Qtum

Qtum Review

In 2017, a hybrid cryptocurrency and blockchain technology was created called Qtum. Qtum is as a result of the combination of Ethereum, Proof-of-Stake, and Bitcoin core, and it allows for the execution of smart contracts on a Proof-of-Stake model. Qtum is much like a portal to the blockchain which grants access to companies with intentions to create decentralized applications.

Qtum creates tools and methods for the standardization of work related to the development of smart contracts. These tools will be able to specify conditions, elements, and terms while simultaneously preventing errors, by verifying agreements.

Businesses in traditional sectors that might not have cutting edge technical knowledge can make use of   blockchain technology through this platform. Qtum makes it possible for businesses to create their own tokens, and then build automation. A supply chain management process for example.

During the initial coin offering (ICO) 51 million Qtum tokens (51%) were released to the public, and 117 hours after the ICO $15.6 million was raised with the price of a single token at $0.30. The remaining tokens were allocated thus: 29% to community incentives and the remaining 20% to founders, early developers, and backers.

Pros

  • Creation of smart contracts that interact with data that is trusted.
  • Qtum can use current and future Bitcoin enhancement protocols for the extension of the Qtum protocol. Basically utilizing Bitcoin’s community for expansion which means their own dev team can build other features. In essence they get two dev teams.
  • There is compatibility between the Qtum system and main blockchain ecosystems, while also ensuring that IoT appliances and mobile devices get native support.
  • With Qtum, businesses can automate supply chain management, get involved in agreements that are self-executing, and create your own tokens
  • Qtum is among the top when it comes to having toolkits needed for creating applications that are trusted and decentralized, and also able to function in the real world, with business-oriented functionalities
  • Qtum is both Bitcoin and Ethereum compatible. The Unspent Transaction Outрut (UTXO) feature embedded in it lets it store transactions, which is responsible for the traceability of coins. Also, there is a layer in Qtum which converts the UTXO data into Ethereum Virtual Machine-readable form, thereby enabling it to communicate with both Ethereum based and Bitcoin-based applications.
  • Availability of master contracts which will be able to execute commands based on on-chain and off-chain factors. With Qtum, verified data entities can provide off-chain data which master contracts will have access to.
  • With the Proof-of-Stake model and integrated semi-trusted nodes, business owners will be at ease knowing that a powerful mining system or an attack will not negatively affect the network.

Cons

  • UTXO model has flaws, and smart contracts built on the model will experience limitations, the Ethereum platform may not be able to use the UTXO model.

OVERALL COIN SCORE:

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Market Cap & Charts
  • qtum
  • Qtum
    (QTUM)
  • Price
    $2.07
  • Market Cap
    $168,094,535.32