Qtum network hosts first major hard fork

The first hard fork with the transition to Qtum version 2.0 was successfully carried out in the Qtum blockchain. As part of the hard fork, updates have been added to improve the functionality of smart contracts and their performance.

The new version of Qtum 2.0 provides a higher transaction speed (an average of 12.5%), and also reduces the cost of their implementation. According to the developers, Qtum is a network of new generation decentralized applications, on the blockchain of which it is possible to host user and corporate applications.

Thanks to Qtum 2.0, gas will be used more efficiently, and transaction processing fees can be paid by third parties. Application developers will be able to take on the costs of users to expand their customer base. This allows new users to immediately use decentralized applications without having to buy cryptocurrency.

In addition, hard fork will simplify the development of smart contracts
and their implementation. The Qtum blockchain combines the key functions of the PoW and PoS algorithms, supporting decentralized finance and applications.

“The transition to Qtum 2.0 will make our site more convenient and stable. We are confident that this update will solve many problems that arise when using smart contracts, as well as expand the potential of applications and provide a higher level of privacy, ”said Patrick Dai, co-founder of Qtum.

Recall that in May Qtum began working with Google Cloud to simplify the ecosystem to make it accessible to a wide audience. A year ago, the company entered into an agreement with Amazon Web Services to quickly and cost-effectively create smart contracts using the Amazon Machine Image tool.

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