Thursday, April 15, 2021
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What is QTUM (QTUM)?

QTUM is a Singapore based Ethereum competitor aimed at businesses. Built from the Bitcoin core code with a secondary layer which allows it to use Virtual Machines including the Ethereum Virtual Machine (These allow the use of Smart Contracts and Dapps). It aims to bridge the security of Bitcoin with the limitless use cases of Ethereum.

Consensus Method PoS

Intended Uses Business smart contract solutions

Risks 

  • CEO received negative press from his time at Bitbay a few years ago
  • Yet to be seen how their approach of layering Virtual Machines on top of the Bitcoin blockchain technology will work.

Advantages

  • Based in Singapore which has so far been very encouraging about blockchain technology
  • Positioned to target both western and eastern markets
  • Not in direct competition with Ethereum or NEO. Can coexist.
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