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NDAX New Coin Listings: What is Quant (QNT)

Feb 07, 2024
byNDAX Labs

What is Quant (QNT)? 

Quant is a crypto-industry service provider facilitating data communication and connectivity between private networks (like banks or corporations) and public blockchains. A little like a blockchain oracle consultant and software developer.  

Case in point, Quant’s enterprise software Overledger was designed to facilitate a conduit between public blockchains and private networks, enabling access for blockchain projects to interact across diverse blockchain networks. 

Quant is actively engaged in the advancement of central bank digital currencies (CBDCs), drawing from their prior involvement with central banks in the United States and the United Kingdom. 

How QNT works 

Overledger is the first blockchain operating system that facilitates the development of multi-chain applications. By connecting different blockchains, Overledger allows for the creation and consumption of services and digital assets across various chains. This includes transferring data, messages, and smart contract invocations from one chain to another, leveraging the strengths of each chain. 

**Warning! It is important to DYOR (Do Your Own Research) before investing in any asset, especially new crypto projects. Don’t become “exit liquidity” for early venture capital investors, crypto influencers and large professional traders: Their job is to make money by buying into new crypto projects early, marketing the project, and then selling these coins to a mass of largely unaware public. Investing in any asset class carries tremendous risk: Crypto is no exception. Never invest more than you are completely willing to lose.** 

The History of Quant 

Quant Network, founded by Gilbert Verdian in 2015, garnered over $11 million through a successful initial coin offering (ICO) in April 2018. Gilbert Verdian, serving as CEO, holds prominent positions including Chair of the UK Blockchain and Distributed Ledger Technology committee and membership in the EU's Blockchain Observatory and the Federal Reserve. Co-founders Colin Paterson and Paolo Tasca joined in 2017, with Paterson as Chief Technology Officer and Tasca as Chief Strategist. Tasca later transitioned to an advisory role and holds various positions including Executive Director of the UCL Centre for Blockchain Technologies and Co-Chair of the Hedera Treasury Management and Token Economics Committee. Colin Paterson, a cybersecurity expert, has held positions at Deutsche Bank and Vocalink, acquired by Mastercard in 2017. 


Quant Project Details 

The Quant Network focuses on creating links between various distributed ledger networks, offering infrastructure to organizations and governments for seamless connectivity between their products and multiple blockchains. Overledger, Quant's blockchain gateway, acts as an API gateway facilitating efficient data transfer between different blockchain platforms. The network's native cryptocurrency token, QNT, fuels the ecosystem and is utilized for accessing and utilizing the Quant network's services. 

About QNT 

How It Works: 

The Quant network centers around the Overledger DLT (distributed ledger technology) Gateway platform, facilitating API connections for businesses to integrate their standard infrastructure with various blockchain ledgers.  

Overledger enables developers to launch multi-blockchain decentralized applications (mDApps), compatible with popular blockchains using the Overledger operating system.  

QNT tokens are utilized for accessing Overledger and paying licensing fees and are essential for creating or using mDApps within the Quant ecosystem.  

Additionally, developers can utilize Quant Network's QRC-20 token standard to launch blockchain-agnostic tokens, similar to Ethereum's ERC-20 standard.  

 The recent introduction of QRC-20 smart contracts simplifies token deployment for businesses with a user-friendly drag-and-drop system. 


What QNT Is Used For: 

QNT is an ERC-20 (Ethereum) token integral to driving the functionality of Quant Network's Overledger suite of software solutions. QNT tokens are used to access the Overledger network and are necessary for reading from and writing to multiple blockchains; QNT, therefore, enables these functionalities—or the secure, simple, and cost-effective connection between public blockchain, private networks and/or various private blockchains and crypto networks. QNT also facilitates the creation of multi-chain applications (MApps). 


Key Takeaways: 

 - The Quant Network, founded by Gilbert Verdian in 2015, offers an infrastructure for seamless connectivity between distributed ledger networks, with Overledger acting as an API gateway.  

- Overledger facilitates multi-chain application development by connecting different blockchains for data and asset transfer, leveraging the strengths of each blockchain. 

- QNT tokens power the ecosystem, used for accessing Overledger, paying licensing fees, and creating blockchain-agnostic tokens through the QRC-20 standard. 

- Gilbert Verdian, CEO of Quant, holds significant positions in blockchain committees, while co-founders Colin Paterson and Paolo Tasca contribute expertise in technology and strategy. 


Disclaimer: This article is not intended to provide investment, legal, accounting, tax or any other advice and should not be relied on in that or any other regard. The information contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise.