Qtum – Interview with CEO Patrick Dai

okay let Karen get it’s okay yes its first okay so I should be starting out guys my Michael thank you and welcome to the channel box mighty I’m here with Patrick the CEO of quantum and he’s gonna describe to us what quantum is and a little bit about the quantum launch as well in the future of quantum so Patrick can describe to us what quantum is okay so hi everyone Patrick I’m very happy to interview with Michael from box magma box mining yeah so yeah so what’s contem yeah I would like to answer the question yeah I think if we shoot a back to Bitcoin yeah because bitcoin the cryptocurrency and a serum user is a general platform so what why what a quantum quantum is basically we take the advantage of the two biggest the ecosystem from Bitcoin from a serum and from all the mature the technology like the proof of stake so come to me is is a we coated like a value transfer protocol that means it’s a currency and a-plus attached a decentralized application platform so that means it’s also a platform so quantum either is a currency and a plus or a general platform it’s a it’s the first proof of stake a smart contract platform right now yeah so that’s quantum yeah oh so quantum is already running proof of Cygnus we saw a theorem trying to move the quantum state approval state but quantum is already proof of stake already yeah yeah that’s true because for quantum I mean we are not we are using a different approach from Casper because quantum we used the original proof of stake idea it come from the funny king you know he he is a founder like he the inventor of a pure coin so he made the first proof of stake idea I think he in 2012 after that if we have many proof of stake many proof of stake improvement like the depot’s delegating the proof of stake used by Beshear and Nazim we have like black coin they improve the proof of stake from proof of stake 1.0 to 2.0 and is it right now okay they have the 3.0 amazeen we have a Casper Casper is basically the the main approach of a proof of stake you bye-bye easier but is still in developer Network right now it’s not in production Aladin we have other the proof of stake like the next coin they have their own proof of stake and we have a lot of other approach to yeah so but but basically why quantum choose the classic proof of stake because we wanted we wanted to build a quantum matured or been fully tested technology yeah so we can make sure the quantum planform can become the most sustainable most of the secure a plan form in the future yeah so quantum already improve Homestake yeah so it’s already in production it’s not a thing in theory yeah oh that’s great and I will talk about the mainland at launch later so because that was a big event for you guys but I do want to focus on one thing as well because you said on the quantum website that quantum is utx so can you describe what is you TXO and what are the advantages of being utx oh yeah okay so basically for all the blockchain projects right now I mean if you check the climatic copy you can see like a few few hundreds critical currency so you can’t divide these like a few hundred the Caribbean currency into catalog I mean you may be too the reason is like most of the currency like a Bitcoin litecoin and all these like Forks of Bitcoin source code they are based on the the very basic model designed by Satoshi Nakamoto yeah by the founder of Bitcoin yeah so when Satoshi designed the the Bitcoin network you know the basic experience section model is a very basic a layer of a Bitcoin he used the UTX of the UT EXO model yeah the reason I think that he choose UT excel because for you take so it’s like you can do like a first rhythm it’s a satellite it makes the network like more more decoupling from the from the virtual machine yeah it’s a stabilized it’s just like if you’re changing your you or like a wallet you know real life like a you’re worried that you have many a small change and you can’t spend any time you only if you want to pay like a like a maybe a $15 you can choose like a $10 and $5 energy in you to 15 payment yeah $15 payment yeah it’s a it’s to a simulation of the real world how do you spend your money yeah so that’s that’s the reason you’re worried you choose like in your what is it you do not really have any Bitcoin you know what it all you have is all these like a small you TXO maybe some of you TXO the value is like what 0.1 bitcoin or another you t XO is the 0.2 Bitcoin and if you want to pay 0.3 okay you choose to 0.1 I’m at 0.2 and a zine you’ll pay 0.23 so that’s how the utx or model work yeah you have the input that you have the output yeah yeah yeah okay the combination of inputs and outputs because like I’ve been trying to describe the difference between the you TXO model and the etherium model which is completely yeah because if theorem groups it all into one big kind of balance on your arm on your account but do you TX mo model is meant to be safer it’s meant to be more traceable than everything else so I think that’s a key advantage of the UT EXO model yeah and also another advantage is like that you can do parallel transaction like you want to in Bitcoin it’s it you can broadcast a one star in the transaction in one second you do not need a wait for the confirmation even even some what’s in your bitcoins and confirmed by the you can spin it immediately but for the are canta model like you have to wake your balance to do the update every every few minutes what every 10 or 20 seconds you you have to wait one by one so in our quantum although it’s like a single transaction it’s like a a senator chain second to be the MP habit away to maybe 2 minutes to do another transaction but from the UT Excel the reason you can’t do multiple transaction one time because they get to state allies it because all the UT escrow already on a network so no matter it’s coming from the one out you can still you can spin it immediately oh yeah you can do parallel transaction it’s like someone give you $10 you do not need a waiter for one confirmation you can what we have for 10 million see because you can spin a $10 immediately you can use $10 to buy the ice cream you may immediately right before but yeah buddy if you are working like in there in the Arcana model it’s like as a bank balance you know so we do the transaction from a bank a to bring cabbie you have to wake the bank to do the confirmation yeah and then after that maybe the bank of you take five days to do the confirmation I mean you can spin your balance right it’s a very big very very big difference yeah that’s a big advantage of quantum over something like a theorem which is not UTX oh so we’re moving on to that so now that quantum is now deployed what does that mean what what happened in the past few months that on the main net yeah so yeah we we have been developing quantum like a since the March over 260 2016 aren’t you right now it’s already been like a 15 months right now and we have been developing fall for a long time will the developer like in nine countries they didn’t look ideally located in nine