1 Level
12 Review
9 Karma
Review on Qtum by Nguyen cuong
Qtum is a Chinese blockchain company whose protocol shares Ethereum's ability…
Qtum is a Chinese blockchain company whose protocol shares Ethereum's ability to execute smart contracts, but is “built upon Bitcoin's well-established UTXO transaction model and employs a proof-of-stake consensus mechanism that is more practical for business adoption.
Pros
- Qtum utilizes a native multisig wallet which is proven to be secure. Qtum is finishing up the X86 VM, allowing multiple programming languages. Fully decentralized. Up to 1000TPS + soon Ethereum virtual machine is used, so Ethereum contracts will be possible to run on Quantum with some minor adjustments. Proof of stake, so no mining blocks. No masternodes as well. Anyone with any amount of coins will be able to run a node, create a new block in the blockchain and get block reward.
Cons
- Report pointing at some issues with UTXO model, and warns that Smart Contracts build on this model has some serious limitations. Ethereum platform refused to use UTXO model. Very shady past of Qtum founder Patrick Dai, who was involved in the BitBay project, previously under the different name Steven Dai and allegedely stole 200BTC
