Qtum is a blockchain network developed in 2016 that combines the smart contract capabilities of Ethereum with the UTXO accounting mechanism of Bitcoin. This is accomplished through the use of a technology known as the Account Abstraction Layer, which allows Qtum to implement updates from both Bitcoin and Ethereum.
Because Qtum is decentralised, no authorization is necessary to validate transactions. Anyone with a device and an internet connection may operate a node. To prevent junk contract attacks, Qtum employs a Mutualized Proof of Stake consensus method. The rewards are divided among numerous successful validators and are partially delayed for 500 blocks.
Token protocols such as QRC-20, QRC-1155, and QRC-721 are natively supported by Qtum. The network’s primary token is the QTUM cryptocurrency, which is used for transaction fees, staking (which may also be done offline), and governance. QTUM may be purchased with a credit or debit card on Binance, or it can be traded for other cryptocurrencies.
Qtum is headquartered in Singapore and has operations in Miami and Stockholm.
