Quantum coins were designed to bridge the gap between Bitcoin and Ethereum, where Bitcoin was designed as a store of value, Ethereum is a platform for deploying smart contracts. Notated simply as Qtum, it aims to bridge the two technologies to become a value transfer protocol that allows for the development and support of Dapps and smart contracts. Qtum’s aim is to be a premier smart contract platform with a focus on mobile development, but it has stiff competition in this arena from other coins, such as Ethereum.
As blockchains stabilize and consumers get pulled into the ecosystem, Dapps will become ever more ingrained in how we interact with each other through the internet and computers. The market is being created by these companies, and as I have written before, when Apple was ten years old, as blockchain is, they had not yet created the Mac, their flagship and most iconic product. Is Qtum going to be the Mac of blockchain?
Qtum Cryptocoin Overview and Price Forecast for 2018
First the markets:
On Binance the Qtum/BTC pairing is down sharply, tanking with all other coins. It experienced a small bounce off the .001812 support level, and at the time of writing is continuing its downtrend. The fundamentals of this coin look stable, a great team seems to have a vision, and they are dedicated to bringing it to fruition. At these early stages of altcoins, it’s hard to separate value from white noise, Qtum defies naysayers and continues to develop unimpeded.
One of the challenges that conventional (if there is such a thing) blockchains have is their P-O-W system and its total energy consumption. Mining bitcoins has made media headlines recently, due to environmental impact. I can understand the quest for efficiency, especially as it informs general consumer adoption. The team aims to use less energy by changing the way in which blocks are validated, moving to a proof-of-stake system to achieve consensus.
As most people have slowly come to accept the transformation internet is having on our society and our culture, more and more devices have become connected to the internet. Mobile traffic onto the internet has blossomed with the smartphone industry. A quick google search will show that in 1996, no one had the internet. 24 years later, half of the world’s population has access to the internet, and that trend will continue unabated until the entire globe is networked and connected together, mostly through small, handheld devices.
The opportunities that this presents are enormous. The future of connecting with other human beings is not something we should be afraid of, the benefits we will receive will far outweigh any negatives, and I think the team at Qtum is looking at the world in a similar way. If was can facilitate free trade across the globe, the world becomes a better, and a freer place. Having the ability to connect and trade is great, and Qtum wants to be the first to usher in that electric future.
The team has designed their product to allow for others to create on top of what they have created, they are attempting to allow for blockchains to interact, and to become compatible. The future looks bright if they can pull it off, because being able to connect blockchains of different functions together creates infinite potential, and I don’t even understand what the limits of humanity would be at that point. In much the same way a simple block of code interacts to create an application, what do multiple blockchains connected and networked create?
The team has experience and market penetration at the right time. With one of the most successful ICO campaigns so far, Qtum has promised pretty amazing advances in technology if they can do the work. At the end of the day, a great story can hook an investor, but market adoption means it has to work. People have to use it and like it. As capital poured in too cryptos in 2017, investors and speculators were excited about the possibilities of new crypto technology. Investors are now waiting for some work to get done, and some milestones to get crossed. That work is getting done over at Qtum, and it is poised to become a market shaper over the next 18 to 24 months.