countries yeah so right now okay be released a test net one two and we release the main that yeah so right now the main that is go alive and I think today we have like a more than 20 sun block already been produced in the last day in the last few weeks yeah that congratulations I mean that’s a huge event so from becoming from a theory from some discipline lines of code to becoming a real live project our domain there so congratulations Patrick for yeah yeah it’s a lot of work but if yeah I’m so happy we made it happen yeah nice and it was spread over nine countries so which night countries and why did you choose to be so international yeah okay I mean we didn’t choose to be international because we have to the reason is like it’s a super hard to find some very talented developer who know Bitcoin very well who know you see them very well and who know like the the only the technical details very well it’s super hard so that’s the radar night we have like a two office we have one office in in Shanghai we have another office in Belarus in Minsk but we are setting up another office in us right now in temper yeah because the Earth’s he live there or see the our leader developer and also quantum co-founder yeah he live in Denver I so yeah the and we have all other team members from Sweden from Canada from Macedonia from Morocco all from Columbia yeah that’s a huge see how big is a team right now the team right now it’s about 30 people but we have like a 25 full-time developer only five people they are doing like a operation or counting marketing so we have you put a lot of more resource on the development award that’s like a 25 that’s a that’s a majority of the people ready for her first that’s great so yeah yeah yeah because people who pursue the MS simple keep keeping things straight so okay in terms of the mainland launch so the tokens that were issued on a CRC 20 tokens they’re happy actually converted to quantum main that tokens is that correct yeah yeah it was earlier the reason is like we really say yeah see Tony token because if we finished the IC o—- in a March this year and after like two months a lot of people they started worrying like the their money is under like a codicil pen form they were worried at the security so that’s a rhythm we made it like as a change like we released a ya see 20 token first so people can withdraw the quantum from from the cops a pen form because otherwise a lot of people they they came to us they say oh I’m worrying about the security over the cops a platform so that’s a rhythm you go to the ER see 20 token but after the main that already is a few weeks ago most of the exchange you’re already like a swept so I opted to the main that quantum coin so right now it’s a main that coin right now most of the exchanges are finished others worked I think the the last one a coin one couldn’t be one the very bigoted exchange in Korea they finish it after yesterday all right now I’ll just finish this one okay cool yeah yeah so right now all the exchange you finish it at the Swap yeah okay cool so the swap is from an ESC token to something called the quantum ignition token um yeah is there any chance for users who still have the ERC 20 token artist Oh er see 20 tokens out there yeah yeah there’s still some chance I mean you are we are always open the window for the for the later people yeah the really is like we take care of all the community member so we we so right now we still have uh we open the like to opportunity for you to do the swap the first ye you can do this from gingely decentralize the exchange planner phone you’re just a deposit of your yes eternity token and then you get the quantum minima token yeah another another channel you can do through exchange plan form that the gate cater Tata oh yeah gate thought I all that exchange they open the opportunity for you to do the swap or automatically yeah okay that’s really important because I do know some people still have you know they forgot to transfer those ERC tokens from either the exodus wallet or any other woman to an exchange so there’s still two chances either change Lee or data I oh that’s pretty cool um I did have a question come up in chat so just now in the live chat we have a question about China and I see us because Quan talk is the Chinese I see oh so you guys affected by the Chinese recent Chinese I see open yeah okay so yeah maybe I need a correct correct as this questions are really like every ICO is a internationalized to do the relay is like you start of the ICO everyone can participate yeah everyone can participate but in truth like a quantum project in the registry they in Singapore so legally speaking so legally speaking it’s like it’s a project from Singapore so the content foundation located a is Singapore yeah but I wouldn’t be doing the ICO earlier but we have a lot a lot of people from China the parties participated the ICO but a continent project like involved like the ICO involved of people from more than 20 countries yeah people from Canada people from Japan Korea and from Europe yeah a lot of people they participate yeah so yeah we do get like uh some like a effect from the ICO regulation happened last month yeah because like it’s more like okay this the regulation P become most tracked and you cannot do more ICO in China in the future and that like affect the some of the decent apps build on contour yeah there is a few deaths they come from China but as we still like trying to figure out a like a legal framework for all the ICO in the future yeah awesome so okay you brought up the question of so you know quantum can support a lot of toughs let’s talk a little bit of dabs and what’s what kind of taps are being developed on quantum yeah yeah okay maybe I talked us through like there is like more than 17 in depth about a 17 that’s a beauty on quantum it’s pretty exciting because the rating is like it’s it’s really hard to see like some dabs beauty on your platform even before you release you know so that’s that’s something like make us a very exciting yeah so I’ve been talking to you about field apps that I feel very excited like the first one it’s very very big like a target is the space chain yeah yeah the space chain that really is like because we have we have the plane to release release the satellite to the space the satellite it to the space yeah so the space chain what is he doing right now okay they wanted to appeal the open sourced a to like a network in the future yeah they want they have the plane to release a 72 satellite you know in the two or three years yeah so quantum will be the the first bench of the of the shift light to support the contour but in the future they may supposed like other blockchain project yeah so the reason is for space chain I mean the space plus blockchain I think that’s the most exciting area and also it can really make a quantum become a really like a decentralized network yeah you have the or you have the network on earth you also have the network in the space that’s crazy I’ve always found out that so yeah the space networks just a bunch of