Qtum Blockchain

Qtum Review and Features

Qtum, pronounced Quantum, is a scalable, fast, green, stable, decentralised, and proof-of-stake blockchain platform that allows developers to use the features of Bitcoin and Ethereum. It is more decentralised than most blockchains, making it more resistant to censorship. Qtum aspires to disrupt the online transaction sector and become an essential component of the financial and social networking industries. Qtum’s network is built on Bitcoin core for security and stability. Qtum is based on a UTXO paradigm. The project integrates Ethereum’s virtual machines (EVM), allowing the chain to run full code required to support smart contracts and decentralised applications (dApps). The Qtum stack consists of a middleware layer and an account abstraction layer (AAL), which ensures that the UTXO set is compatible with smart contract execution layers. QTUM, Qtum’s native token, enables users to pay transaction fees and contribute to network security. Users can also vote on protocol enhancements.

Qtum Characteristics

Decentralized governance

Qtum is unique in that it can change parameters in a distributed manner. The community has access to a variety of smart contracts, which allow users to change characteristics such as gas prices, block sizes, and other critical elements.

Speed

If several layer-1 and layer-2 technologies are used, Qtum could possibly do “millions to billions” of transactions per second. The current layer1 network capacity of Qtum is roughly 1100 tps.

Proof of stake

To defend its network, Qtum employs the energy-efficient and scalable proof-of-stake technology. Participants can stake using low-powered devices or offline to save energy.

Upstream support

Because Qtum is a standalone blockchain, it combines the best of Ethereum and Bitcoin. It has the ability to get game-changing updates from both the Ethereum and Bitcoin ecosystems.

Token standards

Qtum facilitates access to industry standards like as NFT functionality and ERC20 tokens. You don’t have to pay exorbitant gas fees to send and receive fungible and non-fungible tokens.

Janas

Janas is a web3 adapter that may be used as a proxy adapter and web3 provider with Qtum. It simplifies the porting of solidity-based applications into Qtum.

Check Qtum Review and Rating to read more.