$ 2.81 right now
Trade name: QTUM
Year of Foundation: 2016
Qtum’s core is a combination of different technologies. To put it simply, it is a hybrid blockchain platform that was developed by Qtum foundation, a firm based in Singapore. It is an open source blockchain project. A form of bitcoin, an Account Abstraction Layer, and Proof-of-stake consensus are combined to create the Qtum core technology, and it is aimed at solving a case involving industrial use.
How Qtum works
The developers aim to create a platform that allows smart contracts and decentralized apps to run on the foundation that is known. At the same time, it offers a great environment for developers.
The Account Abstract layer allows for multiple Virtual Machines, among them the Ethereum Virtual Machine commonly known as EMV. Bitcoin and the EMV allow users to create and complete smart contracts. The PoS protocol is proved to be the best for the business world. Its white paper states that blocks are forged, or minted, contrary to popular mining. There are block rewards as well as transaction fees whereby forgers get part of the interest for what they stake.
Features of Qtum
Qtum aims at solving most issues that are found in the blockchain industry by combining two main features; the Ethereum smart contract functionality and Bitcoin’s security. Many new changes have been announced recently all aimed at increasing crypto adoption by masses.
The development of its dedicated x86 virtual machine (VM) is one of the updates that has seen it stand out. This will see a shift from the EMV upon which it has relied since its launch. It is expected to enable easy deployment of dApps and offer great benefits. The VM is expected to bring the functionality of the platform to a whole new level due to its scalability.
It is yet to launch three new projects termed Qx, QDex, and Qrypto for the overall improvement of the ecosystem.