Blockchain-based platform Qtum launches BTC atomic swaps to its mainnet

Blockchain-based platform Qtum launches BTC atomic swaps to its mainnet

Blockchain News
January 11, 2019 by XNews Editor 1
32
As mentioned in a press release published by Cointelegraph on January 9, the Blockchain-powered platform Qtum is launching Bitcoin atomic swaps.
Blockchain-based platform Qtum launches BTC atomic swaps to its mainnet

As mentioned in a press release published by Cointelegraph on January 9, the Blockchain-powered platform Qtum is launching Bitcoin atomic swaps to its mainnet infrastructure.

Reportedly, atomic swaps are a technology that facilitates the exchange of one cryptocurrency for another without any requirement of confidential third party or centralized exchange infrastructure.

The execution of Qtum to Bitcoin atomic swaps has been accomplished as it uses the Hash Time-Locked Contracts (HTLCs) technology and is built on the code of the open-source cryptocurrency Decred. As per the Qtum’s statement, HTLC is the best and a safe method for implementing the swaps.

As per the reports, the team has also revealed its ideas to issue “0 Value UTXOs,” which will permit the users that don’t possess Qtum tokens to interact with the smart contracts whereas a third party pays the fee.

According to the reports by Cointelegraph, February 2018, Qtum is specifically a cryptocurrency-centered platform that facilitates smart contracts and decentralized applications. At the time of press release, the own cryptocurrency token of Qtum is up 2.6% on the day, trading at nearly $2.39, as per the CoinMarketCap data.

The main differences of the Qtum in comparison with Ethereum (ETH) is that it is possibly the most prominent cryptocurrency platform that besides all other things it also supports smart contracts and DApps because the Qtum make use of the Unspent Transaction Output (UTXO), apparently, its blockchain allows more lightweight smart contract interactions.

In the month of December Cointelegraph reported that Qtum granted $400,000 to a research team of the Columbia University to fund the advancement of a smart contract programming language. The language known as DeepSEA is intended to support “consistent, reliable, and eventually – adoptable” Ethereum-style smart contracts.

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