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Qtum - the history of one cryptocurrency

2020-01-10

In connection with the development of digital computer technologies, which include services for the provision of online services, electronic payments, online commerce, crowdfunding are gaining popularity, and interest in cryptocurrencies is increasing. There are already over one hundred digital coins that are gradually taking over their niche. So, the Qtum cryptocurrency was released. This is a new kind and way of storing data.

The technical characteristics of the currency include:

Complete security from hackers and crackers.
Familiar and understandable terms and mechanisms of use.
The building is based on the latest technology and is constantly being upgraded.
Convenient synchronization with the application.
Interest in the Qtum site arose several years ago. This is due to its availability and versatility, the ability to be used both by individuals and by entire corporations.

About the Qtum project

Qtum is a hybrid platform that combines the main advantages of the main crypto platforms - Bitcoin (blockchain) and Ethereum (virtual machine). The creation of applications and smart contracts became available here.

If you analyze the data of the CoinMarketCap service, which provides statistical information on crypto rates, you can see that more than 50% of the entire electronic money market is in Bitcoin. In second place is Ethereum. Thus, Cutum has combined the key characteristics of world leaders.

The goal of the project was to break away from the centralized storage of application databases. Now, instead of being stored on one server, applications running on the platform will be in the form of transactions on the blockchain. The project aims to spread technology both in the financial sector and in social networks.

Features of the Qtum cryptocurrency:

Compatibility. Traced in relation to Ethereum smart contracts and Bitcoin gateways. Doesnt disappear even when the developer updates the system.
Mobility. The creator put Bitcoin in the base of UTXO. No problem with payment verification - it is installed by default. The wallet maintains contact with mobile devices (smartphones, tablets);
Decentralized applications (dApps). The technology is used to store the transactional data of each user for further verification. This mechanism contributes to reliable protection against hacking, since the operation cannot be changed without warning all users of the chain;
Smart contracts. They run randomly, but with the condition that all requirements are met. This feature allows you to make the transfer of digital assets more secure.
The exclusivity of the Cutum is an instant reaction to any changes in the relationship of the parties. The developers explain this by the need for all participants to track all actions of each other in order to avoid unnecessary risks.

Qtum Features

The basic principle of operation - Proof-of-Stake (PoS) - assigns an advantage to the user who has the largest amount of currency in his account. The computing power of the equipment does not matter. This makes transactions more accessible. Each of them can be tracked. From the very beginning, the client begins to invest in his future profit, and not in technology.

There is an interesting innovation. Each token from a users wallet is like a lottery ticket. Luck plays an important role here, because even the maximum number of coins does not guarantee their owner that the confirmation of transactions will be entrusted to him. They are randomly distributed among all Qtum holders.

This innovation helps to prevent the most powerful miners from monopolizing the server.

The key nuance is the confidentiality of the owner of the wallet. Anyone can track Qtum transactions, but the identity of the miner remains in the shadows. This is very convenient for those who do not want their assets to go public.

To take part in mining, you need to do the following:

Install wallet.
Send coins to it.
Wait until 500 new blocks are revealed (500 confirmations are required for each transaction).
Be online and track the accrual of profit.
Based on the algorithm of actions, we can conclude that working with Quantum does not bring much difficulty. You just need to be patient.

Cryptocurrency capitalization depends on 2 criteria: the amount of cash flow and the exchange rate.

How Qtum is created

Qtum cryptocurrency is a program of Chinese developers. Its launch falls on March 2017. The project started with an ICO. Tokens ("substitutes for securities") began distribution on March 16.

The project exceeded all expectations, collecting over 5,000 BTС after 10 minutes of sales. In total, 100 million QTUM were accumulated, 51 of which were sold to ICO investors.

The plans were to distribute sales over a 30-day period, but due to the excessive activity of miners, all assets were gone in 5 days. The developers and organizers accounted for 20% (20 million) of coins, the Qtum fund got 20%, and 9% (9 million) were allocated for projects and market expansion.

The team announced that they plan to release another 1% of tokens with a future division of 20% to developers and 80% to the rest. The total capitalization of the company is more than 11 thousand Bitcoins and 70 thousand Ethers.

The main advantage of the company is a strong team of specialists. They have a long track record of working for companies such as Alibaba, Nasdaq, Tencent and Baidu.

The founders of the company are:

Jordan Earls - Co-Founder and Principal Developer. In programming since the age of 13.
Patric Dai is the co-founder and originator of the firm. Ex-employee of Alibaba Corporation.
Neil Mahi - Co-founder. On his shoulders - control over the implementation of all tasks of the community. His experience in programming is over 20 years, in the blockchain field - 4 years.
Investors personalities are equally important. These are Antonio Di Iorio, Chen Weixing and Jamie Gardner.

