What is the Quant Network (QNT)?
The Quant Network (QNT) is an Ethereum blockchain-based project that aims to address blockchain interoperability issues by using the Overledger DLT operating system. Gilbert Verdian established the Quant Network in 2015 to improve the effectiveness of information communication worldwide.
Quant’s Overledger DLT Gateway, also referred to as the Enterprise 5, supports multiple blockchains, including Bitcoin, Hyperledger Fabric, Ethereum, R3 Corda, and BNB Chain. This allows for the creation of multi-chain applications, known as mApps that can leverage the unique features of each blockchain.
Key Takeaways
- It allows multi-chain applications to be created that can leverage data and tools from multiple blockchains.
- The QNT token has a $1.6 billion market capitalization.
- The Ethereum-based Quant Network is a distributed ledger technology (DLT) service provider that offers interoperability between several blockchains.
What Is The History of Quant Network?
Led by Gilbert Verdian, Quant’s journey began with a vision to unlock the true potential of blockchain technology by enabling a cohesive ecosystem of interconnected networks.
In 2018, Quant launched its Overledger platform, a revolutionary middleware solution that acts as a universal translator for blockchains. Overledger seamlessly integrates with various protocols, including Hyperledger Fabric, Ethereum, and Quorum, enabling these distinct blockchains to interact and share data securely1.
The native token of Quant Network is QNT, which serves as the fuel and governance asset of the Quant ecosystem. QNT tokens are used to pay for the use of Overledger’s network resources, including APIs, data, and connections between various blockchains and legacy systems.
Quant Network’s Initial Coin Offering (ICO) took place in 2018, raising $150 million2. The ICO was met with strong interest from institutional investors and individuals alike, demonstrating the strong belief in Quant’s vision of a unified blockchain ecosystem.
How Does The Quant Network Operate?
The Quant Network is focused on solving blockchain interoperability issues by using Overledger, an API gateway3 that supports several distributed ledgers. The Overledger operating system allows programmers to develop mApps4 that support widely-used blockchains. The Quant Network is able to do this thanks to the Overledger protocol architecture’s four separate layers.
| Layer | Description |
|---|---|
| Transaction Layer | Stores verified transactions from various blockchains, streamlining consensus mechanisms across different domains. |
| Messaging Layer | Shared channel for recording transactions from all ledgers. Wraps transaction information, allowing for combined storage of transactions from different ledgers. |
| Filtering and Ordering Layer | Filters and orders messages referred to in the digest of out-of-chain messages from the Messaging Layer. Ensures messages align with application requirements and schema. |
| Application Layer | Establishes guidelines and methods for interacting with blockchains, overseeing all lower layers. Separates multichain applications from each other. |
What Are The Most Important Features of Quant Network?
The Quant Network is a distributed ledger technology (DLT) service provider that offers interoperability between several blockchains. The Quant protocol has several key features that give it value and drive demand for the QNT token.
- The Quant Network’s Overledger Network offers interoperability through Overledger DLT gateways using tools such as a representational state transfer application programming interface (REST API) to connect several commercial, private, and public distributed ledger technologies.
- Quant’s Overledger DLT Gateway enables communication between several blockchains without engaging with ledgers on an application level. In addition, it offers future-proof scalability without forking or consensus needs.
- Quant’s protocol supports mDApps, which combine several blockchain features into a single application.
- Quant’s multi-DLT smart contracts facilitate complicated processes like cross-chain atomic swaps between various blockchains5. A cross-chain atomic swap is the exchange of cryptocurrencies, such as exchanging Bitcoin (BTC) for Ether (ETH) across distinct blockchains.
What Are Tokenomics and Use Case Of QNT?
The QNT token is the native cryptocurrency of Quant Network, a leading provider of blockchain interoperability solutions. It serves as the fuel and governance asset of the Quant ecosystem, enabling seamless communication and data exchange between various blockchains and legacy systems.
QNT Tokenomics Information based on CoinGecko6.
