Since its inception, the China-based Qtum Cryptocurrency has gone a long way in terms of creating an effective, quick and transparent platform for users to develop their decentralized apps. This hybrid of Ethereum and bitcoin is currently riding at $26 that has a variety of partnerships in line that are expected to hit its price skywards.
Best of both the (Bitcoin & Ethereum) worlds
Up until recently, Qtum was not even a blip on an investor’s radar. A coin that was almost invisible before the events of December 2017, managed to rise about 200 percent since it came up as an ICO.
Slowly but gradually, Qtum is becoming a big coin and gaining the attention of investors while achieving success on its way.
Qtum is basically an open-source platform that focuses on building decentralized applications on the blockchain. It combines the UTXO of bitcoin and smart contract system of Ethereum to offer an all-inclusive protocol package.The unique feature of this digital currency is that Qtum is the first platform to support the Proof-of-Stake algorithm. This, in turn, means reduced load on the mining network and cost per transaction as well.
Qtum Cryptocurrency- China-based Digital Coin with high Potential
Qtum is also known as Quantum and is a China-based coin. Just like Ethereum, Qtum can execute the smart contracts and works similarly to Ethereum as well that allows users to develop, distribute and operate the business apps faster.
Founded in 2016, Qtum is led by CEO Patrick Dai and ranks among the top 25 Cryptocurrencies right now.
The Bitcoin and Ethereum hybrid started with somewhere around $6. In mid-December, last year, Qtum rose to its all-time high at $70 that has all the investors riveting on this coin. However, the coin did see some loss in value this year but a downward trend has been the overall scenario of the cryptocurrency market. Currently, it is riding on $26 with a market cap of $1,923,783,996 USD.
An Interesting & Innovative Portfolio
The most interesting development right now is the use of bitcoin’s UTXO by Qtum that will allow the users to execute the smart contracts from the light wallets right on their mobile devices. It is certainly on its way to disrupt not only the blockchain but also the internet traffic.
A noteworthy partnership of Qtum has been with Baofeng, a popular Chinese video portal that helped it become much popular and bigger.
Qtum also has a lot of interesting projects pipelined that demands your attention. Recently, in collaboration with Space Chain, the first ever blockchain satellite has been successfully launched. Through MediBloc (healthcare industry), CFun, BitClave (multimedia industry) and Energo (energy industry), Qtrum is soon going to have a presence in almost every prominent sector.
The development team of Qtum is continuously working on its platform to make it suitable for widespread adoption. Being made of the best parts of both bitcoin and Ethereum, Qtum is a digital coin that needs to be on your crypto list this year.
What are your views on Qtum cryptocurrency? Do you think it is going to have a bright future with some good hikes in its prices? Let us know your thoughts in our comment section below!
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I am an entrepreneur and a writer with a bachelors degree in Computer Science. I manage the blockchain technology and crypto coverages at Coingape. follow me on Twitter at @arya_achal or reach out to me at achal[at]coingape.com.