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    Qtum News

    Among the many different blockchains, Qtum is known as a scalable blockchain because the project uses a proof-of-stake (PoS) consensus mechanism. PoS enables the development of a fast and sustainable blockchain, allowing the project to combine the advantages that blockchains like Ethereum and Bitcoin offer. Moreover, the team at Qtum aims to develop a blockchain that can be used by various industries, such as finance, gaming and social networking.

    The Qtum blockchain uses the QRC-20 token standard, which is similar to Ethereum’s ERC-20 token standard. Here, QRC stands for “Qtum Request for Comment,” and 20 is the number assigned to this request. Additionally, Qtum features a decentralized governance protocol (DGP), which allows specific blockchain settings to be changed by deploying smart contracts, such as altering the block size of the blockchain without needing a hard fork. Decentralization is a priority for the Qtum blockchain because it doesn’t facilitate central servers, censorship or repudiation. Instead, it is an entirely trustless, permissionless, open-source, high-speed platform.