QTUM is a smart contracts platform that fuses the Bitcoin blockchain with the execution environment of the Ethereum Virtual Machine (EVM). Technically, QTUM is a fork of Bitcoin Core version 0.13. By leveraging Bitcoin’s light client model, QTUM enables the use of mobile wallets that can be used not only for P2P transactions, but also for mobile-based smart contracts. Compatibility between the QTUM Virtual Machine and the EVM also allows developers to migrate Ethereum smart contracts to the platform and build upon pre-existing code. Like NEO, the project’s biggest competitor in China, QTUM uses a Proof of Stake consensus algorithm for transaction validation and protocol governance. Another key feature of the QTUM protocol is built-in oracles, which are data sources that arbitrate the execution of a smart contracts based on real-word, externally verifiable events. The team is led by Patrick Dai, formerly known as Steven Dai, who was involved in the BitBay scandal. Investors include Bo Shen of Fenbushi Capital and Roger Ver, CEO of Bitcoin.com.