Quant has set out to solve the problem of interoperability between blockchains. The Overledger technology that was developed for this purpose enables direct interaction between different networks and thus also the creation of applications with multiple blockchains, so-called multi-chain apps (mApps). Quant Network's native token, QNT, is now available on SMART VALOR.
The goal of Quant Network, a company based in London, is ambitious: They want to eliminate the complexity of blockchain technology. By addressing the two biggest challenges: Improving usability and finding a solution to blockchain's lack of interoperability.
The idea came from CEO Gilbert Verdian, who gained extensive experience in high-profile companies before founding Quant, especially in the field of digital security. He was also part of the Secure Payments Taskforce of the US Federal Reserve and the EU Blockchain Observatory & Forum. So behind the ambitious project, in which many experts see great potential, is a very accomplished CEO.
Verdian assumed that there will not be the one cryptocurrency that will prevail and also not the one blockchain for all use cases. But blockchain and DLT (distributed ledger technologies) are groundbreaking and of fundamental importance to society, Verdian said. The vision of the Quant founders is a logical consequence of these basic ideas: to make blockchains interoperable and to simplify the use of the technology.
The mission: universal interoperability
In 2015, when the idea for Quant was born, several companies had already started working with blockchains. As these companies grew, so did their requirements and many of them encountered obstacles in blockchain technology. However, building a new blockchain that meets the respective requirements costs a lot of time and money. So a technology had to be developed that automatically assigns each application to the most suitable blockchain. For this, the Quant founders had both private and public institutions in mind.
In 2018, the Quant Network was officially launched. To solve the problem of lack of interoperability, Quant developed the blockchain operating system Overledger. It allows blockchain projects to access other blockchains. In addition, different applications within a blockchain ecosystem can be connected on the Overledger platform. For example, data from one application can be easily transferred to another.
Overledger thus creates a seamless connection between networks, protocols and blockchains. This enables developers to create so-called multi-chain apps (mApps), among other things. While decentralised apps (dApps) each run on a single blockchain and a single protocol, mApps allow smart contracts to be created on many different blockchains. This gives developers the opportunity to take advantage of multiple networks instead of creating applications with only one blockchain.
Future-proof solutions for businesses
Companies can easily connect their existing infrastructure with new decentralised networks on the Overledger platform. The creators of Quant see great potential in new models for trade finance and supply chains, the tokenisation of assets and in the financial sector in general. For this purpose, an easy-to-use API is used that represents a standardised interface to a large number of blockchains.
In the larger context, it is about making the systems that connect countries and trade zones worldwide fit for the future. Data flows between regions and states will increasingly be digitised on distributed ledgers. These DLTs must be interconnected for it all to work. Quant wants to create the basis for the hyper-networked world we live in by connecting the many networks with each other.
The Quant token (QNT)
The Quant Network has its own cryptocurrency: Quant (QNT). The Ethereum-based utility token is used for transactions on the Overledger platform and serves as an incentive for developers and node operators.
QNT to USD Chart, Jan 2021 to Feb 2023. Source: CoinMarketCap
QNT had already seen notable price increases since its launch in 2018. With a market capitalisation of almost €1.7 billion, QNT currently ranks 39th among all cryptocurrencies. It had its all-time high of $428.38 on 11 September 2021. Currently, the token costs around $139 (as of 17 February 2023).
You can trade QNT on the SMART VALOR platform with Bitcoin (BTC), Ethereum (ETH), Tether (USDT) as well as with the five fiat currencies: EUR, CHF, GBP, USD and SEK.
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