satellites orbiting the Earth and then can we send is it only like V I can we send signals up or is it broadcast down only yeah you can do the like a the both way yeah you can upload and you can download yeah so that’s that’s very cool yeah you can you can receive single now you can’t receive the broadcaster from the protein from the like a quantum transaction from the space yeah another reason we do this way see the in the future I am because we wanted to build some like a scalable playing for quantum like I mean right now the scalability is a very big issue for the older blockchain projects yeah so we want to make the space be like a PPO relay be or be a relay like a relay note in the in the lighting Network yeah so if you’re doing a lighting Tribune section you can’t go to the space and a broadcasting to the earth yeah so that’s yeah so that’s something very cool and I’m that earlier you know people think it’s a joke but it’s another joke we already got a already ready yeah so you already have that shadow line already so now we definitely have to stream the live launch for the satellite on this channel I think you know eventually tell me what you’re launching that satellite because I definitely want to see that go off to space and that’s that’s gonna be a historic moment for blockchain and for crypto glasses yeah I think I got a few photos for the chef light yeah I will share me that I will share with you later Oh awesome that was so cool so yes I was already being launched into space and then already prepared but because the earlier we we we already like made everything ready it’s supposed to to launch it like in orders yeah how do we have like a few months delay yeah because of some rosita stuff it’s not about a condom it’s another company it’s a part of the rocket lucky to have some problem yeah so they delayed a few of us yeah okay we are almost ready yeah that’s awesome that I’m great to hear that and yeah if when we’re at the live launch I would love to see that rocket launch into space yeah maybe we should do a livestream is that like I think so we need to do the countdown and you need to press the butter to launch into space that’ll be awesome yeah so so that’s one of the projects there and it’s meant to really decentralize quantum right because once it’s in space now it’s really nation its nation less right that’s the thing that’s whole idea now you can transfer cryptocurrency even without say the internet right yes and also interview offer like a more security to the whole block chain Network the rail is like because the quantum in the proof of stake and you can you can really like to do the proof of stake me in the space and you can mind you can buy the coins through the satellite yeah so that’s something some advantage we have were you compared to Bitcoin we’ll compare to easier because we’ve compared to other like a proof-of-work blockchain project yeah right right all right so it’s actually my name is Fay status that is my name you can out the mining Bitcoin in space yeah so yeah we’re so he sees things like the block stream starter like they’re doing that for Bitcoin but I think that was only to send signals down so it’s only just synchronize the action and you can’t even mind in space so quantum you can the thing is the other thing is you can actually send signals to the satellite as well so that means even if you don’t have internet or your internet is blocked or quantum is blocked in your country that means you can still access it right yeah yeah yeah I think that’s it like we are doing more like more deeper research yeah to combine the blocking with the deeply yeah right right right right so that’s that’s really amazing because I really wanted that to go forward because there are countries of course are trying to block you know washing technology and trying to prevent that so having this in space means you know it’s gonna be amazing so that’s one of the projects there and I do want to say something it’s like the Nexus projects is doing that as well so it’s controversy on the live stream set as well and I’m really excited to see that go forward so what other tea taps are there are in quantum right now yeah there is also like another a lot of other PDFs we could adapt yeah a lot of other apps they are building on quantum there is a very pretty good of team from Silicon Valley like the name of the Budi it’s like it’s a it’s like a booty it’s a prediction market apps what they are doing is like they combined they are building like the prediction market on quantum the team they are pretty good they from Silicon Valley and the CEO he he he was the foster mobile developer in Twitter oh wow that’s yeah yeah and he also like a like a manager product manager in Twitter earlier and he has been a very experienced in the old IT industry so he’s leading the team to build the the booty or the prediction market yeah and yeah I think this one was a very interesting project there’s other project like an Ergo energy go yeah it’s like a decentralized distributed energy trading platform and as they already like a cooperated with the feel like a big energy company in China and as I started deploy the the the corrida the create electricity network in Thailand and in Australia so some some of their products already in production so that’s that’s pretty cool yeah there’s a real project that they are coming to a Korea right now and that another one the Inc it’s like the about of the IP and the copyright so it’s a decentralized copyright and IP trading trading platform yeah they are building on quantum yeah that’s awesome and there are also like uh some depths like we have the quantum yeast in a message yeah quantum instant in the message there’s a team they are very experienced that they they develop a warm with the most popular like the the yeast in the message in Middle East yeah yeah they’ve got a fifty meaning user in their deaths 15 minutes 15 values oh wow in their apps yeah so what they are doing is like a zvo able the quantum ward eating in there easier using the message yeah so this that’s like a V okay okay so that’s not integrating the quantum into the message they can send quantum to each other is that right yeah the cousin quantum to each other and a helped us a lot on the promotion and awareness yeah oh yeah that’s like how the quantum like yeast in a message it’s pretty cool and we also have some other we have a lot of awarded services they are building on contour like the Odin online wallet and also like if we have a project and maybe the Cuba it’s like a quantum hmm like a deep a what look Cuba it’s the Cuban it so dimming so they will support all the quantum to coin the quantum mean that coin and all these all these other tokens are beauty on quantum tool being supported by by Cuba yeah be the reason it’s like they wanted to put the con to me in the mobile yeah so that’s that’s some more other like add apps they are building yeah so it’s all about kind of integrating quantum into the mobile platform and because quantum is both smart contracts and a currency because it’s you TXO