Topic: [ANN] (QTUM) - A Scalable Smart Contract Platform w/ Proof of Stake - page 167. (Read 525459 times)

Very cool, this is machine readable contracts on the blockchain? I read somewhere this is like "real" smart contracts that are valid contracts. Great to see this project on Qtum.

Agrello, an Estonian blockchain startup developing business-ready smart contract solutions, has announced that it has selected the Qtum blockchain as its infrastructure of choice for the company’s AI powered smart contract interface.

The London Summit 2017 is coming, get involved!

Agrello develops an intuitive AI powered interface, allowing users with no legal or coding skills to easily create, manage, and automate legally binding smart agreements which are both – stored as smart contracts on the blockchain, as well as translated to legally biding documents in natural English.

According to Agrello, their solution will allow individuals and businesses to use smart contracts as a substitute and enhancement to standard paper contracts – a practice until recently regarded as impossible due to the complicated and obfuscated nature of smart contract technology.
Hando Rand

Explaining the company’s choice, Hando Rand, Agrello Project Lead and co-founder stated: “We’ve been searching for over a year to find a blockchain platform that would fit our needs. Qtum allows us to build a mobile-compatible and scalable smart contract solution, and hence is our technology of choice.”

Agrello’s decision to base its technology on Qtum was announced Wednesday in Shanghai, at an Qtum event. The Qtum project has recently raised $15.6 million in one of the industry’s fastest token crowd-sales to date, and seeks to open its platform for public use in Q3 this year.

AI-Powered Smart Contract Interface Built on Qtum Blockchain
Agrello, an Estonian blockchain start-up developing smart contract solutions, has announced that it has selected the Qtum blockchain to be its infrastructure for the company’s AI-powered smart contract interface. The company has created an interface using AI, allowing users with no legal or coding skills to create, manage, and automate legally binding smart agreements which are both stored as smart contracts on the blockchain, as well as translated to legally binding documents in natural English.
According to Agrello, the solution will allow individuals and businesses to use smart contracts as a substitute and enhancement to standard paper contracts. The decision to base its technology on Qtum was announced yesterday in Shanghai, at an Qtum event. Agrello’s AI smart contract interface corresponds with Qtum’s Smart Contract Lifecycle Management solution, detailed in Qtum’s Whitepaper, which proposes an intuitive workflow to derive smart contract code from human-readable agreements and manage them in real time.More

Subsection 4: 

SPV extended to support syncing contract state without full chain download


The Simple Payment Verification protocol was created before the Ethereum Virtual Machine, so it needs to be extended to allow interaction with Smart Contracts, and to allow verification and validation of a contract’s state. In order to release a wallet that does not require the entire blockchain to be downloaded (only the headers) and can control a Smart Contract, the wallet needs to synchronize the Qtum contract state.


The SPV protocol does not keep track of Smart Contract State, which is paramount to our goal here. This addition to SPV allows developers to create wallets that can validate both transactions and smart contract state, by only downloading the block headers and the interesting transaction or contract state data.

yes why not after mining and full effort over it you will be succeeded.

No, they do not. They want to sell you tokens at an inflated price and disappear with money and forget about the project.

Just curious if the ICO funds have been proven yet? Any tx ids or addresses provided? If not, do you plan on ever providing this information? Thanks.

We are building a layer that allows the Ethereum Virtual Machine to operate within a UTXO blockchain. This requires us to modify some Bitcoin Script opcodes, and make adjustments so the Ethereum Accounts model can communicate with UTXO's.


Here's a quick diagram:







There's more information about this on our website: https://qtum.org/en/account-abstraction-layer-overview




"Account Abstraction Layer Overview

Building on bitcoins reliable and proven-to-deliver blockchain, Qtum stacks its Account Abstraction Layer, allowing the Bitcoin Core 0.13 blockchain to seamlessly interact with the Ethereum Virtual Machine (EVM). With this innovation it is now possible to execute smart contracts and run decentralized applications, simply and securely, in environments that were previously out of reach for Ethereum, combining the endless possibilities provided by smart contracts with the stability and maturity of the bitcoin ecosystem.

