Quant (QNT) is a native token on Quant Network, which can be called a blockchain operating system — a platform designed to bring interoperability to the blockchain world by serving as a bridge between the different distributed ledgers. It was founded in 2018. Quant’s CEO Gilbert Verdian is an experienced tech manager. His previous work included making sure that there’s interoperability between different healthcare platforms, where he got the idea for Quant.
Quant’s Overledger Network, which is its main product, is an enterprise solution using API gateway as a way for companies to connect their blockchain project to multiple blockchains. Blockchain developers can also make multi-chain applications (MAPPS) based on the Overledger platform.
Quant is designed to work with any distributed LEDGER architecture, not just those based on blockchain technology, but also, for example, DAG. Unlike Layer 2 solutions, deploying Quant doesn’t require making changes to the existing DAG or blockchain infrastructure — REST API provides an easy way to connect to the chain.
Quant (QNT) coin is a utility token that enterprises and developers have to purchase and lock in a payment channel in order to use the platform. QNT crypto token also serves as an annual fee to operate the gateway, in exchange for a percentage of the transaction fees.
How Does Quant Work?
The Quant protocol was designed to remove barriers commonly encountered on blockchains in communication, interoperability and scaling. To achieve this, layers are matched to tasks for which they’re best suited, as follows:
Transaction Layer: On this layer, storage of transactions is paramount. Both varied and isolated ledgers are used to place related operations in one layer and verify them across the blockchain. Once a transaction has been validated, it cannot be invalidated under any circumstance. Everything needed for consensus across blockchains occurs on this layer.
Filtering and Ordering Layer: This layer also handles messages. Unlike the messaging layer, however, it involves filtering searches into specific results. Every message on the digital ledger system is placed on a first-come, first-served basis, and is kept neatly in a database. When validation of an off-chain message is required, the filtering and ordering layer is responsible for validation, since it’s the only layer with the history of messages transferred throughout the protocol. Thus, developers can set specific tasks, e.g., allowing an application to transfer tokens to a particular network once they’re deposited on the DApp.
Messaging Layer: This layer deals with information and data transfer. Three types of data can be processed: smart contract data, metadata and transaction data. Metadata is used to interpret messages and translate them into different languages for different blockchains to understand.
Overledger Network
The Quant Overledger Network is to secure the transfer of information and data on Quant. It uses another protocol — the Overledger DLT — to fulfil this task. When a user is connected to the protocol, data can be exchanged with any two blockchains within the system.
Overledger DLT Gateway
The Overledger DLT Gateway is specifically made for a large clientele. Its main role is to assist the system with interoperability between its distributed ledger system and networks. What can be transferred smoothly using the DLT? The answer is data, non-fungible tokens, smart contracts, fungible tokens, and even IDs. One defining attribute of Quant’s Overledger DLT Gateway is that a smart contract can be written in any programming language, from Hyperledger fabric to Ethereum.
Quant (QNT) mDApps
mDApps are another unique feature found on the Quant protocol. Decentralized applications (DApps) are blockchain-based, and mDApps allow different DApps to work on as many blockchains as possible. With mDApps, developers enjoy the advantage of each blockchain without having to necessarily deal with its restrictions. A developer can enjoy the consensus from one chain, and acquire data from another.
Quant Tokens
QNT are tokens whose 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.
In addition to the number of tokens, the access fee will be also based on the fixed fiat currency amount. For example, the consumption fees for developers and enterprises in the amount of USD 10 per month entail making payments to the Quant Treasury based on the equivalent price in QNT tokens.
With the rise in the number of users and the accompanying change in the demand for QNT, the total number of the tokens required for access to the platform and applications may vary depending on the value of tokens and their number in circulation these figures stand at more than 9 million out of 14.6 million in total supply and the market cap for Quant stands at USD 34 million. Fixing the value of access fees to fiat values should allow the developers to hold more flexible amounts of QNT since its price may change in relation to the fiat.
My final thoughts Quant will go up and most of the experts think so. Its price could grow to $500 or even more in the next year and hit $1,000 in the long run. Quant’s developers are very busy, so I expect that they will be hard at work on more innovations that can speed up its growth even further.
