The Best Crypto Exchanges to buy and hold Quantum (QTUM)

The Best Exchanges to buy and hold Quantum (QTUM)?

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First appeared in 2017, Quantum (QTUM) is an open source project designed to unify the strengths of Bitcoin and Ethereum into a single blockchain platform. Currently, Quantum is trading at $17.88 per token, with a total issuance of $9830 and a total market cap of $1.75 billion.

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What is Quantum?

While the blockchain and crypto community continue to innovate, Bitcoin ( BTC ) and Ethereum ( ETH ) still dominate the market. However, they are not without weaknesses.

Although Ethereum has a strong ecosystem and innovative technology, it also suffers from a number of distinct security loopholes in the network. Although Bitcoin is more secure in terms of security, its lack of scalability limits its applications beyond a store of value. These shortcomings have led to the creation of controversial additional projects such as Bitcoin Cash ( BCH ).

Quantum (pronounced quantum) is designed to integrate Ethereum technologies such as smart contracts, ERC-20 tokens, and support for decentralized apps, DApps, with the stability of the Bitcoin blockchain. Quantum developers claim that this protocol is a solution to the core problems Bit and Ether are struggling with: low interoperability, high stringency, low scalability, and lack of real-world applicability. To do this, the protocol relies on two unique techniques:

With the Connection Abstraction Layer (AAL), Quantum can create, execute and process smart contracts on top of the modified Bitcoin Unspent Transaction Output (UXTO) layer. This allows you to maintain blockchain performance while hosting DApps on an Ethereum virtual machine or Quantum’s own x86 virtual machine. More importantly, AAL ensures the interoperability of dApps across multiple blockchains.

Decentralized Governance Protocol (DGP) allows modification of core smart contract variables (block size or gas fee ) without a hard fork. In most blockchains, smart contracts cannot be changed after launch. It is well known that Ethereum and Ethereum Classic (ETC) are separated because of these issues. Quantum’s proof-of-stake algorithm improves scalability and allows all owners to participate in governance.

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What will quantum do?

Quantum claims to be the altcoin with the largest PoS peer-to-peer (P2P) network . The total number of global nodes exceeds 1376, the most excluding the Bitcoin and Ethereum networks. This protocol is establishing itself as a “business-friendly smart contract platform” with Susu, offering enterprise-specific solutions like Unita, a fully automated storage/transaction protocol.

Developed to promote enterprise blockchain adoption, Unita enables cross-chain swapping, decentralized storage, and one-click deployment module for more than 10,000 transactions per second. Unita aims to provide an extensible protocol that enterprises can adapt to their needs.

Building on the model of Ethereum’s ERC-20 standard, Quantum also supports the implementation of QRC-20 tokens. These various tokens were created by several developers on the Quantum Blockchain. Of course, there seems to be a small number of tokens with high practicality. Recently, Quantum has started supporting decentralized finance and DeFi apps, so it looks like it could be a better place to use the QRC-20.

At the end of 2020, Qiswap’s decentralized exchange (DEX) will be launched on the Quantum blockchain, accelerating the development of DeFi applications. DEX provides a proprietary liquidity protocol for Quantum and QRC-20 tokens through Automatic Market Maker (AMM) . Dex allows for trading between Quantum, stablecoins such as QCash (QC) , and various pairs . Recently, Chicoin has launched Chitoken to strengthen the governance of holders and rewards for early personnel.

Quantum hasn’t really caught the attention of developers, but a recent protocol has wrapped it around $20 million to further facilitate choice. Quantum is also running a $1 million fund to pay out prizes of $25,000 to $50,000, respectively, to developers who want to build or move DeFi apps on the Quantum blockchain.

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Who invented Quantum?

The Quantum Foundation was founded in 2016 by Patrick Dai, Neil Mahi, and Jordan Earls. Dai studied computer science at Draper University and later dropped out of the Chinese Academy of Sciences to work as a product manager in Alibaba. After that, he started Quantum in 2016 after working on various blockchain projects ( Factcom, VeChain, etc.). He currently serves as president of the foundation.

The Quantum Project has a number of prominent investors. Examples include Roger Ver (Expert Executive at Bitcoin.com), Anthony Di lorio (Co-Founder of Ethereum and Bitcoin Magazine), and Jeremy Gardner (Co-Founder of Augur). However, what is more striking is that institutional investment did not keep up even in a very hot situation.

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Quantum price trend

As with most cryptocurrency markets, Quantum has shown excitement at the start of the year. The token rose from $2.74 on January 22nd to $17.88 on April 22nd, representing an increase of around 521% over the past three months. The token had a boom last month as well , but has been largely stable over the past week. One thing to note is that despite showing strong performance over the past year, Quantum Tokens still have a long way to go compared to their all-time high of $100.22.

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Are Quantum Coins a Good Investment?

Among the reasons for the price increase of Quantum Coin, there are the recent airdrop of Chicoin and the upcoming “Neutron” update, the main reason being the listing on the exchange and the recent favorable market atmosphere.

Quantum is ranked #70 by market cap. According to the Quantum Foundation, the quantity of quantum supply is not strictly set numerically. Quantum had an initial issuance of 100 million Quantum and was issued before the project went online. New tokens can be mined through staking , but block rewards will halve every 4 years and disappear by 2045, when approximately 107 million issuance is reached.

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What is the future of quantum?

Quantum development seems to have been particularly slow this year. There have been no announcements for about four months since the end of 2020, and observers say that Quantum’s contribution to GitHub is largely stagnant. In early April, the project resumed activity, announcing a number of development update activities and a roadmap for 2021.

The biggest advantage of Quantum is its high interoperability. The backward smart contract compatibility and cross-chain integration provided by Quantum’s AAL technology could be game-changing. Perhaps the Quantum Project will be the key to differentiating it from other competitors. While Quantum boasts much faster transaction speeds, other highly scalable protocols like Solana are even faster.

Quantum’s roadmap hints at a technological shift towards the DeFi app. This is something that needs to be considered in a situation that currently doesn’t attract much developer attention. Currently, the only famous project running on the Quantum Infrastructure is Chicoin DEX.

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Can Quantum Be Reliable?

Doubts about the Quantum project arose as chat records and photo evidence circulated that Patrick Dye had associated BitBay CTO under the name “Stephen Dye”. The BitBay project has sparked controversy that its founders have stolen thousands of bits as an exit scam. The coin’s launch was led by two infamous altcoin groups and Dai. According to a statement released by Quantum on the Slack channel, Dai denied all these misconduct and claimed that he had left the project because he was “no more time” because he was working at Alibaba. While BitBay’s lead developer, Davin Zimbeck, defended that Dai was the only honest member, BitBay now claims that Dai left without any support and took “millions of dollars” along with it .

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Summary

Quantum is a project with both positive prospects and concerns. Quantum has high ambitions to act as a hybrid of Bitcoin and Ethereum, but has struggled to spur its adoption.

If you wish to own Quantum in the future, don’t forget to take a careful look at Co-Founder Dai’s volatile past and learn about the Quantum Foundation itself. All three co-founders have little experience with the crypto world. However, the project itself has several large investors attached to it.

It should also be noted that the project raised a large amount of $15 million at the time of its ICO, following a 20% stake allocated to the foundation during the initial mining period. Because Contam has no institutional investors, its long-term ambitions are small and it raises concerns about its short-term legitimacy.

The token price has performed well over the past year, but its future will depend on the ability of Defyro to scale and the push for the Chicoin project. Quantum must prove its ability to be “business-ready” to more convincingly convey its ambition to go beyond Ether and Bit.

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