The smart contracts space is crowded at the moment with multiple projects coming up. However, the most visible among them are Ethereum, NEO, EOS, Cardano and, Qtum (QTUM). EOS, Cardano and Qtum are what you would refer to as Blockchain 3.0. In other words, they are taking blockchain technology to the next level. Ethereum can be considered a blockchain 3.0 project too, if it were to implement updates that make it more scalable and secure. However, before it does that, let’s focus on these three top contenders for blockchain 3.0, then you will understand why Qtum has an edge over Cardano and EOS.
Firstly, Qtum is using tried and tested technologies. New things are always good to try out, but the reality is that there are no guarantees that they will work. In this case, Qtum makes use of the tested bitcoin an Ethereum technologies. Qtum is basically a combination of bitcoin’s UTXO and Ethereum’s account model. This is a model that has already been tested and shown to work, in creating smart contracts at scale. The same cannot be said of Cardano and EOS. Both are works in progress, and are yet to be tested. By the time they get any real tests in the smart contracts space, Qtum will have already entrenched itself in this space. It’s the same way that bitcoin has entrenched itself in the crypto market, even though there are multiple projects that are way better than it.
The other factor that gives Qtum (QTUM) an edge in the market is the presence of an alliance that makes it accessible to institutional players. For instance, Qtum is a member of the Trusted IOT Alliance. Through this alliance, Qtum stands a good chance that Qtum will continue to gain acceptance by industrial players looking to make use of smart contracts. As a matter of fact, Qtum is already being used on a number of projects and it has not shown any weaknesses, unlike Ethereum, which has already been shown to have a scalability issue. The same cannot be said of EOS and Cardano. These two are yet to get any major projects running on them. That’s a pointer to the strong headstart that Qtum has, as a blockchain 3.0 platform.
The other factor that gives it an edge over EOS and Cardano is the fact that is independent of the internet. Qtum has its own satellites that make it accessible from any location on the planet, irrespective of whether there is internet or not. This gives Qtum a major advantage in the race for adoption when compared to its two main rivals.
With the advantage that it has in this market, you can expect the value of Qtum (QTUM) to keep growing over time. If Ethereum with its flaws has managed to hit $1000 and above, there is no reason why a fundamentally stronger project like Qtum can’t hit similar heights in the future. A valuation of $100 is possible in the medium-term.