Until now, attempts to implement smart contract solutions on top of the bitcoin blockchain have had issues, been lackluster, or failed to break into the mainstream business market. This is primarily due to the fact that the bitcoin blockchain employs an Unspent Transaction Output (UTXO) scheme to associate coins with addresses, rather than the easier to understand, but otherwise problematic, account-based model used by Ethereum.

An account based model works pretty much the way one would imagine:  if Alice has 10 tokens, and sends 5 of them to Bob, who has zero tokens; 5 tokens are simply subtracted from Alice’s balance and added to Bob’s, who now owns 5 coins.  On a UTXO blockchain, however, Alice does not directly hold 10 tokens, but a series of outputs, which are collections of coins resulting from previous transactions.

In such a model, instead of owning 10 tokens, Alice would, for example, hold 3 outputs: (a) consisting of 6 coins, (b) consisting of 2 coins, and (c) consisting of another 2 coins. In this scenario Alice couldn’t simply send 5 coins to Bob, but instead she (or her wallet, for that matter) would have to pick the best-suited output and receive “change” in return (a process called coin picking). In our example this means that Alice would transfer output (a), consisting of 6 coins, and receive 1 coin back as “change”. This “change” is what is called the Unspent Transaction Output, or UTXO. After the transaction Alice would still hold 3 outputs, this time (a) consisting of 1, while (b) and (c) remain 2.

Employing such a seemingly complex bookkeeping scheme allows the Bitcoin blockchain to support Simple Payment Verifications or SPVs. The SPV protocol enables the support of light wallets, which are wallets that can interact with the Bitcoin network in a decentralized and trustless manner, without having to download the entire Bitcoin blockchain. This property is immensely useful for mobile applications or in any low bandwidth/storage environment.

Until now, Ethereum smart contracts couldn't execute in such environments exactly because Ethereum’s account based blockchain does not provide a SPV analog. To solve this, Qtum builds its decentralized application platform on the proven-to-deliver Bitcoin blockchain and introduces the Qtum Account Abstract Layer, which serves as a communication layer between the Bitcoin Core 0.13 protocol and the EVM.

To achieve this, Qtum has extended the Bitcoin 'Script' language, adding 3 ‘opcodes’ so that it functions as a vehicle to transport code to the EVM, while adding special processing conditions, executing these EVM-using transactions immediately when added to the blockchain - allowing the EVM to operate within a UTXO environment.

In order to relieve Qtum smart contracts from the need to perform coin picking for every transaction, Qtum comes coded with an automated, generic coin picking algorithm which allows contracts to ignore the UTXO mode of operation, while functioning normally, as if deployed in an account-based environment. This method is what enables Qtum to be compatible with pre-existing Ethereum smart contracts, allowing them to be executed on Qtum with little to no change to their code.

For more information about Qtum’s architecture in general, please read the blog post or review our Technical Whitepaper.    "





You can also see some press articles where this was briefly discussed:


https://www.forbes.com/sites/rogeraitken/2017/02/06/qtum-mixing-bitcoin-ethereum-launching-proof-of-stake-smart-contracts-platform/#7534ad71775b

The UTXO model is suitable for applications where each output is owned by exactly one individual otherwise it will break down. This works for currency models like Bitcoin, are you planning to use a hybrid model for general purpose smart contracts in Qtum?

Subsection 3:


Should be stable, but features and RPC layer subject to change from community feedback

The Qtum Test Network is a lead up to the Main Network release. It’s designed to attract interested developers. Service providers that plan to adopt Qtum into their business model will be able to analyze the code so they are prepared for the Main Network release in September 2017.



The RPC layer mentioned in this section is the same part 1, but this section is about the RPC commands directly related to calling on the Qtum Daemon. Some of the typical BitcoinD calls, like “setgenerate” will obviously be removed, as this allows the user to mine for tokens with their computer, which is not needed for Qtum. The standard RPC commands will be available, but the Qtum developers may choose to add some that BitcoinD does not currently have. This is the best time for third party developers to make suggestions.

Does that mean that all the exchanges that were kind enough to allow their platform to be use to facilitate Qtum's ICO have yet shown interest in listing the Qtum token come September - at the earliest - when it's supposedly gonna be made available?

Subsection 2:

Designed for developers, not consumers

Stability is not the major concern at this point, the point of a Test Network is to find issues and improve the code, thus leading to a stable release. The Qtum developers will give test tokens to any interested party, allowing them to implement their ideas, and have the gas to execute contracts. These test tokens will hold no value  and are not the same as the tokens which will be given to participants of the crowdsale.

