$ 2.06 (-0.87%)
Qtum (QTUM) - Historical Price Chart
About QtumMake a Suggestion
Qtum is a blockchain technology and cryptocurrency designed to facilitate the interoperability of major cryptocurrencies such as Bitcoin and Ethereum, as well as to make smart contracts more secure and easier to handle. The project is being developed by the Singapore-based Qtum Foundation. Its CEO is Patrick Dai.
Most cryptocurrencies constantly create new units in a process called mining. Since this process is very expensive, [the] majority of the people running this operation constantly sell newly created coins to cover their expenses. This creates downward pressure on the price and new money has to flow into the market just to keep the price at the same level.
We put this process in reverse. Quantum tokens are destroyed constantly and the amount of units in existence decreases over time. Just as mining of other currencies creates downward pressure, Quantum destruction process puts upward pressure on the price. This process causes the value of Quantum tokens to increase over time even without fresh money flowing into the market.