Quantum basically runs an EVM (Ethereum Virtual Machine) which makes smart contracts possible on top of Bitcoin’s blockchain.
Qtum is the first UTXO-based smart contract system with a POS consensus model. According to the QTUM team, with UTXOs it’s more straightforward to validate transactions, and you can process multiple transactions at the same time regardless of sequence. This makes UTXOs more secure and scalable.
So, if the Ethereum Virtual Machine is built on a system that uses account balances, it’s a serious technical challenge to deploy the EVM on the Bitcoin blockchain. QTUM solves this challenge with an Account Abstraction Layer that converts the blockchain’s outputs into account balances and facilitates the transfer of information between the EVM and the UTXO-based blockchain. This abstraction layer is QTUM’s biggest technological contribution.
In the following subchapters, we will describe how to obtain the End-point from the Ankr platform and how to execute RPC calls.