The cloud computing giant Amazon Web Services in China and the crypto currency Qtum from Singapore announced a few days ago that they want to combine important functions of blockchain technology with the cloud through a cooperation. A big step for Qtum, which started as a crowdfunding project and is slowly but surely making a name for itself in the financial and economic sector!
supplement: QTUM and Amazon’s AWS…https://t.co/4IEs8JfAUe
– CryptoCabinet (@KryptoCabinet) October 18, 2018
Qtum – A crypto currency between Bitcoin and Ethereum
When Qtum was founded, the development team wanted to create a link between the two largest crypto currencies in the world and produce a hybrid of Bitcoin and Ethereum. Qtum focuses on applications such as dApps, while token trading is of secondary importance. This is one of the reasons why many brokers like eToro [Insert internal eToro review page here] do not yet offer the currency. With the current developments, however, this could change soon. The blockchain of Qtum has a so-called Account Abstraction Layer, on which virtual machines can be replicated.
With the Ethereum Virtual Machine (EVM) Smart Contracts and dApps can be implemented on the Bitcoin blockchain, which does not work with Bitcoin itself. These functionalities are the reason why Qtum can present itself as a blockchain for economic applications. So it is no wonder that big companies are interested in implementing Qtum into their systems.
Partnerships with Qtum
Before the news about Amazon Web Services became known, Qtum stood for another partnership in the headlines of Crypto News. Together with the Canadian company Etherparty Smart Contracts Inc., Smart Contracts should be particularly easy to conclude. Etherparty’s largest software project runs under the name “Rocket” and is a global marketplace for Initial Coin Offers. This will make it easier for developers of new blockchain technologies to obtain financing for their projects via crowdfunding. Through the new cooperation with Amazon Web Services, Qtum has taken a big step into the future.
The industrial giant and the crypto currency want to jointly provide blockchain solutions for companies. Amazon Web Services users should be able to conclude smart contracts in a simple, fast and cost-efficient way using Amazon Machine Image (AMI). Simon Wang, head of business development at Amazon Web Services, announced in an email to CoinDesk that Qtum is not only a partner of the company, but also part of the partner network. This could result in further exciting partnerships.
SF QTUM Partners With Amazon Web Services to Bring Blockchain-as-a-Service to AWS https://t.co/DDCrkamRDA pic.twitter.com/iOeLU85ive
– CoinCalc (@CoinCalc_) October 18, 2018
In the race of crypto currencies
Qtum was founded in Singapore and was able to raise 1 million US dollars as a public blockchain a year ago from investors such as Anthony Di Iorio, founder of OKCoin Star Xu and the founder of BitFund Xiaolai Li to realize the project. In the meantime, the crypto currency has made it into the top 30 blockchains and could soon be used in many areas of the economy. And that in turn could have a big impact on Qtum’s price. Since the prices of the currencies on the crypto exchanges depend strongly on such positive or negative announcements, the announcement of the partnership could already lead to an increased purchase of Qtum.
Thanks to the partnership with Amazon Web Services, Qtum is currently in the spotlight of the crypto community. We will keep an eye on how the range of blockchain technology develops!