What is Quant?

Read Time:6 Minute, 1 Second

Quant, better known as QNT is an Ethereum token that is used to power Quant Network’s Overledger brand of enterprise software solutions, which aim to connect public blockchains and private networks. Quant Network allows the creation of so-called mDapps that enable decentralized applications to operate on multiple blockchains at once. My name is Rico Richardson, and in this post I’m going to tell you all about it!

Background

With advances in distributed ledger technologies, we see a shift in the way people and companies interact and connect with each other. Quant is leading in this field. They are the developers of the Overledger DLT Gateway. This is the worlds first DLT gateway for companies that delivers them interoperability across different networks, DLT’s, and systems.

DLT stands for Distributed Ledger Technologies. This refers to the technological infrastructure and protocols that allows simultaneous access, validation and updates of records across networks that spread amongst several or multiple entities or locations.DLt was introduced by Bitcoin and is all about a decentralised world vs a centralised world.

DLT interoperability focuses on the interaction of assets and information between different chain systems. Distributed Ledger Technology (DLT) is a protocol that enables the secure functioning of a decentralized digital database. Distributed networks eliminate the need for a central authority to keep a check against manipulation. The information is being stored by using cryptography and this information can be accessed by using cryptographic signatures, and so called keys. The core of a DLT, is that they are immune to cyber attacks because all copies are stored across the network and need to be attacked at the same time before it will be succesful. Also, the peer to peer connections makes everything go a lot faster.

Quant technology has been founded by Gilbert Verdian. who worked for the UK government and department of health in Australia while realising the full potential of DLT’s. He basically went against the market because everybody thought that a single DLT or blockchain would be the solution while his vision was that the market would continue to fragment. Being on the frontline of interoperability, he was at the forefront of establishing the Blockchain ISO Standard TC307. Which is the international effort of 57 countries and organisations that work together to standardise the technology. The other two founders are Colin Paterson and Paola Tesca who are no longer with the company.

Quant’s technology delivers enterprise-grade interoperability for the secure exchange of information and digital assets across any network, platform or protocol, at scale and with no extra overhead. Quant’s Overledger, the world’s first DLT gateway, complements and connects existing systems and DLTs, to drive innovative and efficient growth for companies, public entities, and regulatory bodies alike. They also hold patents and have several pending ones.

It was first announced in 2018 and funded through an ICO in which 11 million was raised out of a 36.9 million hard cap.

So why would people or entities use the QNT overledger?

They use three main reasons. The first is Universal interoperability. Providing a secure, simple and cost effective API connection to all DLT’s. The second is Enterprise orientated. They claim to be fully compliant with regulatory rules and guidlines and to provide the highest levels required by organisations and governments. And final, being fit for the future due to being fully aligned with current and emerging ISO standards. Quant has made a video on their product, and let’s listen to Martin Hargreaves their CPO explaining how he sees the technology being used in the mid market:

The Overledger platform incorporates a multi-layer model to help support secure DApps and communication across multiple blockchains. In short, there are 4 topics:

Number 1: The Transaction Layer. Used for storing transactions and achieving consensus across multiple DLTs.

Number 2: The Messaging Layer. Used for processing information from connected ledgers, such as transaction, smart contract, and metadata information.

Number 3: The Filtering and Ordering Layer. Filters and orders messages from the messaging layer and orders out of chain messages into verification blocks.

Number 4: The Application Layer. Used to isolate MApps and help applications to communicate with one another via the Messaging and Filtering and Ordering layers.

Quant token

Quant also has it’s own utillity token called QNT. It’s designed to have several functions within the Quant ecosystem. Beginning with the fact that companies and developers that want to use the overledger technology platform, need to purchase a licence. The money goes into the Quant treasury in fiat and is then used to buy the QNT token. The users also need this QNT token to pay an annual fee for running a gateway. Like tokens as BNB and SRM, the QNT token also gives a cut in transaction fees.

Tokenomics

Let’s talk about the tokenomics,

The max supply of QNT tokens is set at 14,612,493 tokens.

The QNT tokens were split in the following way:

9.9 million QNT tokens were sold to the public during the ICO;

2.6 million QNT tokens were assigned to the company reserve, to keep the project running;

1.3 million QNT tokens were reserved for the company founders;

651,000 QNT tokens were issued to the company advisors.

Currently, the circulating supply of the token is 12,072,738 QNT. The extra 2 million tokens are held by the company. These tokens are unlocked and could be sold or issued at any time.

Where to buy

If you’re looking to buy the QNT token, you can do so on several exchanges like Coinbase, Kucoin and Binance. QNT can be traded against cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), stablecoins such as Tether (USDT), and fiat currencies such as the euro. Data from Cointelegraph Markets Pro and TradingView shows that since reaching a low of $178 on Sept. 1, the price of QNT has surged 117% to a new all-time high of $387 on Sept. 6 as its 24-hour trading volume spiked to a record $740 million.

In the last few months, QNT was added to Coinbase and Binance, which helped its 24-hour trading volume jump from a daily average of $9 million to over $740 million on Sep. 6. Three main reasons are being mentioned for this rally. It’s protocol upgrade to Overledger 2.0.5, the launch of the Quant developer program and increased access to its supply after being listed on the largest crypto exchanges. Overledger 2.0.5 is released to bridge ecosystems with Stablecoins, DeFi, NFTs & popular ERC20/ERC721 digital assets for clearing & settlement.

 The new Payment API settles between different digital asset types with a few lines of code.

In the last few months, QNT was also added to Coinbase and Binance, which helped its 24-hour trading volume jump from a daily average of $9 million to over $740 million on Sep. 6.

So, is QNT something you’re looking to invest in, or did you invest in order tokens? If so, let us know in the comments which ones. That’s it for this post, if you’d like a visual presentation, please check out this video: