Updated: Dec 20, 2019
Quant is being touted as the first blockchain operating system in crypto circles. It intends to connect the world’s networks to facilitate the development of multi-chain applications. The Quant project includes the ambitious Overledger blockchain operating system and the unassuming utility token – QUANT (QNT) token. Both these features are tasked with the responsibility of ensuring interoperability between multiple blockchains, and linking global networks with chains, in a bid to afford more flexibility.
This guide will talk about what Quant is designed for, the team behind it, the way it works, and various uses and applications.
What Is Quant Designed For?
Quant Network is intended to be a pioneering technology company that effortlessly combines cybersecurity, enterprise, and government sectors, developing a cumulative advanced technology that automates trust. Overledger is designed as a blockchain operating system that connects blockchains and networks across the globe.
The vision of the team behind Quant is to build a supportive ecosystem around Overledger, which allows developers and enterprises to innovate, build value and create game-changing multi-chain applications for their users and customers.
Who Is the Team Behind Quant?
Gilbert Verdian is the CEO of Quant Network, with 20 years of experience in network security. Before joining Quant, he was CISO (Chief Information Security Officer) at Vocalink, which is owned by MasterCard.
Colin Paterson is CTO, with a vast experience in Cybersecurity, and a background in AI and IT. He is the co-founder of Trudeau, whose patented technology is used by TrustTag in Go Verify and Sentinel.
Advising the team is Paolo Tasca, the Executive Director of the Centre for Blockchain Technologies (UCL CBT) at University College London. He counsels the EU and the UN on blockchain matters. He is a FinTech economist with a specialty in P2P financial systems.
How Does Quant Work?
Overledger is the keystone project of Quant Network and operates as a ledger of ledgers (hence the name). The function of Overledger, which is also the Operating System of the Quant Network, is to create a connected network of blockchains.
The fact that a smart contract on one crypto platform fails to be recognized as such, by another blockchain platform, strikes outsiders as rather absurd. Quant Network employs various technologies to develop decentralized multi-chains, at an internet-scale.
QNT is an Ethereum based token compliant with the ERC-20 standard. It is also a FiNMA–regulated utility token. The ownership provides digital access to Quant’s apps and other services. QNT tokens are required to access the Overledger Operating System. The tokens must be provided to Quant Network, in exchange for an annual license or platform fee.
QNT is released for fiat depending on the need of the requesting party and can be exchanged for annual license, Consumption or platform fees billed in fiat.
Supply of QNT tokens is fixed at 14,612,493 following the initial token sale, and there are no plans of minting any extra tokens shortly. This is important for investors searching for value by raking in benefits.
What are Current and Future Applications of Quant?
Quant has attracted several partners that have significantly helped its stance in the crypto industry. For starters, it is one of the founding members of the International Association for Trusted Blockchain Applications (INABA). Other members include Enterprise Ethereum Alliance, Fujitsu, Ledger, OATA and many more.
Quant is also working with Amazon’s web services in the capacity of a technical partner. The network recently joined Hyperledger, which is also an open-source collaborative effort seeking to advance cross-chain collaboration.
Additionally, Quant Network was appointed as a guarantor for one of the largest payment networks in the United Kingdom, Pay UK. The platform works alongside other banks and Fintech. Other notable partners include Oracle, Crowdz, AUCloud, UK Cloud, Mobi, Alchemy, Accord Project and many more.
Quant’s inherent idea for multi-chain development is not new. There are numerous companies in this space, some of which have become quite successful as well. However, the revenue streams and utility of the tokens set Quant apart from the competition.
The utility of proprietary token QNT is already strong and required for access to the platform, for both developers and clients. In the future, a certain number of QNT shall be required to be “staked” to make use of certain free applications. This use cases, in particular, help create a natural demand for the token within the ecosystem.
Currently, Quant is ranked 125 based on market cap, making it more of a mid-cap coin, rather than the altcoin.