The Rise of Qtum (QTUM)

Qtum (QTUM)

Cryptocurrencies have been rising in recent years, with Bitcoin leading the pack. However, there are many other contenders for the title of top cryptocurrency. One of these is Qtum (QTUM).

Qtum is a relatively new cryptocurrency, having only been launched in 2017. However, it has already seen significant growth. In this article, we will look at the factors that contributed to Qtum’s success.

What is QTUM?

Qtum (pronounced ‘Qum’) is an open blockchain platform and value transfer protocol with centralized and transparent blockchain technology. This is intended as a way for blockchain technology and Bitcoin to be combined into one chain.

Qtum is a cryptocurrency and blockchain platform combining the best of Bitcoin and Ethereum. Qtum is built on a fork of the Bitcoin core and uses the Ethereum Virtual Machine (EVM) to run smart contracts.

This hybrid approach allows Qtum to combine the stability of Bitcoin with the flexibility of Ethereum. Qtum is also compatible with several existing protocols and platforms, which makes it easy to integrate into existing systems.

Qtum is built on Bitcoin’s UTXO transaction model and offers advanced functions for smart contracts execution and DApps. In recent weeks a DeFi application was added to its software package.

In March 2020, more than 20 tokens will be added to the Qtum Blockchain. For information regarding the project, please read our extensive research on Quantum. In March 2016, an IPO was launched, which brought $15M in cash from its founder.

Qtum has several features that make it an attractive option for investors and businesses.

These include: 

  • Decentralized Governance Protocol: Qtum uses a consensus mechanism called Proof-of-Stake (PoS) to govern the network. This means that decisions about the direction of the Qtum platform are made by the token holders rather than a central authority. QTUM’s account abstraction layer also means that it can support a wide range of virtual machines, including those for Java, Go, and Python.
  • Flexible Smart Contracts: Qtum’s use of the EVM means that it can run any smart contract written in Solidity, the programming language used for Ethereum contracts. This makes it easy to develop and deploy applications on the Qtum platform.
  • Stability and Scalability: Qtum’s hybrid design makes it more stable and scalable than pure Bitcoin or Ethereum blockchain solutions.

All of these factors make Qtum an appealing option for businesses and developers.

Qtum’s growth can be attributed to several factors:

  • First, the platform’s hybrid design makes it an attractive option for businesses and investors looking for a stable and scalable blockchain solution.
  • Second, Qtum’s use of the EVM makes it easy to develop and deploy smart contracts on the platform. This has made Qtum an attractive option for many businesses and organizations.
  • Third, Qtum’s decentralized governance protocol gives token holders a say in the direction of the platform. This has led to a strong community of supporters who are invested in the success of Qtum.
  • Fourth, Qtum has several partnerships with major organizations, which has helped to raise its profile and increase its adoption.
  • Finally, Qtum is one of the few cryptocurrency projects a major venture capital firm backs. This has helped to give Qtum the resources it needs to grow and scale.

The Ethereum Virtual Machine

Ethereum is the second-largest cryptocurrency by market capitalization and has a very active development community. One of the main attractions of Ethereum is its smart contract functionality. Smart contracts are programs that run on the blockchain and can be used to automate transactions.

Qtum combines the security of the Bitcoin blockchain with the smart contract functionality of Ethereum to create a powerful and flexible platform.

QTUM Foundation

The QTUM Foundation is a Singapore-based non-profit organization that oversees the development of Qtum. The QTUM Foundation was founded by Patrick Dai, Neil Mahi, and Jordan Earls.

Dai is a former Alibaba Group executive with a background in electrical engineering. Mahi is a software engineer who has worked on projects for the U.S. Department of Defense. Earls is a Qtum core developer and has a background in software engineering.

The QTUM Foundation is funded by several major investors, including Fenbushi Capital, the venture capital firm founded by Ethereum co-founder Vitalik Buterin.

Qtum Partnerships

Qtum has partnerships with several major organizations, including Google, Alibaba, and Wachsman.

Google is a multinational American technology company specializing in Internet-related services and products. Alibaba is a Chinese e-commerce company that operates the world’s largest online marketplace. Wachsman is a global professional services firm that specializes in blockchain technology.

These partnerships have helped to raise the profile of Qtum and increase its adoption.

The QTUM Token

The QTUM token is the native currency of the Qtum blockchain. QTUM tokens are used to fuel transactions on the Qtum blockchain. QTUM tokens can also be used to pay for gas, the fee charged for running smart contracts on the Qtum blockchain.

Qtum coin was issued as an ETH-20 token and was later migrated to the QRC-20 standard. The QTUM token is traded on cryptocurrency exchanges, including Binance, Huobi, and OKEx.

The QTUM token is used to fuel transactions on the Qtum blockchain. QTUM tokens can also be staked, which allows users to earn rewards for validating transactions.

The circulating supply of QTUM tokens is approximately 88 million. The total supply of QTUM tokens is 100 million.

