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- Qtum, a general-purpose blockchain project, is undergoing a rebranding as it looks to expand its offering to a wider audience
- Qtum has unveiled a 30-second video of its new logo, with a change of name to come soon
- Qtum has scheduled the first halving on the network to happen on December 1 to reduce the inflation rate of QTUM to 0.5%
- The founder of Qtum, Patrick Dai, recently announced that Qtum is working to support Bitcoin’s Taproot network
Qtum is a general-purpose blockchain that combines the best of the Bitcoin and Ethereum blockchains. Qtum seeks to solve the problem of interoperability, governance, rigidity, and costliness of the proof-of-work mechanism.
Launched in 2016, Qtum enjoyed a lot of early success as it reduced the difficulty of connecting smart contracts with real-life applications. Its performance has seen the Qtum network reach 1,343 nodes in 64 countries. So, how has Qtum performed recently?
Price Updates
QTUM, the utility token of the Qtum network, enjoyed one of its biggest rallies in October, sending the coin to a new six-month high. On November 1, QTUM peaked at $19.15 after enjoying a 30% rally in the last week of November.
The one-week price chart of Qtum (QTUM). Source: Tradingview
At the time of this writing, QTUM trades at $15.809 after dropping 4.2% in the last 24 hours. Qtum is ranked by CoinMarketCap as the 86th largest digital asset with a market cap of $1.563 billion.
Recent Developments
At the tail end of October, Qtum commissioned a design firm to rebrand the project. As the rebranding happens, Qtum social engagement crossed the highest point in the last three months.
The rebranding falls into Qtum’s plan of expanding and showcasing their technology more. Since the rebranding announcement, Qtum has gotten a new website, new brand design style, marketing team, mascot, and recently a new logo.
On November 10, the Qtum team unveiled the new logo. The new Qtum logo was unveiled via a 30-second video, with the team promising to work to improve Qtum and its larger brand in 2022 and even after.
The last part of the Qtum rebranding will see Qtum get a new name. While there is no date for unveiling the new name, Qtum has announced that it has hired more developers to support its rebranding and expansion project.
Qtum also recently partnered with Travala, a blockchain-based travel booking platform. With the partnership, users can now book a trip and accommodation and pay with Qtum through Travala.
Future Events
The Qtum development team has announced that the network will experience its first halving in Qtum (QTUM) on December 1. Halving involves slashing the reward for mining a coin (QTUM) by half.
The team believes that through halving on the network, the inflation rate of QTUM will decrease to 0.5% per year. An inflation rate of 0.5% per year will be lower than what gold, BTC, and ETH experience.
The founder of Qtum, Patrick Dai, recently announced that Qtum would support Bitcoin’s biggest tech updates, including the Taproot in the upcoming Qtum release.
Without fixing a timeline for the upgrade’s release, Dai revealed that integrating Taproot into Qtum will enhance the scalability and privacy of the network. In addition, he believes the upgrade will make Qtum a better coin and platform.
The Qtum team also attended the Wanxiang Blockchain conference in Shanghai to talk more about the Taproot integration.
Outlining its plans after completing its rebranding, Qtum has announced that it will become more involved in the metaverse. This could mean that the Qtum network will integrate decentralized social media, online gaming, and possibly augmented reality (AR) or virtual reality (VR) into its platform in the coming months.
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