Hi, Ethereum does not function in the same way. Ethereum has an account-based model. So, when you receive and send funds, you have an account with your balance, and you add or subtract from that balance depending on if you're sending of receiving money. Bitcoin on the other hand uses the Unspent Transaction Output (UTXO) model. In Bitcoin you don't receive and send funds directly to an "account". Instead, an account does not really exist on the blockchain and instead you have unspent transaction outputs. Imagine it like a check from the bank. You have a check for $50 and you want to send $20 to someone. So, you would go to the bank, give them the $50 check, and then get a $30 check written out to yourself and a $20 check written to the person you want to send to. This is pretty much exactly how Bitcoin works and your "account" or wallet balance is rather the sum of how many outputs (checks) you own and can spend.
This is a big deal for a number of reasons.
1. The UTXO model is what Bitcoin uses, and thus Qtum will be compatible with existing processes and technology built for Bitcoin. This means companies that already use Bitcoin should have no problems or massive process changes to adopt Qtum, unlike Ethereum.
2. The UTXO model has the tried and proven SPV protocol for decentralized mobile and light wallets. There is currently no protocol for decentralized mobile and light wallets in Ethereum
3. The UTXO model has so far been proven to be more scalable for the long term, with it's ability to process transactions in parallel and easy method of trimming spent transactions from client node's copy of the blockchain
I'm sure there's more reasons, but the big thing that important right now about Qtum is that it will unify the Bitcoin and Ethereum communities and technology. Ethereum developers will easily be able to port their code to Qtum and gain all of the advantages of Qtum, while Bitcoin developers will easily be able to switch to Qtum while using familiar technology and begin writing powerful smart contracts on this platform.
Maybe I agree with etherum ...
This will be a great mix and cool
Hopefully qtum responded to etherum sir
Thank you.
and many say the current etherum be altcoin best at each forum. congratulations
Qtum will be able to run any dapps built on top of Ethereum and Bitcoin?
Yes. There are a few minor things (mostly stuff not used by traditional contracts) that may need to be changed in an Ethereum contract, but our intention is to remain as compatible as possible.
So I could build an Ethereum smart contract dApp and port it to Qtum and not have to deal with all the headaches we have had to deal with the last year with forks, attacks, and everything?
Yes, exactly, as well as interact with your smart contracts using mobile/light wallets through the SPV protocol