What is Quant (QNT)?

Luis Clark
Luis Clark
Luis is a personal finance expert who has been passionate and writing about crypto for more than five years.
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      What Is Quant (QNT)?

      Quant is a decentralized blockchain operating system that connects multiple blockchains and networks on a global scale while maintaining efficiency and seamless interoperability.

      The Quant system connects to various blockchains via the integration with the Overledger network. This Overledger network bridges all existing gaps between different blockchains and seamlessly connects distributed ledgers. The developers of Quant Network view the platform as ideal for the development of the future digital economy ecosystem.

      Furthermore, the platform allows developers worldwide to create a variety of blockchain applications. However, to build applications on the Quant platform, developers require QNT tokens.

      QNT is the Quant system’s native token, an Ethereum-based token (ERC-20) hosted on the Ethereum blockchain. The token is used to power and process Quant’s Overledger operating system, which connects both public and private blockchains.

      Founders of Quant (QNT)

      Gilbert Verdian and Dr. Paolo Tasca founded the Quant platform, but it was Verdian who had the idea for the project while working in the healthcare sector. Verdian pioneered the use of interoperability in his industry to track every recovery patient registered on multiple platforms.

      what is qnt

      Before launching Quant, Verdian was employed as the Chief Information Security Officer at Vocalink, a MasterCard subsidiary. He also worked as the head of security and Chief information officer for the United Kingdom’s Ministry of Justice and NSW Ambulance Service. Quant was created as a means to address the issues of information flow from legacy systems.

      Dr. Paolo Tasca, a skilled entrepreneur, digital economist, and blockchain expert, oversaw the other half of Quant’s development.

      How Does QNT Work?

      how quant works

      The Quant system was designed to allow for smooth interactions, interoperability, and scaling among blockchains. Quant employs an Overledger to accomplish this.

      Quant’s Overledger integration enables simple blockchain communication and support for Multi-chain apps (MApps) and decentralized applications (DApps) that operate on multiple ledgers. Overledger’s distinctive architecture facilitates interoperability and scaling. It has four distinct layers that are matched to the tasks:

      Transaction Layer

      The transaction layer stores transactions in the network. The transaction is split into varied and isolated ledgers. Both ledgers are then used to fix common transactions in one layer and then verify them across the chain. Once the transaction has been verified, it cannot be proven to be fraudulent. This layer also houses all of the operations processes required to reach a specific consensus in various blockchain domains.

      Messaging Layer

      The Messaging layer retrieves all pertinent data from the ledgers. Some of which include metadata, transaction, and smart contracts. The Metadata is used to translate messages into different languages so that multiple blockchains can effectively understand them. Furthermore, the Messaging layer can be used to store all transactional data and integrate communication between several applications.

      Filtering and Ordering Layer

      The filtering and ordering layer handles incoming and outgoing messages, especially those containing transaction information. The layer segments search into results, as opposed to the Messaging layer. When off-chain message validation is required, the filtering and ordering layer validates messages automatically because it is the only layer with a history of messages transferred throughout the protocol. Furthermore, platform developers can assign tasks, such as allowing an application to transfer tokens to a specific network once they are deposited on the decentralized application.

      Application Layer

      The Application layer is the final layer in the Overledger architecture. All information with the necessary format and signatures can be used to seamlessly update the state of applications that are important to them. Several applications can also share identical messages and make references to messages shared by other applications.

      Key Features of Quant

      key features quant qnt

      Quant, as an Ethereum-based project, relies on the interoperability and security of the Ethereum ecosystem to operate. Unlike other chains, like the Bitcoin blockchain, which focuses on creating a method to transfer payment and value, Ethereum is broader regarding the utilities that Quant can leverage. Quant provides services such as Decentralized Finance (DeFi), Blockchain games, and Decentralized Exchange (DEX) for the crypto market.

      Here are some important features that make Quant useful:

      Overledger Network Integration

      The Quant ecosystem addresses the issue of interoperability that plagues most blockchain protocols. Through its Overledger DLT gateway integration, the platform connects distributed ledger technologies (DLTs), thereby making the interoperable and information flow instantaneous. When users connect to the protocol, data can be seamlessly exchanged between two blockchains within the system.

      Quant mDApps

      Another notable feature of the Quant system is multi-DLT applications (mDApps). While decentralized applications (DApps) are deployed on blockchains, mDApps allow different DApps to operate on as many blockchains as possible. Developers can use mDApps to gain unrestricted access to multiple blockchains, enjoy consensus from one chain, and acquire relevant data from another.

