Qtum – Combination Of Ethereum And Bitcoin
Ethereum and Bitcoin are the two biggest cryptocurrencies in the world. Both currencies achieved a great success; however, they are using different technologies and solutions to reach their goals. So, what would become from taking the best parts from each? Qtum tries to answer that question.
The cryptocurrency had a great value in the market almost a year ago. However, after reaching $100 in its prime, now its price is as low as $2. How did that happen?
Qtum (read Quantum) is the whole platform. It has its own blockchain and cryptocurrency.
The coin combines Bitcoin’s transaction model and Ethereum’s developed system. From Bitcoin, it takes the proof-of-work, and from Ethereum it takes the smart contract technology.
One of the biggest challenges for Bitcoin’s network is lack of smart contracts. Ethereum does not require from users to provide asset ownership. Qtum wanted to resolve these problems.
Simply put, Qtum is a hybrid of the two most popular cryptocurrencies.
Background: an ICO and mining
The coin is based on Proof-of-stake. Thanks to that, the mining is simple. Each transaction requires 500 miners’ confirmation. Miners get 4 tokens reward for every mined block.
On March 16th, 2017, Qtum started its Initial Coin Offering (ICO). In less than 24 hours, it gathered $10 million from the token sale. The company offered 100 million of its tokens, worth of $15.6 million.
The company had a plan to distribute the coins. 51 million of them went to the public sale. Developers, sponsors, and founder received 20 million QTUM. 29 million of the tokens were reserved to fund development of Qtum-related projects.
The developers still believe that Qtum can be something, what Bitcoin and Ethereum are missing. The niche is there, Qtum hasn’t been able to fill the void yet. The ICO was very successful and the cryptocurrency still has huge potential. If the developers will capitalize on it, is yet to be determined.
Price and availability
Qtum hasn’t conquered the cryptocurrency market so far. At the start of its activity, it cost over $6.
Qtum reached its peak in January 2018. For a brief time, it was worth over $100. On January 7th, it reached $103.45. The boom lasted one month. After that, it started to decline. Right now, it is only on the $2 level.
QTUM – INFORMATION
- website: https://qtum.org/en
- Reddit: https://www.reddit.com/r/Qtum/
- Facebook: https://www.facebook.com/QtumOfficial/
- Twitter: https://twitter.com/qtumofficial
- Telegram: https://t.me/joinchat/D5oBaw29NeOdpw6qqqf2lw
You can find Qtum on these exchange platforms:
And many others.
- The Qtum is a decentralized cryptocurrency
- The Qtum is a hybrid of Bitcoin and Ethereum
- UTXO-based smart contract system with a proof-of-stake (PoS)
- The official ticker symbol for Qtum token: QTUM
- Maximum token supply: –
- Circulating supply: 89 016 124 QTUM
- Number of blocks: 272 500
- Block reward: 4 QTUM
- Block time: 120 sec
- First block: 09-06-2017
Image from shutterstock.com
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