July brought some nice developments on the audit front. With the bridge and MetaMask wallet audits finished, we can focus on the rollout phase of the bridge. We’re deploying this to bring the Circle USDC stablecoin to Qtum to stimulate Web3 activity and DeFi.

Now that the MetaMask Snap passed an audit by Sayfer, we can submit our Snap to the Consensys Snap Directory. In order to do this, we had to use an approved auditing company, and Sayfer was one of them. It’s pretty trivial to submit our Snap to Consensys, mostly filling out forms, which we’ll have wrapped up in early August. 

Our goal in August is to get a working test network of the bridge online. We can’t control how long Consensys will take to decide whether to list the Qtum Snap on their directory or not, but we can’t see there being any issue as the code has been audited. 

Bridge Updates

Certik audit is now public

We're making more progress toward Circle USDC being bridged to Qtum. The Certik audit of the Qtum-Ethereum bridge is now public and can be viewed here: https://skynet.certik.com/projects/qtum 

You can also see some detailed information about the development activity at Qtum in the other tabs. 

Sayfer audit is complete

To support our upcoming implementation of Circle's "Bridged USDC Standard" on Qtum, we developed a MetaMask Snap wallet. The audit just came back from @SayferSecurity, which can be viewed here: https://sayfer.io/audits/metamask-snap-audit-report-for-qtum/…

Qtum 2024 Breakdown: Jan - July

In addition to July’s update, we decided to discuss some of the past updates from 2024 as we’ve been quite busy over the last year.

Qtum Core

Qtum Core serves as the foundational layer 1 blockchain, integral to the entire Qtum ecosystem since its launch in June 2017. With 48 GitHub releases, each comprising patches, updates, and new features. 

Qtum Core is a UTXO blockchain based on Bitcoin Core but employs staking instead of Proof-of-Work. It utilizes an "Account Abstraction Layer" to deploy the Ethereum Virtual Machine. This permissionless blockchain allows anyone to operate a validator node without needing token ownership or delegation. 

Notable updates include the integration of Bitcoin Core 25.1 and improvements in ledger device support. Future versions aim to incorporate the Ethereum "Dencun" update.

Qtum Ecosystem 

Qtum Bridge

The Qtum Ecosystem in 2024 focuses on deploying Web3 infrastructure, including a bridge between Qtum and Ethereum for the Circle USDC Stablecoin. Despite being slightly behind schedule, the core bridge software has passed audits with moderate issues addressed. A test network is expected to be public by August 2024. 

Qtum Bridge

BRC-20

Additionally, the integration of the "BRC-20" token standard and support for Ordinals is underway. This functionality allows Qtum to host a “dual token standard” setup, where BRC-20 lives alongside the QRC-20 token standard. Note that QRC-20 uses the same smart contract code as ERC-20. Now that the test environment for BRC-20 has been deployed on Qtum, we plan to roll out this in full later in 2024:

QBRC20 (qtum.info)

Qtum AI

Qtum also ventured into artificial intelligence with the launch of "Qtum Qurator," an AI image generator, and "Qtum Solstice," an AI chatbot powered by 10,000 Nvidia GPUs. These AI products mark Qtum's entry into the AI ecosystem.

QTUM.AI:Bring AI to QTUM

Warm Regards, The Qtum Team.

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