What Is QTUM Blockchain
Qtum is a decentralized and open-source smart contracts platform and value transfer protocol. Qtum uses proof-of-stake consensus, meaning node operators are rewarded for validating transactions. A DGP governed blockchain where community participants can vote to change certain network parameters.
Qtum provides interoperability between Bitcoin blockchain and Ethereum Virtual Machine. Qtum supports C++, Rust, Python, Go, and Lua programming languages to write smart contracts.
Qtum project is available on Github (https://github.com/qtumproject). There are four major repositories – qtum, qtumjs, qtum-electrum, and solar.
Qtum is a decentralized blockchain project built on Bitcoin's UTXO model, with support for Ethereum Virtual Machine based smart contracts, and secured by a proof of stake consensus model. The qtum repo is the Qtum Core Wallet written in C++. This is the main network of blockchain where where the tokens hold value and should be guarded very carefully.
The major features of the Qtum network include:
- Compatibility with the Ethereum Virtual Machine, which allows for compatibility with most existing Solidity based smart contracts. No special solidity compiler is required to deploy your smart contract to Qtum.
- A Proof of Stake consensus system which is optimized for Qtum's contract model. Any user can stake and help to secure the network. There is no voting, master nodes, or minimum amount required. There have been transactions as small as 2 Qtum that have created blocks in the past.
- The Decentralized Governance Protocol is completely implemented and functional, which allows certain network parameters to be modified without a fork or other network disruption. This currently controls parameters like block size, gas prices, etc.
- Uses the UTXO transaction model and is compatible with Bitcoin, allowing for existing tooling and workflows to be used with Qtum. This allows for the infamous SPV protocol to be used which is ideal for light wallets on mobile phones and IoT devices.
Qtum Coin
Qtum is a Chinese company. Qtum raised $10 million in ICO in early 2017 for 51 million coins in public sale. Rest of the 49 million coins are allocated between team and the development purposes.
Currently, Qtum is ranked #30 on CMC with a market cap is $182 million. Qtum market cap had hit over $7.6 billion in Jan 2018.
