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Quantum is an open source peer-to-peer cryptocurrency issued and maintained by the Quantum Foundation, distinguished from Bitcoin and other similar cryptocurrencies by its intended user base: businesses.
Quantum is intended to be a business-ready cryptocurrency. It was launched in 2016 and had an Initial Coin Offering in March of 2017. In theory, Quantum has taken what it considers the best features of Bitcoin and Ethereum and moved the blockchain technology forward. Because its design is a derivative of Bitcoin and Ether, Quantum is also backward compatible with Ethereum contracts and Bitcoin gateways and is committed to remaining so as long as updates can occur.
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What is Quantum (QTUM)?
Quantum’s most distinct feature is probably its unique proof-of-stake consensus protocol. A typical protocol achieves consensus through the agreement of computers on the network. But Quantum has built on this and has developed an incentivized proof-of-stake mechanism that will reward participants. As a result, Quantum claims to be the first to bring together smart contracts from Ethereum, transaction models from Bitcoin, and proof-of-stake to maintain their blockchain.
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About Quantum (QTUM)
All of this means that because Quantum can offer smart contracts through mobile devices, transactions can happen in a simple, lightweight format while also allowing QR code-based transfers. Because the smart contracts are built into Quantum’s underlying code, it can easily be translated into human and machine-readable language. This opens Quantum up to a larger potential market and makes for a more powerful network.
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