Qtum (QTUM)

Last updated 18/06/2021

What is Qtum (QTUM)?

Qtum is an open sourced public blockchain platform, utilising the security of UTXO (Unspent Transaction Output) while enabling multiple virtual machines including the EVM (Ethereum Virtual Machine) and the x86 VM. Qtum is a PoS (Proof of Stake) network and utilises a Decentralized Governance Protocol (DGP) allowing specific blockchain settings to be modified through the use of smart contracts. For instance, the block size of Qtum can be increased without the need of a hard fork. A hard fork is a radical change to a network's protocol that makes previously invalid blocks and transactions valid, or vice-versa. A hard fork requires all nodes or users to upgrade to the latest version of the protocol, however with the use of smart contracts, this can be avoided.

Qtum is a smart contract platform that provides a safe, standardized and stable development ecosystem for smart contracts, enabling business-friendly smart contract coding and implementation. Qtum is also a decentralized application platform compatible with existing blockchain infrastructure and is modularized so that new technology can always be added. Qtum has a very large PoS peer to peer network, with full nodes where it is only exceeded by the Ethereum and Bitcoin networks.

Decentralised Applications (DApps) are compatible with Qtum’s blockchain and as it is modularized, new technology can be added at anytime. Multiple DApps have already been implemented on the Qtum blockchain with many prototypes and concepts on the way. Some of the live DApps include:

ENERGO – A decentralised ecosystem built for a future DAE (Decentralized Autonomous Energy Community). An example of Energo’s application would be where someone comes to charge their electric car where their car has a digital ID and digital wallet on the blockchain to automatically pay for the electricity used.
QBAO – A Qtum based decentralised social network with an incorporated wallet, exchange, DApp store and much more. Qbao aims to improve the experience for the new generation of blockchain technology.

Some of the prototype DApps include:

IAME – A decentralized identification framework which allows users to identify each other without disclosing any non-essential confidential information. IAME hopes to further secure the blockchain network with more transparency and trust while preventing illicit activities.
BODHI – Bodhi is built on the Qtum blockchain as a next generation decentralized prediction market. Their mission is to build an autonomous, credible and scalable prediction market that is globally used to improve the decision making process.

Team

Qtum is a global project that aims to be the bridge between the Bitcoin and Ethereum communities, the real world and blockchain world. Therefore, the Qtum team comes from both the Bitcoin and Ethereum communities as well traditional companies like Baidu, Alibaba, Tencent, NASDAQ and more.

The Qtum project is backed by some of the most prominent blockchain contributors, traditional Venture Capitalists, and executives from some of China’s most innovative technology companies. These individuals include Roger Ver, who is considered one of the integral proponents for promoting Bitcoin. In 2011, Ver's company, Momeroydealers.com became the first platform to accept the digital currency as payment. OkCoin CEO Xu Star is another financial backer at Qtum, alongside Ethereum Co-Founder and CEO of Central Inc. Jaxx liberty, Anthony Di Lorio. The full Qtum team can be found on their official website here.

Roadmap

The Qtum team are consistently developing the platform and its architecture, with their project roadmap outlined below:

Sourced from Qtum Official Website: https://qtum.org/en/post/qtum-2021-roadmap-explanation

Where to Store Qtum (QTUM)

There are several crypto wallets available supporting Qtum, that meet the needs of different users. Qtum has its own range of wallets available; the Qtum Electrum Wallet, the Qtum Core Wallet and the Qtum Web Wallet. These wallets only support and store Qtum, while alternative options to keep your coins secure can include other multicurrency wallets, including Ledger, Exodus and Atomic Wallet.

Ledger is a great wallet provider for Qtum as Ledger is known as a trusted and secure cold storage device. More information about setting up and using a Ledger wallet can be found on our Wallet Guides page.

Where to Buy and Sell Qtum (QTUM)

You can Buy & Sell Qtum (QTUM) here at BC Bitcoin.

You can Buy QTUM by heading over to the Buy Coins page of our website. QTUM is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying QTUM has never been easier, simply place your order and provide your wallet address. Once your payment arrives, QTUM will be sent directly to your wallet.

If you choose to Sell Qtum (QTUM), you can send us the coins and receive a payment to your bank account. Details and a live valuation can be found on the Sell Coins page.

Qtum (QTUM) Resources

Website: https://qtum.org/en

Block Explorer: https://qtum.info/

Twitter: https://twitter.com/qtum

GitHub: https://github.com/qtumproject

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.