How & Where to Buy Quant (QNT)
Use Quant: Ways to send & spend QNT
Quant Price & Information
Current QNT price and historical price chart
What is Quant?
Quant (QNT) is an Ethereum token and the system native currency of Overledger, the “world’s first blockchain operating system.” The idea behind Overledger is to connect different blockchains to each other, and at the same time connect existing non-blockchain networks to blockchains, thereby facilitating the creation of “internet scale multi-chain applications,” which are otherwise known as mApps. In this way, it helps to simplify the development of apps that can run on a multitude of blockchains. Overledger thereby serves as an agnostic platform capable of connecting different networks around the world to blockchains, enabling its users to avoid having to rely on any one single vendor or technology.
History of Quant
The Quant Network was founded by blockchain technologist Gilbert Verdian in 2017. The idea of intertwining blockchains was brought on by the rapid increase in the number of platforms built on Ethereum during 2017, which has started to raise questions on the limitations of using a single protocol, thus ushering in the need for a system of interconnecting various blockchain platforms. The QNT token sale lasted for one day only, in March 2013. The QNT token first hit the cryptocurrency markets in August 2018 and unlike most other ICO products launched that year, steadily increased in value through the year’s end. By February 2019, it had entered the top 100 coins by market cap.
How Quant Works
Quant works primarily as a payment mechanism for Overledger, which is a blockchain Operating System (OS) built to process data from or to any type of blockchain, therefore allowing DApps to exchange information across blockchains. In order to accomplish a universal level of interoperability and provide horizontal and vertical scaling, Overledger reduces blockchain architectures to four different components: “transaction layers”, “messaging layers”, “filtering and ordering layers” and “application layers”. Their architecture follows similar principles that inspired classic internet data relay models by redistributing tasks through the four different layers. In doing this, Overledger enables developers to create multi-chain applications (“Mapps”), which are DApps that run seamlessly using the same business logic across differing blockchain networks and platforms.
Quant is quite different in its utility as compared to most other blockchain-based projects, in that it allows blockchains to “talk” to one another quite simply. As such, it offers several advantages over other projects, including:
- Flexibility. The option and ability to move to different ledgers if the underlying technology becomes obsolete or transaction fees can be too high, meaning Overledger users can take advantage of its availability, potentially saving them money.
- Backwards Compatibility. Overledger offers the ability to connect to older or “legacy data sources” via external APIs, taking advantage of key aspects of blockchain technology.
- Simplicity. Overledger was designed for ease of use and its development interface is highly standardized. DApp developers can quickly learn the Overledger API to produce both cross ledger and standard applications, reducing time to market while simultaneously democratizing development.