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Qtum is Fast, Green, Stable, and Decentralized. It's a scalable Proof-of-Stake platform that allows developers to leverage the upstream benefits of Ethereum and Bitcoin.
Consensus mechanism-
It uses consortium blockchain consensus algorithms such as DPoS and tendermint for voting super nodes. They have implemented a Scalable Consensus Algorithm mechanism (SCAR). There are three steps in SCAR
Count all votes to get super nodes
It calculates the block interval according to the network load.
The block is generated according to priority.
This algorithm helps to reduce transaction confirmation time bandwidth and hard disk pressure.
Qtum's technology comprises major components:
Account Abstraction Layer (AAL) -It helps to interact with the UTXO model and the Accounts model.
Decentralized governance Protocol- It allows specific blockchain settings to be modified by making use of smart contracts. Block size can be increased without the need for a hard fork.
Qtum's 'main features -
Transaction per second 1100
Block time- 2.5 min
Qutum new token standards-
The Qtum blockchain uses new token standards QRC-20 and QRC721 similar to ERC 20 and NFT functionality token QRC1155.
QTUMUSD prices are trading in a narrow range between $3.599 and $2.875 for the past seven weeks. It hit a high of $3.56 and is currently trading around $3.388. The pair is holding above the short-term (21 and 55-day EMA) and above the long-term moving average (200-day EMA).
The near-term resistance is around $3.60, any indicative breach above will take the pair to $4.10/$4.35. On the lower side, immediate support is $3.25, and any violation below targets $2.75/$2.30.
Indicators ( Daily chart)
CCI(50)- Bullish
Directional movement index - Neutral
It is good to buy on dips around $2.80 with SL around $2.30 for TP of $4.35.
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