Qtum (QTUM) defines itself as a blockchain platform for smart contracts and value transfer. However, like with all other blockchains, the biggest problem it faces is that execution speeds. This all boils down to block intervals. When the block interval is too high, then it slows down transactions. On the other hand, when it is too small, it creates bandwidth issues and also leads to wastage. Qtum is looking to solve these problems using SCAR, a new scalable consensus algorithm. SCAR will be able to adjust the blocks dynamically. According to Qtum, SCAR will give this platform a number of advantages. They are as below:
- Consensus is implemented by the supernodes, the block interval can be greatly shortened, and the transaction confirmation is faster.
- The block interval is dynamically adjusted according to the network load. When the network load is reduced, the block interval becomes longer. It will reduce the bandwidth and hard disk pressure.
- When less than half of the supernodes fail, the new block can still be produced, and the system is still robust.
In the business world, SCAR will give QTUM an edge in terms of adoption both as a payments method and a smart contract platform. As such, in the future, large-scale applications will emerge on the Qtum blockchain and play a huge role in driving up the intrinsic value of this blockchain.
These developments are given a boost by the fact that Qtum is now a partner to Amazon web services. Amazon tech partners enjoy a number of advantages that will be quite favorable to the Qtum blockchain. Some of them include eligibility for Proofs-of-Concept on Amazon and customer webinars. This means that Qtum Dapp’s developers now have an opportunity to test their concepts on a real-world platform that allows them to better understand the strengths and weaknesses of such applications. It also gives them an opportunity to market their Dapps better to the world through Amazon. Amazon is one of the world’s most valuable and trusted companies and the fact that Qtum associates with it, add to its intrinsic value.
On this basis, Qtum comes across as one of the most valuable blockchains in the market. With SCAR it could compete quite effectively with centralized payment systems. It could also see an upsurge of Dapps on this blockchain, which is its core source of value. As such, the long-term prospects for value growth are quite high.
In the day, Qtum (QTUM) is trading at around $3.88 at the time of writing. It is up by over 5% and is one of the better performers in the day. This can be attributed to the recent Amazon-related news. Amazon is a global super brand, and any association with it was guaranteed to drive up the value of Qtum (Qtum) going into the future. As such, in a bull market, Qtum (Qtum) has what it takes to rise higher and above its all-time highs. It has made tremendous advancements since last year, the latest one being the proposal for SCAR. It’s potential as an investment is good.