Qtum: Learn more about Qtum ,a proof-of-stake coin and a coin for creating other projects on top of its blockchain

Qtum: Learn more about Qtum ,a proof-of-stake coin and a coin for creating other projects on top of its blockchain

By quintomudigo | Crypto Street | 1 Aug 2019


      qtum2.png

Qtum is a native cryptocurrency  created on Qtum Blockchain network whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. Qtum cryptocurrency is a combination of Bitcoin transfer protocol and Ethereum Smart contract network. This was done to enable creation of new token as well as easy increasing of the Qtum block size without undergoing a hard fork.This was also done to ensure that Qtum becomes a proof-of-stake coin but not proof-of -work coin like bitcoin and ethereum.. The  reason as to why it has managed to become a proof-of-stake coin is because there is an Ethereum virtual machine implemented on its bitcoin transfer protocol.


Qtum transaction 

Qtum transaction takes place on the Qtum blockchain explorer based on block height and time stamp . To view how the transaction takes place at Qtum blockchain explorer, simply follow the link below;

  https://qtum.info/    

Date Launched

Qtum was created in 2016 but was officially launched in 2017 with the main objective of allowing other assets to be created on its blockchain. 

Founder Of Qtum

Qtum was created by Patrick Dai who is a Singapore Based technologist and an Alumni of Draper University. Patrick Dai was later joined by other three co-founders, namely; Stella Kung, Jordan Earls and Miguel Palencia. Stella Kung was a marketing director at ChainB before joining Qtum team while Jordan Earls is a software developer.On the other hand, Miguel Palencia is a blockchain technologist.  

Process of creating Qtum

 Unlike Cryptocurrencies like bitcoin and ethereum which are created as a proof-of-work through the mining process, for Qtum despite of it being a combination of bitcoin transfer protocol and Ethereum smart contract network that is not the case .During its prelaunch stage, 51% of Qtum were released to the Qtum blockchain.Some were sold to the investors while others were distributed to backers, Qtum team, Qtum business development and for marketing purpose. The remaining Qtum is the one that is being released to the Qtum blockchain through sttaking process. You can either decide to become a solo staker which is less rewarding or can join a staking pool which is more rewarding.You can join a staking pool to start earning an yearly interest of up to 8% . The higher your staking the more the reward. You can join the staking pool by following the link below

https://www.mycointainer.com/?partner=4PqXRKVAYWF0P1MgB8RVw      

Maximum circulation of Qtum

The maximum supply of Qtum coin that is expected to be circulating in Qtum blockchain should be 101,660,152 upon completion of its staking process.Out of this amount, 51,000,000 were sold to investors during intial coin offering while 8 million were distributed to Qtum angel backers. 12 million will be distributed to team members over a period of 4 years while 9 million were locked for marketing over 4 years. 20 million tokens were to be allocated for business development over the 4 year period. The remaining Qtum coin are expected to be released through proof-of-stake at a rate of 1 million coins per year.  

Qtum Price

Currently, 1 Qtum is worth more than $2.9 and its price is expected to increase over the next period of time. Qtum is being abbreviated as QTUM.

  Converting my Qtum to other cryptocurrencies

To convert your Qtum  to other cryptocurrencies such as bitcoin and ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your Qtum to bitcoin or ethereum.   https://www.binance.com/?ref=10776203    

Storing my Qtum

To store your Qtum, you need a Qtum wallet or other supported cryptocurrency wallets.You can use , Qtumwallet.org or other supported Qtum wallets. For the safety of your Qtum, you can use offline Qtum wallet like ledger hardware wallet can download the Qtum wallet.  

Transferring my Qtum to other Users

If you want to transfer your Qtum to another user, the two of you must have trust in each other. The trust should be the Qtum address provided for the receiver while the sender must have the Qtum balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;

QTUM SENDER.png

QTUM RECEIVER.png  

Knowing more About Qtum

If you feel that you need to learn more about Qtum coin, then you can follow them on their site. Here is the link redirecting you to Qtum website  https://qtum.org/en/  

  Now that you know, i think that it is time for you to start earning some Qtum by staking them .The more you stake the more you earn .If you feel that i should also own some Qtum for helping you to know about it then here is my Qtum address    QRvDn6NrugWgzGXUZ6N9jmzydArMnHzCQT


quintomudigo
quintomudigo

Trader, Blockchain Technologist and Contentpreneur. Also founder and CEO @ Teacher Forex School.


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