Amazon Web Services’ (AWS) Chinese division just partnered with Qtum.
The partnership will see the on-demand cloud computing giant work with blockchain. This is in an attempt to develop a BaaS solution for companies and developers. Furthermore, it will allow AWS users to develop and launch smart contracts. They will be able to accomplish this using an Amazon Machine Image (AMI), according to CoinDesk.
Qtum Partnership with Amazon
“We are going to work together [with Amazon] to contact different customers and clients. We’re looking into use cases, and the best way to do it is to have a contact with companies who have those use cases,” Palencia said. “Some clients have their own ideas and their own developers, and some of them want more support from us, want to talk to us directly.”
Qtum Addresses Concerns about Scalability
Moreover, he Singapore-based, open-source platform is tailored to the needs of businesses. It aims to solve scalability issues while offering a product that is convenient and secure.
Additionally, Qtum (QTUM) can be described as a hybrid of Bitcoin (BTC) and Ethereum (ETH). Their model incorporated the best from both worlds.
The Advantage of UXTO
Users create smart contracts, while an Unspent Transaction Output, or UXTO store the records. In a nutshell, the UXTO is a less expensive, condensed version the blockchain ledger.
Therefore, the company gained momentum partly because consumers regard smart contracts and UXTO as incompatible by definition. Smart contracts are independent. Therefore, the real innovation of the company is their Account Abstraction Layer. In layman’s terms, this is a translator between the two systems.
QTUM has accomplished a lot since Launch
However, it is possible that things are looking up for the company since they made their ecosystem more secure. In September, the team released their Core update that seemed to have fixed the significant bugs they faced in the past. They now boast default HD and segwit wallets. They will even be releasing a revamped website soon to accommodate these new additions. Furthermore, their new mobile wallet is nearly ready for deployment on iOS and Android. Additionally, previews indicate it should be a very user-friendly design.
They’ve also improved their Chinese translations and have updated the security of their virtual machine. Furthermore, the update has resolved several issues with gas refunds.
In short, keep an eye on QTUM. The latest partnership with Amazon is a big one.
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