QTUM Description
Overview
Qtum (QTUM) is a Layer-1 blockchain, not a token on another chain.
It is a UTXO-based chain derived from Bitcoin Core, with an embedded Account Abstraction Layer (AAL) that lets Ethereum-style smart contracts (EVM) run on top of the UTXO model. Qtum began in 2017 as an ERC-20 token sold during an ICO, then swapped 1:1 for native coins when mainnet launched in September 2017. The original ERC-20 contract still exists on Etherscan but is inactive.
Value Proposition
Qtum's differentiator is combining Bitcoin's UTXO transaction model with Ethereum-compatible smart contracts through its Account Abstraction Layer, rather than choosing one architecture.
This lets QTUM secure a PoS network while supporting EVM-based applications, and its Decentralized Governance Protocol (DGP) lets network parameters change via on-chain voting without a hard fork. Offline staking, added in a 2020 hard fork, lets holders delegate stake to a "Super Staker" node and earn rewards without running their own always-on node.
Token Basics
QTUM is both a utility and staking token: holders use it to pay transaction and smart-contract fees and to participate in Proof-of-Stake block validation.
Stakers who confirm blocks earn newly minted QTUM plus transaction fees from that block. Since a 2020 hard fork, holders can delegate ("offline stake") their coins to a Super Staker node instead of running their own node. Through the Decentralized Governance Protocol, QTUM holders, developers, and stakers can also propose and vote on-chain to adjust network parameters such as block size or gas limits.
Tokenomics
QTUM's max supply is 107,822,406 coins, with roughly 106.1 million QTUM in circulation as of 2026-09-02.
- Genesis supply: 100 million QTUM, minted at mainnet launch.
- Allocation: 51 million (51%) to public ICO buyers; 12 million to founders/team, locked for 4 years; 8 million to early private investors; approximately 29 million to the Qtum Foundation for business development and academic research.
- Emission: new QTUM is minted via Proof-of-Stake block rewards, halving roughly every 4 years; the most recent halving (November 2025) cut the reward to 0.25 QTUM per block, leaving annual inflation near 0.25%.
Launch & Funding
Qtum launched via a public ICO held March 12-17, 2017, raising approximately $15.6-15.7 million in BTC and ETH.
The sale was reported at the time as the 4th-highest-funded ICO to that point; its initial $10 million portion sold out in 90 minutes. Of the 100 million QTUM minted at genesis, 51 million (51%) went to public ICO buyers. Qtum's founding (2016) predates its mainnet launch: the ICO tokens were an ERC-20 placeholder later swapped 1:1 for native coins when Qtum's own mainnet launched in September 2017.
Blockchain & Consensus
Qtum runs on its own Layer-1 blockchain rather than being deployed on another network.
The chain is UTXO-based and derived from Bitcoin Core, with an embedded Account Abstraction Layer (AAL) that lets Ethereum-compatible (EVM) smart contracts execute on top of the UTXO model. Its consensus mechanism is Proof-of-Stake, adapted from Blackcoin's PoS design, with an average block time of approximately 32 seconds.
Team
Qtum was founded in 2016-2017 by Patrick Dai, Jordan Earls, and Neil Mahi.
- Patrick Dai: previously CTO of VeChain and of Chinese Bitcoin mining company Bitse Group; involved in crypto since 2012; holds a master's degree in computer science; chairman of the Qtum Foundation.
- Jordan Earls: self-taught developer since age 13; President of Earl Grey Tech; co-chair of the Smart Contracts Alliance.
- Neil Mahi: approximately 20 years of software development experience; holds an MBA.
Issuing Organization
Qtum is maintained by the Qtum Foundation, a Singapore-registered non-profit.
"QTUM FOUNDATION LTD." was incorporated on 28 November 2016 as a Public Company Limited by Guarantee in Singapore (entity number 201632499D), with its registered office at the Duo Tower building. Its stated purpose is to control the portion of QTUM's genesis allocation earmarked for business development and academic research and promotion.
Governance
Qtum combines on-chain parameter governance with Proof-of-Stake block validation rather than a full token-holder DAO.
Its Decentralized Governance Protocol (DGP) lets token holders, developers, and stakers propose and vote on-chain to adjust parameters such as block size and gas limits, without requiring a hard fork. Since a 2020 hard fork, holders can also delegate stake to a Super Staker node ("offline staking") to earn rewards non-custodially. Broader roadmap decisions, such as hard forks, are reported as being driven by the Qtum Foundation and core developers rather than a formal on-chain vote.
