What is Qtum (QTUM)?

Qtum (QTUM)

The Qtum is an open source blockchain and cryptocurrency developed by QTUM Foundation based out of Singapore. It is an open-source value transfer protocol and decentralized application platform for businesses that executes smart contracts using a proof-of-consensus mechanism. The Qtum blockchain will allow lite wallets running on mobile phone devices to interact with DApps and smart contracts. It will support the simple payment verification (SPV) protocol so that transactions can be signed using a mobile device and Internet of Things devices can also be operated and integrated using smart contracts.

In simple terms, QTUM is the hybrid of Bitcoin and Ethereum. It takes the best parts of both the blockchains and combines it in the real world to give us the best of both Bitcoin and Ethereum.QTUM developers took Bitcoin core’s code and changed its consensus mechanism from POW to POS and then implemented Ethereum’s EVM (aka Ethereum Virtual Machine) over the modified Bitcoin code base.




Qtum (QTUM)

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