Audit Date: 27 September 2022
ECOSYSTEM SCORE
27 September 2022
57
ALERTS
No Alerts
REVIEW NOTES
Sep 05, 2022

Ecosystem score is increased as per score factor of sections

Sep 05, 2022

Community score is increased as it having all community reach

Sep 05, 2022

Cloud Service is having good compatibilty

Sep 05, 2022

Add-On score is deceased as it having no Bridge

Sep 05, 2022

Documentation score is decresed due to lack of understability in skeleton code

Sep 05, 2022

Supporting lang. and SDKs low compatibility due to which score is decreased

Sep 01, 2022

Overall Ecosystem score increased

PERFORMANCE
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20
NODES

1,253 nodes

WRITE SPEED

N/A

READ SPEED

N/A

GAS FEES

N/A

UP TIME

N/A

PERFORMANCE MATRIX VALUE MONITORED AT
Discord Total Subscribers Online 282 subscribers
Discord Total Subscribers 8,921 subscribers
Telegram Err 15 err
Telegram Ppm 0 ppm
Telegram Views Per Post 3,964 views
Telegram Total Subscribers Online 277 subscribers
Telegram Total Subscribers 8,107 subscribers
Reddit Total Members Online 191 members
Reddit Total Members 17,700 members
Node Count 1,253 nodes
FOUNDATION TOOLS
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36
ESSENTIAL TOOLS
PROGRAMMING LANGUAGE SUPPORT
SDKs
DOCUMENTATION
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60
API DOCUMENTATION

Exists

100
NODE SETUP

Exists

100
SKELETON CODE

Exists

40
VALIDATOR NODES

Doesn't Exists

GRANT PROGRAM
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0
AVAILABLE GRANT

N/A

ADD-ONS
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64
THIRD PARTY SERVICES
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67
PROTOCOL SUPPORT
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40
ADOPTION
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100
DEVELOPERS

1

REPOSITORIES

1

COMMUNITY
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100

Overview

Since its invention, blockchain has offered various use cases and practical applications to developers and businesses. New protocols entering this Web3 ecosystem cater to specific use cases and the growing demand of users. However, some fail to be flexible and often lack high scalability and interoperability capabilities.

Acknowledging the various issues in the blockchain space and its industrial applications, the development team of Qtum chain delved into the fundamentals of blockchain and web3 to build and implement a series of technologies using the "Value Transfer Protocol" upgrade and other innovative solutions to construct a sustainable blockchain. It seeks to pioneer and be a leader with developers working on NFTs, metaverse, DeFi, and gaming infrastructure.

What is Qtum?

Quantum is a Singapore-based scalable blockchain that offers developers to utilize the benefits of both Bitcoin and Ethereum. Quantum blockchain, popularly known as Qtum, is an open-sourced public blockchain that leverages the best of blockchain predecessors to offer a refined ecosystem for developers and users. It seizes the simplicity and security of Bitcoin's UTXO model and the Ethereum smart contracts' convenience and flexibility. Qtum's native currency is known as Qtum.

Qtum addresses the inefficiencies of its predecessors using the Proof-of-Work algorithm by adopting a Proof-of-Stake consensus mechanism. PoS is a more effective, sustainable and energy-efficient consensus mechanism when compared to PoW, where large computational power is required to mine coins.

Benefits of Qtum

Fast - Qtum merges several layer-1 and layer-2 solutions to acquire "millions to billions" transactions per second. The layer-1 network of Qtum can presently handle around 1100 tps.

Stable - Qtum utilizes the EVM to offer a stable development platform for dApps and smart contract development.

Green - Qtum utilizes the PoS consensus mechanism, unlike the PoW-based blockchains and tries to decarbonize each practice and its global network of nodes.

Decentralized - The digital ledger of Qtum has no central authority or servers, no repudiation, and no censorship and is, thus, truly decentralized.

Architecture of Qtum

Account Abstraction Layer

The smart contracts of Qtum use Ethereum Virtual machine (EVM)that works with an account holding the wallet balance. However, Qtum transactions are formulated on Bitcoin's UTXO model that handles the wallet's balance regardless of individual transactions. Qtum utilizes an Account Abstraction Layer (AAL) method to seamlessly integrate the Ethereum and the Bitcoin-based model, as mentioned earlier.

The AAL interface isolates all the individual transactions to set forth a single account balance enabling smooth, smart contract operation and code reuse from smart contracts of Ethereum. This resulting EVM account model is easy for smart contract programmers to use. Moreover, an Account Abstraction Layer decouples applications from the underlying protocol. This ensures that the performance of the blockchain remains unhampered and lends the ability to add more smart contract capability in the future.

Decentralized Governance Protocol

Qtum utilizes a Decentralized Governance Protocol (DGP) that can seamlessly modify the blockchain parameter without disrupting the ecosystem. It uses smart contracts to regulate and update basic blockchain consensus parameters like block size, gas fees and other important features. DGP facilitates the upgradation of such blockchain parameters without needing a hard fork. However, DGP does not eradicate the need for hard forks when any major new features and functionalities are to be implemented in the network.

It gives power to its users by giving them access to the set of smart contracts implementing DGP.

Key features of Qtum

  • Trustless - Qtum adopts a trust policy in no one but the code. Cryptographic hashes enable independent verification of each transaction.
  • Permissionless - Qtum has no gatekeepers allowing anyone to join the network, run a node and participate in consensus.
  • Open-source - Qtum is an open-source network permitting anyone to review their source code and build their application.
  • Upstream Leverage - It leverages the best of both Bitcoin and Ethereum and can accommodate groundbreaking updates from both ecosystems.

Founders

Qtum was launched in 2017 by Patrick Dai, Jordan Earls and Neil Mahi.