that means it’s quite convenient and it’s safe enough to put as a kind of currency onto these platforms yeah yeah and also of an to do quantum means like a rhythm why we you folks a lot on mobile because I can feel like the usability over the whole auction world in the tool bag yeah it’s very hard for everyday user like my parents to use Bitcoin wallet what it’s a super hard but they cannot understand is a private key or public key they do not know how to manage their their coin yeah so we wanted to improve the usability to of the whole block chain industry so that’s a rhythm we focused a lot on the mobile and because quantum is supporting the SPV protocol from the Bitcoin network yeah so we’re supporting the SPV this is a simple verification payment of protocol yeah in the book on white paper yeah so so we supported the ice PV and then we supported up we also want to put a smart contract into the mobile so we wanted to develop for like a automatic contract the Apple Store so you don’t yeah you do not need to know how to write a smart contract you can just download the other developers template and then you can pay one contour money to buy a smart contract the template and they use the function so kind of a marketplace for smart contracts right so yeah you know instead of writing your own smart contract cuz that that does take some time you want to create this marketplace where you can buy a smart contract that’s ready there and then now we can try to implement that yeah I think that that’s good the folder like her old is like an everyday user because it just imagine like if we want to call a car you do not need a to develop for the Whooper app you know download of the uber app and they encode the car yeah so why not you if you want to use something like a blockchain function sometimes you have to develop the smart contract it’s not a convenient for majority of the people yeah right so it’s yeah so that’s a radium why do you put it like a potato very easy everyone can use smart contract in the future in your mobile phone that’s something we wanted to do yeah nice nice and I think one thing is that now there you have a mobile focus and then you have focus and developers how do you developers contact you like um do you work directly with developers or is their foundation that works with them yeah so right now because economy is a new platform it takes some time for the foundation to prepare all the documentation and all the people from in the guide but we are working on this right now and also we yeah we are working closely with the Oh our server party developer are we invited them to o our like a quantum team a slack Channel yeah we have a community channel we also have a quantum team member channel to channel suit to check that out so we know if you’re right if you can hear us um you can put the slack channels here I think you have admin privileges so that you can link them so even you what’s watching who wants to join this last channel and be part of conversation oh you know I think that would be a great way to learn more about quantum and yeah so if you if you are a developer you can send you can leave I mean you can come connect with us later after the interview I believe the email so you can scenario email review invite you to our developer Channel yeah we have a developer Channel have like about like a 100 people in that developer Channel oh yes that’s a that’s a good developer channel size so right now there’s a lot of interest in Korean as well so unfortunately I’m looking at live chat right now I don’t at least understand Korean but you know there’s a lot of interest in Korean I think Patrick you you’re in Korea right now right yeah I mean I’m sure right now yeah nice is there a lot of interest in a career about yeah don’t right now yeah yeah I think so yeah I think in rhythm there’s a few reasons yeah the first array that is like I think would be to the ICO there’s a lot of a community member from career they participated of the ICO so I think they the other originally supporter of quantum under a Nazim we we made a we have a meet-up in career like a few months ago and azim we did some like marketing in Korea so we right now we got a very very big interest in from Korea nice and it’s like Korean viewers watching you I’m really sorry I can’t read or really take your messages well is there a Korean like I’m a community for quantum as well yeah I think yeah we have not only one I think if we have feel oh is that we have these right yeah they’re feel community we have the cockle talk and I think today in the cognitive we have a bottom maybe it’s 3,000 people in Korea oh wow that’s a lot of people and career interested and that’s that’s great you know I love the new Korean interest I mean they were very interested in aetherium I saw a lot of people chatting about that interesting – and now they’re really interesting quantum so I really like to see them participate as well and you know I would love to visit Korea one day and just you know say hi to you guys and you know that’s that’s really cool to see this interest there so right now we have tons of the apps and the quantum foundation is actually quite huge as well right so you you guys are actually a global foundation as well right now okay the foundation the operation I mean legally it’s registered in Singapore but right now we have the strategy like we want to open more office in the near future because we want to like attract the more talented people to join in the quantum project so we are hiring more people in us right now yeah because we are trying to put a like more efforts in US market and Abby we also like a attracted like a very good atomizer from the US – yeah yesterday we announced the one over our divisor and he is a pretty like a very very very big investor yeah in u.s. yeah right right right so it’s different investors different teams coming on board and that’s really how to encourage development right because the thing is it’s quite important to have a good project but it’s important to have developers developing for that project and it’s one of the main things I’ve been trying to talk about is that you’re not the developers and that’s one of the ways to do it you have regional offices to sub competitions to do come just do stuff and I’m glad to see that you finally launched and maintenance so people can start developing for it yes yes is there a lot of activity on the tester as well for new features and or anything yeah I think you know main that we we have a few new features but yeah every day we are improving the the main that maybe in the near future we are we are working on like more exciting topic yeah but we already like improve the proof of stake a lot yeah be because of the classical proof of stake you know I mean in the first test 90 it’s a classic approval mistake but I mean then we did improve an abortion I improved abortion so right now it’s like it’s more secure yeah and also we improve the some like as a quantum a condo construction layer to make it a more sustainable yeah that’s something yeah I mean you know