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Qtum Price Prediction For 2021

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QTUM Price Prediction

For a protocol that emerged some years back, this crypto is gaining attention gradually due to its unique offering. It was initially dubbed the end of Ethereum but the protocol has evolved to combine the best of Bitcoin and Ethereum. This crypto protocol gives the functionality of the Ethereum network and delivers on a similar security level of Bitcoin, which makes it an ideal coin for a large organization as well as individuals.

Despite difficulties along the way, the Qtum network has emerged as an exciting project worth watching out for by investors. Its price in the market is something would-be investors will be keen to follow up and it is why price prediction will come in handy for the sake of monitoring and decision-making. Qtum price prediction for 2021 will help investors know the direction the token is likely to take in terms of price. Is it going to be upward or downward?

Explaining Qtum

Qtum is a fork of the Bitcoin chain meshed together with Ethereum’s Virtual Machine (EVM). It has been around for a while and it is pronounced as Quantum. The result of this unique combination gives us a blockchain that bridges the space between Ethereum and Bitcoin using a technology called Account Abstract Layer (AAL).

Talking of a smart contract network based on UTXO that uses mutualized proof-of-stake mechanism, Qtum is considered the first to do that. For starters, Qtum is designed in such a way that unused tokens from several transactions are sent to the user wallet then the next creator node is chosen based on the token amount that each node has. Doing this helps achieve two things and that is easy mining and security. Ethereum has shown to be vulnerable to hacks over time. The same thing can’t be said about the Bitcoin network, which is pretty secure.

However, Bitcoin uses proof-of-work, and that quite resource-intensive making mining hard and power-consuming. On the other hand, the proof-of-stake consensus model makes creating a new block that simple, easy, and less power consuming. To sum it up, Qtum employs Bitcoin’s principal code that is built on the UTXO model and runs that on a machine using EVM. To bridge the communication between the two that is where AAL comes in. To encourage wider adoption of Qtum, its developers aim to build a smart-contract specifications layer, which will give it improved security in contrast to the same layer found on Ethereum.

Background of the Project and the Team

Jordan Earls and Patrick Dai created the Qtum protocol, and it is Singapore-based. It was developed as early as 2016 but introduced in September 2017. Patrick acts as the Head of the Qtum Foundation. He started as an employee at Alibaba and delved into lots of blockchain projects such as Vechain, Meilink, etc. before settling on Qtum. We have two other co-founders in the form of Jordan Earls who is the lead developer and Neil Mahi who is the blockchain architect. The protocol is reported to be backed by several high profile investors like Jeremy Gardner co-founder of EIR and Augur as well as Roger Ver from Bitcoin.com

QTUM Token

The Qtum has its utility token (QTUM) that can be used on the network by developers and businesses to access services offered by the protocol. The price of the token grows as its adoption and general demand grows. The token is used in carrying out transactions via smart contracts, execution of code, creating and provisioning decentralized apps.

The Qtum whitepaper describes the token distribution with 80% of the total token supply made available to the community. The remaining tokens are shared between the early backers, dev team, and founder. The ICO for the token took place in 2017 and ended up selling $15M worth of tokens at $0.3 per token.

The Vital Services Provided by Qtum

There are various vital services provided by Qtum that can make it enticing for individuals and businesses thereby raise the adoption rate of the blockchain and as a result, drive up the price of its token. We will discuss three vital services below:

Oracles

This service allows external third parties that are trustworthy to generate off-chain calculations and information. These third parties also help to compute and monitor the smart contracts on the chain. The presence of these oracles allows for an extra layer of trust and increased security for smart contracts.

Mobile Applications

On Qtum, you can also manage smart contracts from mobile phones and that was thought as unachievable in the past and still at the moment very hard to do. However, Qtum beat this by utilizing light clients. We have Qtum Mobile and Qtum Wallet under this service.

For Qtum mobile, we have the Qtum Mobile Client for Smart Contract Execution. It is a model that allows Qtum to operate nodes, which don’t have to store a full blockchain history instead of keeping just the most relevant and recent history for blockchain participation. This is combined with Bitcoin’s Simple Payment Verification that enables wallets to carry out transaction confirmation and not needing to validate the full content of the transaction. This makes the improved speed of transaction over little computational power such as mobile phones possible.

Qtum Wallet

The Qtum Wallet is the native wallet of Qtum designed for its users. The protocol can imbibe some distinctive features to the wallet and it is designed to be fully operational on mobile devices. As well as the ability to work directly with Qtum’s smart contracts.

Qtum Unita

This is meant to enhance the reputation of the Qtum chain further. It is more or less like a new version of Qtum that uses a scalable consensus algorithm known as SCAR, which is created upon other existing Qtum services.

SCAR is meant to preserve significant resources on the network like bandwidth, storage and at the same time building automated storage for information and transfer protocol that can make about 10,000 transactions in a second. This new service is deployable with a single click of the button. It offers cross-chain transactions, data management among other offerings, which will enable big businesses to carry out millions of transactions per day. The protocol will afford users the ability to store confidential information safely and securely on the permissioned Unita chain and transfer it as deemed fit to a public chain.

