QTUM Review: Crypto Revolution? Or ETH Wannabe?
QTUM is a cryptocurrency that brings new innovation to the blockchain industry with its own development potential.
Throughout the history of mankind, People have banded together to fight the status quo. These revolutions have occasionally toppled governments and businesses. However, just as many have been trampled by the establishment. One thing all revolutions have in common is that they brought about change. Some of that change has been negative. But, most has been positive.
Since the crypto revolution began there has been a division of beliefs between the people participating in the thousands of crypto projects that have sprung to life. Litecoin, Doge, Monero, and every other coin has proclaimed itself king over Bitcoin. Well, we here at CryptoDetail disagree with those proclamations. However, as we have said many times in the past; there is room for every coin, token and idea here in the cryptosphere.
Another coin that faces just as many challenges as Bitcoin is Ethereum. The ETH platform for development is one that took the world by storm in its own little revolution. Unlike many other revolutions we see here in the cryptosphere, ETH did not revolt against Bitcoin so much as it did against the traditional internet itself.
With the invention of the Smart Contract Ethereum gave developers the ability to create their ideas into tangible DAPPs and websites that all run off of the ETH blockchain. All of that possibility propelled ETH to its # 2 spot in the cryptosphere, right behind Big Daddy Bitcoin.
With such prominence, there are no less than 11 new projects in the CoinMarketCap Top 25 that tout their own developer friendly projects. Many of those 11 directly claim to be "ETH killers". Well, we here at CryptoDetail have discussed that at length many times. So, we will just let you look back at our other articles to see why we believe that claim to be nonsense.
A ninja in the group
However, with all of the hype behind the up and coming platforms offering ETH-like potential, there is a ninja in the group.
QTUM is a cryptocurrency that brings new innovation to the blockchain industry with its own development potential. And, while QTUM possesses all of that potential and possibility of future innovation by its users; the coin, project, and team are all very quiet and humble about the whole thing.
In fact, it is only word of mouth (and its place as # 19 on CMC) that brought QTUM to our attention. And, once we discovered this coin, and its potential for us as developers, we simply had to share this amazing platform to you, our loyal readers.
What Is QTUM?
QTUM is actually something quite innovative. And, as you all know, we here at CryptoDetail love blockchain innovation. Whereas most of the ETH-like coins are merely a carbon copy that has been rebranded and tweaked a little here or there, QTUM has done much, much more.
The QTUM team created a hybrid coin. At its core, this new coin is Bitcoin. The team took that core and recoded it from Proof of Work protocol to Proof of Stake protocol (keep an eye out for a future article where we explain the difference between PoW and PoS). Then, to add to that very solid base, QTUM has also implemented the ETH Ethereum Virtual Machine (EVM for short). Together this code has become something much like, yet very different than the two "big dogs" from which it was created. And, well, we here at CryptoDetail think that was a bit of genius.
After all, a mere fork of either Bitcoin or Ethereum is far more than a day's work for a talented team. Modifying and combining the two; well that's nothing short of amazing. To accomplish this hybridization QTUM created what they call the Account Abstraction Layer (AAL for short). This bit of code allows the Ethereum EVM to communicate effectively with the underlying Bitcoin Core base of the QTUM.
All of this connects together seamlessly to give QTUM users the reliability of the Bitcoin blockchain network, with Ethereum blockchain's ability to run smart contracts and DAPPs.
What Does All of This Mean?
If you are a coder, and many of us here at CryptoDetail are, you can see the potential for DAPP development on the QTUM software. However, if you are not a coder, it is always good to see potential in any coin or token before buying, trading or HODLing any amount. After all, this is your money we are talking about here.
With the vast development potential and its already impressive spot at # 19 in the CoinMarketCap Top 100, QTUM is a sure thing as far as future growth potential. And, as an everyday coin user or investor (even though currencies are not meant to be investments) future growth is key to making money and for a store of value.
So, regardless of your personal situation and interests, QTUM is one of those (in our opinion) undervalued coins that demands a good look. Remember, read everything, inspect the website, white paper, documentation, and code repository for yourself before making any decisions as to how to proceed with your own finances.
As for us; well, we here at CryptoDetail already have a QTUM-based DAPP under construction. And, of course, Stan the HODLer started building his QTUM wallet a few months ago. So, we are all in. Hopefully, we will see you exploring and participating in the QTUM revolution soon too.
Nothing in the above article is intended or presented as "financial advice". We here at CryptoDetail are not CPAs. Before buying any coin or token, or before making any financial decisions it is up to you to do your own due diligence. Then, once you are well informed, it is up to you to discuss your situation and strategy with a reputable, local, crypto friendly CPA in order to protect yourself and your money to the fullest extent possible in such ventures. Anything you have read here is merely our assessment and opinion from the facts we have uncovered through our own research.
Thanks for joining us for this exploration! Good luck on your own crypto journey!! Happy HODLing!!!