We’re thrilled to bring our users a new addition to our expanding crypto marketplace: Qtum (QTUM, pronounced “quantum”). Qtum is an exciting cryptocurrency that fills a unique need within the growing token economy.
What is Qtum?
Most cryptocurrencies are modeled after one of the predominant coins (think Bitcoin or Ethereum) and adopt one of those coins’ central themes (security vs functionality, respectively). Qtum sought to shake off this either-or duality by embracing the best of both worlds: the security of the Bitcoin blockchain combined with the functionality of the Ethereum blockchain.
To make a best-of-both-worlds cryptocurrency, the developers of Qtum melded the core code of Bitcoin with the Ethereum Virtual Machine to create a cryptocurrency that is both highly secure and highly scalable. This means that businesses, users, and projects already running on the Ethereum protocol can easily make the switch to Qtum, which ensures that Qtum has the opportunity for tremendous growth in the future.
What is Qtum used for?
Qtum was designed to be used by businesses early and often. By offering smart contracts as a way to make processes more reliable, more secure, and more automatic, businesses can cut costs and streamline their economy when they use Qtum. Additionally, because Qtum hosts a decentralized application platform (Decentralized Governance Protocol – DGP), this cryptocurrency can seamlessly work within existing blockchain infrastructure while also able to incorporate any new technological breakthroughs that may come later. This all adds up to a lean, capable, and secure cryptocurrency created for out-of-the-box usability.
For more information about what Qtum is and can be used for, check out this quick video:
We know that you might still have more questions about Qtum, which is why we’re working on an in-depth analysis of this cryptocurrency that will fully explain smart contracts, proof-of-work, proof-of-stake, DGP, and all of the other concepts you might need to know. Additionally, you can check out the Qtum team’s website to see how they explain their exciting cryptocurrency.
We hope you’re inspired to take a closer look at Qtum! Be on the lookout for more content about Qtum in the Discover section of the Metal Pay app, as well as on our social media accounts. You can find us at @metalpaysme on Twitter, Instagram, and Facebook, and @metalpay on Steemit!