CRYPTANALYSIS - HOUSE VIEW ON KEY ALTCOINS

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63. QTUM (Published: 19th Oct, 2017)
Qtum is a fork from Bitcoin that can interact with Ethereum. It aims at making blockchain technology easy for businesses, so as to build decentralised applications on mobile devices utilizing the existing major blockchains. The Qtum blockchain will run with a PoS consensus.The core technology of Qtum consists of the Decentralised Governance Protocol (DGP) and Account Abstraction Layer (AAL). Anticipating the high possibility for future forks, the DGP allows the blockchain to adjust its parameters via a specifically designed smart contract so that users, stakers, and node operators will not be intervened whenever there is a fork. Meanwhile, AAL is a bridge between Bitcoin’s UTXO and Ethereum’s Virtual Machine (EVM) that allows Ethereum’s smart contracts to be executed on the Bitcoin blockchain.

Other features include quick integration of new future upgrades on the Bitcoin blockchain, SPV support for light and fast client on mobile devices, possibility to replace EVM for better virtual machines, and Oracle and Datafeed functionality.Qtum has 3 co-founders, including Patrick Dai, Neil Mahi, and Jordan Earls. Patrick was previously working in Alibaba but switched to work in the blockchain industry. Neil has 20 years of software development experience and 4 years of blockchain technology experience. Jordan is a self-taught programmer since he was 13 and he is a well-known and trusted member in the cryptocurrency community.In addition, Qtum has some significant investors, including Roger Ver (first major investor in bitcoin startups), Xu Star (CEO at OKCoin), Anthony Di Iorio (Co-Founder of Ethereum and CEO of Jaxx), and more.

The Qtum mainnet was released on 13 Sep 2017, which aligns with their roadmap. According to the same roadmap, a WeChat wallet and an email integration will be released in November, which will be a great milestone for the project if these applications can actually demonstrate Qtum’s potentials. The technology of Qtum looks promising, and the team is huge with a lot of experienced developers. For cryptocurrencies, the key for the long term success is mass adoption, and Qtum has both the vision and capability to achieve it. It would be interesting to see how well their demo applications perform, and if they can get more significant partners to drive the adoptions. There has been fierce competition for “mass adoptions” or “make blockchain easy for businesses/ users”, but in the end of the day only one or two platforms will win the race, which is the risk of investing in this kind of projects.

The progress of Qtum has been very consistent and it is very competitive in the market place. As mentioned above, it will release the WeChat wallet and email integration in November. Right before the release, there will be speculations on it and drive up the price. Hence it is recommended to buy it earlier, and sell at the peak when the applications are released, or keep holding for a larger growth as the project is also striving for a long term success.

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