CryptoGrinders was proud to be invited down to this year’s BlockShow Asia, where dozens of up and coming companies presented their Blockchain Projects. There were also many keynote speakers who shared their personal experiences, as well as their opinions on the future of blockchain technology
As the mainstream market grows more and more familiar with the term ‘blockchain’, BlockShow Asia brought together companies with promising blockchain projects who were looking to launch their ICOs.
Blockchain: Beyond Cryptocurrency
Blockchain technology is often conflated with cryptocurrency; indeed it is a key component of what makes cryptocurrencies secure and trustless. It is also much more than that. If you need a refresher on what blockchain is, read more about it here.
Blockchain technology is gaining traction because of its enormous potential to improve our everyday life. A simple example would be with hospital records: using blockchain technology, a doctor would be able to access a patient’s medical history from all previous visits to any other medical facility, as long as the patient gives consent. This is just one simple example of how its potential could be brought far beyond just cryptocurrency.
Qtum In A Nutshell. Drawn by www.ideaink.co
“Combining a modified Bitcoin Core infrastructure with an intercompatible version of the Ethereum Virtual Machine (EVM), Qtum merges the reliability of Bitcoin’s unfailing blockchain with the endless possibilities provided by smart contracts.”
In layman terms, Qtum is using the two most stable technologies out there to create its own unique product. They have 3 key components that make it such a compelling Blockchain Project.
Bitcoin Core Code (modified)
Bitcoin’s Core Code is one of the most stable out there: all hiccups that have occurred along the way have been by human error, rather than anything inherently wrong with the code. Qtum’s modified Core code has an additional ‘Decentralized Governance Protocol’ (DGP). Simply put, it allows owners of QTM to vote and execute changes to certain parameters of the blockchain, such as the block size, without requiring a fork. This provides a flexibility that is unprecedented in the market.
Qtum Virtual machine (QVM)
Since Qtum uses an enhanced version of the Ethereum Virtual Machine (EVM), Ethereum based dApps are able to easily port over to Qtum, and vice versa. This means that Qtum is easily accessible to Ethereum developers, without the barrier to entry of learning a new coding language. It also means that Qtum can leverage on Ethereums large developer community to grow even faster.
Account Abstract Layer (AAL)
The AAL serves as a communication layer that allows the Bitcoin Core to communicate with the EVM, effectively combining the best of both worlds onto a single platform. More than that, it means that Qtum is not limited to projects that run on the existing EVM, but can also be used to run any other smart contract virtual machine.
Ahead Of The Curve
Qtum has already integrated Segregated Witness (SegWit) into their code, and have moved to Proof of Stake (PoS), both of which make their processes more efficient than both Bitcoin and Ethereum.
Bringing so many new things to the table, Qtum is a project that many have shown interest in.
They currently have more than 17 dApps being built on their QVM, and have been backed by large players. Anthony Dio Iorio, co-founder of Ethereum and CEO of JaxxWallet, and Qingzhong Gao, a director of Huawei Strategic Cooperation, are just a couple of the investors who have invested in this Blockchain Project.
Taken From www.pundix.com
PUNDI X (www.pundix.com)
The brainchild of Zac Cheah, Pundi X’s mission is ‘to make buying cryptocurrency as easy as buying bottled water’. To that end, they have introduced the Pundi X POS Device and the Pundi X Pass, along with their token PXS, which acts as the gas for transactions.
Pundi X POS Device
Looking like a sleeker version of the VISA/MasterCard machines that we are so familiar with, the Pundi X POS device is equally portable, and has many more functions.
1. Purchasing cryptocurrency using fiat
2. Selling cryptocurrencies for fiat
3. Topping up fiat in digital wallet
4. Paying of utility bills via cryptocurrency
5. Purchasing of physical goods with cryptocurrency
With a Pundi X machine in merchant shops like 7–11, an individual could purchase a bottle of water, pay for their utilities bill, purchase some QTM, and pay for it all using ETH.
Moreover, the device itself is connected to the internet, meaning that software updates can be performed remotely; a must-have for any scalability.w
Pundi X Pass
The Pundi X Pass is a physical card which lets an individual store cryptocurrency securely, as well as use it for purchases at any Pundi X POS terminal.
It is also planning to integrate a mobile payment pass, much like Apple Pay, so that its users have no need to carry a physical card around.
Their entire business model is focused on ensuring that the layman is able to easily access the benefits of cryptocurrency, without having to devote time to learn how to set up wallets, exchange platform accounts, or how to convert fiat into cryptocurrency and hedge it into alt coins.
With the mass market starting to gain greater awareness of cryptocurrency and its potential, Pundi X comes perfectly poised to target this fresh wave of investors who appreciate speed and convenience.
The BlockShow Asia 2017 was an eye-opening event, where each and every individual has their own dreams of what the blockchain can mean for the world. This field has only just begun to develop, and fresh ideas for how the blockchain can be used are being executed daily. Keep up to date with the best and most promising at CryptoGrinders!