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Qtum Chain Foundation, which Supports Qtum Blockchain Development, Reports Solid Performance in June 2021

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The Qtum Chain Foundation, which supports the ongoing development of Qtum (QTUM), a leading blockchain platform, reports financial expenditures quarterly “for transparency and openness with the community.”

The Qtum Chain Foundation’s latest report, published on June 6, 2021, notes that they have covered (as usual) the blockchain or distributed ledger tech (DLT) project’s main highlights for Q2 2021 Expenditures.

As mentioned in the update:

“During the second quarter of 2021 (April, May, and June) the Qtum Chain Foundation spent 20.7 bitcoin, an average of 6.9 BTC per month.”

The Foundation further revealed that funds spent were classified into six categories. The largest categories are “recurring expenses for Research and Development, Public Relations and Marketing, and Operation Costs,” the Foundation added.

The organization also mentioned that the non-recurring costs are “smaller and consist of Compliance Costs, Business Development, and Technical Cooperation.” For the 2nd quarter of 2021, these category percentages were  as follows: Technology Development 64.4%, PR and Marketing 8.9%, Operations Costs 3.1%, Compliance Costs 9.2%, Business Development 11.8%, and Technical Cooperation 2.6%.  (Note: for a more detailed breakdown, check here.)

The Qtum team also noted that June was a “historic month” for them as they managed to “complete one million blocks on the Qtum Blockchain on June 26, 2021.”

In April, they went through the FastLane Hard fork, which lowered the average block time “by four times from 128 seconds to 32 seconds.” The halving blocks were “adjusted to keep the same pacing for halvings as Bitcoin, and the first halving for Qtum will be on December 1, 2021,” the Foundation explained.

The Qtum team further noted that their Director of BD and Investments, Antonio Saaranen, presented at the 7th Global Blockchain Congress to celebrate DeFi and NFTs.

The Foundation pointed out that 3 million Qtum tokens “got locked up in Gate.io to facilitate DeFi users to move tokens between an Ethereum DEX and Qtum.”

The Foundation has also shared updates regarding its virtual machine.

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