if a blockchain project it’s a it’s a very big software engineering it’s a it’s a it’s a very big software because the network the distributed in network is a very being software there are so many details yeah so even right now we are trying to find like more we are trying to fire any more like improve our most small details to make the network a more secure mascara must care about you the future but right now here we are working to more exciting way exciting topic the ones the one topic is how to make a quantum scalable yeah so we are working on the lighting network we are working on like the the transaction data or compressed yeah we are working on like a few other like topics to make to the quantum network yeah what scalable in the future yeah oh so Lightning network is definitely on the table so lightning it’s already being finished our from Russian oh wow it’s already finished that’s that’s really fast that you come so you guys are definitely pushing for the Lightning Network and yeah operate very similar to help it like me when our work works so that’s yeah that’s another topic I wanted to put some words on it’s like here for quantum we are supporting post the bitcoin lighting Network and also we have a to approach to do the lighting Network and right now we finish the Bitcoin part and now we can also do a lighting network through the stated channel like through some design from the Rida Network from the easier so we can use this money contractor to do to do some scalable plane and we can also use this based on the UT X or model based on because in source code we can do some like in network so we can’t become too to approach to approach yeah but right now okay we finished with a Bitcoin one yeah we finish the Bitcoin lighting Network on quantum it’s already been being modified on quantum network and it’s already working right now we have to do the we are doing some final tests under them we have a beta version yeah alpha versus yeah are forcing it working it’s already like working me finish the some tests last the week yeah and so we are working on like as a new virtual machine yeah the x86 virtual machine so because the the reason I can see one of the challenging for somatic contracting it’s like even today we still do not have too much developer they know like our solidity very well they can’t write a smart contract very well I think of one of the rails a is like a stolidity is still like a very narrow language like a floor for the programmer or to to to do the code yeah but for the mainstream programming language like the major programming language like a C language C++ Java rust and Python yeah we have a more developer who knows this very well but we have very very few developer who knows what it is very well right so then yes that’s some work like a shield working on a Jordan nurse he’s a design a new virtual machine and because the Earth’s he kissed he he taught himself since 13 to design like an operating system and also some virtual machine so right now he just go back to his 13 years old and try to finish in some new virtual machine design right now yeah ours he is working on this yeah oh wow I’m just just for clarification right now what language is quantum using yeah so okay the the quantum main source code either based on C++ because yeah our main source code earlier is we we leverage it a lot from Bitcoin source code and butter for the cement contractor we are supporting solidity yeah but we also think to do our co co language implementing in the future yeah : in the future okay so okay so that’s that those are huge big changes to to the whole network so you’re adding additional support for additional languages and you’re changing how the virtual machine works and yeah I didn’t lightning though so those are very ambitious goals for this project you know that’s that’s really amazing Patrick so and then that’s why you need all those developers working on this team right so it’s a team yeah the teammate is still growing that’s also the reason why we say like if we have a 25 full-time developer I’m working like in your army really is like you know we have to make everything be organized I really think have the deadlines so another thing people like quantum Ising I mean other people they told me like a condom either all a blockchain project will never delay right that’s true cuz you guys did push everything on time and everything because I’m very familiar with a cache because it earlier like we wanted to do a lot of stuff for those a start so the cache should they delayed a few times to release a maenad I mean every every major like blockchain project they delayed a few times yeah right but for the quantum team like okay the readings like we have very very hard time schedule management yeah so every time we want to do something we reach our best in two to two meters a deadline yeah right that’s awesome um we also talked about staking just now so right right now contrast proof of stake how many coins do you need to be to stay quantum and how does this taking mechanism work I think the coins like a1 coins okay oh you go what is okay even one coins okay it’s okay so that’s something that’s also one of our philosophy is different from like a some other project yeah because I mean for the quantum team our philosophy is like we wanted to make quantum become a very decentralized Network yeah and the decentralized as a Bitcoin yeah what yeah so that’s our that’s our main target yeah so the reason then we say okay everyone can become a full node you can become a funnel you can download all the all the ledger all the transaction here it’s very in quantum and become a full node yeah so for the quantum stake you do not you we do not have a minimum requirement for the stake yeah even you have one coin you have the chance to to mine the contour through the proof of stake yeah so but I mean the more coin you have you have a higher possibility yeah but we also added some like a random residence ring them factor so even you have one coin you have some chance to get her to get a blocker reward because also I see yeah because he threw this away I think I become given a year centium for people to roll in the quantum node because they can feel oh maybe I’m lucky I combine some contour yeah so that that’s something we wanted to do through this the design becoming quantum network of be very decent yeah yeah and it’s a guide to how to stay quantum is the answer guide for this because I’m actually quite interested in staking some quantum beers okay okay I think we have a guide video published very soon yeah also some some developer they they wrote some guide but it’s a very easy it’s more easier than through the Bitcoin mining you’re gonna need a miner yeah you just need a bunch of quantum contemn and open the computer and a Z you’ll become a mistake a node yeah right right right right and that’s pretty cool and one thing I want to emphasize here that Brett was talking about in chat is that there’s always a lot about competition and stuff and one thing about the blockchain space is that it’s quite a small