In the context of many competing blockchains in terms of speed and scalability, Qtum chooses a unique path by combining Bitcoin's stability with Ethereum's smart contract power, aiming to bring blockchain closer to practical business and life applications. What makes this project special? Let's explore with Allinstation through the article below!

What is Qtum (QTUM)?

Qtum (pronounced: "Quantum") is an open-source blockchain platform that combines Bitcoin's UTXO transaction model and Ethereum Virtual Machine (EVM) to provide an efficient, secure, and cross-compatible smart contract platform. The project was launched in 2016 by Qtum Foundation, based in Singapore, with the goal of bringing blockchain technology into real-world business applications.

Qtum is designed to inherit stability and security from Bitcoin while leveraging the power and flexibility of smart contracts from Ethereum - all supported on an environmentally-friendly Proof of Stake (PoS) consensus platform.

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• Easy to access for traditional programmers.
• Allows optimization of performance and security.
• Supports multiple system library types that Solidity cannot provide.

x86 VM is Qtum's long-term solution to overcome Ethereum's limitations in programming language and development environment.

Qtum Mobile Wallet & Lite Wallets

Qtum develops multiple wallet types to serve user needs:

• Qtum Mobile Wallet (iOS & Android): Non-custodial wallet, supports sending, receiving QTUM and QRC tokens.
• Lightweight "Staking": Allows users to perform QTUM staking directly from mobile devices.
• Lite Wallet: Lightweight desktop version, does not require downloading the entire blockchain.

Thanks to the UTXO model and SPV (Simple Payment Verification) mechanism, Qtum allows direct execution of smart contracts from lightweight wallets, which is rare in other blockchains.

Qtum Explorer & Dev Tools

Qtum provides support tools for developers and users:

• Qtum Explorer: Blockchain explorer displaying transaction, contract, token, wallet address information...
• Qtum SDK: Library for C++, Python, JavaScript... serving Qtum blockchain integration into enterprise systems.
• Oracles & Chain Integration: Developing oracle integration to connect real-world data with smart contracts.

Bridge & Cross-chain Tools (under development)

• Qtum is testing bridges to Ethereum and L2 solutions like Arbitrum, zkSync, allowing QRC assets to be used in other ecosystems.
• Plans to integrate zkRollup and Validium are also being tested to expand transaction processing capabilities.

Qtum's Distinctive Features

• Combining UTXO and EVM: Qtum leverages Bitcoin's reliability and Ethereum's programming capabilities.
• Supporting smart contracts on mobile devices: Executing contracts via lightweight wallets without running a full node.
• Cross & backward compatibility: Can redeploy many Ethereum dApps with minimal modifications.
• Supporting x86 VM: Allows writing smart contracts using popular programming languages.
• Enhanced security & decentralization: Using PoS and a widespread node system with low operating costs.
• Enterprise-oriented: Focusing on applications in IoT, supply chain, telecommunications, social networks...

Overview of QTUM Token and Tokenomics

Basic Information

• Ticker: QTUM
• Blockchain: Qtum Blockchain
• Consensus: Proof of Stake (PoS 3.0)
• Token Standard: QRC20, QRC721
• Total Supply: 107,822,406 QTUM
• Circulating Supply: 105,667,700 QTUM

Token Distribution

• 51%: Token Sale
• 12%: Development Team
• 8%: Angel Investors
• 9%: Marketing Budget
• 20%: Business Development and dApps Support

Token Release Schedule

Currently updating...

Token Utilities

• Paying transaction and contract deployment fees
• Staking rewards for validators
• Future protocol governance (DAO)

Roadmap

2024 – 2025:

• Deploying Qtum Neutron EVM layer
• Upgrading staking mechanism to improve reward distribution
• Launching stable version of x86 Smart Contract Platform
• Integrating zkRollup and bridge to Ethereum Layer 2
• Launching DAO community fund and community proposal mechanism (QIP – Qtum Improvement Proposal)

Development Team, Investors, and Partners

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• Qbao Network: A wallet, social, and dApp ecosystem similar to WeChat, built to connect users with the Qtum blockchain.
• Blockpass: A decentralized KYC and identity solution integrated into dApps on Qtum.
• Chainlink (in testing): Collaboration to provide decentralized oracles for smart contracts on Qtum.

Summary

Qtum is supported by a technically experienced team, reputable crypto investors, and a network of partners spanning technology, finance, and blockchain platforms. This combination not only facilitates technical development but also helps Qtum expand practical applications in areas such as enterprise, IoT, decentralized finance, and supply chain. This is a crucial foundation for Qtum to maintain its position in the increasingly competitive blockchain market.

Allinstation has answered the question about what Qtum is and provided information about the project's token. Everyone should explore and evaluate to make the most informed investment decisions. Good luck!