Qtum Price Drops after Its Principal Engineer Quit His Job

May 7, Qtum’s principal engineer Xu Xiaolong (Stephen Xu) posted a statement on his WeChat Moments to claim that he has quit his job. After that, Qtum price traded down -7.81% against American dollar and is currently trading at $19.81.

Xu is an experienced core developer, he got a Master’s degree from Chinese Academy of Sciences and has worked at Microsoft and Timi Studio Group, a mobile game developing studio of Tencent.

In the statement, Xu said that, “Time flies and it has been one year since I left Tencent and joined Qtum. Today, I choose to quit and I believe every choice is a new star. It was appreciated that Patrick Dai and I have joined hands together to witness the rise and fall of this industry. In the future, I will still work on this area, but in a different role.”

It was reported that, both Momo Chang, the founder of DREP and Xu attend the agreement signing ceremony of Sino-Singapore Innovation Alliance (SSIA) in late April in Shanghai and Xu is also a technical adviser in DREP. Although Xu has not disclosed his career plan, many industry insiders guess that he is more likely to join in DREP after he left Qtum.

The DREP foundation was founded in Singapore in early 2018. It provides the decentralized solution to quantification and monetization of cross-platform online reputation.By distinguishing fake news and accounts, establishing user growth system and increasing retention rates, building the users’ reputation data sharing pool for Decentralized Reputation Apps, DREP Foundation has internally incubated and jointly developed 4 applications based on online reputation and content, which will be published shortly.

Xu used to state that, internet thinking is focus on the traffic, users and the “closed loop” while blockchain thinking is underlining open, win-win and transparency. He emphasized that,

“The design of the entire token economic model is the core of a blockchain project. The technique is important but the economic model is even more concerned.”

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