Qtum (QTUM)

A general overview of Qtum (QTUM), its idea and features.

The Qtum project tries to solve two problems: technical and economic. Honestly to understand what technical problem developers want to solve, it is necessary to have serious knowledge base and understanding of the blockchain technology, therefore let's make it simple and pass to economic problem. But it is rather not a problem, but the purpose — to bring blockchain technology to finance, social networks, a gaming, the Internet of things and others.

The main advantages of Qtum's blockchain is master-contracts that will use ‘off-chain’ and ‘on-chain’ contracts. Now we will try to explain differences between them. Ethereum blockchain uses information which is already on the blockchain and it is limited, the real world much more widely and more variously than just information in a chain. In business there is a lot of information which can change data, after process start, so it is necessary to receive this information online.

For example: you ordered a delivery from China. The producer has collected your order, brought him to the port and sent to you. As soon as the carrier received item in port, you can pay for it. But for this purpose this information has to arrive in a blockchain. Qtum's blockchain helps to solve this problem with the help of "on-chain". Now it's more clear how useful is this function?

It is also worth noting that Qtum has quite strong team of the project in which gathered representatives of China and Europe. The company is called QTUM Blockchain Foundation and is registered in Singapore.

Website: qtum.org

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