What is Qtum Cryptocurrency?
Qtum (pronounced “Quantum”) is a blockchain technology and cryptocurrency. Qtum is a combination of Bitcoin Core, proof-of-stake, and the Ethereum Virtual Machine (EVM). It allows smart contracts to be executed on a proof-of-stake consensus model as part of an Unspent Transaction Output (UTXO), which is part of the Bitcoin transactional model.
The project is being developed by the Singapore-based Qtum Foundation. Its CEO is Patrick Dai. The top coin holders are believed to hold about 90% of the supply.
Qtum employs proof-of-stake allowing participants to stake coins using one of the official Qtum wallets. Before the coins in the wallet can be staked, they have to be unlocked for staking and reach 500 confirmations. In addition to that, the wallet needs to be connected to the network to stake. When a participant mints a block, he will receive 0.4 QTUM. After 500 blocks, additional 3.6 QTUM will be paid to the wallet in 9 consecutive blocks. Thus the member will receive a total of 4 QTUM. Any amount of Qtum can be staked. Yearly staking ROI depends on the network weight and is around 5-7% as of 26 February 2018.
51% of all Qtum tokens (51 million) have been released to the public during initial coin offering (ICO) round where $15.6 million has been gathered 117 hours, with single token priced at around $0.30. 29% of the remaining tokens will be allocated to community incentives in order to benefit the Qtum ecosystem. Further 20% will be distributed among early development team, founders and early backers.
Qtum Mainnet has been released on 13 September 2017 and currently it has 3000+ nodes distributed across 60+ countries.
Qtum system makes it possible to create and airdrop custom tokens to Qtum holders. Example of such event was e.g. Bodhi (BOT) token airdrop which occurred on February 16th 2018 at the block 93330 of Qtum blockchain with the ratio of 4 BOT/100 Qtum. Custom tokens can be claimed, sent and received using Qtum core wallet.
Qutm platform allows developers to create decentalized applications (DAPPs). Up to date there has been 6+ DAPPs deployed on the Qtum platform.
Official Qtum wallets are currently available on Windows, OSX, Linux PC and Linux ARM platforms such as Raspberry Pi.
What Is Qtum Cryptocurrency Conclusion
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