Qtum(QTUM)

Overview

Qtum is an open-source smart contract platform launched in 2016 and built as a fork of Bitcoin Core. It combines Bitcoin's UTXO transaction model with an Ethereum-style virtual machine, using an Account Abstraction Layer (AAL) that allows Turing-complete smart contracts and decentralized applications to run on top of a UTXO-based chain.

The network uses a proof-of-stake consensus mechanism, in which node operators participate in block production and transaction validation and receive rewards for doing so. Qtum also includes a Decentralized Governance Protocol (DGP), which lets community participants vote to adjust certain network parameters such as block size and gas limits without a hard fork. The QTUM token is used to pay network fees and to participate in staking.