Understanding Quant Network (QNT): A Path to Blockchain Interoperability

Blockchain technology has revolutionized the way business transactions are conducted, providing a secure and decentralized platform for a wide range of applications. However, one of the challenges that still looms over the industry is the interoperability among different blockchains, which has become a major bottleneck for large enterprises looking to leverage blockchain technology in their operations. Enter Quant Network.

The Concept of Quant Network

More than a decade ago, Satoshi Nakamoto introduced the first blockchain, which served as the public transaction ledger for Bitcoin. Since then, various blockchain types have emerged, but the issue of interoperability has hindered the widespread adoption of blockchain by large enterprises. This is where Quant Network comes in, offering a solution to this interoperability problem through its innovative Quant Overledger Operating System.

Quant Overledger Operating System

The Quant Overledger Operating System aims to connect different blockchains and networks, functioning as the so-called Quant Network. At the heart of this network is the native token QNT, which is an Ethereum-based ERC-20 utility token. The QNT token is regulated by FINMA, the Swiss Financial Market Supervisory Authority, as a utility token designed to provide digital access to applications or services within the Quant ecosystem.

Use Cases and Applications

The Quant ecosystem allows developers and enterprises to build multi-chain applications (MApps) that can span multiple blockchains. Unlike decentralized applications (dApps), which are built on single chains, MApps can move seamlessly across different chains as needed. This opens up a new world of possibilities for businesses, enabling them to create more flexible and resilient applications.

Everyone who wants to use or develop an MApp must hold QNT tokens. The Quant App Store model mirrors the app stores of giants like Google and Apple. It provides a platform for developers to create and publish MApps, with the option to charge for these through the app store itself. Subscriptions, recurring prices, one-off fees, or in-app fees can all be charged in fiat or digital currencies, making the Quant Network more attractive to both developers and end-users.

Competitors and Progress

Among Quant's competitors are Aelf, Open Trading Network, and EXRNchain. Notable milestones reached by the Quant Network in 2019 included the launch of the Quant App Store and Enterprise MApps. The Overledger Network was officially launched on June 30, 2020.

Salient Features of Quant Network

Quant App Store: Similar to app stores like Google Play or the Apple App Store, it serves as a platform for developers to publish and sell their MApps. Enterprise MApps: Tailored solutions for large enterprises that require a multi-chain approach for their operations. Overledger Network: A blockchain interoperability solution that allows MApps to run on multiple chains.

Quant has made significant progress in partnerships, collaborating with companies such as Oracle and SIA. Oracle has integrated the Quant network as a fintech partner to deliver financial services infrastructure to its clients. SIA has also tested the interoperability between its blockchain and the Quant network, successfully proving the concept.

Tokenomics and Roadmap

The tokenomics of the QNT project are designed to ensure sustainable growth and demand for the token. In 2019, the team completed a burn of 9,545,765.950989192 QNT, which were not sold during the ICO. The total fixed supply of QNT is 14,612,493, allocated as follows:

9,964,259 QNT: Sold to the public during the ICO 2,649,493 QNT: Company reserve for RD, infrastructure, legal/Intellectual Property (IP), marketing, and exchanges 1,347,988 QNT: Reserved for founders 650,753 QNT: Reserved for advisors

Holders of QNT tokens can be categorized into three groups:

Whales addresses: Holding more than 1% of the circulating supply Investors addresses: Holding between 0.1 - 1% of the circulating supply Retail addresses: Holding less than 0.1% of the circulating supply

While the Quant Network is a private company and does not disclose its revenue, the 2019 Forbes article featuring the CEO, Gilbert Verdian, mentioned that the company was on track to generate 10 million in revenue for the 2019 fiscal year. Additionally, in June 2020, Alpha Sigma Capital was announced as a new investment partner.

Final Thoughts

As blockchain and distributed ledger technologies continue to gain traction, the need for interoperability remains a critical challenge. Quant Network aims to bridge this gap by offering a platform that can connect multiple blockchains and allow for seamless interactions. The demand for the QNT token will likely grow as more businesses embrace this multi-chain approach, and the limited supply of 14.6 million tokens ensures that the market conditions will foster this growth under the law of demand and supply.