|White paper||Smart-Contract Value-Transfer Protocols on a Distributed Mobile Application Platform |
|Initial release||1.0 / 13 September 2017|
|Issuance||Decentralized, block reward|
|Block reward||4 QTUM|
|Block time||3 minutes|
|Circulating supply||73,905,668 QTUM|
|Exchange rate||US$25.83 (as of 24 February 2018[update])|
|Market cap||US$101.3 million (as of 24 February 2018[update])|
Qtum (pronounced Quantum) is a blockchain technology and cryptocurrency. Qtum is a combination of Bitcoin Core, proof-of-stake, and the Ethereum Virtual Machine (EVM). It allows smart contracts to be executed on a proof-of-stake consensus model as part of an unspent transaction output (UTXO), which is part of the Bitcoin transactional model.
Technology[edit | edit source]
Qtum employs proof-of-stake allowing participants to stake coins using one of the official Qtum wallets. Before the coins in the wallet can be staked, they have to be unlocked for staking and reach 500 confirmations. In addition to that, the wallet needs to be connected to the network to stake. When a participant mints a block, he will receive 0.4 QTUM. After 500 blocks, additional 3.6 QTUM will be paid to the wallet in 9 consecutive blocks. Thus the member will receive a total of 4 QTUM. Any amount of Qtum can be staked. Yearly staking ROI depends on the network weight and is around 5-7% as of 26 February 2018.
51% of all Qtum tokens (51 million) have been released to the public during initial coin offering (ICO) round where $15.6 million has been gathered 117 hours, with single token priced at around $0.30. 29% of the remaining tokens will be allocated to community incentives in order to benefit the Qtum ecosystem. Further 20% will be distributed among early development team, founders and early backers.
Qtum Mainnet has been released on 13 September 2017 and currently it has 3000+ nodes distributed across 60+ countries.
Qtum system makes it possible to create and airdrop custom tokens to Qtum holders. Example of such event was e.g. Bodhi (BOT) token airdrop which occurred on February 16th 2018 at the block 93330 of Qtum blockchain with the ratio of 4 BOT/100 Qtum. Custom tokens can be claimed, sent and received using Qtum core wallet.
References[edit | edit source]
- "Smart-Contract Value-Transfer Protocols on a Distributed Mobile Application Platform" (PDF). Retrieved 24 February 2018.
- "Qtum Has Big Aspirations to Grow as 'Blockchain of China'". Newsmax. Retrieved 3 January 2018.
- Kharif, Olga (December 8, 2017). "The Bitcoin Whales: 1,000 People Who Own 40 Percent of the Market". Bloomberg Businessweek. Retrieved February 15, 2018.
- "Qtum staking FAQ". Qtum explorer. Retrieved 24 February 2018.
- "Qtum Shatters ICO Records Raising $15.6 Million". the-blockchain.com. Retrieved 24 February 2018.
- "Qtum Blockchain Economy Whitepaper" (PDF). the-blockchain.com. Retrieved 24 February 2018.
- "Qtum Price Rallies 60% Ahead of Mainnet Release". CCN. Retrieved 24 February 2018.
- "Bodhi Token (BOT) Token Launch Plan". Medium.com. Retrieved 25 February 2018.
- "QTUM DAPPS". Retrieved 25 February 2018.
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