There are various blockchains working on various use cases, but the majority of blockchains are not able to scale and they are unable to run on other blockchain networks.
This is where Quant comes in, which offers blockchain networks a platform called Overledger Network that connects different blockchain networks.
When was Quant launched?
Launched in June 2018, Quant’s only mission was to connect blockchains and networks on a global scale, without reducing the efficiency and interoperability of the network. It was the first blockchain network to solve the interoperability problem through the creation of the first blockchain operating system.
Quant was the first to build an operating system based on distributed ledger technology for blockchains. It was built as an OS for connecting different blockchain networks.
The main aim of Quant’s ledger network was to bridge the gap that exists between different blockchains. Its ledger network allowed developers to build decentralized multi-chain applications (known as MApps) for their customers.
What is Quant USP?
Ever since distributed ledger technology and blockchain technology have been introduced, developers have managed to develop use cases for all sectors from banking & finance, stocks, education, data privacy, energy, mining, NFTs, gaming, gambling, real estate, e-commerce, storage, music, arts, marketing, research, artificial intelligence, sports, health, media, and others.
But, there has been a problem with interoperability between these projects for which Quant was built to fill the gap of various blockchains that can work on a single platform.
Quant’s Overledger is designed to act as a gateway for any blockchain-based project and access all other blockchains. Built on the Ethereum platform, Quant also works in connecting an application to other applications in the same blockchain ecosystem.
Instead of creating multiple blockchains for interacting with other platforms, Quant creates different layers for applications to interact at different levels. It has different layers for transactions, messaging, filtering, and ordering, and an application for sharing and referencing identical messages related to other applications.
It also has an App store, which has the ability to read and monitor transactions across multiple ledgers. Developers can also use the store to create and release multi-chain applications (MApps).
What is Overledger Network?
According to Quant.network, Overledger Network is a network of networks that connects participants in a safe and secure manner through the use of Overledger DLT Gateways and Overledger Remote Connector Gateways.
The network connects trusted ecosystems together and allows the exchange of data and value, regardless of the underlying technology, in a secure way.
It is also looking to provide an extension to the current model of the Internet, that will enable an internet of value based on multiple distributed ledger technologies and hyper-decentralized applications.
How does Quant’s interoperability work
Quant’s blockchain doesn’t add any additionally distributed ledger, consensus, complexity, forks on other ledgers, nor interact with the application layer, but sits on top of them.
This makes Overledger DLT Gateway flexible, scalable, future-proof, and able to interact with many different ledgers at the same time.
It provides a straightforward REST API for interacting with and across DLT Gateways, and a standardized model that works across the whole range of DLTs, making the creation of Dapps and mDapps vastly easier.
What are mDapps
mDapps are the multi-DLT version of decentralized applications that interact with multiple ledgers. On the other hand, Dapps are limited to interaction with a single specific ledger.
mDapps enable users to benefit from the simultaneous use of multiple ledgers. It is designed to expand user reach for enterprises and developers.
In addition to this, Overledger DLT gateway also enables smart contracts that can be written in any programming language on any distributed ledger technology that does not natively support smart contracts.
With over $713 million in market capitalization as of 12 May 2022, Quant was trading at $58.93 pet QNT with 24 hours trading volume of $116 million. QNT recorded the all-time high of $393 per token on 10 September 2021, against the all-time low of $0.21 on 23 July 2018. With a maximum supply of over 14.61 million QNT, close to 12.07 million QNT are under circulation.
The balance of 2 million tokens is held by the company, which are unlocked and could be sold or issued at any time.
Team behind Quant?
Quant was founded by Gilbert Verdian who had worked for the United Kingdom government treasury in 2009 and later joined Australia’s Department of Health as Chief Information Security Office.
While working in the healthcare sector, Verdian identified the importance of interoperability in ensuring that patients registered on different platforms can be brought under one platform, so that services to the patient can be standardized.
There are many crypto projects use cases that work in the health sector, but have their respective chains. After using Overledger Technology, all these platforms will be able to connect to each other and gain access to the data of other blockchain platforms, without leaving their chain.
Dr. Paolo Tasca was the Chief Strategist and Executive Board Member of Quant Overledger. He is an entrepreneur, a digital economist who specializes in distributed ledger technology, and also the governing board chair of the Retail Blockchain Consortium.
Dr. Tasca has offered his service as the special advisor on blockchain technologies for the European Union Parliament, the United Nations as well as many central banks globally and has also co-authored many books on fintech & blockchain.
Other key persons include chief architect Jean-Paul de Jong and Peter Marirosans (CTO), Dr Luke Riley Head of Innovation, and Andy Nelson Head of Systems & Architecture.
QNT on Klever Wallet
Users can swap QNT with nine pairs on the Klever Wallet app. With QNT you can get Klever (KLV), Ethereum (ETH), Tether (USDT), Tron (TRX), Binance USD (BUSD), Bitcoin (BTC), wrapped ETH, wrapped BTC and Tron based USDT.
With the work Quant is doing in the area, it has become one of the pioneers in connecting independent blockchains. It also helps different blockchains interact with each other and scale their operations without migrating to other chains or building their own chain.