Quant is an innovative plug-and-play solution that enables the connection of various blockchains and enterprise software without the need for new infrastructure. Thanks to distributed ledger technology (DLT) and application interfaces (API) on the Overledger API gateway, different blockchains can easily communicate with each other.
What is Overledger?
Overledger is an enterprise solution that integrates various DLTs into business operations, such as supply chain management. With the Overledger API, these DLTs can communicate with each other, eliminating issues of discontinuity between them.
Overledger and mApps
The Quant network consists of the Overledger operating system and the Overledger Network. The Overledger OS allows users to create and access multi-chain applications (mApps) that rely on contract agreements instead of smart contracts. The features of a given mApp reflect the blockchains it is built upon, not the Overledger OS. The Overledger Network comprises developers and enterprises utilizing the Quant network, and users can sell their created mApps and data on the Overledger Network Marketplace.
Multi-ledger Tokens
Quant also supports multi-ledger tokens (MLT), digital assets backed by fiat funds held in escrow at a financial institution. These MLTs serve central banks, banks, fintechs, closed payment systems, marketplaces, and micro-payment platforms. MLTs can be used as stablecoins, vouchers, loyalty points, and as eMoney for fast and transparent cross-border banking payments.
Pros and Cons of Quant (QNT)
Like other cryptocurrencies, Quant has unique features that make it an attractive investment - but investors should also consider its potential drawbacks.
Pros
Since it is built from the ground up, Quant does not experience some of the limitations that come with many DLTs. It can be installed seamlessly without prior knowledge of cryptography or programming. Additionally, Quant cannot be forked and has an extremely low chance of a network security breach. However, compared to pioneers like Ethereum, Quant is still relatively small, and its capacity has not yet been fully tested. Quant cannot be forked like other cryptocurrencies or lose communication with its multiple ledgers, so the chances of a network security breach are extremely low.
Cons
Compared to pioneers like Ethereum, Quant is still relatively small. There are only 14.6 million Quant cryptocurrency, with approximately 12.1 million in circulation as of March 8, 2022. And while it envisions solving the global interoperability problem, this capacity has not yet been fully tested. That day may come when governments start issuing digital fiat currencies - like digital dollars, euros, and yen. As this happens and seamless communication between blockchains becomes a bigger issue, it will be interesting to see if Quant's solutions become widely adopted.
Who Created Quant (QNT)?
Quant was founded by Gilbert Verdian, the current CEO, in 2018. The project was funded through an initial coin offering (ICO) that raised $11 million. Verdian is a 20-year veteran of the security industry and was also the founder of the ISO standard for blockchain TC307. Jean-Paul de Jong is Quant's chief architect, and Colin Paterson is the chief technology officer. Verdian was inspired by his time in the Australian and British governments, which allowed him to see the upcoming challenges of interoperability and begin devising solutions.