Qtum, the blockchain network focused on businesses to leverage, is an open source blockchain application platform for Proof of Stake (PoS). Qtum combines the best of Bitcoin and Ethereum by allowing decentralized applications and smart contracts to run as part of a UTXO transaction (transaction output not issued).
Qtum aims to compete against Neo, Lisk and Ethereum to become a platform for other projects to be run on a blockchain network. The Qtum Foundation, made up of several experienced blockchain developers, is a Singapore-based company promoting the adoption of the Qtum blockchain.
Qtum can be very happy about the following – Proof of use means that Qtum is sustainable and has less impact on the environment as it does not require 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 big advantage for Qtum as it puts Qtum years ahead of its competitors NEO where developers would have to start from scratch.
When it comes to partnerships, Qtum already has a lot going for it. Qtum is already available on the world’s most popular exchanges such as Bittrex and Binance and was recently listed on CoinOne, one of the largest exchanges in Korea.
Tron, a blockchain-based entertainment platform whose ICO was recently launched, has decided to support Qtum alongside Bitcoin and Ethereum. This is great news for Qtum, which is slated to launch its mainnet on September 13, 2017.
The development of the Qtum project began in March 2016 and led to its crowdsale a year later, which raised over 10,000 BTC and 72,000 ETH in less than 5 days. This makes it one of the largest crowdfunding projects in history at $ 15.6 million.
The price of Qtum hovered in the $ 7-10 range from then to late August, when it peaked at $ 18.5. At the time of this writing, the Qtum price was $ 10.92 with a market cap of $ 644,244,600. Qtum is ranked 15th in terms of market capitalization. The current price level looks very attractive considering that Qtum will launch its mainnet on September 13th and since it is an application platform that has the potential to challenge Lisk, Neo and even Ethereum in the long term.
Also read: OmiseGo’s market capitalization (OMG) surpasses $ 1 billion and becomes Ethereum Unicorn’s first cryptocurrency
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