QTUM, pronounced Quantum, has been launched quite a while back in 2016. Amongst its selling points is that it has managed to achieve the impossible with Ethereum Smart Contracts with Bitcoin’s stable Blockchain. It does so by using Proof of Stake (the more cryptos an account holder has, the more mining power they have at hand) for verification. This digital currency and open source community project, comes from the shores of Singapore.
QTUM: Quantum Foundations
Co-Founder Patrick Dai, who has roots with Alibaba, has reported to have said, “Qtum is a global project that aims to connect the existing Bitcoin and Ethereum communities with businesses. The Qtum Foundation, the Singapore-based entity driving development and overseeing the project, has brought together talented Bitcoin and Ethereum developers and also gifted individuals from top global companies including Baidu, Alibaba, Tencent and Nasdaq.”
In recent times, when Bitcoin and Ethereum searches on Google have fallen drastically, on the other hand, QTUM searches has increased tenfold. This growth has been possible due to the community that supports and rallies around QTUM on various social media portals. The added appeal is also, it’s all Asian core team. With China and Korea emerging as unsurpassable leaders in the field of cryptocurrency, this team ticks all the perfect check boxes.
This open sourced platform has limited number 100 Million coins. They have added additional advisers from PwC (Pricewaterhouse Cooper, one of the leading Auditing firms in the world.) for regulatory compliance and accounting protocols.
With such a strong team and all protocols in place, let us see what they offer the users.
- Smart Contracts: When a majority of cryptos that are released use Ethereum for creating smart contracts, QTUM too does so but with the support of Bitcoin’s Blockchain. Smart Contracts on QTUM merge Proof of Stake with Proof of Work. This merger causes the proof of stake to power the smart contracts.
- QTUM Mobile Push: As cryptocurrency becomes more and more mainstream, there is still a low use of percentage of Blockchain enabled Mobile decentralized application or DApps. Mobile DApps helps one to enable business oriented cases on to the Blockchain by offering them mobile wallets.
- QTUM IoT: Synchronization of decentralized technology along with smart devices helps create a smarter ecosystem. It also aims to create light clients that are focused on efficiency and security. An underdevelopment sector, we can only wish it creates a groundbreaking platform for its users.
Also Read: Decentralized Market: The Future of Shopping
The Overall QTUM Feel:
With the intent of keeping utter transparency within its community, the core team posts updates at regular intervals on various social media platforms. This community of investors, traders and miners of QTUM cryptocurrency are certain that this platform can fill in the gaps for flawless execution of upcoming Segwit which can only improve the Blockchain.