Qtum is an open-source blockchain platform that combines the UTXO model of Bitcoin with the smart contract power of Ethereum, using the environmentally friendly Proof of Stake (PoS) consensus mechanism.
The Qtum project was born with the goal of optimizing the stability and security of Bitcoin along with the ability to develop dApps from Ethereum, aiming at applications in enterprises and real-life.
MAIN CONTENT
Qtum uses the Account Abstraction Layer (AAL) to operate EVM on the unique UTXO model of Bitcoin.
Diverse product ecosystem: Qtum Core, AAL, Neutron EVM Layer, x86 VM, mobile wallet, and development toolkit.
A strong team with reputable investors and global partners helps Qtum develop sustainably and apply in enterprises.
What is Qtum (QTUM)?
According to in-depth analysis and market reports in 2024, Qtum is a blockchain platform that combines the advantages of Bitcoin and Ethereum. Notably, Qtum integrates the UTXO transaction model of Bitcoin with the Ethereum Virtual Machine (EVM) allowing for efficient smart contract development, high security, and cross-compatibility in the ecosystem.
Unlike many other blockchains focusing on increasing processing speed, Qtum focuses on providing stability and security from Bitcoin, while expanding programming capabilities and enterprise applications with smart contracts based on PoS, helping to reduce energy consumption.
How does Qtum work?
Qtum operates on the Bitcoin Core platform with the intermediary Account Abstraction Layer (AAL), which is the main technical innovation point that allows EVM and x86 virtual machines to operate smoothly on the UTXO model.
Qtum's Proof of Stake (PoS 3.0) consensus mechanism supports Token staking for transaction validation, reducing operational costs, and increasing decentralization. AAL preserves the security of traditional transactions while expanding the execution capabilities of diverse smart contracts.
Qtum Core and the Account Abstraction Layer are solutions that turn Blockchain into a practical, safe, and accessible platform for businesses.
Patrick Dai, CEO Qtum Foundation, 2024
What are the main products of Qtum?
Qtum develops a multi-layer ecosystem to serve a diverse range of users from enterprises, Web3 developers to general users.
Qtum Core (Qtum Full Node)
This is the software that operates the main node, allowing staking for transaction validation, securing the network, and supporting the development of blockchain applications like dApps through CLI for programmers.
Account Abstraction Layer (AAL)
AAL is the bridge between the traditional UTXO model and modern smart contracts on EVM or x86 virtual machine, making contracts compatible, secure, and easier to audit.
Qtum Neutron (EVM-compatible Layer)
Launching in 2024, Neutron is a separate EVM network running parallel to the Qtum mainnet, making it easy to deploy dApps written in Solidity, compatible with MetaMask and prominent development tools like Hardhat, Remix.
x86 Virtual Machine (x86 VM)
The x86 virtual machine allows writing smart contracts in popular programming languages such as C, C++, Rust, Python, reducing barriers for traditional programmers and enhancing performance optimization and security.
Qtum Mobile Wallet & Lite Wallets
The official Qtum wallet supports iOS, Android with non-custodial functions, sending and receiving QTUM, light staking directly on the device, and also has a Lite Wallet version for desktop that does not require downloading the entire blockchain.
Qtum Explorer & Developer Tools
Qtum provides a blockchain explorer, a multi-language SDK, and oracle services to support application development, while developing bridge tools, zkRollup to expand processing capabilities and cross-chain interaction.
Outstanding features of Qtum
Qtum stands out for its unique combination of UTXO transaction model and EVM smart contracts, supporting multi-language smart contract writing, transactions via lightweight mobile wallets with high security PoS mechanism.
High cross-compatibility allows for the reuse of many Ethereum dApps.
x86 VM support allows flexibility and optimization of programming languages.
Low operational costs, environmentally friendly.
Focusing on applications in IoT, supply chain, DeFi.
Overview of QTUM Token and Tokenomics
Specification Value Ticker QTUM Blockchain Qtum Blockchain Consensus Mechanism Proof of Stake 3.0 (PoS 3.0) Token Standard QRC20, QRC721 Total Supply 107,822,406 QTUM Circulating Supply 105,667,700 QTUM
The Token distribution is evenly divided for public Token sales (51%), development team (12%), angel investors (8%), Marketing (9%) and business development, dApp support (20%).
What does the Qtum 2024 – 2025 Roadmap include?
Qtum is oriented towards developing focusing on completing the Neutron EVM layer, upgrading staking, launching a stable x86 VM, integrating zkRollup, building Ethereum L2 bridges, and establishing DAO community funds to expand network governance.
Who are the development team, investors, and partners of Qtum?
Development Team
Qtum has a highly experienced team including Patrick Dai (Co-Founder & CEO), Jordan Earls (Lead Developer), and Neil Mahi (CTO), with a solid technical background and extensive practical experience in blockchain, security, and finance.
Investors
Qtum successfully raised $17 million during the 2017-2018 period with the participation of renowned individuals and organizations such as Anthony Di Iorio (Co-founder of Ethereum), Bo Shen (Fenbushi Capital), and Star Xu (Founder of OKX).
Strategic Partners
Amazon Web Services (AWS): Supports blockchain deployment on the cloud.
Baidu Cloud, Qihoo 360 Finance: Developing blockchain-based financial applications in China.
Baofeng Group: Building a decentralized content distribution system.
Pundi X: Integrating QTUM payments into the global POS system.
Qbao Network, Blockpass, Chainlink: Supporting wallets, decentralized KYC, and oracles for smart contracts.
Collaboration with Amazon Web Services and major enterprises affirms that Qtum is not just a blockchain project, but a practical technology platform for global enterprises.
Neil Mahi, CTO Qtum, 2024
Summary
Qtum is a pioneering blockchain project that combines the Bitcoin transaction model with Ethereum's smart contract technology on an energy-saving PoS mechanism. With a diverse product ecosystem, expert team, and strategic partnerships, Qtum is gradually asserting its position in the global blockchain market, especially focusing on enterprise applications and Web3 development.
Frequently Asked Questions
What makes Qtum special compared to other blockchains?
Qtum combines the UTXO model of Bitcoin with Ethereum's EVM, supports multi-programming languages, energy-saving PoS mechanism, focuses on enterprise applications and high cross-compatibility.
What is the QTUM Token used for?
Used to pay transaction fees, staking for validators, and future protocol governance through DAO.
Is Qtum an environmentally friendly blockchain?
Yes, Qtum uses Proof of Stake version 3 consensus mechanism, helping to reduce energy consumption compared to Proof of Work.
Who is behind Qtum and which reputable investment fund?
The project was founded by an experienced technical team, raising $17 million from notable investors such as Anthony Di Iorio and Fenbushi Capital.
What products does Qtum have to develop its ecosystem?
Qtum has Qtum Core Node, Account Abstraction Layer, Qtum Neutron EVM Layer, x86 VM, mobile wallet, and developer toolkit.
Source: https://tintucbitcoin.com/qtum-qtum-la-gi/
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