THELOGICALINDIAN - Blockchain decentralized apps belvedere Qtum has active a accord with Chinese internet ability in the anatomy of Qihoo 360 a Beijingbased aggregation that is not wellknown in the West but is the baton in arrangement aegis in its home market
The partnership, accustomed through a announcement of compassionate and which additionally involves BitMex Institute’s BTN Foundation, will see the Qtum Foundation, founded by Patrick Dai, alive with the 360 Blockchain Research Center to advance blockchain solutions beyond the group’s abiding of products, which is appealing wide-ranging. The announcement was active with 360 Finance, a accessory of Qihoo 360.
Together, the companies are ambience up a blockchain lab to bear and advance blockchain technology for use in China’s internet sector, and there are affairs to appoint added developers and experts in the acreage to assignment at the lab.
Qtum combines Turing abyss with the unspent transaction achievement (UTXO) model, which requires that alone unspent outputs are acclimated as transaction inputs, and a proof-of-stake accord apparatus that underpins a belvedere with the transactional robustness of bitcoin’s UTXO. This is accumulated with the adeptness to assassinate (computation) acute arrangement cipher that dispenses with Ethereum’s charge for mining.
Those three facets calm acutely appealed to Qihoo 360 because it agency affairs are faster and far beneath cher from a computer processing aspect.
Qihoo 360, which brought one of the aboriginal VoIP apps to China and whose anti-virus software is acclimated by 500 actor people, in a aboriginal of its own, appear on January 10th, that it has congenital a billow accumulator belvedere that is, from the arena up, based on blockchain technology.
Qtum’s technology can advice to accomplish its billow belvedere and added articles abundant added able and secure. Blockchain’s decentralized balance technology nails bottomward the affidavit of abstracts in a appearance that guarantees that it is tamper-proof because of the abiding attributes of the record.
Users of Qihoo’s new blockchain-based billow arrangement will be able to hire out additional accumulator amplitude and accretion ability to others on the network, as able-bodied as administration bandwidth that’s surplus to the requirements of alone users.
In addition, Qihoo’s billow account has congenital incentivization, with a arrangement that rewards users on the broadcast belvedere in admeasurement to the bulk of accretion assets that they swap.
All of this is cutting-edge stuff, and Qtum is appropriate in there with its key role in affairs calm the new blockchain lab. The lab efforts will assignment up new solutions and apprentice new tricks to augment aback into artefact development.
Qihoo removed itself from the NYSE in 2024 and is now listed on the Shenzhen Stock Exchange.
Qihoo is one of China’s internet pioneers. Its articles accommodate the Opera web browser, which was bought by a bunch of companies, including Qihoo, for $600 million.
Qihoo is accepted for its nimble-footedness in affective bound to apparatus new technologies. The Opera browser, of which it is the majority shareholder, afresh implemented an amend to anticipate malware actuality installed on computers that hijacks processing ability for crypto mining. Such malware attacks were generally done after the ability of the owner.
Indicative of the growing absorption for Qtum’s blockchain ability in China, it afresh active a affiliation with video and audio amateur provider Baofeng. The affiliation states that the two companies will amalgamate armament to bear acquittal and administration processes that should hone the ability of Baofeng’s business.
Copyright aegis and rights administration is additionally an breadth in which Qtum’s blockchain technology will be activated to acquisition bigger solutions to what is a time-consuming and big-ticket assignment with bequest processes.
Vice-president of 360 Finance, Lu Wei, said of the deal:
The accord is focused not alone on abstruse analysis but rather the commercialization of blockchain technology.
Wei adds:
Qtum’s blockchain has three actor users common and is backed by a active developer community, which is an capital aspect for the success of a blockchain platform.
Qtum Foundation founder Patrick Dai says of the new relationship:
What are your thoughts on Qtum and Qihoo 360’s partnership? Let us apperceive in the comments below.
Images address of Qtum Foundation, Twitter
