Thursday, June 1, 2023

Quant: What is it?


The difficulties of incorporating legacy technologies with the numerous new distributed ledgers that are constantly evolving and coming to market are still holding back enterprise implementation of blockchain technologies.

Despite this, large numbers of platforms are starting to develop the tools and products required to close the gap. For example, Quant is a set of enterprise blockchain solutions based on the Overledger blockchain operating system

The Basics

The initially revealed Quant (QNT) in 2018 as a blockchain interoperability network and operating system. An initial coin offering (ICO) funded the project. It raised $11 million (out of a hard cap of $36.9 million).

The project belongs to the blockchain platform’s interoperability solutions category. It is for narrowing the gap between multiple blockchains and enterprise software with a simple plug-and-play solution. The solution doesn’t necessitate teams deploying new infrastructure.

Quant’s Overledger API gateway enables multiple blockchains to interact with each other. It uses a growing list of DLT and API connectors. This is accomplished without jeopardizing each chain’s individuality, performance, or speed, guaranteeing that each preserves its distinct characteristics.

Gilbert Verdian, Colin Paterson, and Paolo Tasca are the founders of the Quant Network. Verdian is a trailblazer in the blockchain space, with extensive expertise in technology and security. Before joining Quant as CEO, he worked for a number of well-known companies, such as PricewaterhouseCoopers, BP, and Vocalink (Mastercard firm). He also established the Blockchain ISO Standard TC307, which is now in use in more than 50 countries.

Paterson and Tasca are both well-known in the blockchain and online technology industries, but the company no longer employs them.

Quant’s Function

Quant is able to easily connect multiple decentralized networks using a technology called the Overledger DLT gateway, irrespective of which distributed ledger technology they utilize (e.g. blockchain, DAG, or another protocol).

Quant’s primary product is the Overledger Enterprise platform, which it endorses as the world’s first DLT business gateway. It serves as a straightforward API gateway to a variety of distributed ledgers. It enables businesses to attach their current infrastructure to the blockchain with ease. The platform includes an easy-to-use REST API. It allows users to interact with a diverse selection of blockchains in a systematic manner.

Quant defines the technology as allowing businesses to generate “multi-DLT smart contracts,” or MAPPs. These are smart contracts that exist on multiple distributed ledgers. They enable decentralized applications (DApps) to take advantage of data and capabilities from numerous platforms to offer features and functions that had been previously unavailable.

Quant also supports bank held multi-ledger tokens (MLTs), which are digital assets tied to real money. MLTs could represent Stablecoins, vouchers, loyalty points, central bank digital currencies, and other items. Quant’s Overledger technology allows their release and utilization across various distributed ledgers. 

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Jacob Yang
Jacob Yang
Jacob Yang works at Cryptoconstellation as a writer. He has been working in finance for the past 6 years. Jacob loves sharing news about the cryptocurrency world and he, himself has invested in a few. Jacob enjoys travelling and finding the best restaurants wherever he goes.

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