Quant Network (QNT): Beginner’s Guide


Spoiler alert: there isn’t any one blockchain that can rule all of them. Totally different use-cases require completely different blockchains. Which means interoperability between these blockchains goes to be important as time goes on. Whereas many cryptocurrency initiatives together with Band Protocol and NEAR Protocol are already tackling the interoperability situation, Quant Community is doing it in a totally completely different method.

In distinction to different cryptocurrency initiatives, Quant Community doesn’t wish to make issues extra difficult by making their very own interoperable blockchain that plugs into others. They’re constructing an interoperable blockchain working system that can sit on prime of different blockchains. This can give each people and establishments the intuitive platform they should actualize the potential of blockchain tech.

A short historical past of Quant Community

Quant Community begins with a person named Gilbert Verdian. Like the opposite juggernauts who’ve constructed promising cryptocurrency initiatives, Gilbert is not any unusual man. His expertise and the connections he has constructed with establishments in each the private and non-private sector are arguably unmatched by anybody else within the crypto area.

Gilbert Verdian

Gilbert Verdian, CEO of Quant Community. Picture by way of Medium

Gilbert first heard about Bitcoin in 2009, and through his spectacular profession he has been religiously pushing for his employers to undertake blockchain applied sciences. He didn’t simply do that as some common worker both. Gilbert has held prestigious positions at firms like Ernst & Younger, HSBC, BP Oil, and Value Waterhouse Coopers.

Blockchain ISO Standard

If that was not spectacular sufficient, his public sector expertise contains working with Her Majesty’s Treasury, the UK Ministry of Justice, the Financial institution of England, and even the Federal Reserve. In 2015, Gilbert helped discovered the Blockchain ISO Standard TC307 which is now utilized by nearly 60 nations around the globe to information their blockchain growth.

Quant Network Whitepaper

Quant Community’s whitepaper, launched January 2018.

Round that point, Gilbert started laying the groundwork for what would ultimately grow to be the Quant Community. In December 2017, the Quant Community was officially announced. Its mission was (and nonetheless is) to unravel all of the blockchain woes Gilbert noticed firsthand throughout his time at these prestigious establishments. All these points have been basically associated interoperability, which is what Quant Community hopes to unravel.

What’s Quant Community?

Quant Network is a blockchain expertise firm trying to obtain common interoperability between blockchains utilizing its Overledger OS blockchain working system. In distinction to different cryptocurrency initiatives, Quant Community just isn’t open supply and far of the expertise utilized in its merchandise is patented, requiring licensing to make use of.

Quant Network Overledger

An summary of Quant Community’s Overledger OS.

Though Quant Community focuses extra on enterprise blockchain providers, it’s also trying to combine a number of cryptocurrency blockchains into its Overledger Network. On the time of writing, Quant Community helps Bitcoin, Ethereum, XRP, Binance Chain, Stellar, EOS, IOTA, and Constellation. It additionally helps JP Morgan’s Quorum blockchain, the R3 Corda blockchain, and the Hyperledger Material blockchain.

How does Quant Community work?

Since Quant Community is closed supply undertaking, it doesn’t share the main points of how its core applied sciences perform. Crucial factor to bear in mind is that Quant Community just isn’t a blockchain.

Overledger OS Dashboard

The Overledger OS Dashboard

It’s an ecosystem consisting of assorted parts together with the Overledger OS blockchain working system, multi-chain apps (mApps), the Overledger Community, the Overledger Community Market, the Treasury, and the QNT token (which can be mentioned within the subsequent part).

The Overledger OS

Overledger OS is an interoperable blockchain working system. In different phrases, it permits these utilizing the Overledger OS to work together with a number of completely different blockchains concurrently. The Overledger OS is meant to be the Home windows or macOS of the longer term community of blockchains.

Overledger OS Blockchain

A technical overview of the Overledger OS.

Whereas Quant Community doesn’t give an in depth clarification of how their Overledger OS works, their FAQ page states that it’s based mostly off Google’s open supply Kubernetes expertise. With out getting too detailed, Kubernetes makes it doable for an app to help 1000’s of customers with out being overwhelmed (e.g. crashing). It does this by robotically fixing any errors utilizing a community of nodes.

Overledger OS Fees

A partial screenshot of the pricing schedule for Overledger OS licensing charges.

Like many different software program packages, the Overledger OS just isn’t free to make use of. Each people and establishments should pay an annual licensing fee to make use of the Overledger OS. This payment is mounted for people and varies for establishments relying on a lot of metrics together with the dimensions of their firm. Paying this license permits them to create multi-chain apps (or mApps) utilizing the Overledger OS.

