What Is Qtum (QTUM)?
What happens when you mix Bitcoin's security protocols with Ethereum's smart contract functions? The result would be something very similar to what Qtum is trying to achieve. Operating as an open-source smart-contract blockchain, Qtum has been able to bridge a gap that satisfies all stakeholders, here is how they are doing it.
Qtum cryptocurrency is a project seeking to provide an alternative to Ethereum in terms of decentralized applications (dApps).
Individually, both Bitcoin and Ethereum have serious limitations that have come to affect their users.
Bitcoin's Proof-of-Work consensus system has come under great criticism because of the amount of resources (energy and computing power) it requires to work. Yet, there is no denying how secure the system is, especially compared to Ethereum.
The latter has driven the development of the cryptocurrency community through the use of smart contracts leading to the development of hundreds of dApps. However, the immense adoption has led to constant congestion on the platform, resulting in transaction delays, outrageous gas fees, and overall inefficiency.
Qtum’s native token (QTUM) takes the same name as the platform. It is used as a reward for stakers who validate transaction blocks. It also gives eligibility to participants of the Decentralized Governance Protocol (DGP).
Qtum Price Live Data
As with most cryptocurrencies, the QTUM price is not stable. However, with the Godex interactive QTUM price chart, you can follow the real-time price of QTUM coins, as well as track changes over time.
The chart with red and green bars is called a candlestick chart. It provides you with insights into the performance of the QTUM coin over time.
The colored bars are indicative of how the value of the QTUM token has changed within the day. The bars are called candles, and each candle represents a specific day on the QTUM chart. Where green candles indicate an increase in the price of QTUM for the day, red candles tell the opposite — that is, there was an overall decrease in the price of QTUM at the close of the day.
Time is measured across the chart (from left to right), while the price indicator is on the vertical axis to the right.
A glance at the chart will tell you how the QTUM token has performed on any given day. When you move your cursor across the chart, a cross with a dotted line pops up. Move the cursor around to trace the changes in the price of QTUM in relation to time.
Qtum Exchange Rates
The highest QTUM value ever recorded was $99.87 on January 7, 2018. Around that time, Qtum was working on a blockchain collaboration with 360 Blockchain Research Center and the New Bitcoin Foundation. The collaboration was officially announced two days later on January 9, 2018.
The collaboration was only one part of the publicity Qtum was attracting at that time. After it made its appearance at BlockShow Asia earlier in November of 2017, the project picked up traction, featuring in conversations amongst cryptocurrency enthusiasts, investors, and blogs with an appearance in Forbes.
The increased publicity and enthusiasm in the project drove the price higher until it culminated in the highest price it ever recorded. Still, the QTUM stock has remained volatile. You can check the real-time price on QTUM exchange platforms like Godex.io.
How to Convert Qtum
If you are looking to convert QTUM to/from other cryptocurrencies, consider using Godex. Godex is a wholesome cryptocurrency exchange platform that:
- lets you carry out transactions without having to register;
- affords a fast transaction process in simple, straightforward steps;
- protects your transactions using strong security protocols;
- does not impose limits to the number of coins you can exchange;
- allows you to convert to over 200 cryptocurrencies;
- offers you a chance to earn up to 0.6% of every transaction through its affiliate program;
- provides interactive charts, like a QTUM USD chart, to help track the QTUM coin price.
Can You Mine QTUM?
You cannot mine QTUM because the platform uses the Proof-of-Stake algorithm. Instead of solving cryptographic problems like in Proof-of-Work (PoW) systems like Bitcoin, QTUM uses a staking mechanism.
A staking system appropriates rewards based on the number of tokens a validator deposits (stakes). Your chances as a QTUM staker to earn a QTUM coin depend on the magnitude of your QTUM stake. Therefore, you will earn QTUM coins in transaction blocks where you have the highest stakes. You can also exchange other coins you won to QTUM using the anonymous Godex exchange.