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Here’s How Qtum (QTUM) Can Hit $1,000

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Here's why QTUM is running

Qtum (QTUM) ran from $12 a piece during the middle of last week to more than $72 during the session yesterday, a gain of more than 500% across what amounts to little more than a week. The company behind the coin is garnering a lot of attention on the back of this rise and picked up coverage across a number of major news media outlets, including here at Forbes.

While many outlets are talking about the price rise and where QTUM currently stands in relation to some of the other major cryptocurrencies in the space, very few are discussing the fundamentals that underpin Qtum and, in turn, serving up any reasoning that explains the action we are seeing.

So, in the absence of this approach, let’s fill in the gaps.

Let’s start with this: Qtum is a decentralized blockchain application platform. What does this mean? It means that the technology is a platform built using blockchain as a base that serves as a layer through which individual developers can build applications using and manipulating the underlying blockchain.

QTUM Daily Chart

QTUM Daily Chart

There are a number of these sort of blockchain application platforms in development right now, one example (and one that many see as a major competitor to Qtum) being NEO, but Qtum stands out in a couple of key ways.

First, the blockchain technology that underpins the application platform is the bitcoin blockchain. Qtum then combines this with what’s called a virtual machine (VM), which is the layer that allows for the execution of smart contracts and, in turn, the creation and development of decentralized applications. What’s interesting here, however, is that the VM that Qtum uses is the Ethereum VM (EVM). Normally this would be possible (integration of the EVM with the bitcoin blockchain) but the team at Qtum has found a way to make it possible has called this method its Account Abstraction Layer (AAL).

Essentially, then, it allows for the security and stability of the bitcoin blockchain but with the adaptability of the Ethereum small contract system. It’s a sort of dream team of interoperability.

But the benefits don’t stop there.

Because of the above mentioned AAL, QTUM isn’t limited to the EVM. A different VM can be developed and laid on top of the bitcoin blockchain and – right now – this company is doing exactly that. The team is building an x86 VM that will allow smart contracts programming in 32-bit languages like C, C++, C#, and Java.

This is incredibly important because, for the first time, developers unfamiliar with the standard programming languages associated with blockchain development will be able to harness the power of blockchain (and bitcoin’s blockchain no less) and smart contract technology without having to learn a new language.

In other words, what this company is doing will mean that this space is opened up to millions of programmers practically overnight.

So that’s why markets are getting excited about this company right now. The x86 VM is expected to launch during early 2018 and, when it does, we are going to see a huge amount of development take place on the platform. QTUM is the token that fuels system operational activity (in a similar way to the way in which Ether interacts with Ethereum) and, as such, as this wave of development flows towards the platform, we are going to see a huge increase in demand for QTUM as a token.

As far as a justifiable bull thesis on a token is concerned, there aren’t many out there as satisfying and as logical as that which exists for QTUM right now.

Of course, these are new technologies and we may see some degree of fallout if things don’t go smoothly on deployment but, even with this taken into consideration, and from a reward perspective, this is very much one to watch.

 

We will be updating our subscribers as soon as we know more. For the latest on QTUM, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.


Image courtesy of Qtum.

 

Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful trading…

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Bitcoin

Wisebitcoin Launches Professional-Grade Crypto Exchange

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Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

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