What is Qtum?

Qtum is a decentralized smart contracts platform that utilizes a proof-of-stake consensus mechanism, allowing node operators to earn rewards for validating transactions. It is governed through a decentralized governance protocol, enabling community members to vote on network parameters. Built on a Bitcoin core fork, Qtum combines features from both Bitcoin and Ethereum to support smart contracts and decentralized applications. The platform uses Bitcoin's UTXO transaction model and provides a Turing-complete blockchain stack.

The project was co-founded by Patrick Dai, Neil Mahi, and Jordan Earls, with a team comprising individuals from both the Bitcoin and Ethereum communities, as well as professionals from notable companies like Tencent and Alibaba. Qtum's crowdfunding campaign raised a total of approximately $15.7 million, distributing 51 million tokens to the public and allocating the remaining supply among community incentives and early backers.