There are bitcoin maximalists, people who think that no other currency is good enough and the only bitcoin is the true and pure crypto, these people call rest currencies altcoins and sometimes shit coins. These are very serious people. Do not engage in an argument with them on this, or maybe, do it. 😉
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowd-sale that took place between July and August 2014. The system went live on 30 July 2015, with 72 million coins “premined”. This currency was different because it’s underlying blockchain was different. It could do more things. It could have something called Smart Contracts. This meant that blockchain’s real goodness had now been unlocked.
More and more projects are coming on to the blockchain networks now, people like what it can do for them and this is shaping the future of all industries. Slowly but steadily, the concept of blockchain as a service for usages like smart contracts and DApps for different enterprises has shaped up. As a result of which, with time, such blockchain platforms have become more valuable.
There were hardly any blockchain projects that were valued over a billion dollars, and now more than 30 projects on the CMC exist which have a market cap of over 1 billion dollars. Out of these 30, half are projects are of decentralized blockchain application platforms. Some of them being:
Blockchain’s biggest challenge is adoption and scalability and all of these startups are trying to handle the salad on their own accounts by their own ways. Trying to solve the problem of blockchain adoption through various unique implementations makes each blockchain different. Ethereum leads the way but that doesn’t mean others are far behind. This blockchain changed the game, and today dominates the market.
QTUM has recently joined the race and we are hoping it wins, it is more of a one-stop solution for a big ton of problems.
What Is QTUM?
QTUM is an open-source blockchain and cryptocurrency developed, expanded and maintained by the QTUM foundation. It is a decentralized Blockchain application platform, capable of running smart contracts on multiple virtual machines, with Proof-of-Stake consensus.
In a way, the QTUM blockchain is a hybrid of Bitcoin and Ethereum blockchains and can be used like Ethereum to deploy smart contracts and DApps that do not have a single point of failure. Just like bitcoin, the operators of each node are rewarded for validating transactions. Something about it, however, makes it different. The secret lies in Qtum’s infrastructure. It says it is better than Ethereum and promises more scalability and security in the future. Let’s hope it works out and we have a good one to use for all of our blockchain needs soon.