What is Qtum?
Qtum was created in 2016, after which it was introduced fully to the crypto world in 2017. Qtum (pronounced quantum) is an open source blockchain platform that combines the security of the UTXO model with many virtual machines, including the EVM and x86 VM. Qtum is based on a PoS algorithm and a decentralized control protocol (DGP) that allows certain blockchain settings to be changed using smart contracts. This platform is for smart contracts that function in business.
Qtum provides a standardized, stable and secure ecosystem for smart contracts, making them easy to code, deploy and use for the private sector. Qtum is a platform for decentralized that in turn ensures interoperability and stability.
How to invest in Qtum?
At the moment, there are several factors that give a description of the Qtum cryptocurrency:
- Firstly, PoS with a complete absence of masternodes, that is, absolutely anyone with any number of coins will be able to launch a node, create their own blockchain and receive a reward for it, but it is worth noting that those with more coins will have higher chances. There is a certain formula, the node calculates a new hash every 16 seconds, after which this hash is compared with a given difficulty number. And accordingly, the more coins the user has on the account, the greater his difficulty number and the more successful he is to get a successful hash.
- Secondly, Now the Ethereum virtual machine is mainly used, so Ether contracts can be run on Qtum with only minor adjustments. Qtum also plans to acquire its own smart contract language in addition to the Solidity language.
How to Invest in Qtum in Nigeria?
How to invest in cryptocurrency is a popular question today. There are several options for making money on crypto coins. The classic option is to buy cryptocurrency through a cryptocurrency exchange. Trading through an online brokerage platform is also a popular option.
Investing through a crypto exchange
Now many crypto exchanges provide the opportunity to buy the desired cryptocurrency - when choosing an exchange, stop your choice, relying on the reputation of the resource and the reviews of experienced traders. To purchase, you will need to open a crypto wallet on the exchange of your choice. As a rule, this method is chosen by those who understand the nature of crypto coins and the laws of functioning of the crypto currency market. Buying through a crypto exchange makes it possible to mine (if the type of cryptocurrency allows) or earn on staking.
While traditional money is issued by the Central Banks of different countries, cryptocurrency is “produced” by miners, that is, people who present the computing power of their equipment to support the network and receive an award in the form of coins for this. The relevance of mining always depends on the current state of the market. When the market is in decline, many go out of business, and when it comes back to life, it makes sense to mine again. At the moment, many see great prospects in mining.
Qtum uses what is known as a Proof of Stake (PoS) consensus mechanism.
Accordingly, you cannot mine Qtum on devices with processors, video cards, or even ASIC rigs like Bitcoin. The only possible way to mine QTUM is just to have these tokens. The PoS system randomly selects validators for new blocks.
If the respective validator has the largest ownership stake, then his or her chances of receiving a block validation payout are dramatically increased. In other words, the larger the share of the participant in the block, the higher his chance of confirming the block and receiving a commission for the transaction.
To work in the world of cryptocurrency, you can also use Staking. In this case, Proof-of-Stake coins allow network users to store their coins in exchange for a reward; here you just need to store funds in a wallet. the more coins - the more reward you will have. From the point of view of earnings, here the principle is similar to masternodes, but it requires a little less effort.
The option of investing in cryptocurrency through an online brokerage platform usually attracts newbies. The platform provides many tools for studying and analyzing the market, for example, statistical data, real and historical data on price charts, automatic indicators for technical analysis, as well as graphical tools for independently building elements of technical analysis, for example, trends, support and resistance lines. Also, many platforms provide access to a news feed, in which you will find up-to-date information about the cryptocurrency market from trusted sources.
On online platforms, trading is carried out through CFD contracts.
Translated from English “CFD” means “contract for difference” and is a contract concluded by two parties - a buyer and a seller. The essence of the contract is that the positive difference between the opening and closing prices of a certain financial instrument is paid by the seller to the buyer, and the negative difference is paid by the buyer to the seller. When choosing a CFD, every trader must weigh the pros and cons. If large spreads, leverage, risk, and other considerations pay off, then CFDs provide an excellent alternative for some types of trading.
Features of investing in cryptocurrency
If we take a brief look at investing in cryptocurrency, then this means that you will need to buy that cryptocurrency for real money, the long-term prospects of which seem to you the most “solid”, after that you will need to store it in a safe place for a long time, sometimes even several years. After that, when the rate of this cryptocurrency, in the opinion of the investor, has grown enough, you can sell it at a profit. Of course, there is a difficulty, which lies in the volatility of the cryptocurrency. When the rate begins to fall, it is very important to determine whether you need to quit selling savings until they are not at all have depreciated, or at the moment this is only a temporary crisis, so there is no need to panic yet.
