Quant is designed to facilitate the transition of transactions between blockchains and the development of decentralized applications. It is the developer of the Overledger operating system, created to increase the flexibility of the connection between chains. The native cryptocurrency of the Quant project is QNT. In this article, we will look for answers to questions such as what is Quant (QNT), what does Quant (QNT) do, what are the advantages of Quant (QNT).
What is Quant (QNT)? What Does It Do?
Blockchain technology has been used for a long time in different sectors for different purposes. Although this technology is being used for different purposes, it has not been solved for blockchains to work seamlessly together. At this point, Quant is trying to solve the problems between blockchains and other networks with Overledger, known as the world’s first blockchain operating system.
Quant was developed to connect blockchains and networks globally. The beauty of his goal is that he can do this without reducing the efficiency and interoperability of the network. If Quant is mentioned, it is inevitable to mention Overledger. It is the Quant project that spawned Overledger. Overledger is designed as a technology that facilitates the transfer of data and value between different blockchains. Quant’s operating system bridges distributed ledgers, blockchains, systems and networks. By enabling different blockchains and networks to communicate seamlessly with each other, it increases the possibilities for data sharing and collaboration. Overledger also facilitates the creation of decentralized applications (dApps) on the blockchain. Quant is known as the first project to solve the interoperability problem through the creation of a blockchain operating system.
Users who want to benefit from Quant’s products make payments in fiat currencies. Each of the received payments is locked in the system for a certain period of time, and when the time is up, the developers on the Quant side convert the payment directly into QNT. In addition, developers who want to join Quant and use the Overledger operating system must lock a specified amount of QNT in the system instantly.
What Advantages Does Quant (QNT) Offer?
The advantages Quant offers to contribute to the wider application of blockchain technology and the development of digital asset ecosystems are as follows.
Blockchain Interaction:
One of the key advantages of Quant is the seamless interaction between different blockchains. Overledger technology makes it easier for different blockchains to communicate with each other and transfer data/value. In this way, a more comprehensive and connected blockchain ecosystem can be created by leveraging the strengths of different blockchains.
Digital Asset and Data Sharing:
Quant facilitates the sharing of digital assets and data across different organizations and networks. Secure and efficient data sharing accelerates collaboration and transaction processes while protecting data ownership and security.
Interoperability:
While Overledger can transfer data and value between blockchains, it increases the ‘interoperability’ capability by enabling different protocols to work harmoniously between different blockchains. This allows blockchains to integrate with each other and operate efficiently.
Secure Transactions:
Overledger enforces security protocols while monitoring data and asset transfers. This helps to make transactions more secure and increase trust on the user side.
High Scalability:
Quant is designed to provide high scalability and processing speed. This way, it can handle more users and transaction volumes.
Low Cost:
Overledger enables transactions across multiple blockchains, reducing the need for traditional intermediaries and middle men. This reduces transaction costs and enables more efficient value transfer.
Private Company and Public Harmony:
Overledger allows both private companies to use their own blockchains and to integrate with public blockchains. This flexibility provides solutions to suit the needs of different organizations.
DeFi and IoT Integration:
The Quant project is compatible with DeFi (Decentralized Finance) and IoT (Internet of Things) devices. This can automate financial transactions and support secure data exchange between smart devices.
Deployment and Application Development:
Overledger offers developers an open infrastructure and easy-to-use tools. This facilitates the rapid deployment of applications and services and the discovery of new use cases.
Sector Diversity:
The Quant project can be used in many areas, from the financial sector to healthcare, supply chain and public sector. Cross-blockchain communication and data sharing can contribute to the more efficient operation of various sectors.
How does Quant (QNT) work?
The Quant protocol is designed to remove barriers commonly encountered in blockchains in communication, interoperability and scaling. To achieve this, the different layers of the network are matched to the tasks for which they are best suited, as follows.
Transaction Layer:
Storing transactions in this layer is very important. Both diverse and isolated ledgers are used to place related transactions on a single layer and validate them throughout the blockchain. Once a transaction is confirmed, it cannot be overridden under any circumstances. Everything needed for consensus between blockchains happens at this layer.
Messaging Layer:
This layer deals with information and data transfer. Three types of data can be processed: smart contract data, metadata and transaction data. Metadata is used to interpret messages and translate them into different languages for different blockchains to understand.
