QTUM101: An Introduction to Qtum (QTUM)
The growing number of cryptocurrencies in the digital space has made it almost impossible to keep records of all digital assets, and only those with unique features and offering gain relevance (not in terms of market capitalization). In this article, we would look at Qtum, and what makes it a special digital asset.
What is Qtum?
Qtum creates public blockchains with an open source code. Qtum help organizations build decentralized applications (in blockchains) focusing primarily on applications that can be executed on mobile devices. The combines the best of Bitcoin (blockchain) and Ethereum (decentralized system) to create its brand.
Qtum also provides secure smart contract templates, with translations from smart contracts codes to human languages. The goal is to work with industry partners and launch the first Value Transfer Protocol (VTP). The QTUM project is implemented by Qtum Foundation Company, located in Singapore.
Qtum’s Blockchain on Mobile
The number of people who use mobile phones to access the internet outweighs desktop. Qtum understood this and became the first digital asset to focus on building blockchains for mobile phones. Qtum uses simple payment verification methods on mobiles that allow users execute smart contracts with lite wallets. This makes it easier to access blockchain anywhere, even on the go.
How to Buy QTUM
One of the easiest ways to purchase QTUM is through coinbase. (there are other methods of acquiring QTUM coins, but for this article, we will use coinbase and Binance for supports atomic swap).
Sign in to your coinbase account.
Purchase some LiteCoin or Ether.
Move your purchased LiteCoin or Ether to Binance. On confirmation you can now perform atomic swap; LTC/QTUM or ETH/QTUM
Choose your wallet to store your QTUM and transfer there. A detailed transfer process can be found here.
As at the time of this writing, QTUM is trading at $33.56 (USD) apiece. An estimated market cap of $2.5 billion (USD) makes QTUM the 18th most valuable digital asset in the market.
In a Nutshell
QTUM as a hybrid of Ethereum and Bitcoin is still far off from the both. In terms of market valuation, QTUM has definitely had better days. However, QTUM still remains highly promising for 2018, as it is focused on introducing accessible options for the business world by fusing blockchain with the business world.