What is Qtum Coin (QTUM)? Should I invest in the QTUM coin?

Qtum is a project that many investors are interested in thanks to its ability to combine the advantages of Bitcoin and Ethereum. But not everyone understands this project and its potential. 

Therefore, in the article below, AZCoin will help you answer the question: what is Qtum Coin (QTUM) and should you invest in this project?

What is Qtum?

Qtum is an open-source blockchain platform designed to combine the best elements of Bitcoin and Ethereum. The Qtum project was created to address the limitations of previous blockchains. 

Built on the Bitcoin and Ethereum blockchain technology, Qtum provides an environment for decentralized applications and smart contracts, with a unique technical structure that improves scalability and security.

How was the Qtum project conceived?

The Qtum project was founded in 2016 by a group of blockchain industry experts and researchers. Qtum goal is to build a blockchain platform that can combine different technologies, creating a comprehensive solution for developers and businesses. Qtum has gone through several important stages of development, including a successful ICO in 2017, raising funds for project development and scaling operations.

How Qtum works?

The QTUM ecosystem works by combining Bitcoin’s UTXO technology with Ethereum’s smart contracts, providing a stable and secure platform. QTUM uses Bitcoin Core and Ethereum Virtual Machine (EVM) to combine the advantages of both blockchains, while applying Proof-of-Stake (PoS) to ensure security and energy efficiency. The platform supports decentralized applications and connects to other ecosystems, suitable for areas such as IoT and mobile devices.

Qtum project development team

The Qtum development team includes individuals with outstanding experience and skills in the blockchain industry, namely:

• Patrick Dai: Co-founder and CEO of Qtum. Patrick has many years of experience in the blockchain and technology field.
• Eric Zhang: Co-founder and head of development at Qtum. Eric is a smart contract and blockchain expert, responsible for leading the technical team in implementing innovative technology solutions.
• Jordan Earls: Co-founder and technical lead of Qtum. Jordan specializes in blockchain programming and software development, playing a key role in developing the platform and applications on Qtum.

Outstanding advantages of Qtum

Qtum has many outstanding advantages that make this project an attractive choice in the blockchain field:

• Bitcoin and Ethereum Integration: Qtum combines the advantages of Bitcoin and Ethereum, providing a flexible, efficient and easily scalable blockchain platform.
• PoS consensus mechanism: Qtum uses the PoS mechanism to secure the network, which saves energy compared to PoW mechanisms and increases transaction speed.
• High scalability: The project is designed to handle millions of transactions per second, making it suitable for large and popular applications.
• Smart contracts and dApps: In addition, they also support smart contracts and decentralized applications, providing a platform for innovation and development in the blockchain community.

Overview of QTUM coin

What is QTUM coin?

QTUM coin is the official cryptocurrency of the Qtum project. It operates on the Qtum blockchain platform and plays an important role in maintaining and developing the project’s ecosystem. QTUM coins can be used to pay transaction fees, participate in smart contracts and perform other functions on the Qtum network.

Specifications of QTUM coin

• Token name: Qtum
• Symbol: QTUM
• Blockchain: Qtum (Quantum)
• Consensus Mechanism: Proof of Stake (PoS)
• Token Standard: QR20, QRC721
• Token Type: Coin
• Circulating Supply: 105,311,690
• Market cap: $233,163,322
• Volume 24h (11/09/2024): $25,161,921

Allocation QTUM coin

The total supply of QTUM coin is 107,822,406 QTUM, distributed as follows:

• Development team: 12%
• Early investors: 8%
• Reserves: 9%
• Public and community investment: 51%
• Development and research funding: 20%

Where to buy a QTUM coin?

You can buy QTUM on the best crypto exchanges like Binance, Bitget, Coinbase, Kraken, Huobi, OKX, Bybit, Bittre, OKX, Poloniex, DigiFinex,….Register an account, deposit funds and make a purchase of QTUM via trading pairs like QTUM/BTC or QTUM/USDT. 

Secure QTUM coin storage wallet

QTUM Core wallet is the official and secure choice for storing Qtum Wallet. Alternatively, you can also use a hardware wallet like the Ledger Nano S or Trust Wallet, QBao, Bitpie, Atomic Wallet to best protect your QTUM coins.

Should I invest in the QTUM coin project?

As can be seen on the chart, QTUM Coin is still growing and developing, despite the current general market downtrend. The current price of QTUM is $2.22 and has increased by 2.1% on September 11, 2024. QTUM isn’t operated by any company or organization but is entirely based on the contributions of a team with deep understanding of cryptocurrencies and Blockchain technology.

This project has received strong support from the “big guy” in the crypto market and has the potential to develop in the future. However, with the advantages and disadvantages of QTUM, the investment decision depends on your personal judgment. If you are interested in QTUM Coin, consider investing with a small amount of capital, because compared to other platform coins, QTUM is still quite obscure.

Conclusion

Above is detailed information about Qtum Coin (QTUM). Hopefully through this article, you have an overview of the potential of this blockchain platform. With its outstanding advantages, Qtum promises to contribute to the development of the blockchain industry in the future.