QTUM 2.0: First Successful Hard Fork Among Proof of Stake (PoS) Blockchains

    QTUM announced the first successful hard fork of its proof of stake (PoS) blockchain on Thursday.

    According to the official post on Medium, the development team discovered a number of imperfections on its consensus algorithms which led to the fork occurring. The Qtum 2.0 blockchain incorporates new smart contract opcode additions proposed by the community to enhance smart contract functionality.


    QTUM 2.0 hard fork upgrade occurred on block 466,600 (Image: Medium)

    QTUM 2.0 Hard Fork Occurs on Block 466,600

    The cryptocurrency community voted on the hard fork happening once the 466,600th block was mined. According to the QTUM blockchain explorer, the block was mined on October 17th bring a wave of developments on the blockchain that solve the scalability and smart contract challenges on consensus algorithms.

    The fork has activated a wide array of possibilities on Qtum blockchain including an Ethereum Virtual Machine (EVM) upgrade and smoother block difficulty adjustments. The official QTUM page tweeted,

    QTUM responds on some of the qualities of QTUM 2.0 (Source: Twitter)

    The New Upgraded QIP Protocols

    The new upgraded blockchain includes for major improvements and additions on the platform. The QIP 5, QIP6, QIP7, and QIP9 will all be updated on to the platform for better consensus algorithms.

    The QIP 5 upgrade “adds signature verification to the output script of the contract transaction”. Furthermore, the QIP 5 (and QIP 7) upgrades will allow exotic and complex smart contract execution and room for future upgrades.

    “The QIP 6 consensus protocol upgrade “adds btc_ecrecover precompiled contract to the Qtum EVM; QIP-7: Upgrade the Qtum EVM to the latest Ethereum EVM Constantinople; and QIP-9: Modify the difficulty adjustment algorithm to make the block time more stable.”

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Lujan Odera
    Lujan Odera
    Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Open Interest on CME Bitcoin Futures Outgrowing BTC Price

    If BTC closes above the 200-day moving average, just above $9,000, we could see $10k Institutional investors leading the way for a new...

    Here’s How DeFi’s Smashing Growth Puts a Trillion-Dollar Case for Ethereum

    Total USD value locked in DeFi surpasses $800 million creates “a new paradigm for global finance” with one common theme Ether The trillion-dollar...

    This Uncannily Accurate Bitcoin Chart from Dec. 2018 Predicts a New ATH in 2020/21

    Analyst ‘s post from Dec. 2, 2018, correctly predicts Bitcoin’s bottom and momentum in 2019 Bitcoin price is currently hovering around $9,000 after surging...

    Lawmaker Proposes Bill For State-Chartered Institution For Blockchain & Crypto Innovations

    An Oklahoma lawmaker has come forward with the proposition of creating a financial institution chartered by the state and that functions as a central...

    Block.One's ‘Voice' Social Network Has An Open Door Policy To Other Blockchains, Not Just EOS

    During its June ICO, had indicated that its Facebook rivaling social network dubbed Voice, would be launched on the EOS network. However, plans...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.