space and I think we’re all working together in yet space and I think I’ve got a meeting you yeah it’s definitely the case you know we definitely locked all the projects and we definitely want to push cryptocurrency forward and decentralized apps for it so you know it’s well it’s it’s great to talk about all these projects and learn from the projects I mean that’s how quantum is I think as well yeah you learn a lot from all the other projects and you took the best parts and you put it into quantum right yeah the reason you know another reason why I wanted to start in a quantum earlier back to 2015 because at a time like I I know a lot of people in China from the Bitcoin community from ASEAN community you know they are like a post basically they do not like each other right yeah they disagree but with each other every day every time yeah so Zi I was thinking okay we are so young I mean even the whole blockchain war it’s so small will compare to Alibaba I can I mean how many use are in production we have right now I mean maybe 10 million user yeah but you know how many user we chat have how many user Alabama have they have like they have like a they have they have like a like a to billing you sir yeah there was three billion users yeah we only have like a 10-minute user in the whole blocking world I haven’t any new user so we are pretty small you know so that’s a reason why I think like you know for contemn we are pretty open to all the other project because I mean that’s a that’s a real valuable open source yeah we are building on the open source soft we’re it’s like as an open source of evolution like you know we are building on each other yeah we are stay on each other the shoulder yeah so we have you’re building on each other yeah so that’s something I think it no need to reinvent the wheel every day you know so we are building on the open source software and yeah so that’s a really I mean we are open to all the other projects being open like and I think yeah the competition the competition is good for the ecosystem yeah because because you can find a Mitchie the best platform yeah but in the long term like our only competition into the traditional the traditional software IT system is not as you say right that the space out here is so huge I mean yes we’re coming out with each other we’re racing with each other but we’re trying to expand cryptocurrency overall expanding that circle the circle can only get bigger we don’t need to eat each other you know not yet anyways is this new very super early stage for the for the blockchain world no matter no matter for business no matter for technology no matter like for the folder like the models it’s a steel super early stage for the hope for the oh the other approaching for Jack yeah even for seek point yeah you can for Bitcoin yeah actually – yeah so right now what I’m gonna do is I’m gonna answer some questions I’m gonna ask you some questions that I took from the audience and then of course guys wanna ask any questions here Brett can answer and Patrick can answer as well so one of the questions we have a little bit earlier was with Veatch Shane so what are you guys working with Veatch a and how does the deal work right now yeah okay so yeah I think people ask this question a few times in China and also in the Western community so right now we have no we have we have no any we do not have any relationship of e division yeah reaching was a project like a belong to B to C earlier and earlier in 2015 I was working with the BBC and also worked as a as a CTO for Dean when we started the call on the project I left at the BBC company so right now like a no no no and we don’t have any relationship between region right now yeah so quantum is a independent project from any certain party any any sort of company I mean a laser and so all I mean the whole project a the governor to buy the content foundation yeah and let me have a story co-founder me and the neo for Morocco and the arts from us yeah oh this is international co-founders how do you really have meetings I mean you guys are across the world do you guys have meetings on on skype or Skype call each other like how does a yeah we have meetings like we have like it you’re pretty we have like every two or three days we have some meeting but we are talking to each other every day yeah we talk mostly the conversation happening in slack just like channel right we also we doing some me interview some meetings through the whole number and also the yeah maybe two not really like a Skype yeah I see okay I just saw another thing so match pool is gonna launch on both aetherium and on quantum I do want to say how easy is it for a developer that’s currently working on aetherium to develop for or to adapt a project to quantum is that something easy and it can’t be easily achieved it’s a super easy the reason it’s a super easy because right now quantum is supporting the ECR in virtual machine so all the smart contract that you’re writing solidity you can like a seamlessly to like to move to switch to quantum like a no extra work no actual cost yeah so it’s super easy because it’s like a kind of like a compatible with IBM yeah so everything you do on ECM you can easily do on quantum and they’re all the potential it’s a basically like the reason for quantum is like okay because the smart contract it’s more like a higher layer for the application the currency layer quantum is the similar has Bitcoin but for the application layer it’s a similar as the UCM the EVM so everything you do our own um you can do you can do um conquer yeah okay and for you know II theory uses gas for transactions so what does a quantum use yeah we have a similar concept so in quantum is that the quantum tow can have two propers the one property that you use and the bitcoin you know as a transaction fee yeah you can use your the quantum and the transaction fee and we also have a similar like like at the gas yeah but yeah so we also have the similar concept you like a gas so yeah it’s it’s it’s a similar and that you see your gas yeah so gas cannot be stored but its purchase when you need to run any smart contract or do any for calculations right yeah yeah you need some gas – we are using the ECM virtual machine because you are using some other people’s computer you have to pay the cost yeah so that’s a reason why we have gas because every opcode you are you these you you could yo you use like you are using some other people’s like a resource because of the public of blockchain it’s like a public resource yeah everyone can using some other people’s like a virtual machine – Jean – drawing or you are like a smart contract but you have to pay something because otherwise think it’s have you become a public alike you know abuse over the resource yeah right right right right yeah exactly because you do definitely need some way to charge a little bit front transaction otherwise these resources will be taken up how many clients are there for quantum is that right now is it domain quantum quantum client that’s available yeah so right now we have the the