Arm Virtual Machine (Qtum) Definition
The Arm Virtual Machine (Qtum) refers to the hybrid blockchain platform, Qtum, that aims at bridging the gap between Bitcoin and Ethereum blockchain communities. The Qtum platform presents new opportunities for smart contracts and decentralised applications through a unique proof-of-stake based approach.
Arm Virtual Machine (Qtum) Key Points
- The term originates from Qtum’s intent to create a secure smart contract platform that will operate effectively on lightweight devices, such as mobile devices, using an ‘Account Abstraction Layer’.
- Arm Virtual Machine is part of Qtum’s strategy to increase the accessibility and scalability of smart contracts.
- Qtum employs a hybrid Bitcoin/Ethereum model, combining Bitcoin’s consistent blockchain model with Ethereum’s flexible smart contract functionality.
- Qtum uses a proof-of-stake model, ensuring a greener, more economical approach to blockchain validation.
What is the Arm Virtual Machine (Qtum)?
Qtum is a blockchain application platform. Born from a fork of Bitcoin and Ethereum, it features an identify module, oracle and data feeds, and a mobile-first approach. This mixes the reliability of Bitcoin’s never-hacked blockchain with an intercompatible version of Ethereum Virtual Machine (EVM), giving it enormous potential for business use.
Why was Arm Virtual Machine (Qtum) created?
Qtum was designed due to the need to create a platform that combines the consistent blockchain structure of Bitcoin with the versatility of Ethereum’s smart contracts. It was built to facilitate the broader adoption of blockchain technology which would otherwise be impeded by the technical barriers of incumbent blockchain platforms.
Who created the Arm Virtual Machine (Qtum)?
Qtum was created by Singaporean Qtum Foundation. The team is led by Patrick Dai, who envisioned a value transfer protocol that takes advantage of Bitcoin’s stable blockchain structure and Ethereum’s smart contract functionality.
When was the Arm Virtual Machine (Qtum) created?
The Qtum project was announced in March 2016. At this time, the team released the concept of Qtum and a roadmap for the project, which included the development of the new Arm Virtual Machine.
How does the Arm Virtual Machine (Qtum) work?
Qtum makes use of the Bitcoin Transaction model with the Ethereum Virtual Machine, building a stable system for transactions. The Arm Virtual Machine allows the deployment of smart contracts on mobile and IoT devices, making blockchain technology more accessible and practical for everyday users.
Qtum’s blockchain aims to be accessible to established sectors, ushering a new era of blockchain utility with its unique mobile-focused approach.
