Qtum is a cryptocurrency which was developed as a hybrid bridge between the functionalities that Bitcoin and Ethereum offers, a value transfer protocol which can also support dapps and smart contracts. It is being developed by the Qtum Foundation, based in Singapore.
History of Qtum
In March 2017, Qtum launched a crowdfunding campaign to seek funds for the development to their new blockchain-based platform. The crowdshare was scheduled to last 30 days, or until all tokens were sold.
It was the 18th highest crowdfunded project of all time.
In a frenzy of the new tokens Qtum sold over 10 million dollars’ worth of its tokens after only 90 minutes, eventually raising a total value of $15.7 million before stopping the campaign early after only 5 days.
According to the Qtum’s whitepaper, 51% of the coins were distributed to the public, sold via the crowdfunding campaign.
That left 49%, 29% of the coins would be allocated as community incentives, and the remaining 20% would be distributed to the early backers and development team.
Blockchain for Business
Qtum’s approach enables multiple virtual machines or run environments to operate on top of the blockchain.
Proof of Stake Mining
Qtum is the world’s first Proof-of-Stake (PoS) smart contracts platform, mobile development software.
Qtum’s co-founders are:
- Jordan Earls – Co-founder and lead developer. Earls is a well-known member of the cryptocurrency community and has been developing software since he was 13.
- Patrick Dai – Co-founder. Dai did his undergraduate studies at Draper University and earned a Masters degree from the Chinese Academy of Sciences. He was previously employed by Alibaba.
- Neil Mahi – Co-founder. Mahi has over 20 years’ experience developing software and has four years’ experience in the blockchain space.
Qtum has also has an impressive list of angel investors such as Anthony Di Iorio (founder of Ethereum and CEO of JaxxWallet), Chen Weixing (billionaire and founder of Kuaidi), and Jeremy Gardner (co-founder of Augur).
A full list can be found on their About page.
Qtum also provides Developers Guide to the Qtum GitHub.
Here is how the Qtum developers describe Qtum:
The Qtum developers describe Qtum as “a decentralized blockchain project built on Bitcoin’s UTXO model, with support for Ethereum Virtual Machine based smart contracts, and secured by a proof-of-stake consensus model. It achieves this through the revolutionary Account Abstraction Layer which allows the EVM to communicate with Qtum’s Bitcoin-like UTXO blockchain.”
To get acquainted with Qtum, there are two starter guides which will be very useful to start developing and working on Qtum projects. The user guide serves as a good launch point for those just getting acquainted with Qtum.
Qtum as a developer
The second guide is a developer guide, which should be your go-to reference when beginning to develop in a Qtum environment.
If you are interested in Buying, Selling or Trading QTUM, open your wallet here:
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