Qtum- Another Cryptocurrency To Watch Out | What is Qtum | Qtum Explained

Qtum, the blockchain network that is focusing on businesses to use it, is an open-source Proof of Stake (PoS) blockchain application platform. Qtum combines the best of Bitcoin and Ethereum by allowing for Decentralized Applications and Smart Contracts to be executed as part of a UTXO transaction (Unspent Transaction Output).

Qtum aims to compete against Neo, Lisk and Ethereum to become a platform for other projects to run on a blockchain network. The Qtum Foundation, which consists of several experienced blockchain developers, is a Singapore based entity that promotes adoption of the Qtum Blockchain.

There’s a lot for Qtum to be excited about – Proof of Stake means that Qtum’s sustainable and less taxing on the environment since it does not require for miners to compete against each other to secure the network as in the case of Proof Of Work.

Ethereum applications can be ported to Quantum’s Blockchain. This is a huge advantage for Qtum since it puts Qtum years ahead of competitors like NEO where developers would have to start from scratch.

Qtum already has a lot going for it in terms of partnerships. Qtum is already available on the world’s most popular exchanges like Bittrex and Binance and has recently been listed on CoinOne, one of Korea’s biggest exchange.

Tron, a blockchain based entertain ment platform, which recently had it’s ICO has decided to support Qtum alongside Bitcoin and Ethereum which is great news for Qtum which is due to launch its mainnet on 13th September, 2017.

Qtum Project development began in March 2016, and led to its crowdsale a year later in which over 10,000 BTC and 72,000 ETH were raised in less than 5 days, making it one of the largest crowdfunded projects in history, at $15.6 million dollars.

Qtum’s price has hovered in the $7-10 range from then until late August when it peaked to $18.5. At the time of publishing this article, Qtum price $10.92 with a market cap of $644,244,600. Qtum is ranked on 15 posotion in terms of market capitalization. The current price levels looks very attractive considering the fact that Qtum is due to launch its mainnet on September 13 and that since it’s an application platform, it has the potential to challenge Lisk, Neo and even Ethereum in the long term.

Also Read: OmiseGo(OMG) Market Cap Crosses $1 Billion, Becomes First Ethereum Unicorn Cryptocurrency

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