About Qtum

Qtum Coin Review: Mining Guide, Price & Analysis of Qtum Cryptocurrency

Qtum is a project that has been around for a while and emerging from China; for the past three years, it has gained urgent prerequisite experience to ensure successful transactions. Its original intention was as an Ethereum killer, and this has seen this blockchain experience its fair share of ups and downs.

Due to an increase in demand for such blockchain in China, many people have opted for such. In this review, you are bound to some in-depth analyses. This mainly covers on the fibres managing operation of the matrices of this blockchain.

What is Qtum?

Qtum (pronounced as "quantum" )is among the prime blockchains that got introduced to the market gap in 2016. It was projected to the Bitcoin fork that heavily employs Ethereum's Virtual Machine (EVM). Consequently, the blockchain bridges the gap between Ethereum and Bitcoin by applying a third layer that has undergone Qtum developers nomenclature, thus eventually attaining a title; Account Abstract Layer. Qtum possesses a tri-layered meant to streamline service delivery.

Qtum Chain Foundation

It rests as a non-profit organization registered in Singapore that was debut in 2016. This foundation aims for executive, progression, and monitoring privileges of open source community projects.  Consequently, This is achieved via the development of sound governments. The commitment is to developing and structuring of the Qtum blockchain. Moreover, promotion and advocacy of authority administration's transparency in order to create a harmonious ambience.

The structural design of the governments of Qtum Chain Foundation intended to consider the self-preservation of open-source communal projects, the work done by managerial structure, and security of finances accrued.

Qtum wallet

In order to ensure maximum fiscal security, one needs installation of a particular Qtum wallet. The best with this form of the wallet is that it allotropes into versions compatible with the computer or mobile devices. If odds favour PC downloading, there is the generation of a private key. However, if one intends to use the phone, there's the generation of a QR code which prompts for scanning.

Once one has totally abided by the above prompts, one is ready to transact globally. The most enticing bit is that the maximum amount of time on the waiting bay: is not more than two minutes.

Smart contracts

Smart contracts was a mind-blowing innovation that rippled the blockchains ecosystem. This was a major improvement aimed at advancing cryptocurrency networks globally. This seems to be the future of contracts. Custom designed for developers, users can transact among more than two accounts, adherence to blockchain's requirement.

A developer is allowed to ornament from Smart scratch contracts quickly for free. The best part is that one does not require to have prior knowledge of new-incoming programming languages since Qtum does a rough form of all these elements.

How can I mine Qtum?

One of the means of acquisition of the coin is via the mining process. In this case, mining means securing the Qtum network while simultaneously multiplying the overall supply of Qtum in the network. As hinted at earlier, Qtum applies the PoS consensus mechanism.

This is a clear implication that one can only mine via staking. The best part is that one requires no special and costly mining software such as ASICs no does one require large quantities of energy. Qtum PoS mining is subtle to the environment, and due to basing on the principle of random selection, more individuals are enticed to stake.

To enable staking, one needs to have stored Qtum crypto in the address block. However, one needs to have done more than 500 blocks; an approximate of 17 hours. Next, they should run software containing full nodes on a computer connected to the Qtum network on 24/7 bases.

Due to heavy reliance on the principle of random selection, PoS assimilates winning a lottery. The interesting bit is that possession o large stakes increase the odds of one's selection in each validation.

Consequently, the higher the stake, the higher the chances of block validation. Hence, an increase in amassing of Qtum PoS reward. Momentarily, annual ROIs stand at 4.43%

Where to buy the Coin

The coin lies among the top 40 cryptocurrencies according to CoinMarket Cap data and statistics. Due to his clout, it is currently cumbersome for one to purchase the coin. On the other hand, many online crypto exchanges are selling. However, let's dive how to buy Qtum cryptocurrency. Made available are multiple ways of purchase-including;

Buy Qtum via credit/ debit cards or normal bank transfers.

Buy Qtum via exchanges like poloniex which offers other currencies like cryptocurrencies such as Ethereum and Bitcoin.

If one intends to buy the token via cards and bank transfers, it is easy to purchase via fiat currency; however, the problem kicks in due to insufficiency due to scarcity of exchanges that aid provision of such.

However, for those that allow, one is issued with a linked crypto wallet. In this wallet, one can deposit fiat currency that will be utilized in the purchase of Qtum. Some even go as far as allowing direct purchase straight from your bank account or card. Some of the exchanges that allow for purchase and exchange of cryptocurrencies are; Change Now, Bitfinex, Livecoin and Binance.

Recommended wallets for Qtum

After purchase, safe storage is mandatory. Some couple of years ago, people used to abandon their cryptocurrencies in the bearing exchanges. Nowadays, the application of Qtum wallets to store Qtum coins is a mandatory requirement.

Some of the recommended ones include; the Ledger Nano/ Blue Models for users who prefer offline storage of coins, away from maliciously, prying eyes. Qtum Core( Mobile and desktop wallet) boasts of being the official online wallet for Qtum.

This wallet is recommended for beginners or those who don't have the fiscal capacity to afford Ledger Nano S wallet. Another wallet on the list is the Qtum Electrum which is downloadable from Qtum official website. The Qtum Electrum comes in versions compatible with Windows and Mac operating systems.

Our take on Qtum

As the coin has proven to match up to its standards; of becoming the next Ethereum killer, but not as formerly intended. However, with all the new technology and software developments, it has managed to bridge the gap by combining Bitcoin's value transfer capabilities with Ethereum's smart contract App. Also, it has been in the market cap for quite some while and seems to have established a solid foundation.

Therefore, it is worth a shot. Since its difficulty of acquisition is incredibly increasing, there seems to come to a particular point when Qtum coin might encounter a giant leap into the top ten. However, there are two sides of a coin, and for this, we take a snap look at the pros and cons of the coin.

Advantages

• Operation in a decentralized manner
• Enhancement of block Chain's security
• Possibility of the purchase at lower costs, and appreciated prices lead to profitable sales later on.

Disadvantages

• Due to it not being in the market for long, it is yet to attain maximal acceptance as a form of payment by some merchants.
• A scarcity of price history data due to its crypto-age

Final verdict

Summing it all up, to any prospective investor aiming at investing in Qtum, the green light granted. Being in its young ages is till an opening for one to make up their minds on whether to invest in Qtum or not.