Table of Contents
Quant is a platform with a blockchain that has the goal of providing enterprise-grade solutions to organizations and businesses. The QNT token serves as the primary means of payment and grants access to special features on the Quant network. Focused on enterprise use cases, Quant is positioning itself to be a leading player in the adoption of blockchain technology in traditional business settings.
Key Takeaways
The Quant Network has expertise in constructing links between different blockchains that already exist.
Overledger, a blockchain gateway, is the primary component of the Quant Network, which enables corporations and governments to link their offerings to several blockchains and transfer data between platforms seamlessly.
QNT serves as both a payment method on the Quant Network and a governance token. Users can cast votes on essential matters related to the initiative.
Quant’s flagship product, Overledger, acts as a blockchain gateway that empowers organizations and governments to connect their products with multiple blockchains and effortlessly transfer data between different systems. This is particularly advantageous because various organizations operate on different blockchain networks built using distinct coding languages and software development kits. This makes it challenging to establish connections and transfer data between them.
By furnishing the necessary infrastructure to overcome these technical barriers, Quant endeavors to facilitate the frictionless exchange of data between various blockchain platforms.
How does Quant work?
The Quant Network aims to solve interoperability between different blockchains using Overledger, an application programming interface (API) gateway that supports multiple distributed ledgers. An API is basically a set of rules and protocols that enables multiple computer programs to communicate with one another.
Overledger is a blockchain operating system that allows programmers to develop dApps that can work across multiple widely-used blockchains. This is possible through using a four-layer protocol architecture that enables seamless communication and interaction between different blockchains. The main goal is providing a unified and interoperable platform for building and deploying dApps that can operate across a wide range of blockchains.
Transaction Layer
Overledger’s transaction layer serves as a storage for verified transactions processed using distributed ledger technology. This ensures that a transaction can only confirm once across all ledgers, preventing double spending and improving security. Overledger also consolidates related activities onto a single layer, streamlining the consensus process across multiple blockchain domains. This simplifies the actions needed to achieve agreement on the status of transactions across different blockchain networks. It basically makes it easier to exchange information and assets between them.
Messaging Layer
The Messaging Layer in Overledger is a shared channel where transactions from all ledgers are recorded and aggregated. This contrasts the transaction layer, which divides into separate ledgers. The messaging layer provides a unified view of all transaction-related info from each ledger in the transaction layer.
The transaction layer is unaware of the contents of the Messaging Layer because the data regarding the transactions is wrapped and encrypted. This allows all transactions from all ledgers to be combined and processed in a unified way. As a result, the Messaging Layer serves as a bridge between the transaction layer and the other layers in the Overledger protocol architecture, enabling seamless communication and interaction.
Filtering and Ordering Layer
The Filtering and Ordering Layer in Overledger is responsible for sorting and organizing the messages from the Messaging Layer referenced in the digest of out-of-chain messages. This layer also ensures that these messages conform to the specific requirements and schema of dApp using them. For example, a dApp might specify that a certain number of coins must transfer for a transaction to be valid, or it might only allow transactions from or to specific addresses. The Filtering and Ordering Layer plays a crucial role in ensuring the integrity and security of transactions and other communications within the Overledger protocol architecture.
Application Layer
The topmost layer of the Overledger protocol architecture is the Application Layer. It provides a primary interface for interacting with the Quant Network’s blockchains and decentralized applications (dApps). It establishes guidelines and protocols for communication between Overledger and dApps. This ensures that each dApp stays isolated from others within this layer.
To use Overledger, dApps must define two rulesets: mandatory rules and optional rules. These rules specify how the dApp can communicate with other programs and users. They also specify how it should interact with Overledger, the master himself (had to do it).
The Messaging Layer in Overledger enables applications to communicate with one another by transmitting messages. These messages are subsequently sorted and prioritized by the Filtering and Ordering Layer. Once the messages fulfill the filtering criteria of the recipient application, they transfer from the Filtering and Ordering Layer to the Application Layer for processing and execution. Thus, the Application Layer plays a critical role in overseeing and coordinating interactions between different dApps and blockchain networks within Quant.
What makes Quant unique?
Quant aims to address the problem of interoperability between different blockchain projects. Its Overledger operating system acts as a gateway. It enables any project to connect with other blockchains and applications within the same blockchain ecosystem, such as Ethereum. The goal of Quant and Overledger is to provide a seamless and unified interface for accessing and interacting with multiple blockchains and decentralized applications. If you’re having trouble puzzling it, just think of it all as a blockchain for blockchains.
Quant’s platform comprises various layers that bring interaction among decentralized applications and different blockchain networks. These layers encompass the messaging layer, transaction layer, filtering and ordering layer, and application layer. The Quant App Store is where developers can create and publish multi-chain applications (MApps) that can monitor and analyze transactions across multiple ledgers. By leveraging Overledger, developers can build smart contracts on diverse chains. Here it also includes those that actually do not natively support them like Bitcoin. Ultimately, Quant provides a range of tools and services that enable developers to create and deploy decentralized applications that can communicate with various blockchains in a seamless and integrated manner.
FAQ
Frequently asked questions about QNT.
Who Created Quant (QNT)?
In 2015, Gilbert Verdian founded Quant Network, which raised over $11 million in a successful ICO in April 2018. As the CEO of Quant, Verdian is the Chair of the UK Blockchain and Distributed Ledger Technology committee and a member of the EU’s Blockchain Observatory and the Federal Reserve. Later on, Colin Paterson and Paolo Tasca joined Quant as co-founders in 2017, serving as CTO and Chief Strategist, respectively. Tasca now serves as the Executive Director of the University College London (UCL) Centre for Blockchain Technologies and Co-Chair of the Hedera Treasury Management and Token Economics Committee, while Paterson is a cybersec expert with previous roles at Deutsche Bank and Vocalink, which Mastercard acquired in 2017.
How does Quant secure itself?
The Quant Network is supported by Overledger. It facilitates communication between different distributed ledger technology (DLT in short) networks and interacts with various blockchains. Overledger includes gateways that connect different blockchains. Just like Ethereum’s proof-of-stake protocol, the Quant Network community plays a role in managing treasury smart contracts. Specifically, the community is responsible for handling QNT payments that flow from users to gateways in a transparent and accountable manner.
Where do I buy QNT tokens?
Buying Quant tokens is done easiest via exchanges that have it listed among other digital assets: Kraken, Binance, and Coinbase. You can check the Quant trading volume to make sure it is the right currency and not some scam copycat. The volume should be in the multi millions. Quant price is determined by the market cap and circulating supply of the coin.