What is QTUM? Programmer explains.

what is going on guys welcome back to my channel and today we’re going to talk about quantum many of you have requested for me to cover a quantum and many of you are wondering how it can be a hybrid between Bitcoin and a theorem also the price has skyrocketed the past few days and of course that brings a lot of attention and a lot of interest to this project so if you’re interested in quantum this video is for you guys before we start I want to remind you that if you go to Academy that I won on techcom you can enroll in my online course that will launch in February and if you enroll now you’ll get more than 50% off and in this course you’ll learn all about how Bitcoin works under the hood how a feeling works under the hood you’ll learn about consensus algorithms you’ll learn about how mining works and why we have mining you’ll learn about industrial use cases of blockchain technology you’ll learn about the future of the internet and so on and so forth so as you can see you will get an amazing knowledge base that you can use for example when you assess new icos when you look at new projects because you have to understand how blockchain works how it can be applied and what kind of industries it will change so guys Academy that I wanna take that com I hope to see in the course and that being said guys let’s get into it and talk about quantum the main idea with quantum is to take Bitcoin core code which they have done change proof of work to proof of State and then put the theory on virtual machine on top of it making it compatible with aetherium contracts that are running on the etherium blockchain so as you can take in a theorem contract and deploy it on the quantum blockchain without any modifications because quantum have in the theorem virtual machine running on top of the Bitcoin software but slightly modified Bitcoin software and so the whole idea is to take the both best parts of both worlds from Bitcoin and from video and make this project that is industry ready and that should be used in the industry and so we are going to discuss how they make it possible how they actually bridge the gap between Bitcoin and video and then at the end we’re going to talk about the threat and risks with this project something we have to understand is that Bitcoin and aetherium are built slightly different so in Bitcoin we have something called unspent transaction output you TXO and so we will talk about how between transactions work on the next slide and they are based upon unspent transaction outputs and you will understand how it works but the theorem is built a bit differently they use something called account model and so the challenge for quantum is to combine you TXO and account model in order to be a hybrid with between Bitcoin and the video they need to somehow solve this difference that Bitcoin users you take so if you uses account model so how do they solve it first of all let’s understand what you TX o is so to understand you take cells we first of all have to understand how transactions work in Bitcoin so a bit in transaction as we have right here so this is a BTC transaction it has as you can see in the picture right here it has a set of inputs and a set of outputs so a transaction takes some inputs and produces some outputs now these outputs can in turn be used in other transactions so for example as you can see here we have a transaction right here let me change the color we have one Bitcoin transaction right here it it has these inputs and it has a bunch of outputs some of these outputs are used in the next transaction right here and some other outputs are used in some other transaction right here and the other outputs are left unspent so when we are talking about unspent transaction outputs we’re talking about that each transaction has a bunch of outputs one or several outputs and these outputs can then in turn be used in order to build up new transactions to be used in new transactions so in that sense Bitcoin doesn’t track your balance so for example when you open your wallet you might see that you have ten Bitcoin or two Bitcoin or 1.3 Bitcoin for example and so this this amount 1.2 Bitcoin is not stored anywhere on the blockchain Bitcoin blockchain doesn’t keep track of that at all Bitcoin blockchain keeps track of transactions and transaction outputs and so when your wallet displays you your balance for example that you have two bitcoins what it does is that it adds all of the unspent transaction outputs that your private keys control and so this is an abstraction your wallet does because blockchain doesn’t keep track of your balance in any way at all it only keep track of your unspent transaction outputs and so what your wallet does is that it looks at your private keys and it checks the blockchain and looks okay which unspent transaction outputs does these private keys control and then it adds all of them together and displays you your balance and then when you want to transact you make a new transaction your wallet will construct a transaction with some inputs and some outputs and one output might go to your recipient another output might go back to you and so this is something you do not see because this is happening under the hood your wallet is very user friendly most often it will just ask you for a recipient address and the amount you want to send but under the hood your wallet has to construct these transactions with inputs and outputs and in the reason why quantum have decided to base their project on unspent transaction outputs because this is also at the core of quantum is because let me just adjust the camera a bit it’s because they wanted to make the whole ecosystem Bitcoin process compatible so that when Bitcoin announced