QTUM. About the project and its investment prospects
Most of the “descendants” of Bitcoin called altcoins provide users the ability to transfer cryptocurrencies plus some additional functionality. The QTUM project differs from a lot of blockchain projects as it takes the use of the blockchain technology to a new level. What the distinctive features of QTUM are and why this project, and hence the currency, causes confidence in the crypto community, read below.
About the project
The Qtum Foundation organized by developer Patrick Day is based in Singapore. A few years ago, QTUM developers decided to create an open source platform that would enable to create applications and smart contracts using blockchain technologies. That is, the main idea was to move from a centralized approach to data storage to a decentralized one.
How does it work?
To create the platform, QTUM team decided to combine reliability of Bitcoin transactions and Ethereum functionality. It is based on the UTXO model (Unspent Transaction Outputs, a set of unused transaction outputs), which is typical for Bitcoin. The point is that the user needs to prove that he owns an asset before he can spend it. QTUM developers “wrapped” this model in the Ethereum layer, which is essentially a virtual machine for smart contracts. Thus, from Bitcoin we get reliable transactions protected by the Proof-of-Work consensus, and Ethereum adds smart contract technology to this. Besides the fact that QTUM is a “hybrid” that combines the best of two cryptogiants, it also has advanced smart contracts called master contracts. The master contract responds to any changes in the relationship of the parties that have concluded it by publishing these changes to the blockchain. This is more flexible contract system, which has a positive effect on business development.
Why invest in QTUM?
Already at the development stage, the Qtum Foundation received $1,000,000 of venture capital investments for the idea that they had proposed. Later, in the spring of 2017, $15,600,000 were raised as part of the ICO. After 2 years, QTUM developers continue to share technical updates with the community, and also they published a project roadmap.
In addition, the project has an economic component, which makes the QTUM token interesting for investors and traders, even with a general decline in the cryptocurrency market. Now the price of the currency is not very high, but after the team implements the ideas presented in the roadmap, it will inevitably rush up. Before making a decision on the purchase of QTUM, we recommend to conduct your own research, as investing in cryptocurrency involves certain risks. And for those ones who will choose QTUM to replenish their portfolio, the Quickex exchanger offers a favorable exchange rate with a commission of only 0.3%. Subscribe to our blog and invest money wisely.