What’s Going On With Qtum (QTUM)? June 2018

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Qtum prices have declined like most of the other cryptocurrencies in the market.

Its value has dropped from $14 on May 24 to the current prices about $8.80 against the US dollar.

Despite the poor market performance, Qtum is in a very good position to be great in the near future.

Here’s what has been going on for this exciting project.

Network Growth

Qtum now has about 7,000 PoS full nodes spread around the globe. In comparison, only Bitcoin with 13,000 full nodes and Ethereum with 20,000 possess more.

The growth of the network will likely move it even further, surpassing the leading two in coming days.

It is exciting for any Qtum holder because their partnership with Baofeng promises to make it the leading blockchain with a robust network.

According to Patrick Dai, the CEO, and founder, “Baofeng will help Qtum to deploy 50,000 full nodes in one or two years; they will start deploying all the Qtum full nodes in China,” he reveals.

“If the Qtum platform can have 50,000 full nodes, it will become the most decentralized platform, vis-a-vis Bitcoin that has about 10,000 full nodes, and Ethereum that has 20,000 full nodes.”

Preferred DApps platform

It is clear that as Qtum’s nodes increase, so does its security, network stability, and readiness for more growth.

The result is that this platform could rival the best of the dApps platform Ethereum.
Already projects are looking to launch on the Qtum blockchain due to its strength.

Recently, IAME announced that they’d be moving off the Ethereum blockchain to the Qtum network.

Qtum has well over 50 decentralized applications (dApps) in various fields like energy, supply chain, IP & copyright, online streaming, aerospace technology, and the Internet of Things [IoT].

There’s more in the pipeline. According to the Qtum Foundation, “(QTUM) has reached remarkable heights in one year, and now hopes to move the bar up with some new projects.”- QtumOfficial

High profile partnerships and investors

One of the vehicles to drive adoption is through strategic partnerships. Qtum has that in the aforementioned Baofeng group.

Among the others, the one that could stand out is the latest one involving Chinese giant Qihu 360.

With over 900 million users, the software security company is the ideal partner to see the crypto move into decentralized computing and cloud storage as well as bring more dApps developers to the blockchain.

The partnership will see Qihu 360 explore the Qtum platform to create more diversified applications and eventually push for the adoption of the X86 Virtual Machine.

To illustrate the fact that Qtum was destined for great things, it has attracted one of the top cryptocurrency investors.

This is none other than Ethereum co-founder Anthony Di Iorio. He’s quoted to have told Bloomberg that he’s eyeing Qtum as an investment opportunity.

This is an endorsement of the crypto’s growing influence in the blockchain.

Marketing

Qtum (QTUM) made a statement of intent in early June: as part of its plans for expansion, it would be embarking on an aggressive marketing approach.

Towards the end of 2017, the Qtum team scaled down on marketing and chose to concentrate on development aspects of the blockchain.

Fast-forward to 2018 and the platform has now embarked on a strategic approach to gaining global adoption. Dai has emphasized on this by saying:

“We’ve been focusing on building the very best technology this year. But we realize we have not put enough effort into marketing and community management recently. We are working on this and will push Qtum once again to massive adoption.”

The dedication only but highlights the platform’s strengths, and will only help bring more users and developers.

Qtum’s smart contracts platform is likely to continue seeing further interest as more developers learn about its strengths.

It has an on-chain throughput of 70TPS and will scale to over 20,000TPS when off-channels launch. In the end, we could see an increase in demand for the coin’s underlying currency.

Prices may be tanking, but with such growth projections in place, it’s easy to see why this could be the next big thing.

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