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Qtum - QTUM Profiles
Since the birth of Bitcoin, we have come a long way in blockchain technology. Most of the new Layer 1 platforms use innovations that are far from the original Bitcoin model. However, Qtum has consulted and distilled the best of Ethereum and Bitcoin. This combination makes it a particularly interesting project because of its unique architecture. So, if you've ever wondered what makes Qtum special, Binance Academy will explore those unique aspects with you.
What is Qtum?
Qtum is an open sourced public blockchain platform, leveraging the security of UTXO while enabling multiple virtual machines including EVM. Qtum is PoS based and boasts a Decentralized Governance Protocol (DGP) allowing specific blockchain settings to be modified by making use of smart contracts. For instance, the block size of Qtum can be increased without the need of a hard fork.
What is the project trying to achieve?
Qtum is a blockchain hybrid application platform. Qtum's core technology combines a fork of bitcoin core, the Account Abstraction Layer that enables multiple virtual machines including the Ethereum virtual machine (EVM) and Proof-of-Stake consensus to address fields. use in industry. This is believed to allow Smart Contracts and Decentralized Applications to run on a familiar platform while providing a robust environment for developers. The underlying technology uses an “Account Abstraction Layer” that acts as a bridge between the EVM model and Bitcoin Core's Unspent Transaction Output (UTXO) model. There will be Oracles and Datafeed features that will allow developers to create Smart Contracts built around trusted sources.
Qtum's goal is to change the way application databases are stored. Instead of a centralized storage method on a single server, applications running on the Qtum platform will be stored in databases like on the blockchain.
What are unique selling points?
Blockchain Ready for Business
Business-friendly smart contract platform
Qtum provides a standardized, stable and safe development environment for smart contracts, enabling business-friendly smart contract coding, deploying and executing
Credible decentralized application platform
Qtum is also a decentralized application platform, compatible with existing blockchain infrastructure, and is modularized so new technology can always be added.
Enterprise blockchain services
Qtum also provides customized solutions for enterprise clients