Multi-Chain Functions (mApps)

Multi-chain applications (mApps) are self-explanatory – they’re purposes constructed on prime of a number of blockchains. That is distinction to common decentralized purposes (dApps) that are constructed on a single blockchain, often Ethereum. Every mApp is made up of Treaty Contracts – superior packages which permit a number of sensible contracts on completely different blockchains to work collectively.

Overledger Mapps

A technical overview of how mApps are constructed utilizing Overledger OS.

Since mApps are constructed on a number of blockchains, their pace and effectivity depends on the underlying blockchains getting used. For instance, in the event you construct a mApp utilizing Ethereum and Solana, the a part of the appliance constructed on Ethereum would solely have the ability to deal with 15 transactions per second whereas the opposite half would have a pace of practically 65 000 transactions per second.

Overledger Applications

One other technical overview of how mApps work.

The concept is that each people and establishments will have the ability to leverage one of the best components of every blockchain within the mApps they construct. For instance, they may use the pace of Solana blockchain to deal with transactions and use the safety of the Bitcoin blockchain to settle funds of their mApp. People and establishments also can select to promote their mApps and their information on the Overledger Community Market.

The Overledger Community

The Overledger Community consists of the assorted events constructing on the Overledger OS working system. The Overledger Community makes it possible for these events to purchase and promote information and digital purposes utilizing the Overledger Community Market.

Overledger Network

A technical overview of the Overledger Community.

All transactions on the Overledger Community Market are performed utilizing the Treasury, a sequence of sensible contracts construct on Ethereum. The Treasury acts as a 3rd celebration to all transactions and takes a small lower which fits to the Quant Community.

Overledger Treasury

Detailed steps of how funds are locked and launched within the Overledger Treasury.

The Treasury additionally custodies the QNT tokens required to pay the annual licensing charges for the Overledger OS. It then sells these tokens on the present market value on the finish of the contract. Though all transactions throughout the Quant Community are made utilizing QNT, every little thing is priced in US . The quantity of QNT tokens required for a specific transaction is decided by an in-house value oracle.

QNT Cryptocurrency

QNT is an ERC-20 token used to pay for items, providers, and licensing charges within the Quant Community ecosystem. Following a token burn in September 2018, the utmost provide of QNT is simply over 14.5 million. QNT is neither inflationary nor deflationary.

QNT Token Burn

Quant Community’s QNT token burn announcement.

Roughly four.5 million tokens have been allotted to the Quant Community, whereas the remaining 10 million tokens are available on the market. Quant Community seems to have offered a few of their tokens because the 2018 burn, as there may be round 12 million QNT at present in circulation.

Quant Token Supply

Quant’s whole provide based on Etherscan

It is very important observe that this new provide is not reflected on Etherscan. Nonetheless, as per the Medium put up explaining the burn, Etherscan has added a observe within the Info tab for the QNT token reflecting its appropriate provide. The big quantity of tokens held within the Quant Community sensible contract deal with are those who have been burned.

Quant Community ICO

Quant Community held the ICO for its QNT token in May of 2018. On the time, QNT had a most provide simply in need of 45.5 million tokens. Simply over 30% of this provide had been allotted to the Quant Community, and the remaining 70% was supposed to be offered through the ICO and presale.

Quant Network ICO

Quant Community’s ICO fundraising targets.

The QNT ICO appears to have fallen flat, elevating simply 11 million USD. This was considerably lower than its tender cap of round 16 million USD, and nearly 4x lower than the onerous cap of 40 million USD. On condition that the ICO value of QNT was round 1.1$USD, this equates to roughly 10 million tokens offered. This confirms the quantity in circulation after the 2018 burn which happened simply four months after the ICO.

QNT Cryptocurrency Value Evaluation

The QNT token has a outstanding value historical past in comparison with different cryptocurrencies. Ever since buying and selling for QNT started in August 2018 (because of a 2-month token lock-up after the ICO), its value has been in a really seen uptrend.

Quant Cryptocurrency Price

The worth historical past of the QNT token. Picture by way of Coinmarketcap

After crashing down to just about 1.50$USD per token through the flash crash in March, QNT has since recovered. It has even managed to surpass its earlier excessive of 12$USD with a value of practically 16$ in late October this yr. Latest value motion stays extraordinarily bullish, however this could possibly be because of market manipulation.

QNT Trade Listings

QNT just isn’t supplied on very many respected exchanges. If you’re trying to bag some QNT tokens, your choices are basically restricted to Bittrex, Uniswap, or Bithumb. Observe that in the event you resolve to make use of Uniswap you might pay a good-looking value in fuel charges to execute the commerce since it’s a DEX constructed on Ethereum.

