What Is Quant? All You Need to Know About QNT

What Is Quant?

Quant (QNT) is a blockchain network and interactive operating system first announced in 2018. It is designed to help bridge the gap between disparate blockchains and enterprise software using a simple plug-and-play solution that does not require teams to deploy new infrastructure.

It uses an ever-expanding list of DLT connectors and APIs to allow different blockchains to communicate with each other through Quant’s Overledger API Gateway. This is achieved without sacrificing each chain’s range, efficiency, or speed, ensuring that each chain maintains its unique properties.

The founders of the Quantum Network are Gilbert Verdian, Colin Paterson, and Paolo Tasca. Verdian is an early blockchain pioneer with extensive experience in the technology and security industries. Prior to assuming the role of CEO of Quant, he held a number of senior and C-level positions at leading companies including PricewaterhouseCoopers, BP, and Vocalink (a Mastercard business). He is also the founder of the ISO TC307 Blockchain standard, which is currently deployed in more than 50 countries.

Quant’s History and Team

Gilbert Verdian, one of the founders of the Quant network, came up with the idea for the blockchain project while working in the healthcare industry. Verdian has identified the importance of interoperability to ensure that patients who sign up on different platforms are covered. He has more than 20 years of experience innovating organizations’ security, technology, and business strategies worldwide to achieve tangible results.

Prior to Quant Network, Verdian was Chief Information Security Officer (CISO) of Vocalink, a Mastercard card company, Chief Information Officer of NSW Ambulance, CISO of eHealth NSW, and Ministry of Justice, UK.

The second co-founder, Dr. Paolo Tasca, is an entrepreneur and digital economist specializing in distributed systems. Dr. Tasca has served as a special advisor on blockchain technology to the European Parliament, the United Nations, and many central banks around the world.

He is also the co-author of several books on fintech and is the co-founder and chairman of the board of directors of the Retail Blockchain Consortium.

How Does Quant Work? Overledger DLT and Multi-Account Tokens (MLTs)

Using a technology known as Overledger DLT Gateway, Quant can seamlessly connect different decentralized networks, regardless of the specific distributed ledger technology they use (e.g., blockchain, DAG, or protocol). The core product of Quant is the Overledger Enterprise platform, considered the leading DLT gateway for enterprises. It is a simple API gateway for various distributed ledgers, allowing businesses to easily connect their existing infrastructure to the blockchain. The platform provides an easy-to-use REST API that provides a standardized way to communicate with a variety of blockchains.

This technology allows companies to create what Quant describes as a “multi-DLT smart contract” or MAPP. These are essentially smart contracts that exist across multiple distributed ledgers, allowing decentralized applications (dApps) to leverage multiple platforms’ data and capabilities to provide previously impossible functionalities.

Quant also supports so-called multi-account tokens (MLTs), which are digital assets backed by actual funds held in escrow with a financial institution. These MLTs can be used to represent stablecoins, vouchers, loyalty points, central bank digital currencies, and more. They can be issued and used across multiple distributed ledgers using Quant’s Overledger technology.

As of June 2021, Quant has been running on version 1.5 of the mainnet, and Overledger 2.0 is now live. The platform doesn’t have a fixed roadmap, but the team behind the platform is currently focused primarily on bringing developers, blockchain, and applications to the Overledger Network.

Quant is designed to provide an interoperability solution that works with any existing distributed ledger, regardless of its architecture and individual properties. Similarly, Quant’s DLT Overledger gateway can be easily integrated with existing financial infrastructure, allowing developers to easily leverage the capabilities of different blockchains using REST APIs.

Unlike some existing Layer 2 solutions, Quant’s Overledger platform requires no changes to the base chain for integration, making it completely plug-and-play.

Quant Solutions

Developers working with a variety of blockchains, such as Ethereum, Bitcoin, Ripple, Corda, Hyperledger Fabric, and Hyperledger Besu, can take advantage of Quant’s solutions. Quant offers a common API for connecting with the preferred blockchain, making it appropriate for companies desiring to develop their own apps.

Additionally, this means that companies and developers won’t need to own or manage their own nodes. This significantly reduces the technical requirements and, as a result, the entry barrier. As a result, businesses may quickly and easily access a range of DLT services with little hassle. Additionally, these DLT solutions are simple to incorporate into current systems.