To increase your chances, it is advisable to acquire as much experience and knowledge as possible - the market is largely driven by emotions, no expert will be able to assert 100% of its rise.
The main rule of investing should be remembered - you need to diversify your investments, buy several cryptocurrencies of different types at once. Even if one cryptocurrency depreciates, the investor will not lose their money.
Qtum mining is based on PoS algorithm and is very simple. In order to earn on commissions from transactions on the network, it is enough to take a few simple steps:
- select a Qtum wallet;
- send purchased coins to them;
- wait for the completion of the next 500 blocks;
- keep the wallet active.
As a basis for the work of Qtum, the expansion of the functionality of the most popular systems based on smart contracts was taken. So, in their place in the project, "master contracts" were put, the main difference of which is the possibility of making a decision on activation based on additional factors located outside the blockchain.
The user can independently program his contract for certain resources that supply information, which makes it possible to automate the process. All information will be taken exclusively from trusted sources, the data of which allows you to be confident in their reliability. Additional benefits that Qtum offers to its users include the following:
- The ability to communicate with other blockchain projects. At its core, Qtum is a hybrid of Bitcoin and Ether. Taking all the best from its older brothers, the project was endowed with the ability to implement communication between systems (that is, it will be that working with it allows you to eliminate the third link in the chain, in the form of intermediary exchanges);
- Customization to the needs of the business industry. The creators place a special emphasis on this side of their work. The main advantage for business is the desire of the project to fully comply with the legal side of the issue. In other words, Qtum operates in accordance with current laws, which allows large businessmen to consider it. At the same time, Qtum offers companies a product that can be used legally. The problem with many decentralized platforms and the assets operating on their basis is that they do not allow regulators to show transparent schemes for the movement of assets, and this complicates the work and preparation of reporting. The creators of Qtum have solved the problem by integrating a variety of "white tools". Among them, for example, stands out the Identity Module, which identifies each participant in the framework of local interactions. Thus, companies forced to account for each step can link all their activities in the Quantum network with each specific customer and partner, which contributes to absolute transparency. The project motivates them to do this by offering additional bonuses, but the corporations themselves, due to such a scheme of work, are able to provide services and fulfill the requirements of each counterparty with increased requests for personal data verification.
Also, the advantage of Qtum is the support of reputable investors and companies, so this project is unlikely to be fraudulent. The Qtum script is not limited to a specific audience.
The purpose of the technology is smart contracts for business. The project increases productivity and process automation. It also reduces the cost of services.
Companies are replacing outdated solutions with high-tech ones. For example, a firm can create its own token to sell goods. A distributed ledger reduces risk. The decentralized environment builds self-executing chains, and considering its popularity, it is not difficult to buy it. Many cryptocurrency exchanges sell it, including you can buy a coin on the Nigeria exchanges. The Qtum (Quantum) cryptocurrency has almost doubled in price over the past year and was able to withstand quite significant market fluctuations. Such price stability compared to the speculative movements of other cryptocurrencies is not accidental.
The Qtum coin was designed to combine the best aspects of Bitcoin and Ethereum, the two main cryptocurrencies on the market.
Qtum can invest your money well thanks to its robust blockchain management technology. Moreover, in recent months, their value has increased. It is always important to conduct a thorough analysis of market conditions before making any decision to buy a cryptocurrency, the fact that Qtum is increasingly involved in decentralized finance makes this an interesting time to invest in this cryptocurrency. Thus, Qtum has not yet reached its previous maximum, so it can be assumed that the value of the cryptocurrency will grow in the coming months, in this regard, it is recommended to buy Qtum in the near future. As previously written, Qtum is a cryptocurrency that has everything you need for further growth in the coming years. But it should also be noted that some time ago it quickly rose in value and then fell sharply. In this context, the best strategy for investing in Qtum is probably to hold the currency for only a short time and then sell it again.It is also important to note that the team of Qtum creators has decided to start developing a unique hybrid crypto coin, featuring a virtual machine and smart contracts. Nobody on the market has offered anything like this. For this reason, the outlook for the Qtum cryptocurrency seems to be quite positive, as this coin is able to attract the attention of many participants in the cryptocurrency market.
Based on the above, we can summarize that, in general, the Qtum project has good prospects, as well-known professionals who previously had extensive experience are engaged in its development in the creation of various cryptosystems.