Cryptocurrency Qtum combined the technological features of Ethereum and Bitcoin. The result is a fundamentally new version. The Qtum development team has been in the digital coin business for a very long time and this fact, as well as the successful combination of the two oldest cryptocurrency technologies, has led to Qtum now being the most popular variety of India tokens.
The idea of creating Qtum came to Patrick Dai, who at that time had been working with the blockchain system for a long time. The company in which this digital coin was developed is called Quantum Foundation. During the fundraising for the development of the project, about 5,000 bitcoins were raised in the first 10 minutes. And this huge amount, formed with impressive speed, testifies to the confidence of investors in this option of digital money.
This is not surprising, because the team consists of people who have developed more than one type of cryptocurrency that is still successfully operating. By the way, the developers themselves have invested in the development of their own project a total of about one million dollars. The development of the product is monitored by a large Asian company PwC China, which is engaged in auditing.
Features of the Qtum project
The platform operates using two types of contracts - smart and master. As in the case of Bitcoin, PoS protocol is used, which allows different virtual machines to interact with each other. This not only increases the reliability of the platform, but also enables adaptation to other blockchain-based systems, which in turn provides support for operation on portable devices, including those that use IoT technology. Thanks to this architecture, it is possible to migrate contracts and applications from the Ethereum platform to Qtum-blockchain.
The platform is open source and managed in a decentralized way, which is typical of most cryptocurrencies on the market today. There is also a Light version of the wallet, which allows you to interact with the coin using mobile devices that run on Android. The product itself is focused not only on business representatives, but will also be useful for individuals. The developers plan to cover the financial and industrial spheres, as well as the market of mobile devices, with cryptocurrency.
The system is completely transparent, it does not hide anything from potential investors. For example, anyone can see the development team on the official website of the project.
Advantages of Qtum
The main advantages of the system are the following:
- A sufficient level of protection against hacker attacks and high reliability of the platform as a whole;
- A decentralized system with powerful software that allows you to store and distribute data more efficiently;
- Despite the current rather high cost of tokens, the cryptocurrency still has a huge potential for development, which means it can be considered undervalued and is likely to continue its growth.
The possibility of mining this cryptocurrency is not provided by the developers.
At the moment there is no mining in the system Qtum and is not expected.
However, users can receive remuneration in Qtum currency for storing these tokens on their wallet. But for this tokens must "mature", that is to exist on a purse for a certain period of time. The system provides that the total number of coins can not exceed 100 million.
Prospects for the development of Qtum
At the moment there are already implemented several decentralized applications for the platform Qtum and the developers are not going to stop there. And the highly qualified team, many members of which have already been noted in the successful development of other cryptocurrencies, only strengthens the confidence of potential investors in the coin.
Summing up all of the above, we can notice that Qtum Cryptocurrency is not a bad option both for short-term and long-term investments, because it is unlikely that its price will fall and will not recover after the fall. Experienced players of the cryptocurrency market can assume that the price of Qtum will only grow, starting from the launch of the project for a wide audience and after the implementation of the next part of the developers' plan. Therefore, do not lose the opportunity.
If this project appealed to you as a reliable and promising, do not forget to replenish your cryptocurrency wallet with a new type of digital currency Qtum.
Buy Qtum in India
Buy Qtum on the exchange.
The process of trading cryptocurrency on an exchange is quite simple. Most exchanges use order stacks, through which you can place a limit trade order as well as initiate a market order. The liquidity of each exchange depends on its market cap. The higher the liquidity, the smaller the spread between buy and sell orders.
Most exchanges offer only basic functions, which, however, are sufficient for the average user. A small number of specialized exchanges offer trading instruments with high leverage, such as futures or open-ended swaps.
The biggest advantage of an exchange is the ability to trade a wide range of cryptocurrencies.
Invest in Qtum through a broker.
Brokers provide additional tools for margin trading, such as Contract for Difference (CFD). Also brokerage platforms often offer clients special tools, which help users in the process of trading. They include technical analysis tools, such as various indicators, moving averages, etc., and even automated trading strategies and robots. All of them are aimed at managing risk and improving trading results.
If a client trades CFDs, leverage can be used to enhance financial performance. For example, if the leverage of the selected cryptocurrency is 1:2, and the price moves by 5%, the CFD trader will make a 10% profit or, conversely, will lose 10%. It all depends on the direction of price movement and the type of position chosen.
Also, crypto brokers provide narrower spreads than crypto exchanges. This is the main reason of their popularity, especially among those who are engaged in margin trading.
Pros and cons of cryptocurrencies
Cryptocurrency is an electronic means of payment without a physical expression of form. The basic unit of measure is "coins". They are used like traditional money, including storage, transfer to third parties, payment for goods or services.
Unlike an electronic wallet, cryptocurrency is based on a complex cryptographic algorithm. The principle of digital coins is based on an open data transfer protocol. All actions, including issuing new money and processing transactions, are performed collectively by network participants.
The main advantages of cryptocurrencies are:
- Reliability. Encryption algorithms, blockchain, and computing power make it difficult to hack or tamper with money data.
- Open Source. This allows everyone to explore the software, look for bugs, and suggest improvements to the network.
- Limited. The number of issued coins is limited and known in advance. The parameter can only be changed with the consent of the majority of users in the network.
- Cross-border payments. No more need to use banks or expensive intermediaries to transfer money to other countries.
- Control over funds. If a bank goes bankrupt, no one guarantees the safety of the funds or the possibility of their return. The cryptocurrency holder is personally responsible for the digital money.
- Earnings Opportunity. The popularity and development of the new technology allows you to get more profits from investments compared to traditional tools.
How cryptocurrency differs from conventional (fait) money?
Fiat money is used by people to pay for goods and services in everyday life. It can be funds on a bank card, banknotes or coins. In other words, fiat money is issued by the government, which sets its value and guarantees its value. Confidence in the money is reinforced by the number of sales and purchases and the payment of taxes in the state currency.
Note: Fiat currencies are not backed by anything other than people's trust. There are currently no standards for using gold or other precious metals to back the value of money. The exchange rate of fiat money depends on the government's policies and the economic situation of the country. If necessary, the government can print an unlimited amount of money and put it into circulation. This increases the rate of inflation and reduces the confidence in money.
Cryptocurrencies are issued by members of the network. The maximum number of coins is known in advance, which indicates the deflationary nature and increase in the value of the asset in the future. New coins are issued by miners - they process transactions and mine new blocks, for which there is a reward. While the value of digital coins is not backed by anything, it is directly dependent on the level of demand. The more people are interested in cryptocurrencies and start using them, the higher the price. The market is self-regulating.
Synopsis: One of the key differences between fiat money and cryptocurrencies is the impossibility of undoing a transaction. In the case of an erroneous transaction to someone else's bank account, there is a refund procedure. There is no such possibility with cryptocurrencies.
Choose your method of earning and invest in the promising Qtum cryptocurrency today!