Nothing in this world is perfect. Any system has some rough edges, no matter how innovative and progressive it is. And unfortunately blockchain is not an exception. It's possible to talk for a long time about...
Nothing in this world is perfect. Any system has some rough edges, no matter how innovative and progressive it is. And unfortunately blockchain is not an exception. It's possible to talk for a long time about the advantages of this technology, and there are indeed many of them, but some shortcomings and inconveniences are still being encountered from time to time and it is difficult to deny this. As an example, one can cite the confusion of this area: for a simple man, blockchain is represented by some strange beast from ancient myths, it is beyond the power of an ordinary clerk or a manual worker to understand it.
Does this mean that humanity should now humbly give up, accepting the existing inconveniences of blockchain as a given? Of course not, such arguments are dangerous and lead only to decay. If our ancestors thought this way we would still live in the stone age. Fortunately, ambitious people have always moved civilization forward and made our lives more comfortable, safer, and happier. Surely the Singaporean developers of Qtum agree with me because they have created a project designed to solve the problems inherent in the crypto-industry.
This project is unique. As far as its internal system is concerned, its architecture combines the Bitcoin Core fork, the Ethereum virtual engine, and a consensus protocol with proof of stake. In other words, this open-source cryptocurrency has taken the best from Bitcoin and Etherium. The platform combines both the reliability of the Bitcoin blockchain system and the flexibility and practicality of smart contracts that were previously limited to the Ethereum blockchain. The hybrid Qtum chain opens up new opportunities for fast and secure transactions.
In addition, developers can easily transfer projects from the Ethereum and Bitcoin blocks to their system, which helps to maintain network compatibility.
The main goal of Qtum is to create a stable base for companies based on blockchain communications. Like the Ethereum network, it is aimed at creating a platform on which other companies can launch their unique projects and applications. Developers have the possibility of tremendous flexibility and freedom of thought because the platform is easily adaptable to business and is ideal for a number of industries.
Qtum allows companies to develop decentralized applications. By storing the information about the transactions of each user in the system, we can exclude the possibility of cheating because it will be impossible to forge data. This is much more reliable than storing information on servers.
Smart contracts are rightly called the contracts of the future. They are computer algorithms designed to enter into and maintain self-executing contracts. This system starts to work automatically under certain requirements. Qtum allows its users to easily create similar contracts and apply them to achieve their goals.
The developers of Qtum have kept pace with the times. Knowing that almost half of all internet traffic at the moment is generated by smartphones, they created a simple application which is understandable even for a child and is able to manage projects from anywhere in the world.
How to mine
Qtum works on the proof-of-stake a href="https://cryptonet.biz/proof-of-work-i-proof-of-stake-v-chem-otlichiya-i-chto-luchshe-pri-majninge/">protocol, in which the main importance is not the computing power of the equipment for mining, but the number of coins on the balance sheet.
One of the features of the system is randomness. The developers have stated that each token represents something like a lottery ticket, thanks to which the owner has the opportunity to hit the jackpot, while even a very large number of coins in a wallet does not guarantee that you willhave to confirm transactions.
All of these measures are required to prevent the monopolization of the sphere.
To start mining Qtum you will need to:
- Install the wallet.
- Send coins to it.
- Wait for the discovery of 500 blocks.
- Wait for the calculation of profits.
The market capitalization of the coin is $362,906,422. The rate for August 23rd was $4.10.
The benefits of Qtum:
- It has a good development team, whose members include such people as Anthony Diiorio (co-founder of Ethereum), CEO of OKCoin Star Xu, and the creator of Bitcoin.com Roger Ver.
- Openness to business.
- High level of process automation.
- Possibility of use on mobile devicess.
- The speed of making corrections (thanks to the DGP protocol).
- Qtum is a hybrid cryptocurrency that has all of the pluses of Bitcoin and Etherium and elegantly combines them. Therefore, Qtum does not yet have competitors in technical terms.
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