      Quant Versatility

      Quant QNT is one of many crypto projects addressing issues beyond blockchain systems. The project’s versatility is a major plus for the network because it is not limited to blockchain networks and can be applied to various business models. As a result, the platform and Quant token have widespread adoption by various industries, including financial institutions, technology sectors, and others.

      Quant App

      Based on the Quant protocol’s unique architecture, developers can easily create decentralized multi-chain applications that are available on the Quant App Store, which is one of several revenue streams within the network’s ecosystem.

      Weakness of QNT

      Both Quant and its tokens provide many benefits for the cryptocurrency project, as well as some limitations. This section will go over a couple of the shortfalls.

      Weak Token Adoption

      Although the Quant Protocol appears to be stable in terms of growth and near-term strategies, it is still relatively slow in token adoption. Quant tokens have not enjoyed the same rate of adoption as crypto top dogs like Bitcoin and Ethereum. This slow adoption has partly impacted its growth in the hyper-competitive crypto space.

      Quant Is Volatile

      The Quant coin is a crypto-based project, which is why it is still a risky asset to invest in. The crypto asset has seen a rollercoaster of events in the past year as it surged to $337 on September 23, 2021. The digital asset trades slightly above $100 due to the current market downtrend. Cryptocurrencies are quite volatile, and investors should take proper risk management measures to protect their funds.

      How Is QNT Created

      how quant is made
      According to Quant’s whitepaper, Quant tokens were distributed through a token generation event (TGE), which is also known as a crowd sale. The current circulating supply of QNT is slightly more than 12 million. However, the company holds 2 million more coins in its treasury. Quant did not create additional QNT coins after the crowd sale event (which ended on April 30th, 2018). With a market cap of $1.2 billion, Quant is a company for the future.

      Which Blockchain Does QNT Use?

      QNT, Quant’s native currency, uses the Ethereum blockchain. The token is an Ethereum token (ERC-20) that powers Quant’s Overledger enterprise software solution, which acts as a bridge between blockchains and private networks. The Ethereum blockchain was chosen because of its extensive integrations with wallets and exchanges. As an Ethereum-based platform, Quant enables the creation of smart contracts and Multi-DLT applications (mDApps), allowing DApps to run on multiple blockchains simultaneously.

      How to Use QNT

      QNT can be used for the following functions:

      Transaction fee: QNT can also be used to provide digital access to Quant ecosystem-created and deployed services or decentralized applications. The platform provides this access to users and developers. There is an access fee based on a fixed amount of fiat currency. For example, if the consumption fees for both developers and enterprises are set at $10 per month, payments to the Quant Treasury will be based on the equivalent price in QNT tokens.

      Staking: A number of exchanges offer staking rewards for investors who secure the network. QNT staked come with a particular annual percentage yield (APY) based on the platform they choose to lock up their tokens.

      How to Buy QNT

      how to buy qnt binance

      Quant’s unique application as an operating system provides large-scale interoperability and scalability. This enables developers to leverage the ecosystem and build additional applications. As a result, the rate of Quant adoption has grown exponentially across a wide range of global cryptocurrency exchanges. The steps below will help investors to buy QNT in under 10 minutes. Our top exchange of choice is Binance Global, the world’s largest crypto exchange by trading volume.

      Create an Account

      Navigate to the Binance website and click on the ‘Register Now’ button to open the signup page. Fill in an email address, select a strong password, and insert mobile number. Click on ‘Create Account’ and verify both email and mobile numbers in the following steps.

      Verify ID

      Binance is a globally regulated exchange and requires new users to undergo a compulsory know-your-customer (KYC) process. To verify details, tap on the ‘User/Identification’ tab and click on ‘Start Now’ to commence the verification process. Investors will need to upload a recent copy of their driver’s license or government-issued ID card. Also, new users would need to complete a face verification exercise.

      Deposit Funds

      Funding an account on Binance can be completed using several payment methods. The options include bank wire transfer, credit/debit cards, peer-to-peer (P2P), PayPal, e-wallet solutions, and crypto deposits. Click on the ‘Buy’ button and select ‘Buy with Fiat.’ Select a fiat currency and choose any of the highlighted payment methods. Then follow the onscreen prompts to fund the new account.

      Trade QNT

      Once the deposit is complete, type ‘QNT’ into the search bar and click on the relevant result. Select a trading pair and tap ‘Buy.’

