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Quant is a leading-edge technology enterprise based in London that seeks to realize universal interoperability across blockchains via its Overledger OS, a unique blockchain operating system. Its principal product, Overledger, operates as an API gateway, providing an abstracted interface to underlying permissioned and permissionless blockchains through a unified portal. In addition, the Overledger Network serves as a communal platform that hosts remote connector gateways for processing Overledger transactions.
Established in 2015 by Gilbert Verdian, Quant Network operates as a distributed ledger technology (DLT) provider. Its core mission is to empower enterprises to build easily interoperable applications capable of spanning multiple blockchains. A short while after its foundation, the network launched its native token, QNT, providing fuel for its operations. The brainchild of Verdian's vision to enhance global information exchange, the Quant protocol harnesses DLT to address interoperability issues in the blockchain sphere.
The Quant protocol aims to address interoperability issues in the blockchain sector. It enables communication across multiple blockchain platforms through its Overledger DLT Gateway, which supports interoperability among major decentralized Layer 1 blockchains such as Bitcoin, Ethereum, Ripple, as well as enterprise-grade blockchains like ConsenSys Quorum and Hyperledger Fabric.
The protocol's ultimate goal is to achieve easy interoperation, leading to a more evenly distributed ledger technology landscape. Thus, it's often referred to as a kind of operating system or software that connects all blockchains. Quant's protocol is designed to overcome the typical hurdles encountered on blockchains, including communication, interoperability, and scaling issues. It accomplishes this by assigning different network layers to tasks that are best suited to them:
・Transaction Layer: This layer is primarily focused on storing transactions. It uses various isolated ledgers to group related operations into one layer and authenticate them across the blockchain. Once a transaction is validated, it cannot be invalidated.
・Messaging Layer: This layer handles data and information transfer. It can process three types of data: smart contract data, metadata, and transaction data. Metadata is used to interpret and translate messages into different languages understood by different blockchains.
・Filtering and Ordering Layer: Unlike the messaging layer, this layer filters searches into specific results. It organizes every message on the digital ledger system on a first-come, first-served basis and stores them neatly in a database. This layer is responsible for validating off-chain messages as it maintains a history of all messages transferred throughout the protocol.
・Application Layer: This final layer controls all other layers by establishing communication rules that all blockchains must adhere to.
Developers can assign specific tasks to these layers, like enabling an application to transfer tokens to a particular network once they’ve developed a decentralized app (DApp).
Pros of Quant Network
・Quant is built from scratch, circumventing most DLT restrictions. It can be installed seamlessly, without any prior knowledge of cryptography or programming.
・Users can connect to any digital ledger supported by Quant’s Overledger DLT Gateway, without needing prior programming knowledge. This blend of flexibility and ease gives the platform great appeal.
・Quant cannot be forked and never loses communication with its multiple ledgers, making a security breach on the network highly unlikely. Unlike other distributed ledger systems, the Quant Network doesn't store data on the gateway, but uses a standards-aligned API for added security.
Cons of Quant Network
・One of the common phrases in the crypto world is, "Not your keys, not your coins." Given the significant role of centralized exchanges in the interoperability space, the strength of an exchange directly impacts the safety of your QNT tokens. If a breach occurs, your tokens may be at risk.
・To disrupt traditional finance systems, Quant must delve deeper into the blockchain industry and gain enough strength to compete with traditional finance companies.
QNT, the Quant network's native token, is an ERC-20 token with three primary uses including payment for accessing network resources, licensing fees for gateway operators, and compensation for gateway operators facilitating and managing transaction traffic. As of now, QNT (Quant) is ranked #38 by CoinMarketCap with market capitalization of $1,608,939,724 USD. The current circulating supply of QNT coins is 12,072,738.
Investing in Quant holds several prospects. Its remarkable growth rate since its inception, combined with continuous developments and improvements, makes Quant a potentially excellent long-term investment. The platform has been consistently advancing its ecosystem, and its strategic partnerships, coupled with innovative functionalities, make it an appealing choice for those willing to invest in the long term.
Quant’s development and potential for future growth, as well as its partnerships and consistent platform upgrades, make it a project worth considering. The platform has been increasingly integrated with other networks, which further boosts its potential. In March 2023, Quant Network announced a strategic partnership with the Avalanche blockchain via its Overledger platform's latest upgrade, aimed at improving transaction speeds and reducing costs for its customers. Quant is also leading the Secure Asset Transfer Protocol (SATP) Working Group to provide a secure method of asset transfer across various DLT networks. The ambitious team at the helm and these significant advancements make the Quant Network, particularly its utility token, QNT, an attractive prospect for long-term cryptocurrency investors. This token has positioned itself as one of the few available utility tokens, thereby drawing substantial investor interest. However, potential investors should conduct thorough research and consider the volatile nature of the crypto market before committing their funds.