Qtum (QTUM) is Qtum platform cryptocurrency which serves as a tool for the execution of calculations in this network. Qtum is a decentralized open source platform for developing and running mass-use applications.
The project was launched in March 2016 by the Singapore Quantum Foundation. Patrick Dye is Project leader. The project raised funds in the amount one million dollars.
Qtum platform features
The Qtum system combines the modified structure of the Bitcoin Core client application with a compatible version of the Ethereum virtual machine (EVM). So Qtum combines the reliability of the Bitcoin blockchain and the opportunities offered by intelligent contracts.
Qtum serves as a tool for creating decentralized applications which are suitable for business tasks. Applications have PoS protocol support and are compatible with main blockchains.
Cryptocurrency technology provides smart contracts. In collaboration with academic partners Qtum standardizes the workflow for creating an intelligent contract which includes translating human-readable contract text into a machine-understandable contract as well as increasing resiliency by providing proven contract templates suitable for many industries. The creation of smart contracts is possible both with a computer and mobile devices through a pre-installed lite wallet.
Payment verification in Qtum is based on the payment verification protocol (SPV), similar to Bitcoin.
Continuing the Bitcoin basis inheritance Qtum is based on the Script language.
Qtum is compatible with Ethereum contracts and Bitcoin gateways.
Qtum features
1. Flexibility and reliability. Combines the Bitcoin Core flowchart infrastructure with Ethereum smart contract capabilities.
2. Mobility. It has mobile applications for online operations.
3. Multiplatform.
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