Cryptocurrencies are becoming increasingly interesting and the competition between old new cryptocurrencies is growing. A cryptocurrency that will be discussed in the future is the Qtum Coin. This coin is the cryptocurrency of the start-up Qtum founded in 2016.
The currency has been activated to finance the ongoing project Qtum. On this platform, a blockchain is being developed, which in the near future will function like a bridge or an adapter between existing blockchains. The developers describe their blockchain as a platform for the increasingly complex global business world.
What exactly does Qtum want to do in the future?
The startup's super blockchain will be used in the areas of finance, manufacturing, industrial logistics, telecommunications and protection against counterfeiting. The start-up sees itself as a hybrid block chain platform for a wide variety of applications.
The Ether and Bitcoin blockchain should be combined. For this purpose, the developers of Qtum use a so-called account abstraction layer system. Such systems hide account details and make different systems compatible with each other. Different transaction systems are therefore readable for each other. This ingenious idea sounds simple at first, but for your implementation, it requires many clever minds.
Special features of this cryptocurrency
For the financing of their own project, this idea has already taken hold. Qtum Coin already has a market capital of more than 800 million US dollars (as of 08.09.2017). Qtum ranks 14th in cryptocurrency rankings.
In the meantime, a total of USD 72 million is traded daily in cryptocurrencies. The front runners are still very clear the Bitcoin and Ethereum. In a crowdsale, Qtum was able to sell 51,000,000 Qtum Coins in just five days.
Thus, the start-up generated the enormous sums of 77,081,031 ethers and 11,156,766 bitcoins. However, these sums will also be needed to complete the Qtum blockchain. At the moment there is a beta version in the startup network.
Technical implementation of the blockchain
Qtum wants to connect the most important transaction systems with each other. This blockchain thus becomes the bridge between the Broof-of-Stake algorithm PoS, the Unspent Transaction Output UTOX and the Ethereum Virtual Machine EVM. This blockchain is always compatible with Bitcoin gateways and Ethereum contracts.
This compatibility is maintained even if your system is updating. In addition, the company offers so-called master contracts. These are smart contracts that allow interaction between the blockchain and data outside the blockchain. The blockchain is also developed for smartphones. The software will therefore be kept slim accordingly.
The future prospects of the Qtum Coin
Qtum not only creates an interface between the various blockchains, but also a bridge between the real and the digital world. Rangers have already joined Qtum.
These include Roger Ver, one of the main investors of Bitcoin, and Anthony di Iorio, the founder of Ethereum. Also, Xu Star, CEO of OKCoin, and Weixing Chen, the founder of KuaiDi, are among the financially strong investors in Qtum. The promising start-up also works with companies such as Alibaba and NASDAQ. The concept of Qtum seems plausible and forward-looking. Main Net will be launched in September. If you are informed early enough, you can shop cheaply and possibly make big profits.
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