Review on Qtum by francis fernandez
Qtum-mixed platform for large organizations!
Qtum is a platform created in Singapore but with a view to becoming a platform for universal use; spreading to other continents with major projects under development.
Qtum is the result of a modification of the Bitcoin core abstraction layer, which makes possible the simultaneous existence of multiple virtual machines, among them Proof of Stake and Ethereum.
The mission of the Qtum developers is to create a cryptocurrency that brings together the virtues of Bitcoin with the best of the Ethereum network.
In this way, the smart contract technology implemented by Ethereum and Bitcoin inherits its level of security.
Hence, Qtum is considered an open source mixed platform, which uses blockchain technology to create decentralized applications.
What benefits does Qtum offer us?
* Qtum uses the UTXO protocol in the blockchain of its smart contracts. Thanks to this protocol, an accounting system is created that shows only available currencies, avoiding the risk of double spending and spending cryptocurrencies that do not exist. In this validation mechanism the algorithm called Proof of Stake intervenes, responsible for the scalability and security of the blockchain.
* Another of its main characteristic is that it can be used by large merchants since its ecosystem allows a large number of operations to be carried out quickly and reliably.
* You can interact with the two most popular and trusted networks in the crypto market: Bitcoin and Ethereum. Using Ethereum's digital equipment ensures that ETH and Qtum contracts run simultaneously on both networks.
* Its protocol is compatible with Segwit; This facilitates storage in side blockchains; to decongest the load on the main chain.
All these advantages put Qtum in a privileged position and of preference for large organizations and industries; facilitating the development of smart contracts on pre-existing blockchain technology. Hence, its purpose is to become a purely commercial platform.
Pros
- It is a tool that enables large companies to quickly carry out a large number of transactions in the shortest time.
- Its technology based on intelligence contracts makes it possible to comply with the established without delays or deviations.
- It is designed with the UTXO protocol that ensures a reasonable level of security in your transactions.
Cons
- The transaction fees on this platform could be moderately expensive.