Filtering and Sorting Layer:
This layer also processes messages. However, unlike the messaging layer, it filters calls based on specific results. Each message in the digital ledger system is placed on a first-come, first-served basis and neatly stored in a database. When an off-chain message needs to be authenticated, the filtering and sorting layer is responsible for verification as it is the only layer with a history of messages transmitted throughout the protocol.
Application Layer:
This last layer controls all other layers by creating the communication rules that all blockchains must follow.
Through these four layers, developers can easily set up tasks found after developing a decentralized application (dApp), such as allowing an application to transfer tokens to a specific network.
When it comes to Quant, we should also look at what an Overledger is.
What is an Overledger?
Overledger allows developers to builddecentralized multi-chain applications (mApp) for their customers. As such, Overledger represents the core around which a future digital economy ecosystem should be built.
Overledger allows the use case to be distributed across multiple chains, publishing chain-independent digital assets, connecting them to other networks and enabling rapid development of multi-chain applications without compromising security.
Designed specifically for businesses looking for an easy, reliable and future-ready way to enter the blockchain world, Overledger can tokenize funds and alternative assets, realize tokenized deposits, issue next-generation payment instruments, create multiple DLT applications and connect to multiple enterprise systems.
Who are the Founders of Quant (QNT)?
Quant was founded in 2015 by Gilbert Verdian and Paolo Tasca. Quant, whose ICO was realized in May 2018, was launched in June 2018.
Gilbert Verdian is the founder and CEO of the Quant project. Gilbert Verdian holds a Bachelor’s degree in Business Administration from the University of Technology Sydney and a Master’s degree in Business Administration and Strategic Management from the same university. He has more than 20 years of industry experience in distributed ledger technologies and network security. Gilbert Verdian, who has gained countless experience in network security at globally recognized companies such as PwC, BP, HSBC, was Chief Information Security Officer at Mastercard before launching Quant.
Paolo Tasca is a co-founder of the Quant project and at one time served as advisor and chief strategist. Paolo Tasca holds a master’s degree in politics and economics from the University of Padua and another master’s degree in economics and finance from the University of Venice Ca’ Foscari. He then received his doctorate in business administration from the Swiss Federal Institute of Technology. Paolo Tasca is a digital economist and entrepreneur with expertise in distributed systems and blockchain technologies, having advised the EU Parliament, the United Nations and central banks. Paolo Tasca’s career has also included academic work, including co-founding Ecurex, an authorized marketplace for real-time trading of digital assets, and founder of the P2P Financial Systems International Workshop, the premier event bringing together industry leaders, regulators and academics interested in P2P financial systems, founder of the CL Center for Blockchain Technologies, which works to promote the adoption of Distributed Ledger Technologies in socio-economic systems, and co-founder of the DLT Science Foundation, which enables the growth of distributed ledger technology in business and society by strengthening education, innovation and research. Apart from all these, it is also seen that he is the Co-Chair of the Treasury Management and Token Economy Committee at Hedera, another blockchain project.
What Other Things to Know About Quant (QNT)?
To find out a little more about Quant (QNT), it is useful to look at the answers to some of the following questions.
Is QNT a token? Or is it a coin?
Coin is a cryptocurrency created on its own blockchain. A token is a cryptocurrency that does not have its own blockchain and is created on an existing blockchain. QNT is a token because it does not have its own blockchain.
Which blockchain is the QNT token on?
The QNT token is on the Ethereum blockchain and is based on the ERC-20 standard.
Is QNT token mining done?
QNT is not mined.
How to buy QNT tokens?
To buy QNT tokens, it is sufficient to create a membership on ICRYPEX. Once the membership process is complete, it is fast, easy and secure to trade other cryptocurrencies including QNT token.
How to Become a Member of ICRYPEX?
After visiting www.icrypex.com from a browser, you can click on the “SUBSCRIBE” button at the top right of the page, fill in the required information and you can easily create your membership.
From mobile devices, primarily;
Android users can download our app by clicking here, Apple users by clicking here and HUAWEI users by clicking here. After logging in to the application, you can click on the menu icon at the top left, then click on “SUBSCRIBE” to fill in the required information and easily create your membership.
