What is Qtum?
The coin has managed to remain in the top of the most recognizable crypto startups for several years. What is his idea and how the company's specialists managed to bring it to life - learn about this and other key points of the project from our material.
QTUM is a project originally from China. Most of the development team for this coin is from the Middle Kingdom, although it includes several specialists from some European countries and the United States. The project was registered in Singapore in 2016 as a business structure, called the Qtum Blockchain Foundation.
According to the official information published on the coin's website Qtum is a non-profit project whose main goal is to develop and popularize cryptocurrency ideas among users.
The initial investment in the development of this cryptocurrency was more than $ 1 million. In general, the cryptosystem works using the technology of master contracts, which allows money to be drawn into the crypto network from outside the blockchain, which significantly exceeds the smart contracts used in Ethereum and in some others. smaller cryptocurrency projects.
How to invest in Qtum?
As part of the technical framework for the Qtum crypto project, the Bitcoin transactional model is combined as well as the Ethereum consensus cryptosystem. At the same time, the blockchain of the Qtum crypto project operates on the basis of the UTXO model (exits without a transaction or a list of non-applicable transaction exits). This model requires users to provide proof of ownership of digital assets to enable them to be spent. Now, due to its hybrid structure, combining PoW and PoS simultaneously, Qtum software tools are able to have full compatibility with the main block chains, smartphones, as well as the Internet things.
The Qtum cryptocurrency is now actively traded on crypto exchanges. In simple terms, a crypto exchange is a platform (site) on which you can perform trading operations with cryptocurrency. Buy Qtum or sell etc. In fact, a cryptocurrency exchange unites users who want to trade cryptocurrency. On cryptocurrency exchanges, exchange of virtual coins with each other and for fiat money, buying and selling, making money on the difference in rates is available. Unlike exchange offices, exchange participants get more opportunities in terms of benefits and functionality. Many services allow not only carrying out operations with cryptocurrency, but also storing it in internal wallets. At the moment, with the development of the cryptocurrency sphere, the line between the types of exchange platforms has disappeared. Almost all exchanges have broad functionality and allow a wide range of transactions in different directions.
The cryptocurrency exchange is convenient for all participants and owners. The first get the opportunity to exchange and trade virtual coins with the possibility of earning, and the second get profit on commissions on transactions.
To work on the exchange platform, it is important to work with the tools available to the user:
- First of all, you need to be able to navigate in the chart. A chart is a special "picture" that reflects information about the movement of the exchange rate of the selected cryptocurrency or fiat money. It can be used to estimate the spread - the difference between buying and selling coins.
- Secondly, you need to pay maximum attention to orders to buy or sell - information about orders is displayed here, it is collected in the so-called “order book” - a table with data on the number of coins and the declared price. Analysis of information allows you to assess the demand for a certain coin or find a participant offering suitable conditions for a transaction.
- Third, to control Support and Resistance - these are special levels that limit the minimum and maximum price parameter. The support line runs at the bottom and is drawn at the minimum cost parameters. The resistance level works on the opposite principle - it limits the high prices.
- Fourth, daily view information on the Trading Volume - this is a parameter that reflects the amount of transactions performed on the exchange floor. Expressed in dollars or rubles. On cryptocurrency services, as a rule, information about the number of transactions under the price chart and reflected in the form of columns indicating the number of transactions for a certain period of time is used.
Another option when investing money is Staking. Now, staking is becoming a popular investment method not only for retail investors, but also for institutional investors.
Another option for making money on cryptocurrency is trading through online trading platforms.
Brokerage trading platforms allow you to trade using CFDs.
A CFD is a derivative contract based on the difference in the price of an underlying asset over time.
A CFD agreement does not provide for the ownership of the underlying asset, but gives an opportunity to speculate on the growth of its price.
Trading platforms have a number of advantages such as a free demo account and many analysis tools in the form of indicators and statistics.
A demo account is, in simple words, a virtual trading account for working in the financial markets. It is completely similar to a real trading deposit and is intended for trading training before opening a real account. This account differs from a real deposit, only in that you will be able to execute trade transactions without investing personal money, using "virtual currency" for any amount. You can make investments from the amount of $ 1.
Staking is a way of passive earnings. Staking completely replaces mining and makes it possible to mine new blocks without using large computing power. The point of staking is to ensure all operations on the blockchain and support the network. For this, holders of digital coins receive a reward. The more tokens the holder has, the more likely he will become the creator of a new block. Roughly speaking, Staking works in a similar way to how bank deposits work. The more money is in the bank, the more profit you will have. The amount of profit depends on It also depends on the time for which the bank freezes depositors' money: the longer the period, the higher the percentage. At the moment, due to the growing popularity of staking, there are many opportunities for users who want to receive passive income using their free crypto assets.
Surely in conversations you have often heard the word "Mining", but you do not understand what this word means in this context. And the fact is that someone once compared cryptocurrency with precious metals, and after which its production began to be called Mining .A "miners", respectively, are the people who mine. Only they do not mine minerals, but virtual coins. Absolutely any person can become a miner and for this he does not need to have special education and or master some kind of physical labor. All that is needed for work is high-performance computers and related gadgets (video cards, processors etc.).
Mining is the process of registering and verifying a transaction in a publicly available decentralized digital system known as a blockchain. For this, miners use powerful computers to solve complex algorithmic problems and receive crypto coins for the work done.
Miners, in turn, perform several functions in the blockchain:
- confirm transactions.
- verifies transactions that have been registered by other miners.
- store copies in the blockchain and thereby protect information from forgery or loss.
In simple terms, cryptocurrency mining is a computational task based on a cryptographic algorithm (hence a cryptocurrency). In the course of mining, new crypto coins are issued.
There are several types of mining:
- Cloud mining (you rent a certain amount of computing power (hash rate) in a remote data center on the Internet and get a reward in cryptocurrency).
- Mining on video cards (This is a fairly popular and cost-effective way of earning cryptocurrency. ASIC miners, of course, are more productive, but video cards have a three-year warranty, they are quite easy to reconfigure to a different algorithm).
If you decide to start mining cryptocurrency, you need to develop a business plan. Determine what kind of cryptocurrency you will mine, the amount of capital investment and the profitability of the business. To do this, it is necessary to calculate the current mining profit and the prospects of the selected coin for long-term storage. The mining of popular coins does not always give the maximum profit. Miners can earn on any projects, the main thing is to exchange little-known coins for more reliable assets in time.
There is currently no mining in the Qtum system, nor are there any plans to do so. However, users can receive rewards in Qtum's currency for storing these tokens in their wallet. But to do so, the tokens must "mature", that is, they must exist in the wallet for a certain period of time. The system stipulates that the total number of coins cannot exceed 100 million.
QTUM, like many other similar cryptocurrency projects, has some advantages that distinguish this coin from other digital crypto assets. The main advantages of the Qtum coin are the following characteristics:
- a professional team of programmers worked on the coin, which managed to gain fame and popularity within the crypto community;
- adaptation for functioning on portable gadgets;
- the ability to quickly implement changes in the structure of the blockchain of the crypto network, while coordinating with the user community;
- the use of master contracts that surpass the smart contracts of the Ethereum crypto network in all key indicators;
- primary focus on working with representatives of the business segment, which guarantees the availability of financial resources to ensure the subsequent development of the coin;
- the presence of serious financial and technical support from both large representatives of virtual currency and from significant companies with a serious status in the IT field.
If you believe the forecasts for 2022 according to QTUM, then this token should show good growth. Now there is a great demand for the crypt in different countries, including in Somalia you can buy and invest. At the same time, some crypto market observers predict an increase in the value of the token at the level of 200-300 percent.
Analysts indicate that the stage of completion of the correction of the exchange rate quotes of Qtum is taking place, so now is a good time to invest available free funds in this crypto project. QTUM is a very interesting and promising technology, which is a real breakthrough in blockchain development.
Developers also showed themselves on the positive side: six months after the ICO, the main version was launched networks and official wallets are presented. The team continues in the same spirit and clearly follows the plan outlined in the "roadmap".