The original vision of the Internet was to create a network that was open, dependable, and secure for everyone. However, this vision has not been fully realized yet. Until now, thanks to Quant. But what is Quant? And how can it help to make this dream come true? One way to achieve this vision is to use distributed ledger technologies (DLT) such as blockchain, which enable the internet to become a decentralized network of networks that can support various applications in different sectors like finance, healthcare, and more.
DLTs have many benefits for various applications, but they also face challenges in communicating efficiently and securely with other networks and ledgers. This limitation forces distributed applications to rely on a single ledger or to sacrifice interoperability. To overcome this obstacle, DLTs need to improve their external and internal intercommunication capabilities in their fast-paced environment.
The Quant Network, the Birthplace of Quant QNT
One of the challenges of blockchain technology is interoperability, or the ability to communicate and exchange data across different platforms and networks. To solve this problem, a project called Quant Network was founded in 2015 by Gilbert Verdian, who also initiated the ISO standard for blockchain.
Quant Network’s main product is Overledger, a distributed ledger technology (DLT) operating system that enables seamless connectivity and interoperability between blockchains and legacy systems.
Gilbert Verdian, the Founder and CEO of Quant, came up with this idea after experiencing the challenges of working with different blockchains in his previous roles as a CISO, CIO, and CTO in the UK and Australian governments. Quant is a protocol that allows anyone to connect and interact with multiple distributed ledger technologies (DLTs) simultaneously.
One of the features of Quant’s Overledger DLT Gateway, also known as Enterprise 5, is that it enables users to interact with different blockchains, such as Bitcoin, Hyperledger Fabric, Ethereum, R3 Corda, and BNB Chain. This means that users can access and use the data and services provided by these blockchains without having to switch between different platforms or applications.
Quant enables cross-chain communication and interoperability for businesses and developers who want to leverage the benefits of different DLTs.
What is the Quant QNT Cryptocurrency?
QNT is a cryptocurrency that runs on the Ethereum network and powers the Overledger brand of Quant Network, which connects different blockchains and private networks. Overledger enables the development of mDapps, which are decentralized applications that can work on multiple blockchains simultaneously.
QNT is a utility token that is regulated by the Swiss Financial Market Supervisory Authority and that allows users to access online applications or services on the Quant platform. QNT is blockchain agnostic and you can easily switch to any other blockchain.
Why are QNT Tokens Used For?
To build multi-chain applications on the Overledger platform, developers need QNT tokens. These tokens are the native currency of the Quant Network, which provides enterprise blockchain services. The Quant Treasury is a service that enables developers to access the Overledger network, a blockchain operating system that connects different distributed ledgers and legacy systems.
The Quant Treasury simplifies the licensing process by allowing developers to pay with fiat currency, which is then automatically converted to QNT tokens. QNT tokens are the native currency of the Overledger network and are required for using its features and services.
How to Use the Overledger and Its Benefits
To use Overledger, the DLT gateway of Quant Network, developers need to pay in QNT tokens based on a fiat value that the Quant Treasury converts. Overledger enables interoperability and multi-DLT applications (mApps) with novel Multi-DLT Smart Contracts. Developers can also monetize their mApps by charging subscriptions in QNT, fiat, or any other digital currency.
One of the benefits of using the Overledger ecosystem is that it allows users to interact with multiple decentralized applications (mDApps) across different blockchains. However, this also requires users to hold QNT tokens, which are the native tokens of the Overledger network. QNT tokens are used to pay for the annual license key that enables users to access the Overledger ecosystem and use mDApps.
Why Buy QNT Tokens?
Quant Network’s Overledger platform enables enterprises to access multiple distributed ledgers through a single API. To use this service, enterprises need to pay licensing fees in QNT tokens, which are the native cryptocurrency of Quant Network.
Therefore, organizations that want to benefit from the Overledger platform may need to acquire QNT tokens to cover their costs. QNT tokens may also appeal to those who value the ability to create a unified interface for connecting to different distributed ledgers.
Quant is a platform that enables communication between different blockchains, both public and private, through its Overledger operating system. This makes it possible to create applications that can leverage multiple distributed ledgers and benefit from their unique features.
One might wonder about the Quant network’s security. The answer is not definitive. However, the network is very unlikely to face a security breach because it is immune to forking and disconnection from its multiple ledgers.
Tokenomics
Quant has a fixed maximum supply of 14,612,493 QNT tokens.
In addition, to create deflationary pressure, which helps preserve the value of QNT, the circulating supply of the tokens will be decreased by blocking using various methods, such as staking.
Final Thoughts
Quant Overledger Network is a platform that enables cross-chain communication and interoperability for enterprise applications. It allows developers and businesses to create multi-DLT solutions that leverage the best features of different blockchains. Quant’s vision is to build a decentralized network of networks that can connect existing and future systems with blockchain technology.
Overledger Network is the result of nearly two years of development and testing by Quant and its community. It uses a network of Remote Connector Gateways (RCGs) to facilitate transactions on Bitcoin, Ethereum, and Ripple, with more DLTs to be added in the future.
It is constantly improving its scalability, reliability, and user-friendliness based on feedback and recommendations from its users. Overledger Network is a groundbreaking project that aims to make blockchain accessible and beneficial for all.
