Qtum

Qtum

QTUM
$4.81%4.49

Key Metrics

Price$4.81
Real Volume (24H)$59,464,081.48
Marketcap$503,620,090.47
Fully Diluted ValuationN/A
ATH$100.22
ATH Date1/6/2018, 3:00:00 AM
ATL$0.783142
ATL Date3/13/2020, 5:22:57 AM
Circulating Supply104M
Total Supply108M
WhitepaperQtum whitepaper
Popularity Rank162
Chart
What is Qtum?

Qtum is a public blockchain platform that aims to combine the best features of Bitcoin and Ethereum, making it suitable for adoption by large organizations outside the crypto space. It is an open-source platform that leverages Ethereum's smart contract functionality and combines it with the security provided by Bitcoin's unspent transaction output model (UTXO).

The Qtum platform is based on a Proof of Stake (PoS) consensus model and uses a Decentralized Governance Protocol (DGP) that allows for blockchain settings to be modified through smart contracts. This means that block size can be increased on the Qtum chain without a hard fork.

The native token of the Qtum platform is QTM. It can be used to pay fees on the platform and also offers voting rights to holders on the platform's development.

Qtum was founded in 2016 by the Qtum Foundation, a non-profit organization based in Singapore that develops software. Its founding members are Patrick Dai, Jordan Earls, and Neil Mahl. The initial coin offering (ICO) was held in March 2017 and raised $15 million by selling 51% of the 100 million QTM total supply. The Qtum platform went live in October 2017.

Qtum's goal is to combine the best features of both Bitcoin and Ethereum to create a secure exchange for business-focused, decentralized applications (dapps) that can be utilized by industries such as finance and social networking.

To achieve its vision, the Qtum Foundation modified Bitcoin's code by adding Ethereum-style smart contract features to it. This allows users and creators to write and run smart contract applications on the Qtum ecosystem.

Qtum's transaction model is an exact copy of Bitcoin's UTXO transaction model, but it also added an additional layer that operates in a similar fashion to the Ethereum virtual machine (EVM), which executes smart contracts and allows for decentralized applications.

The Qtum platform has built its own virtual machine, allowing developers to write and execute programs across Qtum's distributed network of computers. Its global nodes are distributed on six continents, and the number of Qtum nodes is only exceeded by Bitcoin and Ethereum.

Qtum also added its own features to the platform, such as the Account Abstraction Layer (AAL) which allows for smart contracts and the UTXO model to interact. Additionally, Qtum's PoS process is more energy-efficient than the Proof of Work (PoW) model used by Bitcoin, which consumes more electricity annually than entire countries.

Qtum offers a multi-wallet ecosystem for users across iOS, Android, Windows, Mac, Linux, hardware wallet, web, and other clients. The QTM token can be used to pay fees in the network and it also gives voting rights to holders through its on-chain governance system, meaning that those who hold QTM can influence the direction of the platform's development.

In addition to its core features, Qtum also has a number of partnerships and collaborations that have helped to drive its adoption and growth. For example, it has partnered with the Baofeng Bokocloud, a major Chinese internet service provider, to launch a blockchain-based content distribution platform. This partnership gives Qtum access to a large user base and a wide range of content creators, which in turn helps to drive the adoption of the Qtum platform.

Another key area of focus for Qtum is its use in enterprise and institutional settings. The platform has been designed to be highly scalable and secure, which makes it well-suited for use in financial services, supply chain management, and other industries where data security is of paramount importance. Additionally, the platform's smart contract capabilities make it well-suited for use in decentralized finance (DeFi) applications, such as lending and borrowing platforms.

Qtum is also actively working to expand its ecosystem of developers and partners. For example, it has launched a development incubator program that provides funding and support to startups and individuals working on projects that leverage the Qtum platform. Additionally, it has established a number of research partnerships with leading universities and research institutions, which helps to drive innovation and improve the platform's capabilities.

Overall, Qtum is a powerful and flexible blockchain platform that offers a unique combination of Bitcoin and Ethereum's features, making it well-suited for use in a wide range of use cases. Its focus on enterprise and institutional use cases, along with its partnerships and collaborations, has helped to drive its adoption and growth. As the blockchain space continues to evolve and mature, Qtum is well-positioned to play a key role in shaping the future of decentralized technologies.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

Stay ahead of the competition by accessing high-quality data, advanced tools, and expert research.

Try for Free

Top Assets

AssetPrice24HMcap
Loading...

We use cookies for personalization, social media, and analytics, and share usage data with partners.