Whether you have heard of Qtum or you have just picked up news about this fast-growing digital coin, Qtum was up till the recent events in December 2017, just another struggling cryptocurrency, although more significant and more valuable concerning monetary value than the usual “strugglers.”
With 66.76$ per one unit, Qtum is getting closer to becoming one of the big coins, getting more and more attention from investors and getting additional value increase. But how come Qtum got out of the shadows as quickly, and more importantly what is the reason behind this success?
Everything You Should Know about Qtum
Now also known as Quantum, this digital coin is based in China and represents Chinese blockchain company that can be described as something in between Ethereum and Bitcoin. While Qtum works similarly as Ethereum when it comes to the way this digital coin is operating, Qtum can execute smart contracts just like Ethereum. Also, just like Ethereum, this digital currency has the ability of quickly developing, distributing and allowing users to operate business apps. While Ethereum can distribute favorite games like Crypto Kitties, this digital currency is more focused on producing and distributing business applications and programs that are compatible with other blockchain ecosystems, so Qtum is focused on the decentralized community with the primary focus on business and secure transactions.
Speaking of smooth transactions, Qtum also operates similarly to the way Bitcoin does. Qtum, or Quantum, uses UTXO transactions that are more easily utilized and used for business purposes, so this digital currency is promoting light and easily manageable way of transactions with proof of steak technology while also supporting easily manageable business ventures and smart contracts. It seems that Qtum creators and developers focused on taking the best out of every blockchain model, so they could come up with an incredibly functional coin that works exceptionally well for business purposes given that its mechanism is adapted to fit secure and straightforward business models that make transactions and making contracts very simple and straightforward.
What caught the general attention and made the majority of cryptocurrency enthusiasts and investors interested in Qtum is the fact that this digital coin experienced massive success with value increase that occurred during mid-December of 2017. By then Qtum was humbly growing, getting an additional increase that altogether wasn’t as fascinating as 189% increase this digital coin reached on December 17th, 2017.
By then, Qtum’s price per one coin was somewhere around 29.67$, but after a nearly 200% rise, this cryptocurrency jumped up to 56.06$ in only 8 hours.
By the end of 2017, Qtum experienced a slight decrease along with the majority of coins that have previously undergone value increase, and its value was marked at 50.78$ per one unit, which was still an impressive price for Qtum. Where we had this coin dealing at two times higher rate than just a month before, getting the general attention of digital coin investors and holders.
Where is Qtum Now?
Many investors and digital currency enthusiasts predicted that there will be an additional and massive increase in value over the course of the current year of 2018, and it seems that Qtum is already living up to expectations investors are holding. In only a couple of days, at the same time the first couple of days of the year 2018, Qtum had experienced several increases with the last increase in value going up to 3.87%, which brought Qtum a favorable price of 66.76$.
The current market cap goes to 4.9 billion dollars with 73.7 million QTUM coins in circulation. If things continue to go in favor of Qtum as up till now, this digital currency might soon become a very serious investment which can be quickly concluded based on the recent value increase that is benevolently continuing.
At this very moment, Qtum has declared partnership with Baofeng, the most prominent Chinese video portal. This partnership should lead to creating the most significant decentralized blockchain platform ever built, which should help Qtum achieve even the higher price per one unit, at the same time potentially making this token bigger than Bitcoin and Ethereum.
Qtum and Baofeng are planning on building a decentralized platform containing 50.000 nodes. Bitcoin is currently dealing with 10.000 nodes, while Ethereum is running on 20.000 nodes. In case Baofeng and Qtum achieve their goal of making Blockchain Consensus Network that would be contained of 50.000 nodes, this currency would become more substantial than the most significant coins on the market.
Given the fact that Qtum was made of best parts of the most popular digital currencies, no wonder that investors have noticed this digital coin. This case is also positively affecting the market demand as Qtum is getting in popularity, so it is no surprise that Qtum is growing so fast.
As a great addition to more nodes and building the biggest mainstream blockchain platform, Baofeng will also introduce the public to new ways of video distribution, payment systems, and rights protection.
Soon, Qtum partnered with Baofeng could potentially lead to introducing more innovative technologies that way also contributing to the general development of blockchain based technologies, systems, and values. So, if you have invested in Qtum while this digital coin wasn’t in the center of attention, you are potentially holding a “small” fortune. If other currencies start following up with Qtum, we are looking at a fascinating year for digital currencies and cryptocurrency market.
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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 coinmarketcap.com
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