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Patrick Dai expressed: Qtum is the First UTXO based Smart Contract system. UTXO is a simulation of Cash system brought by Bitcoin.
Qtum is supporting lighting network too. Try it.
For clarity, Qtum Eclair is A Lightning Network Client. For processing massive transactions, scalability is very important.
At present, Bitcoin network is capable of achieving up to 7 TPS. The Qtum network will be able to achieve ten times that of Bitcoin; however, it is still not sufficient for massive transactions. When transactions in e-commerce application scenarios peak, performance and storage issues arise.
Lightning Network solution as a decentralized system helps achieve real-time massive transactions without trusting the other party or the third parties.
The primary idea is that the two parties in the lightning transaction create a payment channel using the transaction script on the chain. Once created, the subsequent transactions take place by linking multiple channels. Thus any two peers in the network will be able to perform fund transaction and complete the value transfer without having to trust third parties for custody and settlement of funds. These transfers take place smart contracts that exist between the untrusted parties.
When using Qtum Éclair when the channel is closed, the remaining Qtum in the channel will be refunded to the Qtum Core wallet.
Qtum Eclair needs a synchronized, non-pruned Qtum Core wallet which will supports segwit, zeromq, transfer, and transaction indexing. Qtum Eclair will make use of any Qtum which it will find in the Qtum Core wallet to pay for any lightning network channels, which one chooses to open.
Community response: Quantum Coin needs a rebranding announcement now. Otherwise, customers will leave.
Rebranding is the process of changing the corporate image of an organisation. It is a market strategy of giving a new name, symbol, or change in design for an already-established brand. The idea behind rebranding is to create a different identity for a brand, from its competitors, in the market.
For clarity, UTXO stands for ‘unspent transaction output’. Similar to how a coin or note cannot be divided into a smaller denomination, an UTXO cannot be further divided. In other words, it is an indivisible chunk of a native token controlled by the private keys of owners.
The UTXO is more efficient at simplifying scaling solutions like state and payment channel constructions, as well a sharding.
The UTXO set is stored in the chain state, which is a LevelDB database that provides persistent key-value storage.
