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#QTUM - Blockchain Done Right.

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#QTUM - Blockchain Done Right.

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Created 5days ago, last updated 4days ago
2 min read
#QTUM - Blockchain Done Right.

Table of Contents

[NEW Binance User ONLY]

  • Register here (limited to first 2,535 new binance user registrations)
  • Period: 22 June 00.00 UTC - 29  June 23.59 UTC 2022

What Is Qtum? - Stable, Proven, Green.

Qtum (pronounced Quantum) was founded in 2016 by Ashley Houston, Neil Mahl, Patrick Dai, and Miguel Palencia. The project ran an ICO (Initial Coin Offering) in 2017, raising $15.6 million before launching its mainnet in September of that year. The Qtum network's primary concept is to combine aspects of Ethereum (ETH) and Bitcoin's (BTC) networks. The team has taken Bitcoin's unspent transaction output (UTXO) model and combined it with Ethereum's smart contract capabilities while leveraging the upstream benefits of both chains.

How does Qtum work?

There are four significant aspects to the Qtum network:

  1. A UTXO model for accounting.
  2. A Solidity smart contract platform.
  3. An Account Abstraction Layer.
  4. A Proof of Stake consensus mechanism.

To create this mix, Qtum has used a modified Bitcoin Core client software to complete the transaction base of their network. The network is also Ethereum Virtual Machine (EVM) compatible and uses Solidity as its coding language. This means you can easily port code and DeFi (Decentralized Finance) projects from Ethereum onto Qtum. Also, its custom Proof of Stake (PoS) consensus mechanism has been made to target critical security issues.

Where can I buy QTUM?

Binance offers two ways to purchase QTUM. First of all, you can buy QTUM with a credit or debit card in selected fiat currencies. Visit Binance's [Buy Crypto with Debit/Credit Card] page, choose the currency you want to pay in, and select QTUM in the lower field. Click [Continue] to confirm your purchase's details and follow the further instructions.
You can also trade a selection of cryptocurrencies for QTUM, including BUSD, BTC, and ETH. Navigate to Binance's Exchange view and type QTUM in the trading pair search field. This will display all the available trading pairs. For more information on using the Exchange view, visit our How to Use TradingView on the Binance Website guide.

Conclusion

As a solution, the Qtum blockchain is unique. It removes the problems seen with Proof of Work (PoW) by implementing a PoS system with upgrades. It allows for smart contracts and Decentralized Applications (DApps) while also using UTXO accounting. While many blockchain platforms in the ecosystem develop brand new methods, Qtum has taken successful functionality from previous ones. So, if you've been considering Qtum as an altcoin, you now can make a more informed decision based on its use cases.

Learn more click here.

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Note: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. You are solely responsible for your trading losses. Binance strives to partner with high-quality projects, however, it should not be taken as financial advice. Please do your own research before making any trades.

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