Qtum Unveils Proof-of-Stake Smart Contracts Platform

The Qtum Foundation has announced the launch of Sparknet, the public test of its blockchain platform, combining advantages of Bitcoin, Ethereum’s Virtual Machine and proof-of-stake consensus at an event in Shanghai.

Qtum operates according to the Unspent Transaction Output (UTXO) model, which ensures consistency in transactions and the traceability of tokens. At the same time, a virtual machine for smart contracts is layered on top of Qtum’s blockchain, which presents a best-of-both-worlds architecture for the construction of decentralized mobile applications and other blockchain-based ventures to developers.

 

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