we have like a few clients already we have the that’s the topic clients are already on the github like a you can download the like Windows Mac and the Linux client through the github and as right now also we are working on more clients right now we are working on a quantum of the electron yeah so you can use the electron very soon and also we are working with like we are working we will have like a maybe three or four like a mobile wallet developed further by the third party yeah so we have we have a team member the cube are that the team member the earlier they worked for Microsoft as the leader he’s like as a chief like test developer in Microsoft so he is developing a worried for quantum right now and we have like another worth name the name of the th decentralized – H yeah th yeah so so the th what it pay is they have the they put a lot of resource on the security of the wallet yeah so it’s a very secure word if they will release worse and the four contem we are developing worth of our sale of two so we have a two mobile wallet alrighty next week yeah next week yeah next week and not only in the world but also the the smarter contracting in the water that will be ready next week it – yeah so you come you ice mask how to say oh you know mobile worried you can’t release your quantum a customer token you in the content about work so you know well yeah so it’s gonna be very easy yeah because we put us on mathematical triangle template in the mobile world it’s okay you can just click the button and then you can deploy your almost matter contract yeah well and this mobile wall is on both Android and iOS devices would they be a yeah the same time or different times yeah the anger of you’ll be the first anodyne for the iOS we are waiting for the Apple domain and also be besides I’m Jordana mobile we also have our Apple watch you are it Apple watch for it so you can use this through the Apple watch yeah that’s pretty insane so also that’s why I’m obviously either is a lecture yeah ledger so later they are they’ve used to both quantum this must to the ledger the hard way of warded yeah you’ll now see everything at once Patrick you gotta be careful so you got you got a mobile wallet come help you got the ledger coming support as well an electron yeah you’re not relaxed for me alright and also another thing we are working on either visa we are working with a very warm the best awarded the team in China the namely the be sir is a piece of worried yeah it’s it’s a it’s a recommended like awarded by the bitcoin core team by the Bitcoin to the arc you can’t find a piece of wording so we are working with the piece are together to have a quantum portion yeah nice nice that’s that’s pretty awesome so that’s there’s a lot coming up very soon and it’s a lot of development and a lot of hard work I guess and that’s that’s been yeah busy yeah yes that’s reason why we say all the developer they are working like in the army because otherwise it’s very hard to deliver it so many clients so many or plication so many like worried stuff we have like a I mean in the future we will have like Tim worn it yeah 10 different kind of worried you can choose you what you like yeah that’s that’s pretty cool i mean i use the ledger this ledger is safe and then apologize yeah yeah you see policy coin very soon um yeah that’s great I have one question from the audience which is why would developers choose quantum ovary theorem so mr. competition do you see yeah a reason why what’s the main push driving factor for quantum movie theory oh yeah I think if there is it like a few reasons yeah the wide racing is like okay the the the big side of anteed you for quantum right now it’s like it’s already a proof of steak our somatic on track the in production you know it’s a in the future its most callable in the future because proof of steak it basically it’s more easier of to maintain and it’s more easier like a to Dula scaleable plane in the future and and therefore you see and okay I know you see them have the Casper I meet like a few ischium developer earlier many times yes since 2013 yeah I’m eating all the most of the ECM develop right right yeah so there I know I mean like a case where it’s a good either is a very good design but it’s a still to employ in prototype just be a while and they can i push this back again yeah it’s gonna be a while and also when you will really wanted to push the proof of stake to the ECM ecosystem you will have a very big of resistance from the miners yeah so so so that’s gonna be it taken maybe one year or two year maybe maybe even longer to for switch for you see on for host we to approve of steak yeah so that’s one of the advantage of a quantum because quantum is the proof of mistake in production and the you see improve of steak is the in prototype yeah so if you really wanted to because uh in the future if you if we for the case per finish this speech may be some minor they will to another hard work for you serum yeah so that’s some like uncertainty in the future yeah the second reason is like okay quantum is the leverage only the Bitcoin ecosystem so we because everything Bitcoin being supported you can support a condom – like an oldie the what is the service or the in payment a service only the development of tools I mean the UCM ecosystem today is still the biggest one right now yeah so that’s a reason like we have a lot of very matured and do you more often developer like a resource in the Bitcoin ecosystem and a lot of a company they are working on the Bitcoin ecosystem so basically we can leverage the only the current more – your Bitcoin resource yeah yeah and you can easily like you say see in in pink or in quantum network yeah right so that’s another reason so it’s really the kind of support that Bitcoin has you know you’re building off the Bitcoin community and the etherium community as well so yeah can a combination of the both yeah like okay Bitcoin still have many advantages I mean easier means is a platform you know you serum are using nothing designed it to be a currency it’s more like a general platform but a bitcoins are either currency Bitcoin is a religion yeah so it’s like you know the Bitcoin ecosystem is still the biggest one and also some of the design of the Bitcoin is still much much better yeah the reason is like for the UT actual model you know it’s most callable it’s a you support SPB and also like a will to a multi signature you know you see you have to write you a small contract that’s a rhythm Y priority being hacked yeah because the smart contract oh yeah that’s the reason is like a Y priority the smart contract being hacked yeah because it’s not like not because you have to do smart contractor to do the multi signature but in Bitcoin you know the Bitcoin natively the Bitcoin support a multi signature you know a mathematical way so it’s very secure because that was a big problem in the past because the parody was this is I mean parodies meant to be top notch is designed by Gavin woods anyways right but it the Modi’s signature did get hand and that is true because it is