QTUM published its community and development updates on August 6th to inform its users about the company’s recent releases and upcoming rollouts.

Qtum (QTUM) is a Bitcoin fork which took the core mechanics of the original blockchain and fitted a compatible version of the Ethereum Virtual Machine on top. The aim was to retain the security of Bitcoin while adding the smart contract and dApp functionality of Ethereum. Fourteen months on from the coin launch, Qtum finds itself ranked 22nd in CoinMarketCap’s rankings and is already host to several ICO launches and dApps.

Several prominent (QRC-20) tokens have launched on the Qtum platform, including the crypto-prediction market program, Bodhi (BOT). Bodhi has a market cap of just over $6 million at the time of writing but already has over 33,000 holders, making it one of the most popular tokens on Qtum.

Qtum has also revealed that the company has partnered up with Etherparty Smart Contracts Incorporated, a Canadian blockchain company. Etherparty is a platform for blockchain software products, with a mission to simplify the creation of agreements between people around the world.

The majority of Qtum’s business partnerships have been based in East Asia, and the team, led by Patrick Dai, has already forged a working relationship with Baofeng Bokocloud – a multimedia company whose apps have over 200 million users in China. Likewise, announcements were made in January of 2018 commencing Qtum’s work with Chinese cyber-security firm, Qihoo 360.

Wenbin Zhong, the Core Development Engineer of Qtum talked about the peer-to-peer network and its technologies. He stated that the privacy and security are the key elements and elaborated on the absence of privileged nodes on the network and the transfer of user rights.

QTUM coins are currently down for the week, the month and the quarter. The quarter looks particularly bad, with 70% losses since early May. The coin is primarily traded on the ZB.COM exchange, and despite its poor performance of recent months, the daily trade volume for the coin has remained steady, and has rarely dipped below $100 million.

Notably, the Chinese government ranked Qtum as the 10th best cryptocurrency project due to QTUM’s superior underlying technology.

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