Qtum (QTUM) is a Proof-of-Stake (PoS) smart contract blockchain platform and value transfer protocol. In PoS, node operators are rewarded for validating transactions. Qtum is built on Bitcoin’s UTXO transaction model, with the added functionality of smart contract execution.
What is Qtum?
Qtum is a hybrid Bitcoin and Ethereum blockchain platform. Qtum (pronounced Quantum) was created by adding an account abstraction layer on top of a Bitcoin fork code to allow sidechain integration with blockchain virtual machines like the Ethereum Virtual Machine. This hybrid model combines the best of both worlds, adding Bitcoin’s value-storing capabilities to Ethereum’s smart-contract platform.
It is touted as quantum computing for the masses and developers, a payment system for the business world and an AI-powered, watertight smart contract system that can change the way we do business.
Introduction to the Qtum Blockchain
Qtum (pronounced “Quantum”) is an open-sourced platform that merges Ethereum’s smart contract network with Bitcoin’s value transfer protocol. This Singapore-based blockchain is focused on the mobile dApp (decentralized application) market, and it built a developer ecosystem with strong community support.
Co-founders Jordan Earls, Patrick Dai, and Neil Mahi have deep roots in blockchain and enterprise technology. They’ve worked at companies like Alibaba, Nasdaq, and Baidu, and Qtum resolves many of Ethereum’s scalability issues.
How do I buy cryptocurrency?
While some cryptocurrencies, including bitcoin, are available for purchase with U.S. dollars, others require that you pay with bitcoin or another cryptocurrency.
To buy cryptocurrencies, you’ll need a “wallet,” an online app that can hold your currency. Generally, you create an account on an exchange, and then you can transfer real money to buy cryptocurrencies such as bitcoin or ethereum.
Coinbase is one popular cryptocurrency trading exchange where you can create both a wallet and buy and sell bitcoin and other cryptocurrencies.