What is Qtum?
Brief History Qtum Coin
The basic Qtum network was launched in September 2017. Very soon it was considerably updated and in spring 2019 the private blockchain version Unita for corporate use appeared. The world saw the Qtum token in March 2017 and it raised $15 million within only 5 days. There are official desktop and mobile wallets for storing and managing Qtum coins. Since July 2019 Qtum blockchain has been represented on more than 60 trading platforms. As Qtum was developed on the basis of blockchain algorithms of Bitcoin and Ethereum, this system is perfectly compatible with these two projects. Besides anything else, this means an easy implementation of new features, models, technologies, etc. As follows from the definition of Qtum, any Ethereum application can be transferred to this blockchain and due to the mentioned above Account Abstraction Layer, it is technically possible to start various virtual machines on the basis of Qtum.
Benefits of Buying Qtum on P2PB2B
Other Advantages of Qtum
The comparison with Bitcoin and Ethereum is inevitable, but Qtum coin has established itself in the cryptocurrency market as a progressive solution. High security is the key feature of the system provided by the Bitcoin core. Talking about the proof of stake algorithm, unlike the proof of work model, allows creating new blocks depending on the stake. This algorithm takes into account the number of unspent coins. The more Qtum coins you have in your virtual wallet, the more money you will earn. The proof of elapsed time mechanism is also involved.
Qtum coin is commonly chosen by large investors for these benefits:
- high security;
- the possibility to boost income depending on how many coins you already have;
- easy mining;
- support of creating smart contracts, the development of decentralized applications, and the proof of elapsed time algorithm.
What You Should Know About Qtum Mining
The essence of mining lies in performing various mathematical tasks by a number of unbound computers using a special program (miner). Qtum and many other coins are created as a result of this process. But it requires some special mechanisms, such as proof of elapsed time, stake or work, etc. to make mining safe and fair.
Many people wonder, is it possible to mine Qtum without any additional equipment at all? The answer is yes. If you can't wait to start, we suggest you try virtual mining.
You can stake any amount of Qtum to make your own contribution to this process. But don't forget, that the larger it is, the higher chances for you to be selected for creating a new block.
Staking depends on the weight of the miner's wallet (i.e. the amount of Qtum coins) compared to the network weight (the total amount of the currently being staked by all members of the network). If you are looking for means to maximize your chance to be selected, you should multiply separate transactions. And, of course, you will also need a proven exchange.