Here at Qtum, we’re continually looking for to enhance upon our current infrastructure to supply a greater expertise for our customers. In October 2018, we created the Qtum Enchancment Proposal (QIP) format with the only real intention of placing the voices of our neighborhood to motion and, since then, we’ve been overjoyed by the constructive response that we’ve acquired in return. Your suggestions has not solely helped us enhance our current community, but it surely has additionally helped us to assume critically about how we are able to strengthen the Qtum mission sooner or later. Like all nice issues, nevertheless, our work is rarely carried out. Beneath, we’d like to supply an summary of the three new QIPs (16, 17, 18) that we imagine will positively influence the Qtum ecosystem for years to return.

Please bear in mind that each one of those at present stand as proposals and your suggestions helps us and the neighborhood convey the expertise collectively to make them occur if valued. So, have a look beneath, and be at liberty to touch upon the professionals and cons of every.

QIP #16: Coin-locking Incentives

A good portion of stakers in the neighborhood, significantly alternate sizzling wallets and centralized wallets, perform by permitting these entities to “stake” cash that don’t technically belong to them. As a result of time-sensitive nature of what number of of those platforms perform, customers are sometimes disincentivized from staking, or locking, their very own forex for extended durations of time. Processes like these will not be essentially dangerous to the general performance of a given platform, nevertheless, they do make incentives for private staking very small, requiring customers to “relock” their cash regularly.

By this QIP, we purpose to create long-term staking setup that provides quite a lot of incentives to advertise small-scale staking. For instance, the “lock profit” might successfully multiply the pockets’s staking weight for varied lock durations. In an effort to encourage a continued dedication to the community, QIP #16 lock advantages maintain no compound curiosity, which means that customers would lose their rewards if cash are faraway from the staking course of. Whereas admittedly limiting the power to withdraw cash, coin-locking incentives like these encourage small-scale staking by offering customers with elevated rewards for his or her participation within the community.

Learn extra about QIP #16 →

QIP #17: Storage Lease

Storage has been and continues to be, a major downside going through the blockchain ecosystem. In actual fact, there’s a actual concern that as early as a decade from now, any blockchain, particularly those who make use of good contracts, will inevitably inflate past their storage capabilities, limiting the provision of full nodes to these able to affording high-volume servers.

By this QIP, we purpose to implement a lease mechanism for all storage consumed on Qtum-x86. The design would put a cap on the full quantity of knowledge {that a} node would wish to retailer, whereas additionally placing a cap on the full search area for light-weight Simplified Fee Verification (SPV) nodes. Fortunately, these upgrades wouldn’t require particular adjustments to particular contract logic, nor would they require specific lease funds on consumed storage. Somewhat, the QIP would institute three minor design adjustments that may be simply damaged down into these elements: 1) DeltaDB database re-propagation and lease conduct, 2) good contract conduct for the “sleeping” state, and three) a way of “waking” the sleeping state.

Learn extra about QIP #17 →

QIP #18: Schnorr Signature

The time period Schnorr signature was first coined by German mathematician Claus P. Schnorr to explain a small, easy-to-use digital signature that may confirm the authenticity of a given interplay. Since its creation, Schnorr signatures have been efficiently utilized in blockchain tasks like Grin, Beam, and BCH — even garnering such high-profile consideration that they’ve just lately grow to be the topic of a Bitcoin Enchancment Proposal (BIP).

By this QIP, we purpose to implement the Schnorr signature onto the Qtum blockchain, making a broader menu of choices for customers with regard to transaction performance. If applied, Qtum’s Schnorr signatures can be simply distinguishable and appropriate with Elliptic Curve Digital Signature Algorithm, making certain that funds can solely be spent by their rightful homeowners.

Learn extra about QIP #18 →

Street Forward

As you possibly can see from the above, we’ve an thrilling street forward. We really feel honored to serve the Qtum neighborhood and are actively researching and experimenting with new and modern methods to assist help their success.

With QIP 16, 17, and 18 on the horizon, we really feel extra assured than ever earlier than that the sky’s the restrict with regard to the way forward for our platform. We imagine that these QIPs have the power so as to add advantages to our consensus algorithm with respect to smaller stakers, cut back good contract prices, waste, transaction sizes, and add privateness.

Keep tuned.

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