Qtum Casino Sites Best QTUM Casinos of 2023

Qtum is a blockchain that has QTUM cryptocurrency. It is mainly used for paying fees on the blockchain. You can also use the token for staking and voting. Users who hold more tokens have more voting power. Qtum blockchain also has two technologies that help with interoperability, cost, governance and overall blockchain stiffness: They are account abstraction layer (AAL) and decentralized governance protocol (DGP).

DGP allows smart contracts to change the specifications of the networks such as block size and fee without the need for a major update, while AAL allows users to build dApps that have greater adoption than most.

On top of that Qtum also has its own wallet which allows users to operate with their assets more easily.

1. Decentralization: At first Qtum was released as an Ethereum ERC-20 token, but it soon transitioned to its own modified proof of stake blockchain with a goal of bringing the good qualities of Bitcoin and Ethereum blockchain together. It operates with Bitcoin’s UTXO transaction model, can execute smart contracts and host decentralized applications.
2. Safety: Qtum is protected by the mPoS system, which is a modified version of the proof of stake 3.0. Version 3.0 of the proof of stake mechanism has enhanced consensus mechanism for awarding and verifying blocks. In addition, it also improves security and strengthens the overall peer to peer blockchain network. The rewards for blocks are constant and do not depend on the age of the coin for determining how likely you are to get it; they are spread proportionally to the stake. Furthermore, the protocol is protected by splitting 10 % of the reward between the miner who created the block and the previous nine. The rest of the reward is delayed by 500 blocks in the future.
3. Scalability: Qtum has an advantage to other cryptocurrencies regarding scalability, because it can adjust the block size, depending on the demand. It can host around 1,100 transactions per second, while Ethereum and Bitcoin blockchains can only host 15 and about 4.6 transactions per second. This makes the Qtum blockchain as a whole very scalable.

Fees are determined by the demand for block space and by the transaction data size, as is the case for most cryptocurrencies.

Qtum uses a decentralized governance protocol which is able to adjust block sizes, depending on the network’s demand. 1 block is usually set to 2 MB, however it can be automatically set between 0.5 MB up to 32 MB via the DGP technology. This allows the blockchain to have much lower fees. The fees are currently around 0.004 QTUM, although they fluctuate according to the network’s congestion.

Qtum hit its peak in the beginning of 2018, when one coin was valued at approximately $94. The value of the coin has since dropped significantly. One coin is now worth only $5.5. The fees are currently very low. They were low even during the crypto’s peak when compared to other, more popular blockchains such as Ethereum.

Qtum has its very own wallet where users can mint, trade and store Qtum NFTs.