Qtum

Qtum is a decentralized, open-source platform for smart contracts and value transfer protocol. Leveraging proof-of-stake consensus, node operators receive rewards for transaction validation. This DGP-governed blockchain enables community participants to vote on network parameter changes. Built on a Bitcoin core fork, Qtum's foundation has developed its hybrid blockchain using several key tools. The use of Bitcoin's chain facilitates easier building due to its simplicity and stability.

The Team Behind Qtum

The team behind the QTUM project includes members from both the Bitcoin and Ethereum communities, along with former employees of Tencent, Alibaba, and Nasdaq. Notable figures in the Blockchain community such as Patrick Dai (Project Co-Founder), Neil Mahi (Chief Blockchain Architect/Co-Founder) and Jordan Earls (Lead Developer/Co-Founder) back this project.

Functionality of Qtum

Offering a Turing-complete blockchain stack, Qtum can execute smart contracts and decentralized applications akin to the Ethereum blockchain. It employs Bitcoin's UTXO transaction model alongside the Proof-of-Stake algorithm. High-profile members of the blockchain community like Anthony Di Iorio, Xu Star, Bo Shen, David Lee, Jehan Chu and Roger Ver support it.

Funding Success of Qtum

In just 90 minutes following its launch, Qtum sold over $10 million worth of tokens. The campaign was halted after only 5 days with a total raise of $15.7 million. A total amount of 11,156.766 bitcoins (BTC) and 77,081.031 ether (ETH) were exchanged for 51 million Qtum tokens distributed to the public during this period.

According to their whitepaper distribution plan: 51% coins were released through public crowdfunding; 29% were set aside as community incentives; and the remaining 20% were distributed among early backers and the development team.

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