How Many Qtum Coins are Circulated?

The QTum white paper notes that the QTum initial supply was 100 million and was all minted within minutes of the launch. ICO sales of 51 million coins are expected to continue through April 2018.

In addition, a total of 8 million euros has come to private investors, and 12 million dollars were given for development. The remainder is administered to the Qtum chains Foundation, a registered non-profit organization that receives the report in four segments beginning in February 2021.

This amount represents 20 million coins annually, and 9 percent of these are devoted to research and promotion.

History of QTUM

Qtum was founded in 2016 by Patrick Dai, Neil Mahi, and Jordan Earls. The QTUM Foundation is based in Singapore.

The QTUM token was launched in an ICO in March 2017 and raised $15 million.

Qtum was initially built on the Bitcoin blockchain but later switched to its fork of the Bitcoin blockchain.

In 2018, Qtum launched a mainnet swap and moved QTUM tokens from the Ethereum blockchain to the Qtum blockchain.

QTUM Use Cases

Several businesses and organizations are using Qtum.

One of the most notable Qtum use cases is QRC20, a standard for tokens built on the Qtum blockchain. QRC20 tokens can be used for various purposes, including loyalty and rewards programs.

Another Qtum use case is QDEX, a decentralized exchange that allows users to trade QTUM tokens and QRC20 tokens. QDEX is designed to be user-friendly and easy to use.

The Chinese government is also using Qtum. The Shenzhen Court of International Arbitration has announced that it will use Qtum to create a blockchain-based platform for dispute resolution.

The QTUM Foundation has partnered with the PwC Charities arm to launch a blockchain-based donation platform. The platform will allow donors to track where their donations are going and how they are being used.

How Does Qtum Work?

The Qtum team modified Bitcoin to give developers Ethereum-like smart contracts applications. In simple terms, it replicates Bitcoin transaction models, and an additional layer on top operates similar to EVM on Ethereum, executing all its smart and decentralized software.

Like Ethereum, Qtum has created virtual machines enabling developers to develop programs on its distributed computer networks. The QTUM virtual machines are compatible with the Ethereum Virtual Machine (EVM) and the Bitcoin Virtual Machine (BVM).

The QTUM Foundation has also developed several tools and services to help developers build applications on the Qtum blockchain. These tools and services include a Developer Portal, a QTUM Explorer, and a QTUM Wallet.

How to Buy QTUM?

QTUM can be bought and sold on cryptocurrency exchanges, including Binance, Huobi, and OKEx. QTUM can also be bought with fiat currencies such as USD, EUR, and CNY.

QTUM can be stored on several cryptocurrency wallets, including the QTUM Core Wallet, the QTUM Electrum Wallet, and the Qwallet.

Qtum vs. Ethereum

Qtum and Ethereum are both blockchain platforms that allow developers to build decentralized applications. Both Qtum and Ethereum use virtual machines to execute smart contracts.

However, there are a few critical differences between Qtum and Ethereum. 

  1. Qtum uses a modified version of the Bitcoin blockchain, while Ethereum uses its blockchain.
  2. Qtum has created its virtual machines, while Ethereum uses the EVM.
  3. Qtum is compatible with both the EVM and the BVM, while Ethereum is only compatible with the EVM. Qtum is a member of the Linux Foundation, while Ethereum is not.
  4. Qtum has several resources available to developers, including a Developer Portal, a QTUM Explorer, and a QTUM Wallet.
  5. Ethereum also has several resources available to developers, including a developer portal, a blog, and a YouTube channel.
QTUM Price

Qtum price was $ 2.64, up 0.37% from last week’s time. Qtum has now been listed on NASDAQ as having a market cap of $257,072,474.58. The QTum has changed 59.5% in the past two years compared to last year. Qtum has become an application platform under CoinDesks Digital Asset classification standard DAS.

QTUM is Qtum’s native cryptocurrency, combining smart contract elements in Ethereum with stable blockchain features in Bitcoin, and uses a proof-of-stake mechanism to verify ownership.

Qtum Roadmap

The Qtum Foundation has released a roadmap outlining its plans for the future development of Qtum. Qtum network is working on improving its service and the use cases of the token.

The team hopes Qtum will hit the highest price in the following years. As you can see, the Qtum Foundation has aggressive plans for the future development of Qtum.

Investment Advice

Qtum is an open-source public blockchain platform that combines the advantages of both Bitcoin and Ethereum and also supports decentralized applications and smart contracts. Qtum uses a proof-of-stake consensus mechanism and is one of the first blockchains to implement Lightning Network technology.

Qtum has a strong development team and a large community of supporters. It is also backed by a number of well-known investors, including Sequoia Capital, Anthony Diiorio, and Roger Ver.

Qtum is a good investment for those looking to invest in a blockchain platform with a strong development team, a large community of supporters, and good backing from well-known investors.