Qtum Price Prediction for 2021

Qtum-usdt-chart-daily

Qtum has also experienced a boost of the bullish market this year and it has seen a steady gain in the market with an increase in the price of its token. The question remains how far the token will go in 2021. Qtum’s price forecast for 2021 can give us an idea. Let’s examine some of the predictions we have from several analysts and observers.

Qtum Prediction by Digitalcoin

Experts at Digitalcoin are projecting the token to rise. The prediction is that by the end of 2021, we could see Qtum rising to $9.92 that is a 65.09% change in price. They based their prediction on historical data of Qtum performance in the market and their estimation is not pointing at any major downward movement of the token in 2021. Expectedly there will be ups and downs in the price due to market forces but the trend is generally positive for the token.

Altcoinbuzz’s Qtum Forecast for 2021

In their prediction made earlier in February, they analyze that if Qtum could break through the resistance zone at $9.9, the token price could move upward to reach as high as $15. As of then Qtum just broke through the $4.2 resistance, which saw it reach as high as $7.78 in February. So, it looks likely that the token could eventually reach around $9 in 2021.

Coinarbitragebot’s Qtum Price Prediction

Another prediction from Coinarbitragebot suggests that Qtum could reach as high as $15.63 by December 2021 going by the token historical data on price. This is quite similar to what we have at Altcoinbuzz, which also positions the token to reach that height in the market.

Qtum Price Forecast for 2021 by Tradingbeasts

Using historical data together with linear and polynomial regressions, Tradingbeasts analysts are predicting the token to experience a minimal rise to reach just $6.61 by 2021 end. Their prediction is a bit cautious compared to the others so far.

Will Qtum Come Close to $100 Again?

Given that Qtum once reaches $94, many wonder if the coin can reach that height again or even surpass it in the future. However, the current market conditions do not suggest that it is a possibility anytime soon.

Is Qtum Going to Crash?

No, a look at the nodes on the Qtum network suggests that the protocol has a sizable community driving the protocol. Although the number of DApps on its blockchain is still small, however, there is a strong developer community behind it.

Qtum: Is It a Scam?

No, the project has solid backing as well as partnerships with key brands such as Internet Security Company 360. So, it sounds very much like a legit project that will stay for many years in the market.

Youtubers Comment on the Qtum Price

We stop by the YouTube crypto community to see what they are saying about Qtum and the prediction they have for the token. There is quite some interesting take. According to YouTuber Ryan Matta in the prediction, he made back in February. He believes it is quite realistic for Qtum to double its price in a month and even rise 5x its value in 2021. He based his prediction on the possible market cap that Qtum could attain in 2021. You can watch the full briefings here:

Another YouTuber 4c Trading believes that Qtum is positioned to continue its bullish run. He is projecting it to reach up to $9 if it can maintain the bullish run and break the resistance level. You can watch the full video here:

Crypto Twitter Have Their Forecasts

Dana’s take on Qtum

Twitter user Dana referenced an article in her post comparing the price gain for Qtum in 2021. It shows that since January 1, the Qtum token has experienced a massive 167.75% change in price from $2.23 to the current price of $5.97. A positive price trajectory like this substantiates the prediction we have seen so far, which suggests that the token is set for an upward price movement in 2021.

Adam’s Prediction

Another Twitter user Adam has been predicting the QTUM token to double in price since February. If any of the prediction we have so far is to go by. We can say his prediction is not too far off the mark, the Qtum token has indeed been increasing in price at almost double the rate since the start of the year and it is projected to continue on that path.

Qtum: The Roadmap

We talked earlier about Qtum’s use of Ethereum Virtual Machine (EVM). That will change as Qtum is building its virtual machine known as the X86 Virtual Machine, which is the environment where developers can build decentralized apps and create smart contracts. Qtum believes that this VM will be better and sees it as the one for the future.

In March 2019 and 2020, Qtum released a total of 6 million new coins over both periods increasing the number of coins in circulation. If the X 86 virtual machine delivers on its promise and the dev. community is impressed by it. It could have a major impact on the price of Qtum positively. Therefore, price predictions should have this in mind in their predictions.

Conclusion

With all the features, that Qtum has to offer, on a technical level it can stand toe to toe with several protocols out there. When you look at the fact that it combines the best of Ethereum and Bitcoin, there is so much to be excited about. The protocol is able to deliver a blockchain that even more compatible with mobile devices with its low resources consuming design. While Ethereum gives it dApps and smart contract functions, Bitcoin gives it the ability to transfer value with better security architecture. The two together inside Qtum is what the protocol enticing to businesses as well as investors. The adoption is steadily rising and if some key high-profile partnerships are secured, it could be a major booster for the token.

All the features that protocol has to offer can propel it to a higher value and drive up the price of the token in the market. So, that is why investors keenly observe price predictions of tokens of interest. With the various Qtum price predictions for 2021 that we looked at, the token looks good for 2021. It could be on the path to rise more than double in value.

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