With many cryptocurrencies now available, it is obvious that competition is increasing daily with all concerned parties trying to outdo each other. For Qtum to be specific, the company has opted to improve its technological systems by developing a virtual machine so that more people can have access to the platform. Recently, the company Qtum announced that it was going to partner with Baofeng so that it can begin running 50,000 full Qtum nodes and put an x86 virtual machine in place. As a result, Qtum will have more languages that will aid smart contracts to go about their business.
What is Qtum?
If you are wondering what Qtum is, it is a hybrid of both Bitcoin and Ethereum and has its basis on proof-of-stake consensus as opposed to the regular proof-of-work. Currently, Qtum is compatible with other contracts such as Bitcoins and Ethereum.
According to Qtum’s co-founder, supporting Ethereum Virtual Machine alone is not enough for the Company that is why it is seeking to establish its Virtual Machine with much-improved features to allow it to compete at top level.
According to Quantum’s co-founder Jordan Earl, the main reason why the Company is improving to an x86 virtual machine is to accommodate more programming languages and therefore attract more smart contracts. However, there are more objectives to the development other than that and they include:
- Providing a standard library
- Open new opportunities for smart contracts
- Provide an ultimate optimized model
- Supporting more programming languages
The standard library will have more benefits to the contract code according to Earls. Through this system, developers will incur affordable gas costs that are valid and secured. Moreover, it will be easier for users to navigate around the interface and they would be able to understand the codes easier.