Review on Qtum by MINH LE

Name: Qtum
Item: Qtum
Rating: 5

September 15, 2018

Qtum implements the advantages of Bitcoin and Ethereum in order to build a…

Qtum implements the advantages of Bitcoin and Ethereum in order to build a hybrid, industry-oriented decentralized applications platform. Its main goal is throw a bridge between the blockchain world and the real world. As of August 2018, more than 50 decentralized applications have been built on the platform. Qtum believes that its team is one of its key advantages over similar blockchain projects. It states that it currently has over 150 developers contributing to the project and over 2.5 million coin holders.
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Pros

Qtum is a blockchain protocol that combines the Ethereum Virtual Machine (EVM)—which is used for decentralized application development—with a fork of the bitcoin core chain. The company achieves this hybridization via a third layer called the “Account Abstract Layer” which bridges the divide between the two technologies.

Cons

Qtum is built as a three-layer chain that incorporates the Ethereum Virtual Machine, a fork of the bitcoin core chain, and the company’s proprietary Account Abstraction Layer. The Qtum protocol uses EVM as a foundation for dApp development, taking advantage of the technology’s Proof of Stake consensus to remove the need for constant mining and reducing the resource needs for verifying transactions. This also removes the necessity to mine coins as all coins available on the blockchain are created at genesis.