What is Qtum (QTUM)?
Future of QTUM Cryptocurrency and know how to buy QTUM

#1 - What is Qtum (QTUM)?

Qtum (QTUM): The Basics

  1. Qtum —pronounced “Quantum”— is an open-source, decentralized Blockchain platform and Value Transfer Protocol. It can execute smart contracts on multiple virtual machines and run environments with Proof-of-Stake consensus.
  2. Qtum is a hybrid of both Bitcoin and Ethereum, which combines Ethereum smart contracts with the stable blockchain of Bitcoin. It is build from Bitcoin’s core code, and modified to work with Ethereum Virtual Machine (EVM). All this while replacing Proof-of Work with Proof-of-Stake as consensus mechanism.
  3. QTUM is official cryptocurrency of Qtum Blockchain platform. QTUM serves its function as a fuel to make transaction on Qtum network. A total of 100 million tokens were issued during ICO (Initial Coin Offering). The platform allows QTUM mining of its token on Smart Stake Protocol which is based on Proof-of-Stake protocol, PoS 3.0.

Development of Qtum (QTUM)

  1. Qtum was developed by the Qtum Blockchain Foundation (a non-profit organization). The foundation was established during November 2016 by Patrick Dai, Patrick Dai, and Jordan Earls. Patrick, a Draper University graduate, had previously worked in Alibaba.  
  2. During its Initial Coin Offering in March 2017 which was aimed to last 30 days, Qtum raised $15.6 million within a little less than 5 days in exchange for 51 million QTUM tokens, effectively making it the fourth largest Initial Coin Offering of all time. For token allocation refer to chart below:

Current and planned QTUM token allocation chart. 

 

#2 - What are the benefits of Qtum (QTUM)?

The Technology

  1. Qtum is a hybrid platform, altered to advantage of both Bitcoin’s Unspent Transaction Output (UTXO) model and Ethereum Virtual Machine. It adds additional layers to Bitcoin blockchain to make it compatible with Ethereum Virtual Machine, and introduces consensus mechanism Proof-of-take.
  2. Qtum is committed to bring blockchain technology to real world like finance, DNS, Internet of Things, gaming etc. by creating a global open-source community with the cooperation of other blockchain communities. It is bridging the real world to blockchain world by utilizing Oracle and Data feeds.   
  3. Decentralization as one of its core characteristics, Qtum facilitates dApps development by developing diversified module for different systems and users. with Mobile Go strategy QTUM aspires to bring blockchain technology to common internet users by developing lite dApps.

Use Cases

  1. Qtum claims to be the blockchain made ready for business. It employs business centered consensus mechanisms to facilitate business development. Qtum provide a robust way (like Qtum’s hybrid smart contracts) to accept blockchain technology without the complexity connected to Bitcoin and Ethereum. It supports a variety of industries which involve but not limited to finance, healthcare, social media, digital assets, logistics, etc.  
  2. Qtum’s ability to create lightweight decentralized apps (dApps) and Mobile Go strategy allow ordinary internet users to engage with blockchain technology. With the release of projects like Spring Email and Qloha, Qtum aims to use email address as digital wallets.

 

#3 How to buy & store Qtum (QTUM)?

How to buy QTUM?

Originally an ERC20 token, a total of 100 million ERC20 QTUM tokens were issued. After the Mainnet launch in September 2017 QTUM holders were able to swap their ERC20 tokens win Qtum ignition tokens. Qtum blocks reward miners with new QTUM tokens, allowing total supply to increase constantly. This results in current total supply of QTUM to more that 100 millions.

  1. QTUM token is currently available to trade on more than 25 exchanges globally such as Allcoin, BCEX, Huobi, Bithumb, OKEx, Liqui, a
    nd many others. Majority of exchanges pair QTUM with BTC, ETH, and USDT.
  2. Users may become overwhelmed when comparing rates and trying find best option available to them. Consider CoinSwitch, an online cryptocurrency trading platform which allows its user to trade cryptocurrencies without any hassles. CoinSwitch offers users with the option to compare and trade across all exchanges at a single place, making cryptocurrency trading as easy as possible.

How to Store QTUM?

  1. Qtum offers its own wallet called “Qtum Core” to store QTUM tokens. Users can take advantage of officially supported QTUM Wallet which is available on multiple platforms such as Web, Desktop PCs (iOS and Windows), Mobile (Android and Iphone).
  2. Apart from official Qtum wallet, QTUM can also be stored on hardware wallets like Ledger Nanos, which is also officially recommended by Qtum.

 

#4 - What is the future of Qtum?

Trend so far

  1. As of June 2018, QTUM holds the 20th position globally based on market capitalisation, with a value of of $704 million. The circulating supply is 88,664,516 QTUM out of the total supply of 100,664,516 QTUM.
  2. QTUM started trading with the initial value of $6.42 and reached its highest of $106.88 during January 2018. As of June 2018 its price has declined to as low as $8.95.

Complete Analysis of QTUM | Live QTUM (QTUM) Price Charts & Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jun 01, 2018

13.36

14.50

13.29

14.47

152,020,000

1,184,140,000

Apr 01, 2018

14.26

14.40

12.79

13.46

91,857,800

1,261,700,000

Jan 01, 2018

62.31

64.08

59.87

60.88

708,818,000

4,597,210,000

Oct 01, 2017

11.59

12.61

11.58

12.34

162,762,000

683,566,000

Aug 01, 2017

6.12

6.67

5.74

6.49

20,864,300

361,165,000

Jun 01, 2017

4.86

8.37

4.78

7.79

28,193,200

-

May 24, 2017

6.42

6.76

5.68

6.19

11,221,600

-

Support & Regulation

  1. Qtum has been backed by many successful investors such as Roger Ver, Anthony Di Iorio (Founder of Ethereum), Weixing Chen (Founder of KuaiDi), Xu Star (CEO at OKCoin), and many others.
  2. In January 2018 Qtum Foundation entered a three way partnership with China’s 360 Blockchain Research Center and BTN Foundation, with the aim to collaborate in developing decentralized ledger technologies, blockchain security, decentralized computing and storage technology, etc.

 

#5 - How is currency different from other cryptocurrencies?

  1. Qtum is built by combining two major cryptocurrencies: Bitcoin and Ethereum. It takes best elements from both cryptocurrencies to create its on hybrid blockchain solution.
  2. Another key area where Qtum differs from Bitcoin and Ethereum in the use of consensus mechanism. While Bitcoin and Ethereum use PoW (Proof-of-Work), Qtum has opted PoS (Proof-of-Stake).
  3. QTUM is not just a cryptocurrency, It is created to facilitate the use of blockchain technology to businesses and common internet users. Qtum has allowed the creation of Lightweight dApps in many programming languages.

 

#6 - Should you invest in Qtum?

  1. Since its launch, Qtum has performed reasonably well and has been backed by many renowned names in the industry - like Roger Ver, Anthony Di Iorio and others.
  2. Its has also partnered with many organisations to provide their blockchain solutions such as Philippines based Energo Foundation Pte Ltd, Bingo (a blockchain entertainment platform for developers, gamers, and publishers), Mithril (A social media platform based on blockchain) to name a few.
  3. Though the price of QTUM has declined to as low as $8.95, some remain hopeful. Ethereum’s co-founder has gone as far as to say:
The biggest stake for me is in Qtum and VeChain right now, the two Chinese projects. There’s much more opportunity in newer ones if you can identify them
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