Qtum’s Decentralized Governance Protocol (DGP) enables dynamic adjustment of various blockchain parameters, both improving the efficiency of blockchain management, and greatly reducing the risk of Hard Fork. DGP is expected to provide an effective technological support for Qtum x86 Virtual Machine and the Qtum Corporate Edition in the future.

Qtum’s Main Network Performance

Since the Qtum main network was released in September of last year, Qtum has more than 7,000 full nodes during peak times, the third largest number for any decentralized network in the world, second only to Ethereum and Bitcoin. The largest peak in its history saw more than 18,000 transactions processed and more than 8,000 contract calls.

Qtum community developers have been working since the project began, sparing no effort to optimize the performance indicators of the main network and continuously improve Qtum’s various products. 46 upgraded versions of Qtum core were released and the codes were submitted more than 19,000 times.

Goals and Development Priorities:

• The Qtum x86 Virtual Machine supports multi-language smart contract programming and will provide a more convenient developing environment for many blockchain developers, support various mainstream programming languages, and resolve the technological bottleneck regarding the development of decentralized applications.

• The Qtum Enterprise Version (QtumX), utilizes a PoA consensus mechanism with more powerful innovative application properties, significantly improves transaction processing capability, and is seamlessly compatible with Qtum technology, meeting the needs of businesses and governments.

The Meet-up’s Korean debut this year, allowed more customers to get a sense of the technological strengths and commercial implementability of the Qtum. Trust that in the near future, Qtum will continue to innovate, as well as empower the traditional economy.

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