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The Quant Network’s founders are Gilbert Verdian, Colin Paterson and Paolo Tasca. Verdian is an early blockchain pioneer with a wealth of experience in the technology and security sectors. Prior to his role as Quant’s CEO, he held several managing and C-level roles at prominent firms, including PricewaterhouseCoopers, BP, and Vocalink (a Mastercard firm). He also founded the Blockchain ISO Standard TC307, which is currently being implemented in over 50 countries.<\/p>\n
Paterson and Tasca are similarly distinguished in the blockchain and online technology spaces but are no longer with the company.<\/p>\n
How Does Quant Work?<\/strong><\/h2>\nUsing a technology known as the Overledger DLT gateway, Quant is able to seamlessly connect different decentralized networks, regardless of which specific distributed ledger technology they use (e.g. blockchain, DAG, or another protocol).<\/p>\n
Quant’s main product is its Overledger Enterprise platform, which it has billed as the first DLT gateway for business. It’s used as a simple API gateway to various distributed ledgers, allowing companies to easily connect their pre-existing infrastructure to the blockchain. The platform provides an easy-to-use REST API that provides a standardized way to interface with a wide variety of blockchains.<\/p>\n
The technology allows businesses to create what Quant describes as \u201cmulti-DLT smart contracts,\u201d or MAPPs. These are essentially
\u00a0<\/span>smart contracts\u00a0<\/span>that exist across multiple distributed ledgers, thereby allowing decentralized applications (DApps) to leverage the data and capabilities of multiple platforms to provide functionality that was not possible before.<\/div>\nQuant also supports so-called multi-ledger tokens (MLTs), which are digital assets backed by real funds held in
\u00a0<\/span>escrow\u00a0<\/span>with a financial institution. These MLTs can be used to represent\u00a0<\/span>stablecoins, vouchers, loyalty points,\u00a0<\/span>central bank digital currencies, and more. They can be issued and used across multiple distributed ledgers thanks to Quant’s Overledger technology.<\/div>\n<\/div>\n
As of June 2021, Quant is operating on version 1.5 of its mainnet, and Overledger 2.0 is now operational. The platform doesn’t have a fixed roadmap but the team behind the platform is at present largely focused on onboarding developers, blockchains and applications to the Overledger network.<\/p>\n<\/div>\n[\/et_pb_text][et_pb_text _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”]\n
What is the Quant Token?<\/strong><\/h2>\nLike most blockchain-powered platforms, Quant features its own native utility token, known simply as
\u00a0<\/span>Quant\u00a0<\/span>(QNT). As a utility token, it is designed to have several functions within the Quant ecosystem.\u00a0<\/div>\nFor one, developers and enterprises need to purchase licenses to use the platform. This is paid to the Quant treasury in fiat currency and is then used to purchase QNT tokens, which are then locked for 12 months in layer 2 payment channels. Users also need to pay an annual fee in QNT tokens for running a gateway. In return, they receive a cut of the transaction fees going through their setup.<\/p>\n[\/et_pb_text][et_pb_text _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content”]\n
What Makes Quant Unique?<\/strong><\/h2>\nQuant aims to help enterprises to streamline their workflows and improve efficiency through the integration of blockchain technology. The platform incorporates a number of unique features that help distinguish it from the competition out there. While blockchain and distributed ledger technologies manage to find an increasing number of use cases, they still lack seamless interoperability, both among the internal ledgers and external networks. Quant is supposed to bridge this gap as a blockchain\u2019s \u201cmissing link\u201d. Overledger is supposed to provide any network used for a particular purpose with a gateway to all other blockchains, not unlike a \u201cmagic\u201d portal with a functional interface. The same goes for supporting communication between every application within the ecosystem with the desired blockchain. At the same time, interoperability is not limited to transferring value between blockchains as it also covers the exchange of messages and data by adding a hash of a message to the metadata of any transaction. Without being forced to add another blockchain, the users can rely on the trust and security of the source chain.<\/p>\n
Quant is Blockchain-Agnostic<\/strong><\/h2>\nQuant is designed to provide an interoperability solution that works with any existing distributed ledger, regardless of its architecture and individual properties. Likewise, Quant’s Overledger DLT Gateway can be easily integrated into legacy financial infrastructure, allowing developers to easily leverage the capabilities of different blockchains using a REST API.<\/p>\n
Unlike some existing
\u00a0<\/span>layer 2\u00a0<\/span>solutions, Quant\u2019s Overledger platform doesn\u2019t require any modifications to the base chain in order to integrate it, making it completely plug and play.<\/div>\n[\/et_pb_text][et_pb_text _builder_version=”4.23.1″ _module_preset=”default” locked=”off” global_colors_info=”{}” theme_builder_area=”post_content”]\nQuant development updates in 2023<\/h2>\n
Quant (QNT) has made significant strides in 2023, marking notable developments in the blockchain industry. Here\u2019s an overview of the most important updates for Quant:<\/p>\n
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Enhanced Interoperability<\/strong>: A key achievement for Quant in 2023 has been the enhancement of interoperability among various blockchain systems. This was facilitated by the Overledger API, allowing different blockchains to connect seamlessly and enabling the creation of multi-DLT smart contracts and mDApps that operate across multiple blockchains, a feature that was previously unavailable.<\/p>\n<\/li>\n- \n
Overledger 2.0.5 Release<\/strong>: Another major milestone was the release of Overledger 2.0.5. This update brought significant improvements by bridging Stablecoin, NFT, and DeFi ecosystems with blockchain payments. It supports over 25 digital assets for ERC20 token production and various assets for ERC20 Sandbox and ERC721 production, along with introducing the Overledger Payment API for transactions and settlements between digital asset types.<\/p>\n<\/li>\n- \n