Quant is a next-generation protocol that promotes the widespread use of distributed ledger technology (DLT). The Quant network allows several types of DLTs to communicate with development tools for enterprise-grade applications. The native Quant token (QNT) is utilized to obtain access to Quant's Overledger DLT Gateway. Overledger is in charge of DLT interoperability and allows developers to create multi-DLT apps (mApps) using unique Multi-DLT Smart Contracts. Additionally, Quant provides a wide range of interesting and scalable enterprise and developer tools that can be used with some of the industry's top blockchains. Moreover, the Quant network is easily linked into existing IT frameworks, making enterprise decentralization more accessible than ever before!
The QNT crypto token grants users digital access to a specific app or service on the Quant blockchain. QNT coins are then charged access fees based on a fixed quantity of fiat currency.
In 2018, Gilbert Verdian, the current CEO, created Quant. The project was funded by an $11 million initial coin offering (ICO).
Prior to joining Quant Network, Verdian held the positions of chief information security officer (CISO) at Vocalink, a Mastercard card company, chief information officer at NSW Ambulance, CISO at eHealth NSW, and security lead at the UK Ministry of Justice.
Dr. Paolo Tasca, the second co-founder, is an entrepreneur and expert in distributed systems. Dr. Tasca has contributed specific advice on blockchain technologies to the UN, the EU Parliament, and a number of central banks throughout the world.
The Quant protocol arose from a strong desire to improve the efficiency of global information sharing. Verdian identified this issue while working for the governments of the United Kingdom and, later, Australia. He saw how beneficial distributed ledger technologies (DLT) may be in resolving the issues he was experiencing. The addition of overledger capabilities to the Quant protocol has enabled it to use Bitcoin, Ethereum, and Ripple ledgers. The Quant protocol gets the closest to resolving blockchain interoperability hurdles. It is utilized in an overledger operating system as a payment validator token.
Overledger is intended to be an enterprise-level solution that connects with a variety of DLTs used in corporate operations.
· Transaction Layer: This layer manages the ledger-based storing of transactions.
· Messaging Layer: This logical layer deals with all data obtained from the ledgers that are considered significant.
· Filtering and Ordering Layer: This layer also manages messages, especially those that are formed of transaction information and have been taken from them.
· Application Layer: Messages that are recognized as legit based on having the necessary format and signatures might update the status of the application that relates to them.
The use case of Quant tokens are:
· It is used as the medium of exchange for paying for the use of network resources including APIs, data, and connections across various enterprise blockchains and older systems.
· Gateway operators can use this QNT cryptocurrency asset to pay the annual licensing costs required to utilize and take part in the Overledger Network.
· Quant tokens are distributed by Quant's treasury system to gateway operators who operate as transactional traffic directors over the Overledger Network.
· Quant's use cases involve Multi Ledger Tokens (MLT) for Central Banks, banks, fintech, trading federations, closed-loop payments, marketplaces, and micropayment platforms.
· Implementing Central Bank Digital Currencies is one useful example (CBDCs). Quant's approach ensures that CBDCs are only needed once and can afterward be utilized on several blockchains.
DATE NEWS/EVENTS IMPACT 07/05/2022 TerraUSD and LUNA both collapsed, and as a result, a number of crypto platforms folded in the aftermath -23% Decrease 01/09/2021 The Quant network upgraded its protocol to Overledger 2.0.5 +90% Increase 23/06/2021 Coinbase lists the Quant protocol +40% Increase
The distributed ledgers that make up the foundation of blockchain technology are constantly evolving. These ledgers provide data storage for a network of distributed nodes. They are a digital breakthrough that some feel has the potential to suspend global financial transactions. However, in order for central banks and other major financial institutions to use blockchain technology widely, there are multiple barriers that must be resolved in order to combine legacy systems with new distributed ledgers. Individual blockchains are connected through Quant's Overledger operating system, and the advancement could indicate a change toward widespread adoption of blockchain. The future of QNT cryptocurrency is influenced by the decisions made by banks and financial organizations about the usage of blockchain technology as well as the legal and regulatory environment. If and when governments begin manufacturing digital fiat currencies that demand the integration of blockchains, Quant's role is expected to be important, with the crypto's value reflecting the facilitating technology.
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