Everything To Know About QTUM, Its Prospects & Token Purchase

QTUM is a Proof-of-Stake blockchain developed to leverage the upstream benefits of ETH and BTC. It focuses on scalability with a faster, greener, and more stable value transfer protocol. The project unites the salient features of Bitcoin and Ethereum into one chain. The highlight of QTUM is the UTXO transaction model equipped with the functionality of smart contracts and dApps.

Factors That Make QTUM Special

There are quite a few merits that make this project stand out from others.

On-Chain Decentralized Governance: QTUM brings custom-built decentralized governance to the fore. It allows different stakeholders to put across their views on platform functions. They can also alter certain blockchain parameters using smart contracts.

Large Node Network: QTUM boasts of running one of the biggest node networks in the world. Till 2021, it had 1200 nodes working across 60 countries. The number and extent greatly upscales the degree of openness and decentralization of this network. Reportedly, Bitcoin and Ethereum are the other two blockchains with higher node counts.

Thriving DeFi Ecosystem: QTUM hosts a growing community of dApp developers. It has become the platform for the development of many other applications including Qcore and QiSwap.

Inclusive Proof-of-Stake: QTUM’s PoS consensus is highly inclusive as well as inclusive. It facilitates the running of full-node without the requirement of any hardware.

QRC20 Tokens: QTUM has introduced its new smart contract-based QRC20 tokens. These assets support a wide range of applications with novel functionality.

A Peep Into QTUM Mechanism

QTUM deploys Bitcoin’s UTXO transaction model while adding additional layers of scripting abilities. It facilitates the development of decentralized applications while leveraging the rapidly growing dApp ecosystem. Using this platform, developers can create payment toolkits, decentralized games, social networks, search engines, etc. Another defining feature of QTUM is its account abstraction layer (AAL).

It bridges the gap between UTXO-based blockchain and virtual machines. The layer makes use of smart contract capabilities to achieve this functionality. The tailor-made version of the PoS mechanism adds an “offline staking” feature to this unique system. While doing that, it also allows non-custodial address delegation.

Here’s How One Can Buy QTUM

Interested buyers can get QTUM tokens on the Binance App.

Step 1: First of all, the user will have to register themselves on the Binance app using their email and mobile number.

Step 2: After account creation, they can click on the “Buy Crypto” link and choose the option to buy QTUM.

Options for Payment:

Credit card

Debit card

Bank deposit

Third-party payment

Step 3: Users get 1 minute to confirm their order at the current price. After that, the platform recalculates the current market price. They must check payment details before proceeding further.

Step 4: After completing the purchase, the users can check their crypto wallet. They can trade the QTUM tokens for other crypto and stake them on Binance Earn. The latter will give them a chance to earn passive income.

According to some experts, QTUM has what it takes to be a prominent network in the DeFi ecosystem. Focusing on scalability and efficiency, this project does make a difference. However, only time will tell if these factors will contribute to its success or not.

Disclaimer

This article is only for information purposes and does not promote any type of investment, it is strictly suggested to do your research before investing or to consult with investment professionals.

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.