- Type: ERC-20 token (with the ability to seamlessly transition to other blockchains)
- Total Supply: 14.6 million QNT tokens
- Circulating Supply: Around 14.5 million QNT
- Blockchain: Ethereum
Key Roles of QNT Tokens
- Network Access: QNT tokens are required to access Overledger, Quant Network’s blockchain interoperability platform. This includes paying for API usage, data access, and connections between blockchains and legacy systems.
- Gateway Operator Eligibility: Individuals or institutions who want to operate gateways that facilitate the onboarding of new blockchains onto the Overledger network need to hold a sufficient amount of QNT tokens.
- Governance Participation: QNT token holders participate in the governance process of the Quant Network, voting on proposals related to platform development, tokenomics, and network-wide decision-making.
| Benefit | Description |
|---|---|
| Access to a Robust Interoperable Ecosystem | QNT tokens provide access to Overledger, enabling seamless integration with a wide range of blockchains, including Hyperledger Fabric, Ethereum, and Quorum. |
| Potential for Price Appreciation | As Quant Network expands its adoption and partnerships, the demand for QNT tokens is expected to rise, potentially leading to increased value for token holders. |
| Participation in Decentralized Governance | QNT token holders can actively participate in shaping the future of the Quant Network through governance votes. |
| Potential for Diversification in Crypto Portfolio | QNT tokens can serve as a diversification asset in cryptocurrency portfolios, offering exposure to the growth of blockchain interoperability. |
How Has QNT Traded In 2023, And What Are The QNT Price Predictions?
QNT has traded relatively flat this year with a modest 7% year-to-date gain, according to data from TradingView7. Quant Network has failed to keep up with the rest of the crypto market, which has experienced a massive surge in valuation since the end of 2022. As of writing, QNT is trading hands at $112, which is around 73% below its all-time high of $427.
Coincodex8 has offered a very mixed forecast for 2024, with a minimum price target of $94 and a maximum of $606. Their forecasts become a little more consistent in the long-term with $178-348 target in 2026 and a $311-569 target by the end of the decade.
Cryptopolitan9 is very bullish on QNT. They expect it to rally to $200 before the end of 2023 and then push above $700 next year and potentially even reach $1k before the end of the decade. This price prediction would require a massive surge in QNT demand.
Remember that crypto prices are extremely volatile, and you should always do your own research before risking your capital.
Final Thoughts on Quant Network (QNT)
Quant Network is an ambitious project that straddles the traditional world of finance and blockchain. It offers a multitude of use cases to enterprises and institutions, including stable coin payments, supply chain management, and CBDC infrastructure by offering multi-chain solutions primarily in the form of mDapps. The project’s native token has struggled in 2023, but its market capitalization is still well above $1.5 billion, making it a top 50 crypto.
Frequently Asked Questions
What Is Quant Network?
Quant Network is a pioneer in blockchain interoperability, providing a middleware solution called Overledger that enables seamless communication and data exchange between diverse blockchains and legacy systems. Its native QNT token acts as the fuel and governance asset of the Quant ecosystem, facilitating network access, gateway operations, and decentralized governance.
Where Can You Buy QNT?
Quant Network (QNT) is a large-cap token, which means it can be traded on most leading exchanges, such as Binance and Coinbase.
What are the primary functions of Overledger in Quant Network?
Overledger is the primary technology of Quant Network. It is a blockchain operating system that allows users to build decentralized multi-chain applications (mApps) and connect to different distributed ledger technologies (DLTs) without additional infrastructure. Overledger aims to solve interoperability issues by providing a simple, secure solution to connect different networks.
Who are the founders or key figures of Quant Network?
Quant Network was founded by Gilbert Verdian, an experienced cybersecurity expert who previously worked in the UK government. The team includes several other key figures, such as Colin Paterson-Jones, Paolo Tasca, and Paolo Senatore.
WRITTEN
Peter Barker
Peter is an experienced crypto content writer and a DeFi enthusiast with more than 3+ years of experience in the space. Previously a journalist and news editor at a leading European news sourcing agency.