      How to Store QNT

      Quant QNT is a virtual asset that cannot be physically handled. To store the QNT token, users need to select their preferred storage choice. Cryptocurrency wallets are used for the sole purpose of safekeeping users’ crypto holdings. However, several options are available for investors to choose from.

      For instance, due to their offline nature, hardware wallets like Ledger and Trezor are popular choices for storing digital assets. Hardware wallets can be physically-handled. They allow users to retain full control of their assets as they can easily disconnect their wallets from the internet and keep them in a safe place. Investors with large crypto holdings generally favor hardware wallets, but they often cost anywhere between $200 and $500.

      Another option for investors to use is a software wallet. This wallet type is quite popular with regular investors due to the convenience they offer. They come in the form of mobile and web apps, and investors can easily use them to execute trades on a daily basis. Software wallets are always online, and this makes them susceptible to security hacks. However, they are free.

      The last wallet option is the paper wallet. A paper wallet is a piece of A4 paper with a user’s wallet address printed on them. A few come with QR codes that can be scanned to process transactions. Paper wallets are quite safe from security breaches. However, they can easily be destroyed by fire and water or misplaced.

      Best Place to Stake QNT

      Staking is arguably the best way to keep crypto assets safe for a long time while earning some profits in the form of interest generated over time. Investors who don’t want to sell Quant can stake their coins in exchange for rewards. Traders can stake QNT crypto to profit as the price rises. It gets even better because this can now be carried out on the Quant network. For example, Overledger Gateway operators can stake QNT on the platform’s treasure to generate passive income on their Quant crypto.

      Traders can also choose exchanges that support QNT stakings, such as Binance and Coinbase.

      What You Need to Know About the Future of QNT

      According to the Quant website, one of the reasons Quant has remained one of the best crypto-based projects for informed blockchain enthusiasts is that it is constantly improving its services and offerings. The network has provided several services to financial institutions, such as banks, investment firms, and businesses, and is constantly adding new services for all users. For instance, the project has partnered with Fast Company, a business magazine, to foster fast digital currency adoption.  We believe that the Quant project will continue to grow and improve in the future because it aims to achieve three major goals: creating value, lowering costs, and mitigating risks.

      Quant has created real-utility smart contracts and collaborated with some big names, including AUCloud, Amazon Partner Network, Pay.UK, MIT, Constellation, Fractal Wealth, and the EU’s International Association for Trusted Blockchain Applications to secure a better future.

      Blockchain has been integrated into major global capital market sectors, such as supply chain, trade finance, insurance, digital currencies, and payments. All of these sections have proven to be more secure and adaptable when handled via blockchain. As governments begin to issue digital fiat currencies (digital dollars and euros), network patches linked to different chains will become more functional. Quant will be extremely useful during this phase, increasing its value exponentially as it continues to build an empowered, interconnected world. 

      With such strong potential, Quant’s fixed fiat currency amount is expected to grow as interest in blockchain rises.

      Conclusion: Should You Put Your Money in QNT?

      Investing in QNT is a personal decision, but we believe the network foundation has proven to have real utility, making it a relatively safe and potentially profitable investment option. Investors can also consider investing in Quant crypto due to its scaling and interoperability features, partnerships, and its unique operating system, the Overledger.

      In a traditional investment sense, Quant possesses all of the characteristics of a viable crypto project that will benefit its native cryptocurrency, QNT. However, there are risks associated with investing, one of which is volatility. QNT is extremely volatile, which means investors could lose their entire investment due to market fluctuations. As always: Investors should only invest what they can afford to lose.

      FAQ

      Most frequent questions and answers

      According to CoinMarketCap, there are approximately 12 million Quant (QNT) coins circulating out of a maximum supply of 14,612,493 QNT.

      Yes, Quant was created on the Ethereum blockchain. It is an Ethereum token (ERC-20) that is used to power Quant’s protocol Overledger to address blockchain software solutions.

      Considering Quant’s scalability and interoperability solutions, partnership in major sectors, and blockchain-wide adoptions, the Quant token price could reach $3,020 by 2030.

      No, Quant is an ERC token. It leverages the security of the Ethereum blockchain and enjoys interoperability within the ecosystem.

      Quant interoperability makes it special. It allows distributed ledgers to connect and interact with each other and supports the development of multiple blockchain applications.

      With its overledger technology, the Quant network aims to provide interoperability for all private and external networks.

      Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual’s needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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