Smart contracts are a growing interest in the industry and platforms such as Ethereum were created to leverage on their potential. QTUM was first offered in March 2017 in a project merging bitcoin and Ethereum technologies, bringing reliability and flexibility in application to its platform. It has come to be one of the most advanced smart contract platforms available, bringing more opportunity for application of blockchain technology to businesses. Supply chain management, social networking, Internet of things, among others are just but a few of the areas in which businesses can employ this blockchain technology to add value to their products.
Earlier in the year, Qtum (QTUM)announced partnerships with 360 Finance a deal that will see the creation of a technology lab to further more research and innovation in blockchains and their applications. QTUM is also collaborating with Baofeng Bokocloud, a Chinese firm with an active user base of over 200 million. QTUM will help the company handle payments from users and improve on its copyright protections. Baofeng’s technology will also help QTUM gain the ability to scale further while remaining secure. This is key to QTUM as it will enable them maintain their reliability even as they continue to grow their partnerships.
Built to be executable on mobile devices, QTUM blockchain is designed to be accessible to smartphone and tablet, a growing demographic generating more than half of all internet traffic.
The QTUM blockchain allows enterprises to build decentralized applications and execute them on mobile devices making it accessible. It has also been built to be compatible with other existing blockchains. The addition of the coin on shapeshift, a crypto exchange platform, comes as great news for QTUM holders as it reinforces the coin’s strengths in meeting business needs.
As of March 17th, a unit of the Asian based digital coin traded at 14.85 to the US dollar with over 102 million USD worth of coins exchanging hands. With about 74 million units currently in circulation (74% of the coins total supply), Qtum (QTUM) ranks 21st by market capitalization according to Coinmarketcap. It is the 12th most traded cryptocurrency with $4.19 billion USD worth of QTUM tokens being traded in the 30-day period to date. The coin is however trading at its lowest for the 3-month period to date having reached a high of 106.88 and a low of 14.49 to the dollar. However, investors and analysts have remained bullish on the currency with some estimates pricing the currency at 100 USD in a year and at over $325 USD in 5 years
QTUM is currently traded on 6 crypto exchange platforms including Binance, Bleutrade and Coinspot, with exchange possible across a broad range of digital currencies. Fiat currencies currently available for exchange include the euro, US and Australian dollar.
As of February 2018, over 50 decentralized applications from a variety of industries were on the QTUM platform. This include applications in Internet of Things (IoT), Intellectual property, healthcare, clean energy among others.
QTUM Foundation has also gone into a collaboration with Space Chain foundation to launch a satellite that will cut costs for miners on smartphones, improved stability and security and enhance the smart contract system. Launching this satellite prepares Qtum (QTUM) well for mass adoption and future applications.
QTUM’s continued investment in infrastructure and partnerships geared towards strengthening their platform is a step in the right direction creating opportunities for the blockchain and placing it in a position to edge its peers in the cryptocurrency market in the future.