What Is Quant (QNT)?

Widespread adoption of blockchain technology has been hampered by the challenge of integrating legacy systems with distributed ledger technology (DLT) — and with the problem of interoperability between blockchains. Quant is attempting to solve these problems with its Overledger DLT gateway, providing interoperability across global networks and blockchains. QNT crypto is the native token of the project, which lives on the Ethereum blockchain.

This guide explains what Quant is, how it works, and how it could change the way data, information, and assets move across the digital financial ecosystem. Quant’s native token, QNT crypto, provides access to various services and apps on the Quant platform.

How Does Quant (QNT) Work?

Quant is a plug-and-play solution that connects different blockchains and enterprise software without the need for new infrastructure. Different blockchains communicate with each other using distributed ledger technology (DLT) and applicant programming interfaces (APIs) on the Overledger API gateway.

The QNT coin is a form of cryptocurrency native to the Quant network — and is also an ERC20-compatible coin (being that Quant exists on the Ethereum network). QNT crypto is typically considered a utility token, as it’s used to pay for apps and services on Quant and can be used for staking/holding and paying licensing fees.

What Is Overledger?

Overledger is designed as an enterprise-level solution that integrates with various DLTs involved in business operations. With regard to supply chains, for example, different DLTs might be used for procurement, logistics, provenance, customs and payments — yet too often these DLTs cannot communicate.

Overledger helps to eliminate this problem with the use of a single API that enables the efficient creation of apps that can use all DLTs simultaneously.

Overledger and mApps

The Quant network is comprised of the Overledger OS and the Overledger Network.

The Overledger OS is a patented technology, not open source, and it allows users to create and access multi-chain applications (mApps). Rather than using smart contracts like other DeFi apps, MApps rely on treaty contracts — which enable users to build applications on multiple blockchains. Equally important, the features of a given mApp reflect the blockchains it is built on, not the Overledger OS.

The Overledger Network consists of the developers and enterprises that use the Quant Network. Here, they pay an annual licensing fee for using the technology. Users can also sell their created mApps and data on the Overledger Network Marketplace.

Multi-ledger Tokens

Quant also supports multi-ledger tokens (MLTs), digital assets backed by fiat funds held in escrow with a financial institution. These MLTs serve central banks, banks, fintechs, closed-loop payments, marketplaces, and micropayment platforms. MLTs can be used as stablecoins, vouchers, loyalty points, and as eMoney for fast and transparent cross-border bank payments.

Advantages and Disadvantages of Quant (QNT)

As with all cryptocurrencies, Quant has unique characteristics that make it an appealing investment — though investors should also consider its potential disadvantages as well.

Advantages

Since it’s built from scratch, Quant doesn’t experience some of the restrictions that come with many DLTs. It can be installed seamlessly, without prior knowledge of cryptography or programming.

Quant users can connect to any type of digital ledger system, irrespective of their position. Developers, individuals and even public workers can use the network without prior programming knowledge. This combination of flexibility and ease give the platform great appeal.

Quant can neither be forked, as some other cryptocurrencies have, nor lose communication with its multiple ledgers, so the chances of a security breach on the network are extremely low.

Disadvantages

Relative to a first mover like Ethereum, of course, Quant is still relatively small. There are only 14.6 million Quant crypto, with about 12.1 million in circulation, as of March 8, 2022. And despite its vision for solving the problem of global interoperability, that capacity has not yet been fully tested.

That day may come, however, as governments begin to issue digital fiat currencies — such as digital dollars, euros, yen. As that occurs, and the problem of seamless communication between blockchains emerges as a larger challenge, it will be interesting to see if Quant’s solutions are widely adopted.

Who Created Quant (QNT)?

Quant was founded by Gilbert Verdian, the current CEO, in 2018. The project was funded through an initial coin offering (ICO) that raised $11 million.

Verdian is a 20-year veteran of the security industry and was also founder of the Blockchain ISO Standard TC307. Jean-Paul de Jong is chief architect of Quant, and Colin Paterson is chief technology officer.

Verdian was inspired by his time working for Australian and UK governments, which enabled him to see the coming challenges with interoperability — and begin to devise a solution.

Why Does Quant (QNT) Have Value?

Quant is a unique operating system that links blockchains for interoperability. Although interoperability is one of the cryptoworld’s current buzzwords, Quant could be poised to be a market leader in this area if their innovations prove relevant, timely, and successful.

Some Quant investors are anticipating the mass adoption of blockchain technologies and are betting that Quant will be the go-to platform to make them work interdependently.

Quant is also forging partnerships with central banks such as the Federal Reserve of the U.S., the European Central Bank, the Bank for International Settlements, and finance regulatory bodies such as the Financial Conduct Authority in the hope that Quant will play a leading role in overhauling global financial systems.

Price of Quant (QNT)

While some analysts predict a rise in the price and volume of Quant in the future, QNT crypto remains far below its historic high of $428.38, with a value of $111, as of March 8, 2022.

Quant’s current market cap is $1.3 billion, with 12.1 million coins in circulation, against a total supply of 14.6 million QNT coin. The price of Quant rose to around eight times its value at the beginning of 2021.