- Market Cap
- $575.22M (#71)
- 103.51M / 107.82M
Qtum is a cryptocurrency software that is intended to fuse different parts of Bitcoin as well as Ethereum design models, except that it wants to entice application developers. In other words, Qtum aims to offer an alternative to both that can compete with them, while also maintaining their compatibility. Think along th...Read more
Qtum is a cryptocurrency software that is intended to fuse different parts of Bitcoin as well as Ethereum design models, except that it wants to entice application developers. In other words, Qtum aims to offer an alternative to both that can compete with them, while also maintaining their compatibility. Think along the lines of getting the best features of Ethereum, such as its programmable nature, as well as Bitcoin. The project was created in 2016 and released by the Qtum Foundation. In fact, in 2017 they held an initial coin offering or ICO which raised $15 million through selling 51% of the 100 million units of the QTUm cryptocurrency.
The QTUM Token Explained
The QTUM token plays an important role when it comes to the maintenance as well as the operation of the Qtum network and can be used for staking, spending, sending or holding. Its main use is to pay for the fees in the process of the execution of contracts within the Qtum blockchain and by owning and staking QTUM you as a user can vote on potential network upgrades. Each vote is proportional to the number of QTUM cryptocurrencies that you end up staking. The initial supply was 100 million tokens, the protocol allows for the minting of new tokens to 4 QTUM per block. The number of QTUM released in each block is cut in half every four years to keep the total supply finite, just like in the case of Bitcoin.
Features of Qtum
The Qtum team modified the code Bitcoin has to allow the software users to write smart contract applications, similar to the ones you would see on the Ethereum blockchain. This is the best of both worlds type of situation.
The base layer copies Bitcoin’s transaction model and it has an additional layer on top of it that operates in a way similar to the Ethereum Virtual Machine. This is the element that ultimately executes the smart contracts as well as the decentralized programs. Qtum was built on its own virtual machines which allowed developers to write as well as execute programs, throughout the distributed network of computers.
You also have the account abstraction layer (AAL), which is Qtum’s signature technology and is the element that allows it to communicate between its two layers. Then you have mutualized proof-of-stake (MPoS), which keeps the network synced. It is a variation of the proof-of-stake (PoS) consensus method.
Founders of Qtum (QTUM)
Discussing the founders of Qtum, you have Patrick Dai who is the founder and chairman of the Qtum Foundation. The interesting part about him is the fact that he studied computer science at Draper University. He started his career at Alibaba while filling the role of a product manager and then started work on blockchain projects such as Factom, Vechain, Bitse Group as well as Meilink before he started Qtum in 2016. He was also known under the name Steven Dai when he was the CTO of a project you might also know about known as the BitPay project.
$QTUM / USD
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We're monitoring 100 Github repos for the Qtum project.
Commits vs. The Market
- Past 4 weeks: 28 commits vs. an average of 58
- Past 12 weeks: 264 commits vs. an average of 244
- Past year: 2,303 commits vs. an average of 1,512
Top Repos by Code Commits
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