QTUM is a unique cryptocurrency that combines aspects of Bitcoin and Ethereum in one innovative blockchain platform. With its blend of security, smart contract functionality and efficiency, QTUM has found many applications of value that intrigued both businesses and developers. If you want to know more about this interesting cryptocurrency, keep reading to learn what QTUM coin is and how it works.
What is the purpose of QTUM coin?
QTUM was created to provide a secure and powerful blockchain infrastructure for decentralized applications (DApps) as well as enterprise solutions. The project leverages the stability of Bitcoin’s UTXO model alongside Ethereum’s smart contract capabilities through a technology called the Account Abstraction Layer.
Qtum protocol’s native token, also called QTUM, serves multiple important purposes on the network. It is used to pay transaction fees for executing smart contracts, securing the blockchain through staking, and participating in on-chain governance votes. As a news and guide platform powered by blockchain, EXEcrypto makes staying informed of QTUM developments easier than ever.
How does QTUM crypto work?
Under the hood, Qtum takes a UTXO-based accounting approach like Bitcoin. This records each transaction output as it is spent, making the blockchain easy to audit. However, Qtum also incorporates the Ethereum Virtual Machine, allowing for complex smart contracts to be deployed using languages like Solidity.
To bridge these two systems, Qtum developed an ‘Account Abstraction Layer’ that gives the appearance of Ethereum-like accounts on top of the underlying UTXO model. This integration of Bitcoin and Ethereum benefits is what makes Qtum truly novel.
The Qtum blockchain reaches consensus using a Proof-of-Stake protocol called Mutualized Proof-of-Stake. This rewards validators for securing the network in a way that discourages junk smart contract attacks. Qtum holders can also stake their coins and receive rewards without giving up custody.
Does QTUM token have a future?
Many argue that QTUM has a bright future ahead of it due to its unique technical design and expanding ecosystem of applications. By incorporating the best of Bitcoin and Ethereum, Qtum provides an efficient smart contract platform with a large amount of existing development resources.
Major corporations like Google Cloud and JD Cloud have partnered with Qtum, showing its suitability for enterprise use cases. Over 100 dApps have also launched on Qtum so far across sectors like gaming, banking and healthcare. The project maintains a dedicated developer fund to encourage further growth.
With continuous network upgrades and a growing number of ways to earn QTUM through staking or delegating, the token itself should see increasing demand and use case over the long run. That bodes well for those who invest in QTUM now. Just be sure to only invest amounts you’re willing to lose – nothing in crypto is guaranteed!
When QTUM coin launched?
Qtum launched in 2017 after a successful Initial Coin Offering that raised over 15 million dollars. The founders are Patrick Dai, Jordan Earls, and Neil Mahi – who all have strong technical backgrounds in Bitcoin and Ethereum. Qtum’s mainnet went live in September 2017, making it a relative veteran in the crypto space compared to newer blockchains.
Unlike some other cryptos that launched without a working product, Qtum delivered on its promising tech from the start. The project has continued refining its features through regular upgrades ever since. QTUM began trading on major exchanges shortly after mainnet launch, opening it up to wider crypto adoption.
Is QTUM crypto a scam?
Given its experienced team and tech-focused roadmap, most crypto experts don’t consider Qtum to be a scam. The project delivers open-source code and active development, unlike fly-by-night operations. Qtum also doesn’t make unrealistic growth promises or rely heavily on hype – the emphasis is firmly on tech advancement.
That said, as with any cryptocurrency investment, there are inherent risks involved with QTUM. Its long-term success depends on continuous protocol enhancements and a thriving ecosystem of users. Economic or political factors could also impact the project. But provided Qtum maintains momentum – which it has so far – most analysts view its prospects positively rather than dismissing it as a scam outright.
Is it safe to invest in QTUM token?
Like all speculative crypto assets, there is risk any time you invest in QTUM rather than holding it as a medium of exchange. The token price could rise or fall substantially depending on market conditions. Only invest amounts you can afford to lose without long-term damage to your financial plans.
That caveat aside, QTUM appears reasonably safe as far as crypto goes – safer than fly-by-night coins, at least. The project has delivered on its roadmap so far and gained partnerships like Google Cloud. You can further reduce investment risk by only buying QTUM from trusted exchanges like Binance, taking a long-term outlook, and diversifying into other solid coins too. Staking QTUM also earns extra yield to balance out short-term price volatility.
If you believe in the project’s tech and growth potential, keeping some QTUM in a diverse portfolio seems fairly justified from a risk-reward perspective. Just don’t go “all in” on any single crypto no matter how promising it looks.
Is QTUM coin worth it? QTUM Price 2023
Whether or not QTUM is worth investing in depends on your goals as an investor and your timeline. Looking at past and potential future price performance is one factor amid others like network growth, use cases, and technical innovation.
QTUM traded around $6 after launching in 2017 but peaked over $100 in early 2018 – a spectacular return for early buyers. Since then it’s settled between $2-3.5, with some volatility. Many analysts predict QTUM retesting prior highs as the overall crypto market matures.
Longer-term, if Qtum achieves widespread enterprise adoption and a bustling developer community, a $50-100 price range is not impossible according to optimistic predictions. A lot depends on how well the project continues innovating over the next 5+ years.
With staking yielding 5-10% annually, holding QTUM also generates crypto “interest” regardless of price direction. So from a holder’s perspective, the coin remains a viable speculative investment for patient investors.
Where to buy QTUM crypto?
You can purchase QTUM on major cryptocurrency exchanges like Binance and Kraken. Sign up, deposit funds from your bank via wire transfer or credit card (depending on local availability) and trade it for QTUM or other supported assets. QTUM can then be withdrawn to your personal crypto wallet.
QTUM is also available on a growing number of spot trading platforms tailored for new investors. For example, coin salaries offer exposure through payroll deposits. And thanks to services like EXEcrypto, everyone can now get beginner-friendly QTUM and other crypto news updated in real-time to their device – making learning and participating more accessible than ever.
How to sell QTUM token?
Selling QTUM is the reverse process of buying. Transfer your tokens from your personal wallet to your exchange account if not already there. Then choose QTUM/USD (or your fiat of choice) in the spot trading markets and place a “sell” order.
The order will match with prospective buyers and your QTUM converted back to cash, which you can then withdraw from the exchange to your bank account. Be sure to check each exchange’s withdrawal limits and processing times to plan accordingly. Capital gains taxes may also apply depending on jurisdiction and holding period.
How to stake QTUM coin?
Staking QTUM is straightforward once you’ve purchased some tokens. The non-custodial method lets Hodlers maintain control and spend coins at any time. Simply visit the Qtum staking portal and paste your wallet address. Then delegate to a “Super Staker” node who will validate transactions on your behalf in exchange for a small percentage fee.
Your staked QTUM remains in your wallet but earns a yield from block rewards. This passive income provides ongoing value as the ecosystem expands. There are also custody/staking services to automate the process if desired. Staking enhances network security while offering investors extra return on their long-term holdings.
How to mine QTUM crypto?
Proof-of-Work mining sadly doesn’t apply to Qtum, as it uses the more efficient Proof-of-Stake protocol. But fans can still support the network through CPU-focused means without ultra-expensive hardware. Options include:
- Running a full Qtum node to validate transactions and support decentralization.
- Using your CPU power to provide “Cloud Mining” hash rate for rented miners.
- Delegating idle computer processing to distributed projects working on Qtum upgrades or applications.
- Sharing authentic content about Qtum to help onboard new users through a publisher program.
While these roles won’t yield big payouts, they offer hobbyists low-cost involvement and help Qtum progress via grassroots support. And who knows – passive benefits may one day be included.