Web3Labs Secures $2 Million in Funding on December 1, 2023

According to industry sources, Qtum completed an initial coin offering (ICO) on March 16, 2017, raising $15.6 million. Following this round, Qtum’s total cumulative fundraising reached $16.6 million.Qtum is a smart contract platform that utilizes a proof-of-stake (PoS) consensus mechanism. The network is built on Bitcoin Core to ensure security and stability, operating with the UTXO model. Qtum also integrates the Ethereum Virtual Machine (EVM), enabling the execution of Turing-complete code required for smart contracts and decentralized applications (dApps). The platform’s native token, QTUM, is used for transaction fees, securing the network, and voting on protocol upgrade proposals.Since its inception, Qtum has undergone several significant development milestones. After completing its ICO in March 2017, Qtum was promptly listed on major exchanges. On September 13, 2017, the Qtum mainnet officially launched. According to its roadmap, Qtum is scheduled for a halving event on November 30, 2025, at which time block rewards will decrease from 0.5 QTUM to 0.25 QTUM. Notably, Qtum’s annual inflation rate has been reduced from its initial 1% to the current 0.5%, reflecting ongoing improvements in the platform’s tokenomics model.

According to industry sources, Qtum received $1 million in funding on January 9, 2017. Investors in this round included Bo Shen, Anthony Di Iorio, Xiaolai Li, and Chen Weixing. Following this transaction, Qtum’s total cumulative funding reached $16.6 million.Qtum is a smart contract platform utilizing a Proof-of-Stake (PoS) consensus mechanism to validate transaction blocks and provide security assurances. The project is built on the Bitcoin Core architecture to ensure network security and stability and operates using the UTXO model. By integrating the Ethereum Virtual Machine (EVM), Qtum enables the execution of Turing-complete code required for smart contracts and decentralized applications (dApps). The platform also features a middleware component known as the Account Abstraction Layer (AAL), which ensures compatibility between the UTXO set and the smart contract execution layer.From a development perspective, Qtum raised $15.6 million via an ICO in March 2017 and officially launched its mainnet on September 13 of the same year. According to its latest roadmap, Qtum is scheduled for a halving event on November 30, 2025, at which time the block reward will decrease from 0.5 QTUM to 0.25 QTUM. Meanwhile, Qtum’s annual inflation rate has been reduced from its initial 1% to the current 0.5%, reflecting ongoing optimization of its token economic model.