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QTUM (pronounced "quantum") is a startup using the Singapore-based Blockchain techno that bridges Ethereum's Smart Contracts (Smart Contracts) with the stable Bitcoin Blockchain (Proof of Stake) for verification. QTUM hopes to increase the reach and interoperability of applications based on smart contracts, especially for commercial and institutional purposes. In addition, QTUM will implement tools, templates and other smart plug-and-play contract options to facilitate the creation and execution of smart contracts by businesses.
After reaching 1,155 INR on September 1st 2017, it fluctuated to its in-house developmental fixes and finally reached 752 INR on 30th September 2017. Qtum team held a hackathon, signed up with a medical research company named Mercantis and has partnered with Hackerone bug bounty in order to scrutiny their Qtum source code.
QTUM started from 809 INR on 1st October 2017 and descented down towards 676 INR on 31st October 2017. Otherwise, the team had partnered with another medical blockchain startup named Medibloc.
And at 641 INR on 1st November 2017, QTUM finally reached 831 INR on 30th November 2017 which was a considerable change with regards to the team involved in plenty of blockchain projects(Robin8, Vevue, Aware and many more) which led to promoting Qtum community extensively.
Initially started off at 841 INR on 1st December 2017 and moved up high to 3982 INR on 31st December 2017 ending the year on a spectacular note.
Initially started off at INR 3911 on 1 January 2018 and dipped down to INR 2390 on 31 January 2018.
Initially started off at INR 2671 on 1 February 2018 and dipped down further to INR 1669 on 26 February 2018.
The idea behind QTUM is to make smart contracts easier and safer while offering interoperability with major cryptocurrencies such as Bitcoin and Ethereum. The base of the QTUM code is the Bitcoin blockchain, but the QTUM developers have abstracted and added layers to the Bitcoin blockchain that allow the Ethereum virtual machine for smart contracts to run on Bitcoin. As such, QTUM is benefiting from new developments in the Bitcoin and Ethereum communities, and Ethereum-based smart contracts can easily be transferred to QTUM.
QTUM stands as a bridge between Bitcoin's stability and Ethereum technology. Specifically, this means that QTUM is running a version of the Ethereum Virtual Machine (EVM) - the thing that makes smart deals possible - in addition to the Bitcoin blockchain. The problem is a fundamental incompatibility between the ways in which Ethereum and Bitcoin store data.
The Ethereum ledger (Ledger) uses account balances, much like a bank in the way we usually think about it. However, the Bitcoin ledger uses unspent Transaction Outputs (UTXOs) as value markers. Account balances are simpler and easier to code, which is why Ethereum uses them. However, according to the QTUM team, with UTXOs, it is easier to validate transactions and you can process multiple transactions at the same time, regardless of the sequence. This makes UTXOs safer and scalable.
So, if the Ethereum virtual machine is built on a system that uses account balances, it is a serious technical challenge to deploy the EVM on the Bitcoin blockchain. QTUM solves this problem with an account abstraction layer that converts blockchain outputs into account balances and facilitates the transfer of information between the EVM and the UTXO-based blockchain. This layer of abstraction is QTUM's greatest technological contribution.