What is Qtum?
Qtum is an open-source Blockchain application of Proof of Stake (PoS). Qtum’s core technology incorporates a branch of Bitcoin Core, Account Abstraction Layer that enables multiple virtual machines, including the Ethereum Virtual Machine (EVM) and Proof-of-Stake consensus to address industrial use cases.
Qtum’s goal is to change the way that the application database is stored. Instead of centralized storage on a single server, applications running on the Qtum platform will be stored in databases like on the Blockchain.
The process of formation of the Qtum project
Qtum Foundation is an organization based in Singapore, supporting the application of Qtum Blockchain. The organization is comprised of a wide range of developers, Blockchain and internet experts, including Neil Mahi and Jordan Earls, two veteran figures who have spent years working in the field of Cryptocurrency / Blockchain. The project started in March 2016, leading to a successful crowd sale a year later. More than 10,000 BTC and 72,000 ETH were raised in less than 5 days, making Qtum one of the largest projects in history with $ 15.6 million.
The Qtum project was developed by the Qtum Foundation in Singapore and started launching in March 2016. Qtum is a global project that aims to become a bridge between the BTC and ETH community, Qtum’s development team from around the world, in many different fields such as Blockchain, internet, cryptocurrency, finance, business, .. some members have worked at big companies such as Baidu, Alibaba, Tencent, NASDAQ.
Members of Qtum
Qtum owns a strong workforce, loves the job and is extremely devoted. In particular, two prominent names like:
Anthony Di Iorio – Founder of the Ethereum brand
Chen Weixing – Owner of Didi Chuxing
The principle of operation of the Qtum cryptocurrency
The Qtum-based Smart Contract is similar to the Smart Contracts you see with Ethereum and NEO, provided through Qtum when combined with Bitcoin’s UTXO used by the nodes to match and confirm Validation of transactions from its database.
Qtum brings these ideas together in Bitcoin’s Smart Contract along with other Smart Contracts to create opportunities for real-world blockchain use that many businesses have been patiently waiting for. Combining the modified Bitcoin Core’s infrastructure with a compatible version of the Ethereum Virtual Machine (EVM), Qtum consolidates Bitcoin’s Blockchain with endless possibilities provided by other smart contracts.
Qtum understands that improving the current blockchain technology and focusing primarily on introducing usable options for the business world is critically important to its success. The purpose of Qtum is to unite blockchains and the business world together.
Salient features of Qtum cryptocurrency
Security is good: Qtum is considered by experts to include the advantages of Bitcoin and Ethereum. Therefore, the security of this currency is highly appreciated. From there, this can be a solid basis for investors to pour capital into.
It can be synchronized on most electronic wallets on smartphones today: This is another advantage to mention is the uniformity of this currency. They can synchronize data very accurately and securely on mobile phone wallets for all phone lines and operating systems.
Proceed with building a decentralized network: Qtum cryptocurrency is a clear money improvement, as it can have all the trust of the Bitcoin Blockchain and the potential of being governed by smart contracts. Besides, Qtum cryptocurrency has a pretty catch interface along with some utility features such as High stability in transactions; Interactions with high density and speed.
Qtum’s application adapts well to today’s trading operations: Qtum can adapt well to the key ecosystems of the Blockchain platform. Therefore, it can help the troubles that often occur on mobile platforms.
Qtum is based on Blockchain platform: So it allows you to create each person’s token, manage it yourself and check the terms within a standardized, stable scope.
You can check Qtum price here.