Qtum Joins Forces With Qihoo 360

360 Finance, part of Qihoo 360, BTN Foundation and QTUM signed cooperation memorandum in order to develop blockchain solutions
17 January 2018   1106

Qtum has signed a deal with Qihoo 360 from China. This is reported by Use The Bitcoin. 

Qihoo 360 is well known in its country dealing with network security issues in the market. The partnership also involves BitMex institute’s BTN Foundation. Qihoo 360 is the creator of popular anti-virus that is used by more than 500 million users in the world, mainly in China.

360 Finance, part of Qihoo 360, BTN Foundation and QTUM signed the cooperation memorandum. These companies joined forces in order to develop blockchain solutions across the group`s products. 

The strategic alliance of 360 Blockchain Research Centre, BTN Foundation, and Qtum Foundation is an instrumental part of our global strategy in diversifying the portfolio and industry reach of our ecosystem.
 

Lu Wei 

Vice-president, 360 Finance

As reported, Qihoo 360 has chosen Qtum because it allows to process fast transactions with cheap fees. Additionally, Qtum offers the ability to execute smart contracts, something of importance for the company.  

Kraken to Add Bech32 Support for BTC and QTUM

Bech32 format corresponds to addresses that support sending transactions using SegWit scaling technology
08 November 2018   560

The popular American cryptocurrency exchange Kraken announced the long-awaited integration of Bech32 addresses for Bitcoin and QTUM.

To date, Bech32 addresses have been integrated only for withdrawal operations. Bech32 addresses start with “bc1” and “qc1” for bitcoin and QTUM, respectively. Support for Bech32 addresses for depositing operations will be implemented soon, the company promises.

The Bech32 format corresponds to addresses that support sending transactions using SegWit scaling technology, activated in the Bitcoin blockchain about a year ago. According to the transactionfee.info portal, by now the share of SegWit transactions in the Bitcoin blockchain has again dropped to 42%, after being briefly close to 50%.

Earlier, the Kraken exchange stated that it supported the launch of SegWit in the bitcoin blockchain and uses the Bech32 format to make transfers in its internal systems, but refused to provide customers with access to such addresses until the technology is integrated into large wallets such as Bitcoin Core. Release of Bitcoin Core 0.16.0 with support for SegWit was held in February of this year.

Get more info on Bech32 at GitHub.