Qtum is an open-source public blockchain platform that aims to combine the strengths of Bitcoin's secure Unspent Transaction Output (UTXO) model with the flexibility of the Ethereum Virtual Machine (EVM) for smart contract execution.

Watch this video to learn more about the Qtum blockchain:

Core Principles

Qtum is built upon several core principles that shape its design and functionality:

1. Decentralization

Qtum operates as a decentralized network with no central authority or servers. The digital ledger is maintained by a distributed network of nodes, making it immutable and resistant to censorship or repudiation.

2. Trustless

Rather than relying on third parties, Qtum employs cryptographic hashes that allow independent verification of every transaction on the network, ensuring a trustless environment.

3. Permissionless

Anyone can join the Qtum network, run a node, and participate in the consensus process without seeking permission or approval from a central authority.

4. Proof-of-Stake

Qtum uses an energy-efficient Proof-of-Stake (PoS) consensus mechanism, which allows participants with minimal hardware resources to contribute to the network's security and earn rewards.

5. Open Source

Qtum's codebase is open source, enabling transparency, community review, and the development of decentralized applications (dApps) on top of the platform.

6. Community-driven

Qtum values open discussion, dialogue, and community involvement, fostering a collaborative environment for adoption and growth.

Key Features of Qtum Blockchain

Here are some features of the Qtum blockchain:

Secure UTXO Model

The Qtum blockchain inherits the secure and battle-tested Unspent Transaction Output (UTXO) model from Bitcoin, which provides robust transaction validation and prevents double-spending.

Ethereum Virtual Machine (EVM)

Qtum incorporates the Ethereum Virtual Machine (EVM), allowing developers to write and deploy smart contracts using the Solidity programming language and leverage existing Ethereum tools and libraries.

Decentralized Governance Protocol (DGP)

Qtum implements a Decentralized Governance Protocol (DGP), which enables the community to propose and vote on changes to specific blockchain parameters, such as block size or gas prices, without requiring a hard fork.

Proof-of-Stake (PoS) Consensus

Qtum uses a Proof-of-Stake (PoS) consensus mechanism, where participants can stake their QTUM tokens to validate transactions and earn rewards. This approach is more environmentally friendly than the energy-intensive Proof-of-Work used by Bitcoin.

Cross-Chain Interoperability

Qtum is designed to facilitate cross-chain interoperability, enabling communication and value transfer between different blockchain networks, and expanding the possibilities for decentralized applications (dApps) and ecosystem integration.

Applications and Ecosystem

Qtum's combination of secure UTXO transactions, smart contract capabilities, and decentralized governance makes it a versatile platform suitable for various applications, including decentralized finance (DeFi), supply chain management, identity management, and more.

With its active community and commitment to open-source principles, Qtum continues to evolve and expand its ecosystem, fostering innovation and adoption in the blockchain space.

As part of doing your research, read the documentation and Qtum's whitepaper here.

Cover image by Qtum