Review on Qtum by Quan Lam Chan

Name: Qtum
Item: Qtum
Rating: 4

September 15, 2018

QTUM is a Singapore based blockchain solution that looks to help businesses…

QTUM is a Singapore based blockchain solution that looks to help businesses create smart contracts. Although the technology has been around for a few years, it’s not easy for just about anyone to create a secure smart contract in a small time. QTUM wants to provide plug-and-play smart contract solutions sand gives templates to businesses to choose from. This helps them create a smart contract and improve the functioning of their business.
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Pros

Uses EVM so using smart contracts is quite simple Uses Proof of Stake for consensus, so there’s no chance of concentration of power in the hands of a few miners or mining pools Uses UTXO method for transactions which makes for quicker verification Using both EVM and Bitcoin blockchain allows QTUM to use the updates on either to improve itself

Cons

Co-founder Patrick Dai is accused of defrauding 200 BTC The UTXO model is not easy to use with smart contracts and puts limitations which is why Ethereum decided against using it