What is Quant (QNT)?

Imagine a world where email providers couldn’t communicate. Gmail users couldn’t message Outlook users, and Yahoo Mail existed in complete isolation. This is essentially the state of today’s blockchain ecosystem: fragmented networks operating in silos, unable to share data or value efficiently. This is where Quant Network comes in.

Made up of the Overledger blockchain operating system and QNT token, the goal of the Quant Network is to allow multiple blockchains to work together and to give more flexibility when it comes to linking different global networks, services, and chains. With an impressive founder and resilience to the bear market, QNT has made a considerable impression in the industry.

What Is The Quant Network?

The Quant Network was designed to connect blockchains and networks on a global scale, prioritising interoperability and trust functions between them using the Overledger operating system, the first OS built for blockchains.

The Overledger network acts as the backbone of the project and is not a blockchain but rather an Application Programming Interface (API) gateway that allows developers to build decentralised multi-chain applications (known as Mapps) and bridges the gap between various blockchain networks.

The Quant project believes that this technology will be the foundation on which the future digital economy will be built. In light of this, the network has been working with central banks in the US and UK to build Central Bank Digital Currencies (CDBCs).

Founded in 2015 the platform officially launched in 2018 following a successful ICO earlier that year. July 2020 marks the launch of the world’s first blockchain operating system in July 2020, Version 1.0.

Who Created The Quant Network?

Quant was founded by Gilbert Verdian, a cybersecurity expert who has held government-level positions around the world. These positions include the UK Treasury, the Australian Department of Health, and the US Federal Reserve, and private sector roles at HSBC Bank, Mastercard’s Vocalink, BP, and more.

With over two decades of experience in the cybersecurity space, Verdian learned the power that blockchain technology holds when it comes to solving a plethora of security problems related to the exchange of digital assets and information on a global level. 

Verdian sits as the chair of the UK Blockchain and Distributed Ledger Technology committee and is a member of the EU’s Blockchain Observatory and the Federal Reserve. 

In 2017, Colin Paterson and Paolo Tasca joined the project as co-founders, each bringing their own impressive experience. Paterson, acting Chief Technology Officer, is a cybersecurity expert having worked with Deutsche Bank and Vocalink and acted as the chief information officer of NSW Ambulance, the CISO of eHealth NSW, and the security lead of the Ministry of Justice, UK, prior to joining the project. 

Tasca, Chief Strategist, serves as the Executive Director of the University College London (UCL) Centre for Blockchain Technologies, Executive Board Member of the DEC Institute, and as Co-Chair of the Hedera Treasury Management and Token Economics Committee.

How Does The Quant Network Work?

The Overledger Operating System

Quant’s technology revolves around Overledger, which functions as a distributed ledger gateway rather than another blockchain. This distinction is key: Overledger doesn’t process transactions itself but rather facilitates communication between different blockchains that do. The system uses a four-layer architecture:

1. Transaction Layer: This foundational layer connects to various blockchains like Bitcoin, Ethereum, Ripple, Hyperledger Fabric, and R3 Corda. It reads and writes transactions across these different ledgers without interfering with their native operations.
2. Messaging Layer: Acting as the communication hub, this layer verifies, orders, and shares transaction data between connected blockchains. It ensures that information moving between networks maintains integrity and security.
3. Filtering & Ordering Layer: This layer validates off-chain messages and filters out data so that only relevant information reaches the application.
4. Application Layer: Here, developers build multi-chain decentralized applications (called Mapps or mDapps) that can operate across multiple blockchains simultaneously. This layer provides APIs and interfaces that simplify cross-chain development.

Multi-Chain Applications (Mapps)

Traditional dApps run on a single platform (like Ethereum or Polkadot), limiting their utility and user base. Mapps break these barriers.

For example, a Mapp could use Bitcoin for value storage, Ethereum for smart contract execution, and Hyperledger for regulated transaction records, all within a single application. This flexibility allows businesses to choose the best blockchain for each specific function rather than compromising with a one-size-fits-all solution.

APIs and Development

Quant prioritizes usability for enterprise adoption. The platform offers standardized APIs that allow developers to connect existing business processes and infrastructure to multiple blockchains with minimal coding. The drag-and-drop interface for creating smart contracts and tokens (using Quant’s QRC-20 standard, similar to Ethereum’s ERC-20) means even teams with limited blockchain experience can operate across multiple chains.

This approach significantly reduces the cost and time required to implement blockchain technology, addressing what has been a major obstacle.

What Makes Quant Different?

Blockchain Agnosticism

Overledger connects a wide array of public and private blockchains through a single API, without requiring them to adopt new protocols or compromise their security models. This feature is particularly valuable for financial institutions and corporations with existing blockchain investments.

Business-First Design

Quant was built from the ground up for enterprise adoption, with features addressing business needs: regulatory compliance, data security, integration with legacy systems, and scalability on a global scale. The team’s background in financial services and government projects informs these design choices.

Production-Ready Technology

While many interoperability projects remain in development, Quant’s technology is already deployed in production environments. Partnerships with central banks, healthcare sector organizations, and financial institutions demonstrate real-world utility beyond theoretical innovation.

Patent-Protected Innovation

Quant holds multiple patents for its Overledger technology, providing intellectual property protection and potential competitive barriers. This factor may appeal to institutional investors concerned about sustainable competitive advantages.

What Is QNT?

QNT is an ERC-20 token that is used to access the Overledger network and validate transactions on the network. There is a maximum supply of 14.88 million QNT tokens, of which over 81% are in circulation, at the time of writing.

All product users, developers, and gateway operators are required to purchase annual licences, used to maintain platform efficiency. These licence fees are converted to QNT and locked up in the Quant treasury. If a user does not renew their licence, they forfeit their fees, discouraging them from dumping tokens on the market if the price increases.

Transaction fees for using Overledger are paid in QNT to gateway operators. Since its launch in August 2018, QNT has seen consistent price growth and activity on the network.

Where Can I Get QNT?

You can trade QNT on the Tap app, one of the most secure solutions in the crypto space as being a fully regulated crypto fintech. Using a range of cryptocurrencies and fiat currencies on offer, users can exchange any of the supported currencies to build a healthy portfolio that can be safely stored in its unique wallet linked to your account.

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