Qtum receives $1 million in funding, with many industry celebrities participating

On January 9, 2017, Qtum, the world's first smart contract platform based on the Proof of Stake consensus mechanism, received more than 1 million US dollars in investment. Investors include domestic Internet industry bigwigs, venture capital company executives, blockchain industry experts and several exchange managers.

Previously, Babbitt Information has reported on Quantum Chain many times: Quantum Chain is committed to building an Internet-based value transfer protocol and a development platform for decentralized applications, aiming to build a bridge between the Bitcoin ecosystem and the Ethereum ecosystem, and to build a bridge between the blockchain world and the real business world.

It is reported that the Quantum Chain Foundation has used the investment to develop the Quantum Chain platform and has made significant progress. The Quantum Chain development team has successfully run the Ethereum virtual machine on a fork of the Bitcoin core code (version v0.13), which is one of the biggest challenges of the entire project. In addition, Quantum Chain also supports the existing simple payment verification, namely the "Light Wallet" protocol, and will support the use of mobile devices. Subsequent development plans include the release of the Quantum Chain test network, the Spark test network, and will create Oracle and Data Feeds modules required for smart contracts.

Shuai Chu, the founder of Quantum Chain, mentioned:

“We have received support from many well-known figures and groups in the Bitcoin and Ethereum communities, which shows that Quantum is successfully uniting these two groups. In addition, Quantum is committed to developing its strength on the mobile side. So far, it has launched two community projects: Spring Mail: BiSMTP protocol that integrates the mailbox protocol, dedicated to turning every mailbox into a wallet and realizing a seamless payment experience based on the Internet; Micro Summer: integrating blockchain and social networking, integrating blockchain technology with social networks.”

Jordan Earls, blockchain security expert and core developer of Quantum, mentioned:

“We want to build a secure, scalable technology platform that leverages existing blockchain infrastructure, so we chose to combine the Bitcoin model with the Ethereum virtual machine to advance the development of blockchain technology.”

The financial supporters of the Quantum Chain project include: Chen Weixing, founder of Kuaidi Dache, Anthony Di Iorio, an early participant in Ethereum and CEO of Jaxx wallet, David Lee, professor at Singapore Management University, JeHan Chu, a Hong Kong blockchain technology advocate, Shen Bo, a blockchain technology investor, Li Xiaolai, a Chinese angel investor, and the heads of several mainstream exchanges in China.

Blockchain technology investor Shen Bo mentioned:

“For a long time, the blockchain community and the real business world have been running like a pair of parallel lines. I think Quantum is where they intersect.”

About Qtum : Qtum is an open-source value transfer protocol and decentralized application development platform, with development team members from many countries around the world. The Qtum Foundation is the decision-making body that promotes the project, with its headquarters in Singapore. In addition, the Qtum Foundation has hired one of the Big Four accounting firms to provide project management and financial process management services.