Qtum (QTUM) is among the top 30 crypto coins in market cap as of press date. The altcoin’s focus is on decentralized applications while maintaining an open-source protocol for value creation. The idea of the project is to solve the existing inefficiencies found in the two popular digital coins; BTC & ETH. The former was developed as a platform for value transfer while the latter introduced the smart contract capabilities to the crypto arena. Qtum whose developments are Singapore based has incorporated both capabilities within its network making it DApps & smart contract compatible. In addition, the platform serves as a protocol for the transfer of value.
Identity Startup ‘IAME’ Qtum Collaboration
The true reflection of crypto projects at the moment is mostly guided by the adoption rate and strategic partnerships specifically. Qtum recently broadcasted some good news for its community following the IAME selection of this platform. This came as a surprise to a majority of the crypto community whom expected ETH to be a potential in this field.
Qtum have capitalized attention from thus move and even went ahead to use marriage to describe the level of trust IAME has shown. For this Identity Startup to base their operations on the Qtum platform it means placing its future on Qtum’s prospects. The news is quite huge for both players and with the rally in crypto right now, QTUM might over sell in the near future.
IAME’s objective in the crypto arena is to personalize the verification of users as peer to peer transactions take place on blockchain platforms. It simply means that confidential information won’t have to be disclosed unless necessary. Also, it will ensure crypto users are not coned into illegal activities which might compromise them later.
Qtum (QTUM) was not randomly selected as the preferred platform by IAME rather some of its qualities made the project stand out. The network has the ability to handle a significant amount of tps, the Proof of Stake protocol and its X86 Virtual Machine. Ideally, one is required to download the entire blockchain in order to run a full node within the smart contract operation. It means that this is not feasible in mobile platform which is why Qtum emerged as a better option to Ethereum.
QTUM X86 VM
Most ICO’s have opted to run their coins on the ETH platform as they develop their own mainnets hence the popular ERC20 standard. Qtum is among the coins currently relying on the ETH technology, the platform runs on an upgraded Ethereum Virtual Machine. Basically, Qtum users are able to use their own smart contracts with the assistance of Ethereum’s tech.
However, things are about to change for this project and most developers are likely to gravitate towards Qtum (QTUM) platform in future. This is because Qtum’s X86 is set to replace the Ethereum Virtual Machine hence giving the flexibility of writing smart contracts in your preferred language. A few of the languages known to be compatible so far include C++, Python and C#. Qtum speculates that by allowing developers to use their own code it will reduce the redundant procedures leaving more space for computation.