QNT Cryptocurrency Markets

Buying and selling pairs for the QNT token. Picture by way of Coinmarketcap

Liquidity just isn’t superb on these exchanges both, that means you would possibly have to pay a premium if you’re trying to purchase numerous QNT. Remember to steer clear of the exchanges with the best buying and selling quantity right here – Bilaxy and Fatbtc are identified to have interaction in wash buying and selling and other bad practices.

QNT Cryptocurrency Wallets

Since QNT is an ERC-20 token, it may be saved on nearly any cryptocurrency pockets that helps Ethereum. When you favor having your tokens helpful, the Atomic Wallet or Exodus Wallet are most likely one of the best choices for you. Each are supplied on cell and desktop and are loaded with a bunch of cool options.

Trezor Ledger Wallet

Trezor and Ledger pockets units. Picture by way of Exodus

When you plan on holding on to your QNT for a while, contemplate getting your fingers on a pockets like a Trezor or a Ledger machine. Whereas these might be expensive, they’re your greatest method of making certain your funds keep safe. By no means go away your crypto on an alternate, particularly not on the type of shady exchanges that the majority QNT tokens are apparently being traded on!

Quant Community Roadmap

Quant Community doesn’t seem to have a roadmap for the time being. Their older roadmap proven beneath outlines many milestones, most of which don’t appear to have been reached. That is possible because of their lackluster ICO, which doubtless didn’t increase sufficient cash to gas any severe growth on the undertaking.

Quant Network Funding

Fortunately, in July of this yr it was announced that Quant Community had obtained an undisclosed quantity of funding from Alpha Sigma Capital. This appears to have finished the trick because the Quant Community is lastly within the levels of beta testing its varied applied sciences.

Quant Network Mission

Quant Community’s mission assertion.

Quant Community’s long-term vision is actually to be the Apple or Microsoft of blockchain. Certainly, they don’t precisely conduct themselves like one other cryptocurrency undertaking and possibly share extra in widespread with Silicon Valley tech giants.

It’s also value noting that Quant Community apparently didn’t initially have plans to launch a token. This was revealed during an earlier interview with Quant Community CEO Gilbert Verdian. Nonetheless, not solely is there now a QNT token, however Quant Community is enjoying with the thought of providing QNT token staking sooner or later.

Gilbert Verdian Twitter

Certainly one of Gilbert Verdian’s current tweets expressing curiosity in CBDCs.

Gilbert Verdian appears to have been specializing in leveraging his current connections within the non-public and public sector. His tweets suggest that he’s trying to present the Overledger OS because the interoperability resolution to governments and central banks that are at present creating their CBDCs on varied blockchains.

Our Opinion on Quant Community

Quant Community is an formidable undertaking which appears to have skilled greater than its justifiable share of setbacks. That is most likely as a result of the undertaking was launched over the past cryptocurrency bull market. It isn’t very doubtless that individuals have been listening to the undertaking whereas Bitcoin was going parabolic. They have been additionally most likely not too eager on investing in it when markets crashed within the spring of 2018.

Quant Network YouTube

The Quant Community YouTube channel exhibiting a rise in exercise since July. Picture by way of YouTube

Now that they’ve obtained a second wind of funding, Quant Nework appears to be again on monitor. The query is whether or not they can develop their Overledger OS to the diploma essential to lock down some private and non-private contracts. On the brilliant aspect, Quant Community doesn’t appear to have very a lot competitors. This is perhaps a testomony to the impossibility of their purpose, nevertheless.

Probably the most regarding query is what’s going to occur to the QNT token sooner or later. It appears to be a short lived crutch to herald consideration to the Quant Community. As soon as the Overledger OS begins attaining mainstream adoption, would anybody be keen to go digging into these sketchy exchanges to get the QNT they should pay for licensing charges and providers? Or will they demand to make use of fiat forex as an alternative?

Overledger Enterprise Guide

Quant Community’s current product information for enterprise shoppers doesn’t point out the QNT token.

That is one thing to bear in mind for anybody who’s invested within the undertaking. QNT could also be trying scorching proper now, however widespread sense suggests this cryptocurrency token just isn’t going to age effectively as time goes on. In any case, Quant Community appears to have the connections and the capital essential to actualize their Overledger OS imaginative and prescient. We must wait and see what it should imply for the QNT token

Featured Picture by way of Shutterstock

Disclaimer: These are the author’s opinions and shouldn’t be thought-about funding recommendation. Readers ought to do their very own analysis.

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