Qtum

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QTUM is the native cryptocurrency of Qtum, which is a blockchain technology designed to combine the smart contract an element of the Ethereum blockchain with the stable features of a Bitcoin blockchain and use the proof-of-agreement mechanism to verify ownership. Using QTUM, developers can create and deploy their own native decentralized applications (dapps) that receive the security benefits of Bitcoin’s blockchain infrastructure.

QTUM Price

QTUM has a total supply of 107.8 million tokens, although its circulating supply is slightly less than that.

The initial QTUM stock consisted of 100 million tokens that were released during the launch of the token. The supply increases over time due to new blocks adding four new QTUM tokens into circulation as a reward for online validators (people who help verify new transaction data added to the blockchain). The block rewards half every four years and is expected to reach zero by 2045.

The initial supply was distributed as follows:

  • 51% was sold through an initial cash offer (ICO).
  • 8% were sold privately.
  • The team maintained 12% with a four-year key term.
  • The remaining 29% was placed in the hands of the nonprofit Qtum Foundation to be used for advertising, academic research and business development.

QTUM reached its all-time high of $ 100.22 in January 2018 and its all-time low of $ 0.783142 in March 2020.

After the all-time high, the QTUM price started to slide as the broader crypto market retreated, resulting in a price of $ 4.49 by August 2018. It then continued a further slow decline to the all-time low before picking up some upward momentum in late December 2020 .

In May 2021, QTUM again topped $ 25 but returned to $ 7.5 in the following weeks. The price of the token has remained volatile since then as have the prices of other cryptocurrencies.

How Does Qtum Work?

Qtum lends the “unused transaction output”(UTXO) model of Bitcoin – the system for tracking account balances – and a smart contract function of Ethereum. It also uses a virtual machine (called x86) like Ethereum – a computer environment where network participants called nodes can execute smart contracts. The combination of the Bitcoin transaction model and the Ethereum smart contracts is possible due to QTUM Account Abstract layer. This tool basically serves as a bridge between the two technologies.

Additionally, Qtum uses a decentralized management protocol to let community members vote on issues such as block sizes and base. gas quotas without requiring a network hard fork.

Developers can easily deploy Ethereum dapps on Qtum. As a blockchain, Qtum serves businesses and developers and it can work with the systems of external partners.

Key Events and Management

Qtum was founded in 2016 by Chinese blockchain expert Patrick Dai, software developer Neil Mahi of Singapore and Jordan Earls, a web developer from the United States All three were still on board with Qtum in November 2021.

The project secured $ 1 million during a seed fundraising round of January 2017. Its initial funding proposal in March 2017 raised $ 15.6 million, and Qtum added an additional $ 400,000 in funding in December 2018 with a grant.

In 2019, Qtum had a hard fork to Qtum 2.0. The platform has updated its consent mechanism and added new features, such as offline staking, chain-cloud integration and confidential assets.

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