Quant For Enterprise

To assist companies in moving toward safe and private decentralization, the Quant network offers a variety of enterprise-ready solutions. This covers the use of end-to-end DLT access, cryptocurrency payment services, and Multi-Ledger Tokens (MLT).

The main target markets for Multi-Ledger Tokens (MLT) are FinTech companies, banking services, and Central Banks. However, any marketplace or micropayment platform can use MLT. Utilizing a private distributed ledger that is controlled by the company, customers can create tokens that are minted to the value of a fund or asset using Quant’s unique MLT technology. Then, the newly created Multi-Ledger Tokens can be used with many distributed ledger technologies (DLTs). Users can obtain application tokens or money that is available on all payment platforms by using MLT. Additionally, this technology offers a more rapid, affordable, and effective means to transfer and receive money, as well as transparent real-time status reports.

Quant allows businesses to transmit and receive cryptocurrency payments right away. Additionally, companies can develop automated crowd-funding procedures, choose distributed ledger technology (DLT) to accept payments using Overledger, and choose the sort of currency in which they receive cash. This gives customers a wide range of options for payment methods. Additionally, because Overledger will be simple to integrate with any future DLT, this gives businesses a flexible and future-proof payment service.

End-to-end DLT access, which is perfect for international supply chains, is another important business solution provided by Quant. Businesses are now able to use a single straightforward application to access several distributed ledger technologies (DLTs). It gives multi-party consortiums, payment platforms, and decentralized finance (DeFi) businesses a mechanism to connect and communicate with several DLTs. Suppliers, customs, logistics, and payments may all use various DLTs. As a result, Quant makes it simple to connect all of these ledgers securely and reliably.

Quant’s Features: Overledger, mDapps, DLT

Overledger Network

Overledger Network started operating in June 2020. Multiple distributed ledger networks are currently supported by Overledger Network. These include XRP Ledger, Hyperledger Fabric, Corda, Quorum, Ethereum, and Bitcoin. The Overledger Network is anticipated to be integrated into both national and regional distributed ledger networks by the end of 2021. As a result, Overledger will be able to offer access to DLT infrastructures all around the world.

Through Overledger DLT gateways, the Overledger Network connects a number of commercial, private, and public distributed ledger technologies (DLTs). A variety of DLT tools and resources are made available as a REST API, or representational state transfer application programming interface, to do this. REST APIs are intended to make the most of current protocols while enabling developers to create apps without having to download any brand-new libraries or software. Additionally, Overledger Network integration with additional ODAP-compliant protocols is something we may anticipate in the future.

Offering “world-leading DLT interoperability,” Overledger Network. With Overledger, it is quick and easy to create business partnerships and pay for data assets and services that can be used in Overledger applications. By lowering many of the obstacles to interoperability between various DLT types and opening them up to enterprise developers, Overledger users can also boost their return on investment (ROI) in DLTs.

Additionally, the energy industry, finance, and supply chain management are currently using Overledger Network. Building new cross-DLT applications is made feasible by Overledger Network, which is an expansion of Quant’s core technology. This technology breaks down organizational and industry boundaries in a way that helps expedite and digitize corporate processes by integrating data providers across various DLT systems.

Overledger DLT Gateway

Users can easily communicate with Quant’s Overledger DLT Gateway by using the REST API. A communications mechanism called the Overledger DLT Gateway is built on top of different kinds of distributed ledgers. Additionally, the protocol is used without any application-level interaction with ledgers. This indicates that there is no requirement for consensus or forks when using the Overledger DLT Gateway. The Gateway doesn’t bottleneck transactions and doesn’t have a single point of failure.

Quant’s Overledger DLT Gateway offers future-proof scalability for decentralized applications (dApps) and multi-DLT applications by interacting with many ledgers at once (mDapps).

mDapps

Internet applications created with Web3 infrastructure are known as decentralized apps (dApps). These applications’ decentralized design means that there is no single point of failure or centralized authority over them. It typically implies the use of blockchain technology when discussing dApps. The dApps run on a distributed network of nodes, with all data and transactional information being immutably recorded on a single blockchain.

Multi-DLT applications (mDapps), on the other hand, use a number of other distributed ledger technologies (DLTs) in addition to blockchain technology. mDapps can enable transactions over many ledgers at once, in contrast to decentralized applications (dApps), which are restricted to a single chain or network. With interoperability across several DLTs, mDapps produce a uniform application model.

