What is the Quant Network?

What is the Quant Network?

The Quant Network is an open-source communication protocol that offers a network for businesses and developers to connect to and communicate with various distributed ledger technologies (DLTs) simultaneously. The Quant Network aims to address blockchain’s interoperability issues by using the Overledger DLT operating system. The project was established in 2015 by Gilbert Verdian to improve the effectiveness of information communication worldwide. The Quant Network is an open, dependable, and secure network that allows the internet to reach its potential as a decentralized network of networks.

What is Quant (QNT) cryptocurrency?

QNT token is the native cryptocurrency of the Quant network. QNT is an ERC-20 token. However, it is blockchain independent and can easily switch to any other blockchain. The Swiss Financial Market Supervisory Authority (FINMA) governs QNT as a utility token that aims to give users online access to an application or service. Developers require QNT tokens to build on the Overledger platform. However, licenses to use Quant Network’s services are purchased by developers using fiat currency, which is then converted to QNT crypto by the Quant Treasury. This implies that businesses can make compliant purchases without dealing with exchanges directly. Similarly, payments for read-and-write operations to Overledger must be made in QNT based on a fiat value that the Quant Treasury converts to QNT tokens. Additionally, if developers decide to monetize their applications, they can charge subscriptions in QNT, fiat or any other digital currency. Moreover, in order to use multiple decentralized applications (mDApps) and access the Overledger ecosystem, end users will also need to hold QNT tokens. For instance, they will need QNT to renew their license key annually.

How does Quant (QNT) Network work?

Quant’s Overledger DLT Gateway, also referred to as the Enterprise 5, supports multiple blockchains, including Bitcoin, Hyperledger Fabric, Ethereum, R3 Corda, and BNB Chain. The Quant Network aims to solve blockchain interoperability issues using Overledger, an application programming interface (API) gateway that supports distributed ledger technology (DLT) interoperability. The Overledger DLT Gateway is a software focused on building connections between existing distributed ledger networks. Quant provides organizations and governments with the infrastructure they need to connect their products with multiple blockchains and efficiently transfer data between systems. The Quant Network is built as an operating system distributed ledger technology— and Overledger Network — for connecting different blockchain networks. The project is billed as the first OS to be built for blockchains. The main aim of Quant — using Overledger — is to bridge the gap that exists between different blockchains. The backbone of the project is the Overledger network, which Quant bills as the ecosystem on which the future digital economy ecosystem will be built. Overledger allows developers to build decentralized multi-chain applications (known as MApps) for their customers. For developers to build an Mapp on the network, they must hold a certain amount of Quant tokens (QNT).

Transaction Layer

The transaction layer is responsible for the transfer of transaction layer packets (TLP). The transaction layer disassembles the transaction and transfers data to the application layer in a form that it can recognize. The transaction layer generates a TLP from information sent by the application layer.

Messaging Layer

The messaging layer is a security layer for end-to-end encrypting messages in arbitrarily sized groups. It is maintained by the MLS working group of the Internet Engineering Task Force to provide an efficient and practical security mechanism.

Filtering and Ordering Layer

The filtering and ordering layer is responsible for filtering and ordering transactions. It ensures that transactions are processed in the correct order and that the correct transactions are processed.

Application Layer

The application layer is responsible for the creation and management of applications. It provides a set of APIs for developers to create and manage applications on the Quant Network.

Main features of the Quant protocol

The main features of the Quant protocol include:

• Interoperability
• Scalability
• Security
• Decentralization
• Efficiency

How and where to buy Quant (QNT) tokens?

You can buy QNT tokens on various cryptocurrency exchanges such as Bithermes,  BitMax, and more. You can also buy QNT tokens on decentralized exchanges such as Uniswap. Before buying QNT tokens, you need to create a wallet that supports QNT tokens. You can use wallets such as MyEtherWallet, Ledger Nano S, and Trezor. Once you have created a wallet, you can transfer your QNT tokens to your wallet.