QTUM to Fiat Converter

Qtum is a decentralized blockchain network that combines elements of Bitcoin and Ethereum. It supports smart contracts through the Ethereum Virtual Machine (EVM) while utilizing Bitcoin’s UTXO model for transaction processing. The network operates on a proof-of-stake (PoS) consensus mechanism, ensuring decentralization without the need for masternodes or delegated validators.

Participants can engage in transaction validation with just an internet connection and a device capable of running a node—no minimum coin holdings or voting for centralized validators is required. Qtum targets an average block time of 32 seconds, with each block capable of storing up to 8000kb of data. By integrating SegWit, the network can handle around 1100 transactions per second. Additionally, Qtum’s compatibility with Bitcoin’s architecture allows for potential Layer 2 scaling solutions, such as the Lightning Network, to further enhance throughput.

Qtum supports multiple token standards, including its own QRC-20 (similar to Ethereum’s ERC-20) and qBRC-20 (an adaptation of Bitcoin’s BRC-20). The platform also facilitates NFT functionality, offering developers broader capabilities than standalone Bitcoin or Ethereum implementations.

For a detailed exploration of Qtum, visit DroomDroom’s analysis.