Qtum Crowdsale Claims Victory, Ends Early

Blockchain, FinTech, News | March 23, 2017 By:

The Qtum Foundation, a hybrid blockchain application platform, claims it raised over $15 million US in five days. The results would make the project among the all-time top 10 blockchain-token crowdsale campaigns.

Qtum is a hybrid blockchain application platform which combines a fork of bitcoin core, plus an “Account Abstraction Layer” allowing for multiple virtual machines, including the Ethereum Virtual Machine (EVM) and a proof-of-stake consensus protocol.

As such, Qtum lays claim to both bitcoin’s unspent transactions output (UXTO) approach, plus the account-based approach used for smart contracts on ethereum.

The project raised over 11,000 BTC and 75,000 ETH in exchange for 51 million Qtum tokens. Initially, Qtum planned to continue the crowdsale for a month. The first day started successfully, as Qtum sold $10 million of its tokens in a mere 90 minutes. By comparison, ethereum took 42 days to raise $18 million.

“The QTUM crowdsale is officially over after 117 hours since it kicked off,” said a company statement. “The Qtum Foundation would like to thank everyone for the support. This crowdsale would not be successful without you. We understand you put the trust in the Qtum team by participating in the crowdsale, and it will only encourage the team to work even harder to launch the Qtum mainnet as soon as possible.”

The company also announced a new partnership with professional service providers PwC, which is expected to fuel blockchain adoption across global business sectors.