Question Details

	Username: LuckyWoman Rating: Asked to: Jun Wang Date Created: 22 Jun 2018
Category	28
Tag	Financial
Question	Please give the definition of 'Qtum'.

Advice from Guru

Hello LuckyWoman,

Qtum is a cryptocurrency that combines ethereum’s smart contract functionality with bitcoin’s security to create a coin that is suitable for adoption by large organizations.

According to the whitepaper released by its founders, Qtum is the first “UTXO-based smart contract system with a proof-of-stake (PoS) consensus model.”

In simple terms, this means that it adds unspent coins from multiple transactions into the user wallet and selects the next creator node based on the amount of coins held by each node. This helps accomplish two objectives. The first one is security.

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