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.
- Price $2.59
- Market Cap