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What is QTUM and why it has grown 189% in few hours?

Dec 20, 2017 Posted /  3650 Views

What is QTUM and why it has grown 189% in few hours?

The current price of QTUM is standing at $75, which means that the value of this open source Blockchain project has quadrupled in the last seven days after remaining at $12 for a long period, the value of QTUM elevated to $75.

The resultant growth in the current period may depend on the inflow of Bitcoin into select altcoins, which was essentially less priced for a good period of time. As Bitcoin prices have reached an all time high, other digital assets are also gathering attention, and there is a greater possibility for more rapid growth in coming time. According to the latest data provided for the top 20 assets as well as some additional sub assets, it can be concluded that they are moving forward in search for "the new Bitcoin".

QTUM is fascinating everyone as an "ecosystem token", a comparable to Stellar and WAVES, possessing a proprietary blockchain, developed on the Bitcoin protocol. QTUM is setting up to allow substantial business oriented distributed applications, along with admitting a secure proof-of-stake network. QTUM is based on the Ethereum’s ability model and can be considered as the next-generation hybrid blockchain application platform.

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Nonetheless, until lately, QTUM was staggering behind NEO, which had a better and more well-known community profile. However, QTUM was wedged up to reach the equivalent price range. At present, QTUM can be sequenced as the next trustworthy Chinese blockchain project.

Right now QTUM is viewed as a hot investment asset in Korea, trading at a premium of more than $70 on many exchanges. The coin is virtually unpretentious and not weakened by the US market scenario, which is why it can be identified for an autonomous rise and resting high prices in comparison to Bitcoin.

On the other hand, all the other altcoins are appearing to be profiting together, however, some of the assets have a distinctive investor base and unmatched rationales in favour of the independent inflow of US dollars. What is to be remembered here is that QTUM remained flat for about two months prior to unexpectedly elevating.

What is QTUM?

QTUM is Chinese Blockchain Company whose protocol shares Ethereum’s aptitude to carry out smart contracts. Nevertheless, this blockchian project is developed upon Bitcoin’s well-entrenched UTXO transaction model and utilizes a proof-of-stake (POS) consensus mechanism, which can be considered as a more pragmatic approach for adoption in business.

The stress on business adoption is acquired from the Qtum's motive of creating a service model that can bridge the gap between blockchain networks and businesses. A thing to consider over here is that if on one hand, Ethereum's decentralized app (dapp) ecosystem may have helped in developing a popular games like CryptoKitties, on the other, Qtum's ecosystem is designed to cultivate lightweight, effectual commerce applications which will be compatible with other prime blockchains. These comprise paraphernalia to regulate the work ecosystem of business smart contract development and a focal point of tested and established smart contract templates, concentrating on various specialized business use cases.

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Tags: QTUM Chinese Blockchain Company Chinese Blockchain Company hybrid blockchain blockchain application

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