Qtum is trading in the red zone, down by 6.09%.
Qtum (QTUM) is a crypto to hold at the moment and it will bring you gains, say the analysts. Qtum hasn’t had the best of runs in the market despite Bitcoin making gains during the current week.
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A lot has been happening at Qtum as it focuses on improving its blockchain and accelerates its development in DeFi. Recently, Qtum highlighted that it is set to the hard fork in about 5 to 6 weeks to speed up its ecosystem.
Qtum’s founder, Patrick Dai tweeted:
“Qtum will have a hard fork in 5-6 weeks to accelerate Qtum up.”
What’s Next?
Qtum’s focus on DeFi has increased as it’s the top priority for blockchain projects at the moment. On October 19, 2020, Qtum published QIP-26 to reduce block spacing. The primary objective of this proposal is to limit the spacing between blocks that helps in accelerating transactions, confirmations, and smart contract responses such as DeFi.
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The crypto market deity Bitcoin has proven that it’s here to stay. The market has attracted more investors in the past six months than ever before. The adoption of Bitcoin by PayPal, the leading payment network was a big breakthrough in the FinTech world. In that premise, Qtum is always keeping up with the latest blockchain—aligning with Bitcoin. As of Dec 2020, Qtum was up-to-date with Bitcoin’s latest release of version 0.20.1.
Moreover, the QIP-26 after four months is entering a new phase where the nodes will operate with 128-second average block spacing and 16-second intervals. This reflects a 4 times faster block speed than that of the initial launch on Oct. 19, 2020.
Another big news that will help Qtum to grow its network in the long-term isits collaboration with Blockpass. The partnership between two blockchain platforms is to deliver on-chain Know-Your-Customer (KYC) services. As per the agreement, Qtum will be providing subsidies to “specific” members wanting to obtain regulatory compliance via Blockpass’s On-chain KYC solutions.
The innovation and blockchain benefits of Qtum have attracted Blockpass to utilize its services as a KYC. The CEO of Blockpass, Adam Vaziri stated that they have been fans of the QTUM team and network for a long time. They’re looking forward to working with such an innovative team to find the possibilities and solutions of On-chain KYC to developers and users alike.
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Conclusion
Qtum (QTUM) is dropping drastically and certain investors are impatient to know what’s the future of Qtum. The digital asset is having a bad day but analysts believe that investors need to be patient and hold the digital coin. Qtum team is making major alterations to speed things at QTUM.