part of a smart car drive so right now if you put use a bitcoin version of multi-sig but there’s both these think is getting more and more important as we have more more funds we definitely need to store them with multiple signatures so that we keep it say so I think that that is definitely something that’s a key advantage over here so that’s that’s interesting cool yeah but I mean it’s not only about a multi signature that’s about the philosophy the very different of ongoing and a firmer easier because of Bitcoin the designer to be a currency so only the design for Bitcoin the very simple very secure very suitable but it but it is human design it would be a platform you know the plan for me the full of flexibility but it’s also same time means for like a certainty you know but if we’re talking about a currency were talking about the money you need a some very secure way yeah so that’s a reason I feel like I believe like a Bitcoin gonna be in the near future is still the biggest ecosystem and we can learn a lot from Bitcoin design so that’s a reason why I say quantum have a two layer the first layer is like a sustainable as a Bitcoin because it is a lot of people’s money it’s about as the currency this is a second layer you you know you have a lot of flexibility you can have a lot of like applications that’s like a easier yeah right so for content we have we layered as our design you have to if we have a different layers of the design yeah so that’s our that’s a sort of rather like a natively speaking like a quantum I mean natively the Bitcoin they support a lot of like a currency currency management yeah it’s a more secure its most readable yeah I think that’s a celebrate them yeah and also the first reason for quantum is like you know we are putting a lot of resources in the mobile so because if we are really if you are a really like a very good at developer you shouldn’t know like the mobile in the future it is true yeah it’s really unfortunate because everyone’s used to PC but mobile is definitely the future but mobile you the future you know in the next maybe ten years no one will use of the personal computer anymore yeah so that’s a reason white white in quantum we put so many resource you know a mobile to support our like a mobile applications to support our like a mobile ecosystem we have the mobile smart contract we have indeed Oh like a feel maybe five or ten mobile warning for the mobile mobile support yeah the mobile people looking with the tools yeah I mean by this way you know if you’re if you are really wanted to build a very popular a consumer-based decentralized application you should that you definitely should think about a condom because the reason like a we put so many resources in a mobile and this can help the developer to really build up or to really build a like a a real application not an application paper piercing if you are building the decentralized up application for the personal computer I believe like a lot of too many people will use it yeah so you want to get on mobile apps that’s the to encourage mobile apps and have to release resources yet okay yeah the mobile app see yeah it’s the only way for blockchain and to go to the mainstream otherwise I’m kind of see other other other choice yeah no other choice I see yeah you have to you have to appeal to something like a mobile apps and as ever like good like a 10-minute user or 20 minute user and that means like yeah that means the blockchain mainstream right now just talking about abortion yeah yeah the only application for booking right now I think is the currency yeah using it is true it’s still quite far from devs I mean that’s it does take a bit of time and I think you know pushing mobile is definitely a way forward because there’s so many mobile users and it’s quite convenient and of course it’s it’s less easy to get hacked technically because everything’s in jail right apparently according to Apple anyways so we’d have one question from the audience as well so this is just common basic questions one question was about the ledger so if you put your quantum in your ledger can you still stay quantum yeah okay right now the first reversion can alter suppose a stake but if we are working with some ledger team and also working with on some teams some other teams so in the future even you’ll put it up but you need a plug-in you like your uh Nadine you can stake yeah yeah we are working on this solution yeah okay we have another one is quantum quantum proof that was a great question genuinely sorry it’s quantum quantum proofs of quantum computing are you know right now it’s not yeah the reason we choose quantum because okay firstly it’s a very cool name yeah another another reason is like a you know come to me like quantum physics it’s a it’s a very basic a unity in the universe yeah that’s that’s also one thing we wanted to address like in quantum we wanted to really change your content become more like a value transfer protocol it’s in everywhere it’s like the quantum like a very basically unity in the universe yeah that’s something why we named the project in canto yeah right right right right right right cool that’s cool all right so we have a few more questions and then I’m gonna wrap up the interview so we’ll have two Thank You Patrick so much for I’m contributing this much so right now we have let me just check the chat right now so do we have a date for the satellites when the satellites are going up yeah okay the VV or not the data later you’re more details of you’re coming later but yeah it’s supposed to be by the end of this year yeah okay cool cool cool so yeah so I like to thank everyone for asking questions as well so this has been a really great session I thank you Patrick’s for coming here I mean I’m pretty excited for quantum now I didn’t know there’s so much going on in a project and at first I first bought it was only you TXO but it’s good to hear like got proof of steak working it’s good to hear that you got a satellite in progress or gonna sweat too much and then yeah and the virtual machine going up so I think that’s that’s one of the most exciting things coming on and I would love to hear and see that the lecture working as well so keep me updated and I would love to invite you back on a channel yeah more I was away and especially when you’re sending that satellite into space I would love to be there and we can maybe show that yeah we should do a live stream like a interview for the ship like that would be way to release awesome also so Patrick I’d like to thank you so much for coming on this channel and doing this interview and I thank everyone so much for watching and I would love to meet up with everyone next time so guys thank you guys so much for watching and Patrick if you I love to invite you back sometimes so thank you so much for coming all right so thank you thank you Paul thank you for the interview yes thank you very much all right so I’ll see you next time thank you thank you guys okay bye bye okay thank you bye bye bye bye bye

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