At the time of writing this, $QNT is trading on Binance CEX for $110 dollars with 24h volume of 6.3 million $USDT. The coin's ATH is situated at $228.
So what is QUANT?
Quant is a plug-and-play solution that connects blockchains and enterprise software without the need for new infrastructures. Different blockchains communicate with each other using distributed ledger technology (DLT) and applicant programming interfaces (APIs) on the Overledger API gateway.
It’s also an ERC20-compatible coin (being that Quant exists on the Ethereum network). $QNT crypto is defined as 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. While the technology may seem complicated, the API gateway claims to create routes to link up all types of technology, so businesses do not need to alter their whole technological ecosystem to incorporate blockchain into it. The coin describes itself on its website as “connecting all the world’s distributed ledgers for faster, more efficient growth”, and says it wants to provide its interoperability solutions to governments, businesses and individuals.
Lots of information there.. And I will get into details and purpose of their technology in a bit, but we can’t without understanding what Overledger is and Quant’s utility.
Overledger is designed as an enterprise-level solution that integrates with various DLTs involved in business operations. With regard to supply chain; for example, different DLTs might be used for logistics, provenance, customs and payments, but often these DLTs cannot communicate. Overledger is a solution to this problem and enables efficiency.
Quant network is made of the Overledger OS and the Overledger Network. Notable that Overledger OS is patented, not open source. It allows users to create mApps (multichain applications) which can be built on multiple blockchains, over smart contracts like most DeFi apps. 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.
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.
What is DLT?
DLTs are at the core of Quant's technology. The term "Distributed Ledger Technology" (DLT) refers to the technological architecture and protocols that allow concurrent access, record validation, and immutable record updating across a network that is dispersed among numerous entities or locations. It enables the secure functioning of a decentralized digital database. Distributed networks eliminate the need for a central authority to keep a check against manipulation.
How does $QNT Network work?
So as explained, the Quant Network aims to solve blockchain interoperability issues using Overledger, an application programming interface (API) gateway that supports several distributed ledgers. The Overledger operating system allows programmers to develop mDApps that support widely-used blockchains. This is possible thanks to its 4 architecture layers: The Transaction, Messaging, Filtering & Ordering, and Application Layer.
The transaction layer is seperated in different ledgers. Transactions that have been verified using DLT are stored in the Transaction Layer (another ledger cannot confirm already validated txns). The Messaging Layer is a shared channel where transactions from all ledgers are recorded: this information is all taken from the previous layer. Because the information about the transactions is wrapped, allowing all transactions from all ledgers to be aggregated, the Transaction Layer is unaware of the contents of the Messaging Layer.
The filtering and ordering layer then, as expected, filters and orders the messages coming from the Messaging layer, and makes sure it matches with the requirements and schema of the application.
The Application layer is the control unit, since it establishes the guidelines and procedures for communicating with the blockchains, thus taking control of all other layers. In this layer, each multichain application is isolated from the others.
Quant’s Overledger vs. Ripple Interledger Protocol
Let's compare the overledger to an already familiar technology.
Ripple’s Interledger facilitates the transfer of funds via a network of linked ledgers from the source to the intended recipient utilizing the connectors. It has no native token. Quant on the other hand, using an API gateway, uses the Overledger to enable interoperability between permissioned and permissionless blockchains. Stakeholders on various blockchains utilize $QNT to transact.
The overledger technology can be implemented with the use of mDapps. These can be utilized as a plug-and-play setup and can operate across any DLT. In Ripple's interledger protocol a custom connector is required to bridge two DLTs. Fault tolerance also depends validators, while the overledger is protocol based.
So what’s so good about it’s utility?
So first of all: it’s built from scratch, so Quant doesn’t experience some of the restrictions that come with many other DLTs. It can be installed seamlessly, without prior knowledge of cryptography or programming. Users can also connect to any digital ledger system: so the platform offers great flexibility. No other crypto will be able to fork its technology, so it makes QUANT unique. The Overledger OS is flexible, offering users a wide range of capabilities, including mApps and MLTs. This is also the reason the likelihood of a security breach or whatever is low: Quant cannot be forked or lose communication with its multiple ledgers.
Quant's Products
In 2022 alone, Quant has issued 22 new releases of Overledger with new functionality - this is from the official Quant site:
Secure smart contracts: Customers can quickly and easily create enterprise-grade, highly secure smart contracts. Using templates, customers can choose pre-set attributes and functionalities for the type of smart contract desired. Users can then use a REST/JSON API to conduct various payment operations through Overledger’s API.
QRC-20 tokens: The ability to issue and mint new QRC-20 interoperable digital assets and tokens that are built for institutional use cases, such as commercial stablecoins.
Blockchain based payments: Released our Overledger endpoints to perform blockchain-based payments and account management functions as a foundation to power CBDCs and stablecoins.
User interface: Launched beta-version of a new tokenisation API with a new user interface to easily view and deploy tokens.
New support of distributed ledger networks: We added new support for popular DLNs, including Polygon, Polkadot, Ethereum Goerli testnet (proof-of-stake), XDC and Hyperledger Fabric.
$QNT token
So onto the QNT token itself, as you might’ve expected, $QNT is the token used in the quant network: its main role is to provide digital access to a particular service or an application (MApp) which are made part of the Quant platform. The access is provided to both users and developers.
The total supply of QNT is 16 million tokens. This is split into the following:
9,964,259 — Amount sold to the public during the ICO
2,649,493 — Is for the company reserve and used for Research and Development, Facilities, Infrastructure, Legal / IP, Marketing, Exchanges
1,347,988 — is for the company founders
650,753 — is for the company advisors
For more information the tokenomics, I'd consult their official whitepaper. Great to note is that $QNT has 0% inflation.
So closing thoughts:
In my personal opinion and feel free to disagree, Quant has an enormous chance of becoming huge and is an excellent long term hold: great project and great tech. Of course, the main question is whether businesses or institutions actually want or need to connect up legacy technologies with blockchain, or indeed if bridging these gaps is even possible, remains to be seen. Another important question to ask is whether it is really a lack of scalability that’s hindering mainstream uptake or lack of demand. Quant is still relatively small compared to industry leaders like Ethereum, but that leaves plenty of room to grow and (speculation) personally think $QNT can reach over the years a price in the thousands.