Roadmap
Qtum's most recent network upgrade is the v29.1 hard fork, deployed in January 2026.
- v29.1 (January 2026): added BLS12-381 precompile support relevant to zero-knowledge rollups, improved transaction propagation, and incorporated upstream Bitcoin Core 29 and Ethereum "Pectra" updates.
- Targeted Summer 2026: a Circle Bridged-USDC bridge and a MetaMask Snap/Bridge integration, both reported to have completed security audits and pending marketplace approval.
- "Qtum Text-to-Video," an AI video-generation product payable in QTUM, is already in beta; a "Qtum Router" AI-inference API service is planned for 2026.
- Qtum was a platinum-tier sponsor of the Hong Kong Web3 Carnival in April 2026.
Security
CertiK's Skynet platform rates Qtum's overall security score at 91.76 (AA), based on a completed audit and penetration test of the Qtum Bridge.
- CertiK delivered a Qtum Bridge audit report on March 26, 2024, and a penetration test report on March 27, 2024, finding 8 issues: 1 Critical (resolved), 1 Major centralization-related finding (acknowledged, unresolved), 2 Medium (resolved), 2 Minor and 2 Informational (mixed status); overall remediation is reported near 99%.
- Holder concentration is high: the largest mainnet address holds approximately 36.6% of circulating supply, and the top 5 addresses combined hold roughly 52%.
Frequently Asked Questions
Is Qtum (QTUM) an Ethereum-based token?
No. Qtum is its own Layer-1 blockchain, not a token issued on Ethereum or any other chain. QTUM began in 2017 as a temporary ERC-20 token sold in an ICO, then was swapped 1:1 for native coins when Qtum's UTXO-based, Bitcoin-Core-derived mainnet launched in September 2017. The original ERC-20 contract is now inactive.
What consensus mechanism does Qtum use?
Qtum uses Proof-of-Stake, adapted from Blackcoin's PoS model, with an average block time of about 32 seconds. Stakers who validate blocks earn rewards and transaction fees. Since a 2020 hard fork, holders can delegate their coins to a Super Staker node through offline staking, earning rewards without running their own always-on node.
What is QTUM used for?
QTUM pays transaction and smart-contract execution fees on the Qtum network and is staked by validators under its Proof-of-Stake consensus to secure the chain and earn block rewards. Holders can also delegate stake via offline staking, and QTUM holders can propose and vote on-chain, through the Decentralized Governance Protocol, to adjust network parameters.
What is Qtum's maximum and circulating supply?
Qtum's maximum supply is 107,822,406 QTUM, and roughly 106.1 million QTUM were in circulation as of 2026-09-02. New QTUM is minted through Proof-of-Stake block rewards that halve roughly every four years; the most recent halving, in November 2025, cut the reward to 0.25 QTUM per block, leaving annual inflation near 0.25%.
How and when did Qtum launch?
Qtum raised approximately $15.6-15.7 million in a public ICO held March 12-17, 2017, one of the highest-funded token sales at the time. Of the 100 million QTUM minted at genesis, 51% was sold to the public. The ICO's ERC-20 tokens were swapped 1:1 for native coins when Qtum's mainnet launched in September 2017.
Who founded Qtum?
Qtum was founded in 2016-2017 by Patrick Dai, Jordan Earls, and Neil Mahi. Dai previously served as CTO of VeChain and Bitse Group and chairs the Qtum Foundation; Earls is a self-taught developer and President of Earl Grey Tech; Mahi brings around 20 years of software development experience and holds an MBA.
Has Qtum been security audited?
Yes. CertiK rates Qtum's overall Skynet security score at 91.76 (AA) and completed an audit and penetration test of the Qtum Bridge, delivered March 26-27, 2024. The pentest found 8 issues, including one resolved Critical flaw and one acknowledged Major centralization finding, with overall remediation reported near 99%.
What is Qtum's Decentralized Governance Protocol (DGP)?
DGP is Qtum's on-chain governance mechanism that lets token holders, developers, and stakers propose and vote to adjust network parameters, such as block size or gas limits, without requiring a hard fork. It operates alongside Qtum's Proof-of-Stake consensus and offline staking, which lets holders delegate stake to Super Staker nodes.