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QNT

About Quant Network (QNT)

London-based Quant Network is a protocol focused on interoperability, a term of art and science, specifically referring to two or more blockchain networks being able to communicate – that is, share/access each other’s data – or “interoperating.”

Quant's blockchain operating system, Overledger, was specifically designed as an Application Programming Interface (API) for distributed ledger technology (DLT), with a goal of becoming a go-to gatekeeper connecting public blockchains and private networks.

Developers use Ethereum-run QNT utility tokens to stake/power-up Quant's core transactional activity, fostering multi-DLT applications, or "mDApps." What are mDApps? These are unique, possibly game-changing, applications that integrate various functions – decentralized applications ("dApps") – of different chains, similar to how Windows facilitates multiple applications on one computer.

"Quant Network is set to revolutionize blockchain technology with Overledger," CoinGecko said.

The project began in 2018, brainchild of founder/leader Gilbert Verdian, formerly Chief Information Security Officer at Vocalink, MasterCard's UK-based payments systems provider. Building on his experience grappling with disparate payments infrastructures, Verdian set out to help enterprise IT teams integrate multiple forms of DLT, according to Cointelegraph.

"We’ve solved DLT interoperability," Verdian has publicly declared.

Interoperability between blockchain networks has emerged as one of the most important concepts in crypto these days, Cointelegraph said. In August of 2021, QNT was surging and grabbing attention asset as the crypto industry's forward-thinkers sought more cost-effective ways to transfer value, in turn driving interoperability hype. Verdian has boasted that Quant is positioned to re-design the world's financial architecture, so as to create more and more seamlessly interconnected networks; that, in turn, will unlock "new efficiencies for enterprise, individuals and governments alike," Verdian said.

Quant's ongoing work with governments warrants some mention. Possibly being an interoperability category killer is seen as an enviable position in the fast-unfurling age of Central Bank Digital Currencies (CBDCs) to which Quant seems to have pegged its future prospects.

"With its overledger functionality, Bitcoin, Ripple, and Ethereum ledgers are interoperable with Quant protocol," FXEmpire's Oluwapelumi Adejumo said.

The industry-wide problem of dApps being largely single-ledger dependent has stoked competition among players such as Quant, determined to build technology for the deployment of multi-ledger dApps.

From Quant's white paper: "From a technology perspective, the fact that distributed or decentralized applications are single ledger-dependent, makes it difficult to choose the appropriate DLT fit for a purpose, meeting technical and business requirements when considering DLTs for decentralized applications. This technical dependency slows down mass-adoption, limits scope, impedes scalability of new features and reduces necessary controls required for data security and privacy."

From the perspective of a team trying to run a business, as Verdian found out working in the payments space, engaging with a single-ledger DLT application is risky, needlessly complex and prone to inefficient redundancies; and being beholden to a single-ledger DLT creates an incentive to focus too heavily on managing fees and transaction costs, which limits widespread adoption of blockchain.

DLT-agnostic Overledger has the ability to unlock and distribute value as it connects the world's networks to blockchains, ensuring companies are not limited to any single vendor or technology, CoinGecko said.

Ever-growing interoperability between public blockchains and private networks and associated innovations (and media attention) continues to unfold at a steady clip. The release of the latest Overledger upgrade in early February is being touted as an important milestone for smart contract functionality. "QRC20 smart contracts can act as programmable money across an interoperable blockchain payment system," Quant said. "This is the first phase in developing new digital payment instruments that move money more efficiently domestically and across borders."

The current price of QNT

As of early February 2022, QNT was trading near $134. The coin is now, per CoinGecko, 65th-largest in terms of total market capitalization. Back in early September of 2021, QNT reached its zenith, going above $427. For most of the early part of its existence, QNT traded for merely a few dollars. In early 2021, it began to surge, eventually rallying 200% just in the month of August of 2021. Then there came a steady decline to under $100; that bearish period occurred in the autumn of 2021. However, as of late January 2022, QNT has been on an upward climb.

How the price of QNT is determined

QNT’s total supply is 14 million. Developers use the QNT token (an ERC-20 running on the Ethereum blockchain) for a litany of purposes, including paying for access to the Overledger network, and for various platform fees and add-on services, staking and more.

QNT's circulating supply will decrease due to token lockups through various methods, creating deflationary pressures.

Quant recently announced that users can use QNT to pay for licenses through the use of Overledger, per a Crypto Academy analysis.

This could greatly increase the demand for QNT tokens and increase the price in the coming weeks.

What the bulls are saying

*Quant is often described as "the operating system connecting all blockchains," according to FXEmpire's Oluwapelumi Adejumo.

 *Quant has the potential to be an incredible long-term investment, according to the DLT enthusiast/scribe known as "Seq" writing a Medium post.

*QNT has been making moves in Central Bank Digital Currencies (CBDCs), something that may push prices higher, Coin Journal said.

What the bears are saying

*If the QNT price can’t sustain the pressure near the descending trend line, then a different picture will be presented for QNT; that is, the price could go lower, CoinGape said in February 2022.

*A quantitatively driven basket of signals regarding the price direction of QNT flashed decidedly bearish, as of early February, WalletInvestor said.

 *One point of concern is that QNT may have hit a new resistance such that it’s hard to tell yet whether it will be able to break through, SwapSpace said.

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This article is for informational purposes only and takes no account of particular personal or market circumstances, and should not be relied upon as investment, tax, or legal advice. For investment, tax, or legal advice and before taking any action you should consult your own advisors. Note that digital assets such as cryptocurrencies present unique risks for investors. Please see our disclaimer regarding risks specific to holding digital assets before investing.

May not be available in all jurisdictions.

This content is correct as of February 2022.

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