Now that we have a clear idea of what Qtum is all about, let’s have a look at how it works and what makes it different from other cryptocurrencies in the market.
There is no denying that the lack of compatibility affects and limits the true potential of technology. ETH uses an account-based approach, while BTC uses UTXO, or the output approach, for unspent transactions. This enables the interaction of both chain nodes. Where Qtum comes into the picture is by merging the two approaches through its account abstraction layer. The software copies the BTC model while writing smart contracts like ETH apps on top of it.
However, this is not the entire reason that makes Qtum unique from others. Qtum employs PoS 3.0, which is known to be the mechanism for added security. The mutualized PoS smart contract is an advanced version of the 3.0 protocol that serves as the foundation of Qtum’s security.
The platform also follows a model that merges well-known features of popular blockchains. Qtum succeeds in meeting the expectations of market participants by removing third-party systems and implementing a trusted network.
Qtum also comes with a multi-wallet feature that allows users to manage payments across multiple accounts and cut the hassle. Moreover, the platform is proactive in deploying dApps, which certainly makes the platform more unique. Additionally, the faster execution of smart contracts, simple business integrations, and ability to support Defi are what make Qtum one of its kind.
We discussed what Qtum is, how it works, and why it is different from other cryptocurrencies. Now it is time to shed light on the price history to get a clear idea of the direction QTUM is going.
If you are wondering, "How much is one QTUM today?", then the current Qtum price is $2.37. The market cap is $248 million, with a total circulating supply of 104,689,357 QTUM.
When the price of cryptocurrencies is concerned, they differ from one another, and Qtum is no exception. There are a lot of factors that determine QTUM’s price. These include market and public sentiment regarding the coin, new trends in the market, project developments, and global economies.