Interested parties that have been planning to develop on the Qtum platform will now be able to learn and test their ideas. Service providers, who have developed their own products, can start to explore if they will have to modify their systems to provide Qtum.

For example, if an exchange would like to list Qtum, there are so many factors that come into effect. They need to make sure their accounting systems are compatible with the various RPC calls, and may need time to adjust their platforms.

Nice update, Thank you.

Development Update:



Over the last few weeks, the Qtum mobile team has been work on the lite wallet Smart Contract functions. Yesterday, we produced some screenshots that showcase what to expect in the months to come.

Here are some details:


1, The mobile wallet is pre-alpha, operating in a very early Test Network

2, The screenshots show that you can create your own tokens as part of a contract, to launch your own project in 3 steps.

3, The SPV integration is not yet complete, it's all going through a centralized server right now. This will be ready after the Main Network is released.

4, We are taking suggestions on which Smart Contract function you would like included in this software.


thank you!

We spoke with Bittrex and Poloniex to see if they'd host our crowdsale, but Poloniex said they do not do this anymore. Our lawyers advised us that US citizens should not participate in the Crowdsale, so we stuck with Chinese and a Canadian exchange.

It's an open source project, if any exchange wants to list it, that's their prerogative. So far we have not been contacted by any other exchanges.

do you have a plan to enter big exchanges this year?

Nobody seems to like for-profit suckers. Look at zcash and zooko to know why. Everyone thinks their ambition is to reap profits therefore no one wants to touch stuff they produce as they are greedy asses obsessed with money. That's why I and a half of my other identities are working for a gigantic for-profit tokio-based blockchain company.

Qtum Roadmap Breakdown:

Subsection 1:



Potentially incomplete GUI, full RPC methods for contract interaction


A potentially incomplete Graphical User Interface (GUI) refers to the ‘frontend’ Qtum wallet. A Daemon is essentially a ‘service’ that runs on a server, it’s usually shortened to “D” meaning that Qtum Server or Quantum “Daemon” would be shortened to simply “QtumD”. The GUI is a wrapper that contains a compiled binary of the Qtum source code. This is usually done using the QT framework, allowing users of various operating systems to complete tasks, such as: transfer tokens, control smart contracts, create new accounts, etc. Some operations will not have graphical functions, these are usually RPC commands that require a console view, and will be operated using command line interfaces, such as viewing the network difficulty.


When the Qtum source code is compiled and permissions are assigned, the Daemon process can be started. This allows the entity running this to call on RPC commands, which are defined as “Remote Procedure Calls”. Many people who use Bitcoin wallets may not realize they already use these calls frequently, when they send and receive coins in their QT wallet. The purpose of a GUI wallet is to eliminate having to compile source code and having to learn the various RPC functions. The nature of UTXO blockchains allows Qtum to be very familiar to users who have experience with Bitcoin and other projects that fall into its family, like Litecoin.



This section of the Roadmap states that the Qtum testnet will be ready to compile, with full RPC methods for interraction with Smart Contracts that interract with the EVM (Ethereum Virtual Machine).

Can you provide a link or direct quote of the rule stating that 5M is the lifetime limit? I've googled and haven't found this anywhere.  It would seem like a very asinine rule to impose a 5M lifetime limit on a non profit.  Why would any country have such a rule?

Seriously, I don't give a rat's ass if Qtum is a nonprofit entity or not. But it was Qtum that came to this space declaring from the get-go that they are a nonprofit, going as far as linking to articles stating the same, even pointing to their charter in Singapore further proving such. Then Qtum said endlessly that they are not an investment vehicle and that their ICO offering should not be considered such. The exchanges were used for only one purpose - to sell the tokens. The results of the sale garnered Qtum U$15M, over U$10M over the $5M SGD that's allowable by Singaporean law according to the nonprofit charter Qtum provided.

Take the above plus Patrick Dai's name change so to mask his past dealings in this space and you have a scam. At one time on this forum, only 10% of the all the above would've more than enough to have dozens upon dozens of users echoing the same sentiment, further providing their own discovered proof so to forever kick these bastards otta this space forever. But now it's an accepted practice.