Review on Qtum by Arun Kaul

Name: Qtum
Item: Qtum
Rating: 4

June 17, 2019

Open-sourced blockchain application platform - Qtum

Qtum blockchain is dedicated to developing an open-source ecosystem that will differentiate itself from others that resemble BTC or ETH. With the help of an implemented Value Transfer Protocol (VTP), it aims to build a dApp platform which will bring blockchain technologies to different businesses and sectors like financial services, supply chain management, gaming, social media, and others.
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In March 2017, a crowdfunding campaign was started with the goal to raise money for a new blockchain project launched by Qtum. Originally, it was scheduled to last about 30 days or until all the tokens have been sold, but over 10 million USD was raised within the first 90 minutes. Eventually, the total value of the funds got to $15.7 million and Qtum stopped the campaign on its 5th day.

In September 2017, the main network of the Qtum blockchain was launched and all the ERC20 tokens given out during the ICO were changed to the Qtum coin.
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Qtum is a decentralized peer to peer blockchain network that uses the Proof of Stake consensus mechanism and the SHA-256 hashing algorithm.
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Pros

Qtum can be considered quite advanced in terms of the implemented technology it has. The network uses the Proof of Stake 3.0 consensus method, which allows users with less coins but 24/7 node uptime to get more frequent rewards when compared to other users with larger holdings.
Best of Both Worlds – Qtum implements the best features from the two goliaths of the crypto sphere – Bitcoin and Ethereum
DGP – The Decentralized Governance Protocol gives the ability for the network to quickly vote and implement new features within certain parameters without the need for a fork. It also gives the ability to recover from attacks quickly and efficiently

Cons

The major negative of the Qtum cryptocurrency network is its infinite incremental scalability model. Since minting this coin became available, users will always receive new Qtum coins, which can affect the long-term scalability and stability of its value.
Deficiencies with the EVM – The programming language used for creating smart contracts, called Solidity, is still in its early phases and it is known to have some security faults, which with proper testing can be rectified
Staking with less loss – since Qtum doesn’t have a minimum amount of currency for staking, malicious users can try to confirm improper transactions at a low risk due to the lower necessary investment