lightning network or other innovations it will be easier for quantum to adopt these innovations and also because of SP vs so that quantum can have lightweight clients for mobile devices for example so you take so is at the core of Bitcoin you take so is also at the core of quantum write if you have you take so how do we bridge the gap to a theorem because you take so is only Bitcoin and so in the theorem instead we have a way simpler model we have a way simpler model it’s called account model and the theorem blockchain does in fact track accounts ether balance it does in fact track accounts contract code if the account has some kind of code so this is not necessary and also storage also if the account uses some kind of storage so Bitcoin users do TXO which is this more complex model however it is very trackable you can track exactly what happened with these inputs and outputs it is also a Bitcoin process compatible and so on and so forth so this is their motivation for choosing music so as the base were quantum however etherium they have a way simpler model and their colony account model now the issue for quantum the challenge for quantum is to connect these two technologies they need to connect a theorem account model and quantum you take soul model based on Bitcoin and they have done that by implementing something called account abstraction layer like this because the whole idea is that quantum want to take the EVM if you’re in virtual machine and just put it on top of quantum you take Sol system so here we just want to put a VM without any major modifications so this is the whole idea without modifying EVM a lot we want to make it communicate and run on top of quantum uth so system which is taken from Bitcoin so this is Bitcoin you take Sol system and so to do that they build this layer in between so that evey can communicate with AAL or account abstraction layer so that EVM just communicates with account abstraction layer IBM doesn’t know about unspent transaction output at all because it only cares about how it usually works the EVM is just running as it usually does in the theorem and then al does the translation to you takes off system and then they can communicate with each other without having to adopt EVM to you take so or vice versa so instead we have a translation layer in between and this is very common in programming this is extremely common in software development that you have two systems they do not need to know about each other they do not need to care about each other because we have a layer in between which makes all of the communication possible and so that EVM can just work as it currently works on the theorem but to make the community communication possible we have AAL in between so this is the technological aspects of quantum finally I want to talk to you about the threats with this project and if you read the quantum white paper and if you listen to them talking you’ll understand that their target group is the industry or the industrial use cases of decentralized applications and smart contracts and as you can imagine the space is extremely crowded for these platforms and we are usually talking about blockchain 3.0 nowadays implosion 3.0 is this vision for the future that we can have massive decentralized applications that we can have decentralized internet because we have blockchain powering these decentralized websites that we will have in the future and steam it is the first example of such a website so version 3.0 is this vision for the future and when we’re talking about the ocean 3.0 would have several platforms promising this vision and yaws is such a platform Cardno is such a platform even if tedium is such a platform if if they are able to upgrade their technology if they’re able to move to proof of state if they’re able to implement sharding and really catch up with us and cut down when those are released of course these platforms aren’t even released so it is a lot of uncertainty regarding them and we will still have to see how they play out but something to keep in mind is that the space is extremely crowded for being a platform for the centuries applications and a huge difference between quantum and platforms such as iOS or Kodama is that years in Kedah know they’re taking a whole new approach they’re bringing a whole new mindset and the whole new world view when it comes to the SunTrust computing when it comes to blockchain when it comes to writing smart contracts for example car download they’re offering functional programming we have huge technological shifts going on here while quantum are utilizing mainstream technology so to speak they’re utilizing Bitcoin and etherium so what I’m curious about is how is quantum going to compare and compete with us and carry on when those are released and this is something we need to be thinking about also if the room has a lot of traction they have a huge community they have aetherium enterprise alliance with corporations and the institutions helping to develop aphelion and quantum is lacking such community is lighting such an alliance so the question is of course will some of these members here go over here and be in both places or will quantum have to build this alliance from scratch do they even need an alliance and I’m very curious to hear your opinions as well what do you think guys what is your opinion on quantum leave your comments in the comment section below smash the bell button so that you’re always up to date and get all of the notifications like the video and if you are a new viewer you should definitely subscribe to this channel because you will find this channel interesting I myself am a software developer and I’ll see you guys next time

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