01/10/18 07:01 UTC-4

The relevance of Qtum in the business environment

QTUM and business
QTUM and business

The QtUM abbreviation comes from the word Quantum. This platform is developed on the technological principles of blockchain by experts from Singapore who are excited about the idea of ​​developing a network combining the stability of Bitcoin and smart contracts available on the basis of the Ethereum shell.



Thanks to the parallel operation of Bitcoin and Ethereum, the security of smart contracts is enhanced, allowing users to exploit the advantages of just two platforms. It is in this direction that the QTUM network is developing, which, to date, managed to enter the top 20 most popular crypts in the world, increasing the capitalization to one billion dollars.

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Any individual can start using QTUM, but the main consumers of business applications and smart -contracts are still large companies that are trying to switch from outdated management methods to more automated racks. A promising mechanism for business is not only the blockchain  technology  , but also the growing popularity of digital currency units (cryptocurrency). Transactions for the purpose of making a profit have become as commonplace as buying / selling fiat money.


Work principles

On the basis of QtUM, the tools for creating applications necessary to fulfill the terms of smart -contracts are successfully implemented. The QtUM functional is primarily in demand in the business environment for the administration and organization of processes.

In QTUM they decided to become a kind of bridge connecting two opposite worlds. At the same time, the QTUM platform developers offered users convenient mechanisms for creating decentralized dApps applications. The most technological solution for the QTUM infrastructure was the introduction of an abstract account, which facilitates the exchange of information between Ethereum and the block chain Bitcoin.

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In practice, the use of QTUM makes it possible to obtain information about smart- contracts using the API-interface. The acceptance of external data and their processing are necessary in business processes, therefore the network allows to use its computing power for transactions between users. QTUM builds its work on the PoS confirmation algorithm, which ensures the safety and effectiveness of implementing smart- contracts.


QTUM is a pioneer in the successful development of smart- contracts for work on mobile devices. To achieve stable operation of the platform on conventional smartphones was possible due to the use of a simplified model of transaction confirmation, which takes into account only the last blocks in the Blockchain. A simple payment check called SPV allows you to check the operation without starting the entire node. Perhaps very soon, QTUM can become as popular as its inspirers in the person of Ethereum and Bitcoin.

Editor: Yuliya Soroka

#Qtum #Blockchain #cryptocurrency



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