Connect with us

Altcoins

Ethereum [ETH] Blockchain over Qtum’s – IAME Migration!

Simran Alphonso

Published

on

Source: Pixabay

Qtum is an open source blockchain venture that was created by the Singapore-based Qtum Foundation. Qtum is a crossbreed blockchain application stage. Qtum’s center innovation joined a fork of Bitcoin’s center, an Account Abstraction Layer considering various Virtual Machines which included the Ethereum Virtual Machine [EVM] and a Proof-of-Stake agreement signed for handling industry and utilize cases.

The team at Qtum believes that this enables Smart Contracts and Decentralized Applications to keep running on a recognizable establishment while offering a powerful domain for designers.

Today Qtum tweeted:

“I just published “IAME is Moving to Qtum””

Pamela Sandoval, a Twitter user commented:

“Great news. Well done qtum”

When one is building a blockchain venture with a long haul vision, picking the right blockchain is a vital key choice as not all blockchains have been created with the similar goals.

For IAME, their personality structure requires smart contract capacities which are bolstered by both Ethereum and QTUM. However, when working for cell phones, running a full node [downloading the entire blockchain] to work a smart contract is certainly not a feasible alternative.



For IAME, QTUM leads the pack over Ethereum on the grounds that QTUM utilizes UTXO that can use the simple payment verification [SPV] protocol. The SPV protocol operates with light clients that can be used on mobile devices to verify transactions without needing to run a full node. This means that one can technically execute a smart contract from mobile without blowing through storage or having to sync the latest blocks.

Furthermore, QTUM works segwit with 2mb block size and a block time of around 2 minutes. This enables QTUM to deal with 70 tx/s on-chain, and with tentative arrangements in the pipeline, the exchange throughput will be supported to 20,000 Tx/s through trustless off-chain channels, which will make smart contract activities feasible on a huge scale.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Simran Alphonso is a Journalist at Ambcrypto. She has a background in Financial Markets and holds expertise in Digital Marketing.

Altcoins

Bitcoin SV [BSV] gets hit with another reorg as multiple blocks get orphaned, including a 128 MB block

Akash Anand

Published

on

Bitcoin SV [BSV] gets hit with another reorg as multiple blocks get orphaned, including a 128 MB block
Source: Pixabay

Bitcoin SV [BSV] and its proponents have been making headlines over the past couple of weeks, either due to developments or because of comments made by its major proponents, Craig Wright, the chief scientist at nChain, and Calvin Ayre.

The network was also hit with several members of the cryptocurrency community alleging that the cryptocurrency itself is a sham without any use cases, as evidenced by its delisting on several popular cryptocurrency exchanges like Binance, Kraken and Shapeshift.

The latest news added salt to BSV’s wounds after it was revealed that the network went through another blockchain reorganization on a 128 MB block. This fact was pointed out by Nikita Zhavoronkov, the lead developer of Blockchair, who had tweeted:

“Whoops! $BSV has experienced yet another reorg, this time 6 (six!) consecutive blocks were orphaned (#578640–578645), this chain included a 128 MB block #578644 🤦‍♂️ The network was basically stuck for 1.5 hours, and this shows that even 6 confirmations are not enough.”

Orphaned blocks are valid blocks which are not part of the main chain. There are ways that they can occur naturally when two miners produce blocks at similar times or they can be a result of an attacker with enough hashing power using it for nefarious activities like reversing transactions.

A major reason why this reorg event made news was that a major 128 MB block was stuck in transaction, something that was not supposed to occur according to the initial claims made by the SV camp. Supporters of the cryptocurrency, however, have stated that despite being slower than promised, the transactions on the block settled faster than that on a Bitcoin Core block.



One supporter of BSV, mboyd1, tweeted:

“Orphaned blocks are a feature, not a bug”

To this tweet, Zyo, another cryptocurrency enthusiast replied:

“yes, but orphaning 6 blocks in a row is not good, that means that 6 confirmations is not safe. It’s a bug because the 100+ MB take way too long to propagate and validate. There is a reason why BCH doesn’t have [yet] 100+ MB blocks.”





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending