Cryptocurrency is not just a word but a spectacular innovation of the modern world. When cryptocurrency was invented around a decade ago, there was the least scope for it to get famous and comprehensive. Today’s generation is the most innovative generation to date and is experimenting with its skills in this field also. The sole purpose of inventing this digital form of currency was to end the monopoly of fiat money and minted coins. As far as the control of finance is concerned, its purpose was to end the monopoly of these institutions which also manage the flow of money and currency in the market. Everything that was started with Bitcoin has now changed a lot. So where should you trade Bitcoin? There are more than a dozen cryptocurrencies that are working and active in the market. People being experimented with are now operating other currencies and are doing well in their fields.
It is regarded as one of the most famous open-source technologies in blockchain and is under the sheer control of the QTUM foundation itself. All blockchains are of decentralized nature and this is also one among them with a decentralized form of operation. It has the capability and facility of smart contracts working on different nodes and taking into consideration the protocols of blockchain. Sometimes, QTUM is considered to be the combination of Bitcoin and Ethereum blockchains, thus being of hybrid nature. With the features of the Ethereum blockchain, it can be used for smart contracts and other DApps that work on P2P technology. It is only because of this feature of Ethereum support that its impact is far and wide.
Working of QTUM
It is a hybrid of bitcoin and Ethereum blockchains and has the crux of both. Thus, it summarizes the good points of both the chains and gives the result in the end that is better than their impact. In technical terms, the developers working in QTUM take the core algorithms from bitcoin and change the protocols from POW to POS, thus modifying the basic structure to work on the terms of Ethereum. The main reason behind using only the core algorithm of bitcoin is that the most famous cryptocurrency is bitcoin and in near future, it is the sheer need of any project to comply with bitcoin. So, a program should be made that has this capability of maintaining records with bitcoin.
Faces behind QTUM
As said before the currency QTUM is a result of mixing the features of bitcoin and Ethereum. So in the team of QTUM, there are members that belong to both communities. Not only this, many members have previously worked with reputed organizations like Tencent, NASDAQ, and many more. Also, some members belong to the reputed community of various blockchains.
QTUM’s share in the market
In recent times it has managed to raise a share of around a whopping $16 million which was fourth in its race. The distribution of tokens in the name of QTUM was more than 50 million and the creation was more than 100 million. Thus, keeping all these facts into consideration this currency has managed to score a fair share in the market. The users being loyal to bitcoin and Ethereum are easily attracted to this because the features belong to these chains and they feel no change towards it. Thus, it can be considered as this can be the future of cryptocurrency. The market is volatile and has challenged almost every cryptocurrency to survive but keeping the previous records of QTUM into consideration is better than the rest so a good option for the change.