The current blockchain problem
The number of blockchain users has been growing over the years, but the traditional blockchain infrastructure has not kept up. For instance, one of the biggest flaws of the current public blockchain infrastructure is that it places all information on the public ledger for verification. While this is a great thing, it puts off major corporations from using it, because they are uncomfortable with exposing their data.
The bitcoin blockchain ledger is a good example of a ledger that exposes all information for public verification. But this is not the only problem that blockchain technology faces. There is also the problem of scalability. Most major blockchain projects just can’t handle large amounts of transactions. Ethereum, the most popular smart contracts blockchain has faced some serious scalability issues, and attempts to resolve them have not borne much fruit.
The solution to the current blockchain problem of security and scalability lies in hybrid blockchains. So what is a hybrid blockchain? Simply put, a hybrid blockchain takes the best of public and private blockchains and combine them into one. This way, transactions can stay private, but still remain verifiable on the public ledger. Contracts too can be scaled, without compromising on security. This makes hybrid blockchains perfectly suited for adoption in the business world, especially in the deployment of large-scale projects such as international logistics. One hybrid blockchain that is blazing the way on this front is Qtum (QTUM).
One of the greatest strengths of the Qtum (QTUM) blockchain is that it is highly scalable, as compared to Ethereum. That’s because it makes use of a prove-of-stake algorithm in running smart contracts. This scales more efficiently that the proof-of-work protocol that is used by Ethereum. While Ethereum has been trying to shift towards prove-of-stake, it has faced delays. This means that Qtum has an advantage on this front, and will easily dominate smart contracts with its hybrid infrastructure. This gives Qtum a great future in the enterprise applications space, and that’s where its future value will come from.
Qtum also takes bitcoin’s core aspect of security, and when combined with Ethereum’s virtual machine, it allows developers to transfer their projects from Ethereum to the Qtum project. The ability to port projects from Ethereum to the more efficient and secure Qtum blockchain is a major plus for the future of Qtum, and will give it a leg-up, in the yet to fully develop area of hybrid blockchains.
What’s the future of Qtum?
The fact that it takes the best of Bitcoin and Ethereum, makes Qtum (QTUM) a fundamentally strong blockchain, which will increase in value as blockchain technology gains acceptance in the market. Besides, Qtum has an on-chain structure that allows it to be scaled infinitely. This will draw in more developers in the long-run. Value-wise, $100 is probable within 2018. The fundamentals are just right, all it will take is a change in the market direction, and Qtum (QTUM) will rise.