QTUM is an open-sourced protocol designed to bridge the gap between the blockchain and businesses. It’s a “business-ready blockchain” boasting features like security and versatility for the development of decentralized apps.
QTUM harnesses Bitcoin’s Unspent Transaction Output (UTXO) model, which was a deliberate decision over Ethereum’s Accounts model for the former’s stability, security and flexibilty. The QTUM team aims to take the best of Bitcoin and add to it something new, ultimately delivering the maiden “UTXO-based smartcontract system with a proof-of-stake (PoS) consensus model.”
The QTUM blockchain offers developers the ability to create solutions to problems that exist globally. Developers can create smart contracts for QTUM using mainstream languages across Python, Rust, C++, Lua, and Go.
“A decentralized and open-source smart contracts platform and value transfer protocol.” QTUM uses PoS mining, which gives node operators the opportunity to be rewarded for validating transactions, similar to bitcoin mining. Volunteers with a minimum of one QTUM can participate.
A decentralized governance protocol puts the power in the hands of the QTUM community, “giving them the freedom to grow and prosper.” Also, “community participants can vote to change certain network parameters.”
A “modular, decentralized and mobile blockchain” including a blockchain stack and mobile friendly wallets for IoT applications. QTUM has the flexibility to integrate upgrades to the UTXO model like SegWit. QTUM is targeting a payment channel harnessing the Lightning Network to deliver more than 20,000 transactions per second.
Developers looking to create decentralized mobile apps and businesses that want to have them.