IAME to work with QTUM instead of Ethereum

21 Jun, 2018
by Richard Allen
IAME to work with QTUM instead of Ethereum

IAME, a blockchain technology company has stated that picking the right blockchain to build on is no different than getting married, it's a long-term commitment based on trust (in the lead team), love (of the tech), and filled with hope (of having plenty of dApps together). As such, IAME has announced their decision to work QTUM instead of Ethereum.

It’s important to keep in mind that not all blockchain projects are built with the same objectives in mind. For IAME, their identity framework requires primarily smart contract capacities which are supported by both Ethereum and QTUM.

IAME have stated that QTUM is favourable over Ethereum because QTUM uses UTXO that can apply the simple payment verification (SPV) protocol, making it far more efficient.

Additionally, QTUM operates segwit with 2mb block size and a block time of around two minutes. This translates into 70 tx/s, which will be boosted to 20 000 tx/s through trustless off-chain channels, making smart contract operations on a massive scale feasible.

Considering IAME is a decentralised identification framework purpose built for the cryptocurrency ecosystem, IAME can resolve Know Your Client (KYC), Anti-Money Laundering (AML), and Counter-Terrorism Financing (CTF) problems to bridge QTUM into the regulated world.

Check out Medium.com for all the details.

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