ODYSSEY, the Singapore-based blockchain foundation, announced that it is exploring the Qtum blockchain protocol, for its ability to offer greater flexibility and cheaper transactions.
oCoin, the official cryptocurrency of ODYSSEY, is currently based on the Ethereum protocol.
Please see the media release below for more details
Singapore, 25 January 2018 – ODYSSEY (OCN), the Singapore-based blockchain foundation, announced today that it is exploring the Qtum platform. Qtum, which is designed to bridge the compatibility differences among various blockchain systems, will enable ODYSSEY (OCN) to leverage on its interoperability, delivering a universal, seamless and open-source system to all users. Additionally, transparency levels on the blockchain will be boosted with Qtum’s capability in providing smart contract solutions. This will help to validate the authenticity of transactions made on the peer-to-peer network.
oCoin, the official cryptocurrency of ODYSSEY (OCN), is currently based on the Ethereum protocol; however, a switch to Qtum would be as simple as porting its solidity code to Qtum. oCoin is designed to complement all sharing economy partners, enabling consumers to purchase products and services using oCoins. Qtum’s Go-Mobile strategy which better handles mobile services with its light client support will drive the usability of oCoins on mobile devices more flexibly and seamlessly. In addition, Qtum’s ability to process more transactions per second than most of the highly-utilised projects today, will result in lower transaction fees, delivering a smoother experience with less cost.
“At ODYSSEY (OCN), we believe in an autonomous and open marketplace that delivers greater efficiency of products and services, while offering reduced operating costs. This exciting collaboration with Qtum will help ODYSSEY (OCN) set the foundations of a seamless, open and robust blockchain system, bringing us closer to making the mass adoption of a crypto-driven economy possible,” commented Sophie Guan, Project Lead of ODYSSEY.
“Today, there are many blockchain systems in the market. However, most of them are not designed for one single system, resulting in incompatibility from one protocol to another,” said Patrick Dai, founder of the Qtum Foundation. “We are pleased ODYSSEY (OCN) is taking a more inclusive approach to their project, and we hope to support them in their quest in driving mass adoption of a crypto-enabled marketplace. We strongly believe projects like ODYSSEY (OCN) will be paramount to the blockchain economy.”