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What is QTUM?
The Qtum Blockchain (“Qtum”) is committed to developing an open source ecosystem for the blockchain community different from that of Bitcoin and Ethereum. It utilizes a Value Transfer Protocol (“VTP”) to achieve the transferring of value from peer to peer and to build up a decentralized application platform, which brings blockchain technology into the financial services, Internet of Things (“IoT”), supply chain management, social media, gaming and other industries. Innovative technology, comprehensive governance structure, and board applications give Qtum advantages over Bitcoin and Ethereum as a public blockchain.
- From a technical point of view, the highly qualified Qtum development team brings in the technology of identity, Oracle and Data feeds and is committed to achieving the first IPoS (“Incentive Proof-of-Stake”) Smart Contract platform, which is compatible with Bitcoin Improvement Proposals (BIPs based on UTXO model). In terms of compliance, Qtum meets the regulatory requirements from different industries.
- In terms of governance, Qtum established the Qtum Blockchain Foundation (“Foundation”), which is committed to develop the Qtum Blockchain, to advocate governance transparency, and to promote safety and harmony of the open source ecosystem. In order to ensure the sustainability, management effectiveness, and fund-raising security of the project in the open source community, the Foundation uses a governance model that considers the various dimensions of the project, including code management, financial management, public relations management, and other dimensions to operate and to deal with general affairs and privileged operations.
- Regarding the applications built on Qtum, they bring in the off-chain factors that are used in Decentralized Applications (“DApp”) and Smart Contracts to connect the real world business logic with the blockchain world. By supporting multiple industries and methods, the applications will follow the Go Mobile strategy. In Qtum’s open environment, we not only support and promote the Go Mobile strategy ，but also provide mobile services with third-party developers, including mobile wallets, mobile DApp store, mobile smart contract applications, etc. In addition, we encourage third-party developers to join us and help develop mobile blockchain services for Internet users.
The Qtum Blockchain, as the most promising Blockchain ecosystem, perfectly combines the advantages of Bitcoin and Ethereum and addresses the inherent problems of existing blockchain systems. It will continue to develop and iterate through the foundation of the platform, as well as through the products and practical business implementations. A new kind of economy mode will be formed by the Blockchain Economy to significantly enhance the efficiency of the industries, as well as society as a whole.
Initial Qtum token allocation
The total supply of Qtum token is 100,000,000. 80% of the tokens will be eventually allocated the community; the remaining 20% will be allocated to the foundation initiator, early backers, and the development team.
See more details: Official Website