Quant recently published an introduction to the Payment Channel on Medium.
During the introduction, it is mentioned that the Quant Network has recently begun their first phase trial of the Overledger Network (OVN), which is comprised of numerous gateways.
Additionally, each gateway links to and offers access to resources. These can be the distributed ledger, data, and APIs, among other things.
The developers can then utilize the Overledger Network to access the capability of any resource that connects to a gateway. Moreover, it is with a charge associated with each accessed help.
Quentin recently posted a tweet about Treasury Payment channels on the Over Ledger Network, which is as follows. Dev to Treasury PC Creation – Dev to Treasury PC Expiry – Treasury to Global Payment Channel Creation (Treasury to Global Payment Channel Topup – Treasury to Global Payment Channel Expiry).
The community treasury allows developers to pay the gateway owners in QNT in exchange for the use of the available resources. It is worth noting that the QNT builds on the Ethereum blockchain. Also, the community treasury uses unidirectional payment channels to boost transaction throughput while also lowering transaction fee costs for the sake of efficiency.
In a Twitter post, Sydney Ifergan, a crypto specialist, wrote that some celebrate QNT as the lifeblood of the Internet of Trust. According to users, the most frequently mentioned use cases are development and enterprise Licences gateways; fee plus staking; gateways incentive; transaction fees; collateral for payment channels; and encryption and verification.
QNT wallet is also the address that will hold any QNT sent to it by the users. Therefore, making it suitable for use as a cold wallet. In smart treasury contracts, the operator is the address that will call functions on the arrangements. It also permits QNT payments that will flow via the channel and claiming QNT from a psychic, respectively.
Neil Smit’s Appointment to the Position of Quant (QNT)
Quant has appointed specifically Neil Smit, the chairman, and CEO of Comcast Corporation, to their board of directors. The Quant Team developed a new operating system for distributed ledger technology (DLT). Indeed, it allows for interoperability across legacy networks and protocols.
Smit expressed that he pleases to be a Quant team.
Gilbert Verdian, CEO of Quant Network, said to Coin Rivet that building their footprint in the United States is essential to their business plan. Verdian said that Neil has the ideal background and experience in large-scale Internet networks to assist them in achieving their objective. They are very glad that Neil agreed to serve on our board of directors.
This appointment primarily focuses on leveraging Smit’s ties and knowledge obtained from running large-scale internet networks to assist the company in expanding its presence in the United States market further.