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What is Quant (QNT) token, a connection between blockchains?

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Quant Network was launched in 2018 with the goal of connecting blockchains and other existing networks around the world. Quant Network's Quant (QNT) token trades at $80,15 per token with a rolling supply of 12 million QNT, for a total market capitalization of $969 million.

What is the Quant Network token?

Different blockchains have different functions and there is no one-size-fits-all solution. Most blockchains also have different ecosystems that address different issues.

Quant Network was created to combat this and facilitate interoperability between blockchains. It uses its Overledger OS, an operating system that allows applications to run on different blocks of blocks, which allows seamless communication across multiple networks.

Distributed Ledger Technology (DLT) is used in almost every industry today for different reasons, but as a complicated technology that does not integrate with different generations of systems, it cannot reach its full potential.

The Quant Network cryptocurrency is a simple and secure platform that makes interoperability convenient when connecting any network to any DLT in the world. However, it is a closed source project that requires a license to be used.

At present, the Quant platform supports Bitcoin, Ethereum, Ripple, Stellar, EOS, IOTA, Constellation, blockchain JP Morgan Quorum and Hyperledger Fabric blockchain.

Overledger OS connects not only blockchains, but many types of DLT, database, CRM system and more. It doesn't require any additional blockchain, and that's what makes the process smooth and perfect.

These networks are connected via a single API, which means developers can get access to these DLTs in a very short period of time. This is because the infrastructure needed to run them already exists.

The Quant Network cryptocurrency also allows people to create smart contracts on blockchains that don't even support them (like Bitcoin). People can also use Quant to create multi-chain apps, also known as mApps. These mApps can run on multiple chains simultaneously because they require different resources from different networks.

To access the Overledger OS, users and developers need to purchase the native Quant token (QNT). Quant is also used to encrypt and sign transactions and transfer digital assets between different chains.

How does the Quant Network cryptocurrency work?

Details of how Quant Network works have not been made public. This is because it is not an open source project. What we do know is that it's not a blockchain. The Quant Network is an ecosystem that contains the following elements:

  • Overledger OS
  • Multi-thread applications (mApps)
  • The Overledger Network
  • The Overledger Network Marketplace
  • The treasure
  • the QNT token

The Overledger OS is the heart of the ecosystem. It is an interoperable blockchain operating system that allows its users to access multiple chains simultaneously. It is “hyper-decentralized”, meaning that it executes and stores data in multiple blocks of blocks instead of just one.

It's not clear exactly how the Overledger OS works, but it's based on Google's open source Kubernetes technology. This technology allows an application to support a large number of users without crashing, automatically correcting any errors found.

Users have to pay an annual licensing fee. Purchasing this license allows users to create mApps on the operating system. They are different from dApps, which are built on a single blockchain (mostly Ethereum).

A mApp is made up of Treaty Contracts, programs that run multiple smart contracts on different blockchains. How fast these mApps run depends on which blockchain was used to create them. For example, a mApp built on Ethereum would only be able to run 15 transactions per second, while a mApp built on Solana would be able to run 65.000 transactions per second.

Different resources from different blockchains can be used to run these mApps. For example, you can use Solana for its speed and Bitcoin for its privacy features.

The Overledger Network Marketplace allows people to buy and sell mApps and their data. Transactions on this market are executed through Treasury , smart contracts created in Ethereum. The Treasury charges a small fee that goes to the Quant Network.

Companies use the Treasury to pay in fiat for licenses which are then used to buy QNT tokens. These tokens are locked in the Treasury for the duration of the license.

Finally, the QNT currency is an ERC-20 token that is used to access the Overledger platform in the Quant Network ecosystem.

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What is Quant Network

Who is behind the Quant Network cryptocurrency?

The company Quant Network was founded by Gilbert Verdian in 2015. He came up with the idea of ​​a system that allows interoperability between multiple blockchains when working in the healthcare industry. Prior to founding the company, Verdian held prestigious positions at companies including BP Oil, Price Waterhouse Coopers and Ernst & Young.

In 2015, Verdian founded the ISO Standard TC307 Blockchain, which is now being used by 57 countries for blockchain development. The ISO TC307 standard will make interoperability between different block chains possible and will allow block chain networks to function within existing systems and networks that are in use today.

Verdian believes that interoperability will usher in a new era of innovation and productivity. For example, KYC compliance would no longer be required if there were shared databases that already contained all the information.

"A good example," says Verdian, "is the recognition of a person's identity by an entity on a blockchain that will be recognized and understood by every other blockchain and every entity connected to them."

Verdian's vision of interconnected blockchains might seem a bit ambitious, considering his own site says blockchain interoperability was considered irrelevant, and it was believed that a single blockchain would take over the market instead. Despite that, Verdian realized how important interoperability would become for mass adoption to happen, and he's been at the forefront of the problem ever since. Verdian believes the Quant Network is a unique design, which is why most of the technology it uses is patented.

QNT Token Price History

As of early 2021, the price of QNT is around $37,15. It reached its all-time high of $94,46 at the end of June 2021. After just a few days, the price dropped to $68,68 and a week later it rose back to $80,15. The fall from its highest point can be attributed to the FUD caused by the ban on bitcoin mining in China.

What is Quant Network
QNT price history from March 2021 to July 2021

Despite this, however, it seems to be pretty stable considering that most other altcoins on the market aren't doing very well.

Currently, the classification of CoinMarketCap of QNT is 75th and has a market capitalization of $970 million with a circulating supply of 12 million QNT.

QNT will likely see its price rise, because what Quant Network is doing is unique and innovative, and will encourage mass adoption of blockchain technology.

What is the future of the Quant Network cryptocurrency?

Quant Network's goal is to create an ecosystem that connects all blockchains and DLTs, making it easier to transfer data and applications from one network to another. The Quant team doesn't just want to restrict itself to encryption – it also plans to introduce its technology into other sectors such as healthcare, supply chain and financial services.

Verdian wants Quant to be Microsoft or the Apple of the blockchain. He wants to use his connections in the public and private sectors to present the Overledger OS as the interoperability solution for governments and central banks.

Verdian is clearly ambitious and has big plans for Quant. He's been pushing companies to adopt blockchain technology since he first heard about it in 2009.

Quant Network's ICO was held in 2018, but it only managed to raise $11 million, selling only 10 million tokens despite a strict $40 million limit. This caused some problems at first as the team was not able to reach most of its milestones.

In July 2020, however, they received an undisclosed amount of funding from Alpha Sigma Capital, which helped them achieve the goals they had outlined in their roadmap.

Quant Network doesn't have much competition at the moment, which may make it easier for them to become the dominant player offering a solution to the interoperability problem, but it also means that what they set out to do may not be as easy as it sounds.

Currently, QNT is not listed on most major exchanges, which makes you wonder what Quant Network's plans are for it. What will happen to QNT when the Overledger OS goes mainstream? This is something that only time will tell.

Conclusion

Gilbert Verdian, the founder of Quant, is passionate about this project and has been an advocate of blockchain technology for many years. The issue of interoperability has been around for a long time in almost every industry.

Quant Network is working with governments, central banks and many other organizations to revolutionize the way it all works. Quant Network is not a blockchain, but an ecosystem that aims to connect blockchains to all other existing networks.

Quant Network is solving a problem that will surely lead to mass adoption of the blockchain and change the way data is recorded.

More information about QNT

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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