Review of QTUM Cryptocurrency: A Symbiosis Between Bitcoin and Ethereum or Another Scam?

qtum cryprocurrency

At the moment, two coins dominate the cryptocurrency market: Bitcoin and Ethereum. The former has a more secure blockchain, and the latter is a part of a global platform for creating new decentralized projects. Each of them has its own strengths and weaknesses, but what if somebody combined these two technologies within one project? This is what the creators of Qtum cryptocurrency thought. In this article we will discuss what came out of it.

Contents:
(please, click the topic to scroll down to it)

  1. Key features of Qtum
  2. Qtum platform, is it a revolution or not?
  3. Where can I buy Qtum coins and how to store them?
  4. Conclusion

1. Key features of Qtum

Last year, the development team decided to create a platform that would compete with Bitcoin in terms of reliability and be more powerful in functionality and technology than Ethereum. They called it QTUM.

During the ICO, the project collected a little more than $16 million. QTUM coin is the first cryptocurrency in the history that is able to support both Bitcoin and Ethereum protocols simultaneously.

2. Qtum platform, is it a revolution or not?

This project is quite unique. The main feature of Qtum are the so-called master contracts, which are advanced versions of smart contracts of the Ethereum. They are able to adapt to various external circumstances. Any adjustment in the relations between the parties immediately goes to the blockchain. Any entry that got into the registry can no longer be modified or deleted, so it might be an ideal tool for business.

In order to demonstrate the working principle of master contracts, let’s review an example. Supposing there are two parties that have concluded an agreement for the sale and delivery of a certain product from point A to point B. Within the framework of a usual smart contract, the conditions would be met only if the goods arrived at point B, but the master contract is more advanced, it can react to the actions of third parties. In this particular example, the third party will be the logistics company, which takes the goods from point A, and then compiles these data in the block. As soon as the cargo is received by the carrier, the buyer learns about it and has the opportunity to monitor further fulfillment of the conditions directly from the Qtum system.

This is just one case of applying this technology, real spheres where master contracts could make a revolution are quite numerous: entertainment, telecommunications, Internet of things, smart cities and much more.

3. Where can I buy Qtum coins and how to store them?

This coin is still too young, but despite this, you can buy Qtum at a huge number of cryptocurrency exchanges. These exchanges are mostly located in Asia, but you can also find such giants as: Bytfinex, Binance, Upbit, Bittrex, etc among the general list of platforms. Qtum can be exchanged for Bitcoin or Ethereum, and it can be bought even for fiat money at a couple of exchanges (LiveCoin, Quoine, LiteBit).

Speaking about the issue of storage, it should be noted that the coin was created on the basis of the Ethereum blockchain, so you can store it on any wallet that supports Ethereum.

Of course, official Qtum wallets also exist. There are two versions:

  • The simplified version – Qtum Core;
  • The full version with the whole blockchain – Qtum Electrum.

4. Conclusion

Qtum is a young, but very promising project, the goal of which is to combine the functions and reliability of the two leading cryptocurrencies in one place. From the functional point of view, Qtum with its master contracts is much more advanced than Ethereum with its smart contracts. Master contracts make it possible to substantially simplify and improve the business relations of the parties in various fields.

The project is only one year old and has not been fully implemented yet, as the development team still has a lot more work to do. We will follow developments and share with you the latest news from the world of the cryptocurrency industry.

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Malware From The Pirate Bay May Hijack Website To Steal Crypto

The movies downloaded from The Pirate Bay bring a malware to the user’s computer. That was the conclusion reached by a security researcher, with the nickname  0xffff0800 in Twitter. He told that when he downloaded a movie ‘The Girl In The Spider’s Web’ from TPB, a .LNK shortcut with CozyBear malware got to his computer.

However, the Cozy Bear malware is just a decoy, the real thing that brings damages is Powershell commands. Once the malware reaches the computer, it carries out malicious actions, like disabling Windows Defender and installing viral extensions in Firefox and Chrome browsers. Moreover, it edits the appearance of the website on the user’s computer.

The movie is an application itself which links the computer to the external malicious servers.

Source: Bleeping Computer

Moreover, the newly installed viral extensions can modify the JavaScript code and add some advertisements to the main page, like it is shown below.

Source: Bleeping Computer

What is the most dangerous is that the malware can edit the appearance of the web page and add or change the information without the user’s awareness, this ability allows the malware to steal the crypto. For example, if the user open Wikipedia page on a compromised system, he/she is likely to see the message saying “Wikipedia now accepts donations in form of bitcoin” and a ‘DONATE’ sign. All the donations will go to the hacker.

Source: Bleeping Computer

In addition, the malware is able to change crypto wallet addresses provided on the pages. Unfortunately, you will not even notice how the hacker stole your money.

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Cryptocurrency Prices Today, January 18: Cryptocurrencies Are Relatively Stable

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coingecko online platform, Bitcoin (BTC) added 1% over the past 24 hours. The price at the time of writing is $3611 per coin.

