Charts price for QTUM (QTUM)

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Description of QTUM (QTUM)

QTUM Origin

Release Date: March, 2017.

QTUM was founded by a Singapore based company known as The QTUM Foundation Company, whose founder is Patrick Da. Additionally, Anthony Di Lorio, one of Ethereums founders is an early investor in QTUM.

QTUM Functionality

QTUM bridges a gap between Ethereum based smart contracts and the Bitcoin Blockchain. A novel factor of QTUM is that it employs a proof-of-stake consensus system. The main goal of the project is to improve the interoperability of decentralized smart contract applications in terms of business and institutional use cases. It’s important to note that QTUM’s foundation is built based off of the Bitcoin Blockchain. It is through the addition of extra layers by which the Ethereum Virtual Machine is allowed to function within the QTUM ecosystem. Essentially, the Asian based currency combines the best of both worlds.

Essentially, QTUM wants to aid the transition of legacy systems and organizations that are becoming obsolete onto a Blockchain solution environment. This could effectively allow any company to create their own cryptocurrency with which they could power their business operations and sell their goods or services to customers.

QTUM provides developers with all necessary blueprints, tools, and pre-constructed smart contracts in order to promote ease of use. Additionally, QTUM provides support for third party data feeds, or oracles. Which are basically API’s that allow external devices to provide information to smart contracts functioning within the QTUM ecosystem.