$QNT
Why You Should Invest On Quant?
Part 2
What Is Quant Cryptocurrency ?
QNT token is the native cryptocurrency of the Quant network. QNT is an ERC-20 token However, it is blockchain independent and can easily switch to any other blockchain. The Swiss Financial Market Supervisory Authority (FINMA) governs QNT as a utility token that aims to give users online access to an application or service.
Developers require QNT tokens to build on the Overledger platform. However, licenses to use Quant Network’s services are purchased by developers using fiat currency, which is then converted to QNT crypto by the Quant Treasury. This implies that businesses can make compliant purchases without dealing with exchanges directly.
Similarly, payments for read-and-write operations to Overledger must be made in QNT based on a fiat value that the Quant Treasury converts to QNT tokens. Additionally, if developers decide to monetize their applications, they can charge subscriptions in QNT, fiat or any other digital currency.
Moreover, in order to use multiple decentralized applications (mDApps) and access the Overledger ecosystem, end users will also need to hold QNT tokens. For instance, they will need QNT to renew their license key annually.
How does Quant (QNT) Network work?
The Quant Network aims to solve blockchain interoperability issues using Overledger, an application programming interface (API) gateway that supports several distributed ledgers. An API is a means of communication between two or more computer programs.
The Overledger operating system allows programmers to develop mDApps that support widely-used blockchains. The Quant Network is able to do this thanks to the Overledger protocol architecture’s four separate layers.
Transaction Layer
Transactions that have been verified using distributed ledger technology are stored at this layer. This implies that another ledger cannot confirm already validated transactions. By consolidating all related activities onto a single layer, Overledger simplifies the actions required to reach consensus.
