The development of blockchains has come a long way. The Bitcoin blockchain, which was the first to be developed, had its glorious features, but it was the Ethereum Blockchain that added smart contract features to the blockchain, giving birth to decentralized applications. These two model blockchains still need to be improved upon, leading to the creation of other blockchains.
Developed in 2016, Qtum is an open-source public blockchain that incorporates Bitcoin’s UXTO model in addition to smart contract compatibility. Qtum’s decentralized application compatibility allows developers to quickly deploy smart contracts and scale up their applications easily. A unique creation by Qtum is the Account Abstraction Layer (AAL). The AAL integrates UXTO with smart contracts, allowing users to build on multiple virtual machines and increase interoperability.
As an enterprise solution for clients, Qtum offers special services to clients to scale up their businesses. Qtum’s aim for a worldwide reach has reached new heights with node maps active in many countries with the United States, South Korea, and China leading. At the moment, there are 1,321 nodes across 61 countries. The blockchain decentralized governance protocol makes it possible for changes to be made without a hardfork.
Qtum (QTUM) Price Update
QTUM is the utility token of the Qtum blockchain. The price of the token since its launch in 2016 has been stable, making periodic steady gains. Recently, the price of QTUM has been on an upward rise for two months following the turnaround in the market. Surging as high as $14, the token recovered from record lows of $6 two months ago.
The five-day price chart of QTUM (QTUM). Source: Tradingview
With recent signs of strength, the price of QTUM is set to cross $15. Should it cross $15 in the coming days, it may go on a massive rally before the end of the year. Starting the year at $2.23, it has grown over 600%, and still has lots of steam left as the year closes. Qtum is ranked #82 on CoinMarketCap with a market capitalization of $1,300,118,973.
Recent Developments and Future Events
Qtum is an innovative blockchain project that seeks to attract more DeFi platforms to its chain. Its team is constantly developing mechanisms and luring more developers with incentives.
Qtum 2021 developments revolve around five mechanisms: Qtum core, Qtum infrastructure, Neutron, DeFi partnerships, and community activities. Qtum Core is a technology developed in phases for faster blocks, virtual machine updates, and improvements on the hardware wallet.
Over 100 nodes were deployed to test block spacing and algorithm. The development of QTUM has provided ledger support for the hardware wallet in sending tokens.
The development of Qtum infrastructure has aided in smart contract integration with Janus and cross-chain bridges with Floating Road. The Janus testnet was very efficient with the deployment of the Ethereum Procedure Calls.
Qtum’s Stake-a-thon was completed with 50 winners announced. The team is also working to deploy Janus to support Qiswap and other QRC projects. In addition, Qtum has partnered with Blockpass to facilitate regulatory compliance. Finally, Qtum has also partnered with Travala.
On The Flipside
Community
Qtum is an open public blockchain that banks on improvement and growth by its community. With an increasing community on social media, more users are jumping on the train. QTUM is the native token of the blockchain.
Users can stake Qtum and earn while contributing to the network. Qtum also organizes its Stake-a-thon to encourage community participation. In addition, the decentralized governance protocol enables users to make changes to the blockchain without a hardfork.
The DailyCoin team has found users hyped about QTUM on Twitter (NYSE:TWTR). Twitter user @ladyanonym predicted a potential rise of Qtum and had this to say;
@adulaitis informed the public of the decentralization of the blockchain.
On the contrary, another Twitter user projected a drop in the token;
Why You Should Care?
The improvement of chains is a constant factor in the cryptoverse. Qtum is a unique development because it combines elements of the two largest blockchains and improves on them. As developers search for faster and more scalable blockchains, Qtum is set for increased adoption.
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Source: Cryptocurrency - investing.com
