Qtum is a blockchain network based on open-source proof off stake application. To understand it better: Qtum combines the benefits of Bitcoin and Ethereum to create a decentralized platform. This allows developers to create smart contracts. It is a new advanced technology that promises to change a lot in blockchain’s strongest marketplaces.
The project belongs to the most powerful cryptocurrency marketplace in the world- China. Its priority is to provide the necessary software for building applications and small smart contracts for big blockchains.
The purpose of the Qtum blockchain is to introduce a more efficient way to store the database. This means that information will not be kept on a single server. Qtum wants to store the database as the transactions are stored on the blockchain. This way will prevent Qtum’s platform from damaging attacks.
The first Qtum cryptocurrency token – called ERC-20 – was released on 10th July 2017.
To keep your money safe, you will need to install a specific Qtum wallet. It is available to install on computer or mobile devices. If you are downloading the wallet on your computer, the platform is generating a private key you must keep private. If you are installing the software on your phone, it generates a QR code which can be scanned.
Make sure you respected all these steps. After this, you are ready to make transactions all over the world. Your cryptocurrencies will arrive in your wallet in maximum two minutes.
Smart Contract is an innovation that changes the blockchains’ ecosystem. It is a new step in developing cryptocurrency networks all over the world. These are being well-known as the contracts of the future.
It is intended to the developers. Due to the Smart Contracts, users can transfer their amount of digital assets between two or more accounts, considering the blockchain’s requirements. A developer can build Smart Contracts quickly and without being charged. It’s not a must to learn a new programming language when Qtum brings you all the elements in the rough form.
The Advantages of Qtum blockchain
– The platform works as a decentralized system. They had introduced a strong software to help the databases be stored more efficient;
– The blockchain is safe. Once you make a transaction, the databases will be kept on your personal system. The regulation imposes users to check all actions made on their accounts. There is not possible to attack any of the accounts without notifying every user on the blockchain;
– Due to the fact that Qtum blockchain is still in its early times, you have the opportunity to buy Qtum tokens with less money and after a progressive time to sell them at a higher price.
The Disadvantages of Qtum blockchain
– Unfortunately, the Qtum blockchain is still young on the global marketplace and you can’t find so many merchants who accept Qtum cryptocurrency as a payment. This doesn’t mean that you can’t exchange the Qtum tokens with other users or with other altcoins;
– Because Qtum was launched recently, there aren’t information about its price history. Anyway, from the beginning, its price has grown up.
Do not avoid the Qtum blockchain, because it is still in its young ages. It combined Bitcoins and Ethereum blockchain network to build an innovative technology. Now it’s the great chance to decide if you want to invest or not in Qtum tokens.