The creator of the Qtum cryptocurrency put the following principle into working with it: the more money there is in the wallet, the higher the earnings will be. However, the coin has volatility, which can be easily turned into a positive phenomenon, with the help of which you can earn on the rate jumps. Market volatility can be traced here.

Is Qtum infinite?

Qtum crypto is the same means of payment as regular money, which, unlike them, is not subject to inflationary risks. The issue of currency leads to its depreciation, but with a crypt everything is different: its quantity and volume of issue are known in advance.

Another distinctive feature of the crypt is its decentralization. It manifests itself through the absence of unified Quantum control centers. Thus, no one from the outside influences the amount of issued currency and does not disrupt its performance.

The network is not owned by one monopolist, it is divided among all users of the world, who coordinate the dynamics of its development. Moreover, the more expensive a unit of currency is valued, the less it lends itself to influence.

Quantum is an easy way to invest and make money, which can also turn into a means of paying for goods and services. In some countries, airline tickets, gadgets, utility bills, drinks at the bar are all allowed to be paid using cryptocurrency. Others, on the contrary, place a taboo on these operations. The intended purpose of the crypt is similar to banknotes and coins, but it can be adjusted to the norms of the legislation of a particular state.

For example, Japan and the United States provide sufficient freedom for crypt processes. However, if these countries decide to change their position, the rate will go down significantly. The same result will be in case of a decrease in customer demand.

QTUM is developing rapidly, new investors are being attracted, which indicates that the end of the project is not soon. In this regard, the rate will gradually rise. The cryptocurrency combines all the strengths of the coins of previous generations and thus becomes the future of the blockchain.

Strengths of Qtum

In the near future, Quantum Coin will prove itself as a demanded business platform with worldwide coverage. Thanks to blockchain technologies, it will have an equivalent functional ability that will open all the roads in the preparation of any financial documents for all types of goods and services. The company will receive all confirmations about the implementation of transactions by customers.

Many states are focused on maintaining and developing cryptocurrencies. Qtum is promising for investment. Its task is to automate financial processes using complete confidentiality.

At this stage, the creator of the Qtum cryptocurrency is actively working on its implementation in the telecommunications process, social networks and the industry. Negotiations on cooperation with Chinese firms are underway.

The company works taking into account all user comments, takes into account all wishes and comments. The system is maximally adapted to work with mobile devices.

Coins have the following positive characteristics:

available at any time;
are not subject to freezing and seizure;
all transactions are carefully checked for authenticity;
confidentiality allows you to find out about the user no more than the wallet number and limited data on the amount deposited on the account;
reliability and security of all web resources that are not hacked;
as a rule, no compulsory commission payments;
limited emission of currency, which makes it deflationary - the crypt does not lend itself to inflation due to its "modest" issue;
independence - guaranteed by the absence of regulatory authorities and freedom from influence.
Risks include:

difficulty in controlling;
risk of being banned;
instability: all participants in the process have their own interest in creating a successful future for the electronic space. To achieve the goal, they invest funds, the tide of which can cause exchange rate jumps;
impossibility to cancel the payment;
dependence on current demand;
lack of guarantees, risk of loss, insecurity.
Also, at the same time, a plus and a minus is the emergence of difficulties in the process of determining the value of a virtual coin. Their real value cannot be calculated, since there is no conjugation with any currencies and objects.

Qtum in TOP currencies

Qtum is the most popular cryptocurrency on South Korean exchanges. Its largest turnover is tracked here. Unfortunately, due to the strict regulation of crypto transactions in the country, it is not possible to predict the dynamics of the exchange rate for a long period of time. In 2018, the company announced a partnership with one of the largest coffee chain chains - Starbucks. During the same time period, the online wallet Qtum Wallet was launched.

There is an active development of the exchange. All these events both positively and negatively affect the rate of the Qtum cryptocurrency. In different periods of time, the price dropped to $ 40.79, after which it rose to $ 100 per unit and higher.

Despite the great development prospects, Quantum is not as popular as Bitcoin and Ethereum. These are still some of its main competitors. It is not included in the top 5 ranking of the best cryptocurrency exchanges.

However, an hour and a half after the launch of the program, the Qtum crypt was already in 4th place among the fastest investments in the crypto market, selling $ 10,000,000,000 worth of auto.

Cryptocurrency is a safe investment and profitable investment that is gaining more and more popularity in the era of the digital economy and threatens to supplant traditional funds. However, it is very difficult to predict how the crypto price will change. Since the currency is focused on business and economy, the value of the coin directly depends on the popularity of the project among large companies.