What is Quant?
Quant (QNT) is a multi-purpose cryptocurrency that acts as a key to access the Quant Network suite of applications, including Overledger, the world's first blockchain operating system that connects different blockchains and enables the creation of Internet-scale multi-chain applications. QNT is an ERC-20-compliant token that powers Quant Network's enterprise software solutions. It is compatible with the Ethereum network and can be used to pay license, platform, developer, user, and consumption fees, as well as to purchase multi-chain applications (MApps).
The founders of Quant, Gilbert Verdian, Paolo Tasca, Colin Paterson, and Gaetano Mondelli, released a white paper in January 2018 that explained the inner workings of the proposed Overledger blockchain operating system. In April 2018, following a presale of 15 million QNT tokens valued at $15 million, Quant conducted a public sale for the cryptocurrency and was able to raise $11 million worth of QNT tokens.
Quant released Overledger 1.0 in June 2020 as a Software-as-a-Service (SaaS) product that provided an experimental set of technologies to the community in the form of "Overledger Gateways" for testing and feedback. The project then launched Overledger 1.5 in January 2021, which gave the service mainnet access on Bitcoin, Ethereum, and XRP Ledger, as well as integrated compliance checking for access to other mainnets. In June 2021, Overledger 2.0 went live with a simple and standard interface to access all supported blockchains.
One of the main issues facing the field of distributed ledger technology (DLT) is a lack of interoperability between different DLTs. There are thousands of DLTs in the market, but their ability to communicate with one another is limited, resulting in information islands, increased developer burden, and technical barriers. Quant addresses this issue by connecting public and private networks using its proprietary software called Overledger, which allows for smooth multi-chain communication and enables developers to create more powerful and resilient applications.
Inspired by the TCP/IP models used in communication networks, the Overledger team designed an architecture that enables interoperability and scaling while also supporting MApps operating as decentralized apps (dApps) on multiple distinct ledgers. The platform has multiple layers, such as a transaction layer and a messaging layer, and is organized based on the layers that perform specific functions in order to achieve the platform's goals.
Quant is a platform built on Ethereum that is compatible with the Ethereum ecosystem and has a modular design at the application layer that does not interface with multiple ledgers of other blockchains. Instead, the system operates independently of networks. Quant is an off-chain solution that "has vertical scalability and is future proof," according to its developers. It aims to fill the gap in seamless interoperability between internal ledgers and across external networks as the "missing link" for businesses seeking to access multiple blockchains. Quant offers various features and benefits that set it apart from its competitors, including its ability to be easily set up, the use of a simple query language, and its scalability and flexibility.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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