Qtum is the first open-source value transfer protocol and decentralized application platform, that can execute smart contracts with a proof-of-stake consensus mechanism. The platform is described on the project website as follows:
"The Quantum Blockchain [...] is a combination of Bitcoin Core, Proof-of-Stake, and the Ethereum Virtual Machine (EVM). The end product, Qtum Core, will allow smart contracts to execute on a Proof-of-Stake consensus model. This ecosystem was designed to provide a familiar environment for Smart Contract and Decentralized Application developers. The Qtum Foundation’s goal is to create a stable product, that does not require a steep learning curve, and market it for mass business adoption.
One major goal of Qtum is to build a Value Transfer Protocol, which, with decentralized applications, can be used to support and enhance various industries such as the financial sector, supply chain tracking, internet of things, and social media.
Another Qtum goal is to maintain compatibility with existing processes from Bitcoin and Ethereum, to be as secure as possible, and to be used easily by individuals, businesses, and developers. Qtum's future development will be guided by the community and consensus focused processes based on the existing process for Bitcoin Improvement Proposals (BIP).
Qtum is secured by the Proof-of-Stake 3.0 (POS 3.0) consensus protocol and is the first blockchain platform to integrate Proof-of-Stake technology with a Smart Contract platform. Smart contracts will also be executed as part of an Unspent Transaction Output (UTXO), which is part of the Bitcoin transactional model."
On 11 January 2017 the Quantum Foundation has raised 1 million USD in funding, from notable blockchain entrepreneurs, including ethereum founder Anthony Di Iorio, OKCoin CEO Star Xu, BitFund founder Xiaolai Li and Fenbushi partner Bo Shen (CoinDesk).