Additionally, programmers can create smart contracts for any form of distributed ledger technology using any programming language thanks to Quant’s Overledger DLT Gateway (DLT). DLTs that do not enable smart contracts out of the box are included in this. In order to provide horizontal scaling for enterprise-ready distributed ledger systems, multi-DLT applications (mDapps) were created.

Multi-DLT Smart Contracts

Multi-DLT Smart Contracts, which are specific to the Quant network, enable sophisticated activities across various distributed ledger technologies (DLTs). This covers multi-ledger tokens and cross-chain atomic swaps. Multi-DLT Smart Contracts also provide governance for on-chain interactions of Multi-DLT Smart Contracts across various DLTs because they can be implemented either on-chain or off-chain. These smart contracts provide a strong foundation for multiple DLT applications and are crucial to the Quant network (mDapps).

Multi-Ledger Tokens (MLTs)

Quant Network’s Overledger platform enables businesses to mint (produce) stablecoins by utilizing multi-ledger tokens through a variety of different blockchain protocols. Central banks, financial technology (FinTech) companies, conventional banks, marketplace platforms, and micropayment systems can all use MLTs thanks to Overledger. MLTs are used by many parties for a variety of purposes, including international payments, supply chain management, trade and investment between consortia blockchain systems, loyalty point voucher systems, and other types of electronic money.

Because multi-ledger tokens enable ownership transfers between various businesses, transactions are tracked and archived throughout the course of their full existence. For instance, the International Monetary Fund (IMF) uses Quant’s MLT technology for CBDCs that are delivered to and from and function on a variety of different blockchain and legacy-based platforms. As the value of the technology increases and new business models appear, multi-ledger tokens have the potential to be used for a variety of blockchain and financial functions.

The capacity to transmit and receive money between the Overledger Network and different Quant crypto platforms and products is provided by Quant. Through its cross-chain Overledger platform, the network even supports the integration of cryptocurrency payment services, enabling users to use cryptocurrencies to pay for goods and services.

What Is the Quant (QNT) Token?

Quant Network’s native token is called QNT. It was introduced in 2018 to offer compatibility between several blockchains. Gilbert Verdian, who was working for the Australian Ministry of Health at the time, was motivated to start Quant Network in 2018 after finding it challenging to record individual data and records on other platforms. Its original goal was to employ blockchain technology to securely store and organize data in a manner that would permit communication between various blockchains. Multi-chain apps (mDApps), the first operating system of blockchains, were developed using Overledger technology. These applications may integrate into many decentralized networks thanks to their highly developed interoperability.

Is Quant (QNT) a Good Investment?

Technical analysts for cryptocurrencies claim that a mixed trend that includes both bull and bear markets is showing both profit and risk. However, the overall mix of projections for 2023 is optimistic. Even though Quant price position accuracy is challenging, the coin may display some resistance when compared to Bitcoin, Ethereum, and other cryptocurrencies.

Due to the inherent volatility of Quant forecasts, it would be difficult to make any kind of improbable price prediction. However, the market sentiment and expert price predictions indicate that things are generally in a good mood. One may realize that Quant would be essential to the technological growth of ledger databases for scalability and storage if one also takes into account the embryonic aspects of Quant being simple to store and other DLT-driven environmental advantages.

How to own Quant (QNT)?

One way to own QNT is to go through a centralized crypto exchange. The first step is to create a Gate.io account and complete the KYC process. Once you have added funds to your account, check out the steps to buy QNT on the spot or derivatives market.

News on Quant

Quant has teamed with UST, a top provider of digital transformation solutions, to offer central and commercial banks, as well as participants in the capital markets, technical integration, and tokenization services.

As financial institutions increasingly recognize the advantages of distributed ledger technologies, these services will assist them in implementing digital assets. They can achieve quicker settlement times and gain access to new markets and clients by issuing digital money and tokenizing already-existing asset classes.

Utilizing Overledger, their low-code API-based blockchain gateway and tokenization platform, Quant will supply the core technology. In parallel, UST will offer assistance through user interface design and integration using its sandbox in the London Innovation Lab. Together, they will support the introduction of commercial stablecoins, digital currencies issued by central banks, and digital securities onto significant distributed ledger networks. Financial organizations can significantly cut the lifecycle of their blockchain projects to just a few weeks by engaging with Quant.

Useful References

For the latest updates about Quant, you can visit:

• Quant’s Official Website
• Twitter
• Reddit
• GitHub

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