Qtum is a public blockchain that combines the versatility of Ethereum and the security of Bitcoin in an attempt to create a new blockchain that overcomes the limitations of existing networks. The blockchain was created in 2016 by Patrick Dai, Jordan Earls, and Neil Mahl.
The architecture of Qtum consists of three layers:
- The base layer, where the unspent transaction output (UTXO) of Bitcoin keeps records of the network addresses.
- The Account Abstraction Layer (AAL), the secret sauce of Qtum, where the other two layers are communicated.
- The Virtual Machine (VM), where smart contracts run.
Moreover, the blockchain uses PoS, unlike Bitcoin and Ethereum in 2016, which means better speed and stability. Indeed, Qtum claims that their block size can increase without hard forks.
QTUM is the native governance and utility token of the Qtum blockchain. At the beginning, QTUM had a maximum supply of 100,000,000, but afterwards, new QTUM tokens are minted at every block.
The current maximum supply of QTUM is 107,822,406.
The current circulating supply is 104,377,059.50.
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