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February Community and Development Updates

•2022-03-06 21:49

1.%20February%20Smaller

Qtum kicked off the year of the Tiger with some interesting reports that shed further light on one of the most fundamental building blocks of the ecosystem – staking.

The Staking Report

Qtum released a staking report for January 2022, which you can read here:

Qtum Mainnet Staking Update

Here are some numbers from the report:

  • 83,703 blocks were mined in January with 32-second block spacing at 2,700 blocks per day.
  • There are 1,350 QTUM in newly minted QTUM for block rewards each day.
  • Qtum had 2,158 unique stakers, 25 active super stakers, and 274 active delegated addresses.
  • Addresses delegated to super stakers accounted for over 50% of the blocks.
  • Network Weight 6.4 million, annual return 7.5 %, inflation rate 0.47%, real annual return 7.03 %.

A Year of Transaction Fees

Qtum published a blog that reviewed all the transaction fees on the Qtum mainnet for 2021. You can read it here:

A Year of Transaction Fees

In Qtum, the block rewards for staking wallets or delegating addresses have two parts:

  • The “subsidy” of newly-minted QTUM
  • The transaction fees and gas

In 2021, our data set from January 1, 2021, to December 31, 2021 consisted of blocks 764,515 to 1,508,489. Here are some interesting numbers:

  • In 2021 the subsidy dropped from 4.0 QTUM to 1.0 QTUM due to the hard fork and then to 0.5 QTUM due to the December halving.
  • On average, 373 QTUM was paid in fees per month at approximately 12.4 QTUM per day. The only exception here was February 2021 which had fees worth 4,109 QTUM due to airdrops.
  • The top 10 blocks by fees all occurred in February, making it easily the most lucrative month for our stakers.

Developer Updates

  • Pull request #966 released to update Qtum core to Bitcoin 22 https://github.com/qtumproject/qtum/pull/966 with P2P networking and RPC enhancements, and hundreds of fixes, see https://bitcoincore.org/en/releases/22.0/

2.%20Pull%20Request

With this pull request, Qtum core will be updated to the Bitcoin Core 22 version. The code also contains previous updates which need to be configured for mainnet and testnet.

The configuration file chainparams.cpp needs to be updated for mainnet and testnet for Taproot activation to those networks The files contain a parameter called consensus.nLondonHeight that can be used to set the activation block for the EVM London fork.

  • Begin scoping NFT enhancements to Qtum Core.
  • Qnekt browser extension wallet addition of WIF private key import, working on WIF export. Beginning Qnekt wallet alpha test.

3.%20Qnekt%20Wallet

  • Work continues integrating an oracle API to Qtum, and some website updates.

Blog Updates

We published a blog on “Why Qtum is the Real Evolution of Bitcoin.”

Why Qtum is the Real Evolution of Bitcoin

“By combining Bitcoin’s original UTXO model with Ethereum’s game-changing EVM (Ethereum Virtual Machine), Qtum has created a blockchain that’s the most organic and obvious evolution of the original Bitcoin blockchain.”

Third-Party Blog Updates

Thank you, ZyCrypto, for mentioning Qtum in your article on “The Role of EVM in Blockchain Project Evolution.”

Tweet

"#Qtum provides the benefits of being an unspent transaction output (UTXO) blockchain combined with Proof-of-Stake (PoS)...Its deployment of the Janus version of the EVM has enabled the Qtum blockchain to be one blockchain to watch out for."