Qtum (QTUM)

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Smart Contracts and Decentralized Applications

Qtum allows developers to build and run smart contracts and decentralized apps (dapps) by combining Bitcoin’s secure transaction model with Ethereum’s flexible smart contract capabilities.

Transaction Fee Payment

Qtum supports a unique feature where a third party can pay the transaction fees on behalf of the user, making it easier for users to interact with blockchain apps without needing to hold Qtum tokens themselves.

Enterprise and Business Use Cases

Qtum targets businesses by providing tools and tested smart contract templates for industries like supply chain management, telecommunications, and IoT, helping companies automate processes and reduce costs.

Decentralized Finance (DeFi)

Qtum’s platform supports DeFi applications such as lending, borrowing, and other financial services in a secure and efficient blockchain environment.

Staking and Network Operation

Qtum uses a Proof-of-Stake consensus mechanism, allowing holders to stake their tokens to help secure the network and earn rewards.

Cross-Chain Compatibility

Qtum’s Account Abstraction Layer enables it to support multiple virtual machines, including the Ethereum Virtual Machine (EVM), making it easier to port Ethereum apps to Qtum’s blockchain.

Pros

• Combines Bitcoin’s secure UTXO transaction model with Ethereum’s smart contract capabilities, offering both security and flexibility.
• Uses an energy-efficient Proof of Stake 3.0 consensus, allowing users to stake smaller amounts and earn rewards by keeping nodes online.
• Supports multiple Ethereum token standards (ERC-20, ERC-721, etc.), making it easy for developers to adopt.
• Fast transaction times and low gas fees compared to some other blockchains.
• Decentralized governance with over 2000 nodes, enhancing network security and decentralization.
• Backed by experienced team and partnerships with major blockchain and business companies.

Cons

• Relatively low adoption compared to bigger platforms like Ethereum.
• Depends on Bitcoin and Ethereum technologies, which can limit some innovations.
• Faces strong competition from other smart contract platforms.
• The Ethereum Virtual Machine (EVM) and Solidity language still have some limitations and security concerns.
• Infinite incremental scalability model may affect long-term value stability.

For more details, visit the official website: qtum.org

Founders of Qtum

The founders of Qtum are Patrick Dai, Jordan Earls, and Neil Mahi. They started the project in 2016. Patrick Dai previously worked with Alibaba and served as CTO of VeChain. Neil Mahi has over 20 years of software development experience. Jordan Earls is also a skilled software developer. Together, they created Qtum to combine the best features of Bitcoin and Ethereum.

Key Investors in Qtum

• Angel Investors: Early supporters include notable figures like Bitcoin.com's Roger Ver and Jeremy Gardner, co-founder of Augur.
• Venture Capital Firms: Qtum attracted investments from blockchain-focused venture capital groups during its initial funding rounds.
• Institutional Investors: Some institutional investors and funds interested in blockchain and smart contract platforms have backed Qtum.
• Defiance ETFs: The Defiance Quantum ETF (ticker: QTUM) holds Qtum as part of its portfolio, representing a collective investment in quantum computing and related technologies.

These investors helped Qtum grow by providing capital and support during its development phases.

Halal Status of Qtum

Yes, Qtum is considered halal. This is because its core technology and use cases involve legitimate blockchain infrastructure development, transaction fees, staking, and governance, which comply with halal principles. The platform uses a Proof-of-Stake consensus mechanism and focuses on providing enterprise blockchain solutions without involving prohibited activities.