Cryptocurrencies are demonstrating both slight increase and decrease:

Bitcoin Cash added 0.61% over the past 24 hours and costs $129 per coin;

Ripple grew by 0.21% and costs $0.32;

EOS increased by 2.72%, and its price is $2.51;

Litecoin gained 1.1%, and its value is $31;

Cardano added 1.62%, and its cost is $0.046;

Stellar gained 2.44% and costs $0.10;

IOTA increased by 5.41%, and its cost is $0.31;

Dash grew by 2.21%, and its price $72;

Monero became more expensive by 0.35% and costs $45.

Over the past 24 hours, Ethereum added 0.66%. The rate of the coin is $123.

The total market capitalization is $122 billion. Bitcoin accounts for 52.4% of the total volume. In monetary terms, this is $64 billion.

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BitPay Transactions Surpasses $1B in 2018, B2B Payments Records 225% Increase

BitPay is a US-based bitcoin payment provider which has recently announced its financial results of the past year. The company has processed over $1 billion in transactions alone. Moreover, its B2B payments record 225% increase in compare to 2017.

The main reason of such a lift-off is that Bitpay added a lot of new clients, like Dish Networks, HackerOne, and the State of Ohio, as well as many other law firms, data center providers, and IT vendors.

The CEO of BitPay, Stephen Pair, commented on this development:

“BitPay’s B2B business continues to grow rapidly as our solution is cheaper and quicker than a bank wire from most regions of the world. To process over a $1 Billion for the second year in a row despite Bitcoin’s large price drop shows that Bitcoin is being used to solve real pain points around the world.”

BitPay mostly supports Bitcoin transactions, however, it also supports payments with Bitcoin Cash, Gemini, and Paxos. During that year a lot of companies had to lay off their employees due to the market situation, yet, Bitpay conversely increased its manpower by 78 percent in the past year.

In addition, BitPay is attractive to the investors, in 2018, it raised $40 million in Series B funding round taking the total raised capital to $70 million.

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Cryptocurrency Prices Today, January 17: Cryptocurrencies Are on the Border of the Red and Green Zones

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) lost 0.8% over the past 24 hours. The price at the time of writing is $3582 per coin.

Some cryptocurrencies slightly decreased, others added in price a little:

Bitcoin Cash lost 2.6% over the past 24 hours and costs $126 per coin;

Ripple dropped by 1.1% and is $0.32 in rate;

EOS added 0.34%, and its price is $2.44;

Litecoin decreased by 2.66%, and its value is $30;

Cardano grew by 1.3%, and its cost is $0.044;

Stellar fell by 1.73% and costs $0.10;

IOTA lost 3.42%, and its value is $0.29;

Dash dropped by 0.52,% and its price is $71;

Monero became more expensive by 1.21% and costs $45.

Over the past 24 hours, Ethereum lost 2.17%. The exchange rate of the coin is $121.

The total market capitalization rose to $121 billion. Bitcoin accounts for 52.4% of the total volume. In monetary terms, it is $63 billion.

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Crypto Exchange Bittrex Partners With Bitsdaq To Conquer Asia Market

One of the biggest US-based cryptocurrency exchanges, Bittrex, announced that it was partnering with Bitsdaq to open a special trading platform in Asia. This platform will provide different digital assets to the Asian investors.

Moreover, Bitsdaq will operate on Bittrex technology and will be built based on Bittrex’s experience in the blockchain.The platform will allow users to trade various digital tokens, including tokens a available on the Bittrex exchange.

The Chairman and CEO of Bitsdaq, Ricky Ng, said:

“We are honored to bring Bittrex’s extensive cryptocurrency options to the Asia market.….It takes a unique combination of advanced technology and financial expertise to launch an efficient, reliable and secure platform for trading digital assets in Asia. We found the ideal partner to help provide a safe environment for our customers and the entire community.”

In accordance with the statement, the Bitsdaq platform will control a lot of things connected to the management of the platform, such as customer support, marketing, sales and customised development. In addition, it will take care of customer operations.

The day of the launch is yet to be announced, though customers can pre-register for an account on Bitsdaq’s website.

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Coingecko Publishes Its Annual Crypto Report for 2018

The online platform Coingecko published it crypto report for the passed year of 2018, where it analyzed the most important events in the crypto industry, including the market trends, crypto thefts, ICO news, stablecoins, Bitcoin Cash wars etc.

As for the market tendencies, there is no doubt that 2018 was the year of collapse. The total market capitalization decreased by whopping 78.85%, with the main period of decrease falling onto Q4. Meanwhile, the trading volumes remained quite stable.

Regarding the top-5 coins in the rating, they decreased as follows:

  • BTC – by 73%;
  • XRP – by 82%;
  • ETH – by 84%;
  • BCH – by 93%;
  • EOS – by 66%

The largest crypto exchange by the end of 2018, according to the trading volumes, turned out to be Bithumb, followed closely by ZB.com and Binance.

As for stealing cryptocurrency, the estimated money loss from criminals and scammers amounted to around $867.45 million. The biggest crypto theft was Zaif hack which took place in September and resulted in the theft of $23.5 million.

The most popular blockchain platforms for creating decentralized apps became Ethereum, EOS, Steem and Tron.

The synopsis of the stablecoin development in 2018 looks the following way:

Thus, we can definitely see that though 2018 was a hard year for crypto and there were much more downs than ups, the industry is still afloat and developing. Hopefully, 2019 will be a better year.

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