He came up with the idea for a system that allows for interoperability between multiple blockchains while working in the healthcare sector. The Quant Network company was founded by Gilbert Verdian in 2015. These tokens are locked in the Treasury for the duration of the license.įinally, the QNT coin is an ERC-20 tokenthat is used to access the Overledger platform in the Quant Network ecosystem.Īn overview of the Overledger Network. The Treasury takes a small fee that goes to the Quant Network.Įnterprises use the Treasury to pay in fiat for licenses which are then used to buy QNT tokens. Transactions on this marketplace are executed through the Treasury, smart contracts built on Ethereum. The Overledger Network Marketplace lets people buy and sell mApps and their data. For instance, you can use Solana for its speed and Bitcoin for its privacy capabilities. For example, a mApp built on Ethereum would only be able to run 15 transactions per second, while a mApp built on Solanawould be able to run 65,000 transactions per second.ĭifferent features of different blockchains can be used to run these mApps. How fast these mApps run depends on which blockchain was used to build them. These are different from dApps, which are built on a single blockchain (mostly Ethereum).Ī mApp is composed of Treaty Contracts, programs that run multiple smart contracts on different blockchains.
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Buying this license lets users create mApps on the OS. Users have to pay an annual licensing fee.
This technology allows an app to support a large number of users without crashing by automatically fixing any error it encounters. It is unclear how exactly the Overledger OS works, but it is based on Google’s open-source Kubernetes technology. It is “hyper-decentralized,” meaning it runs and stores data on multiple blockchains instead of just one. It is an interoperable blockchain OS that lets its users access multiple chains simultaneously. The Overledger OS is the heart of the ecosystem. The Quant Network is an ecosystem that contains the following elements: What we do know is that it is not a blockchain. This is because it is not an open-source project. The details of how the Quant Network works haven’t been released to the public. Quant is also used to encrypt and sign transactions and transfer digital assets between different chains. To access the Overledger OS, users and developers both have to buy the native token Quant (QNT). These mApps are able to run on multiple chains simultaneously because they require different features from different networks. People can also use Quant to create multi-chain apps, also known as mApps.
The Quant Network also allows people to create smart contracts in blockchains that don’t even support them (like Bitcoin). This is because the infrastructure required to run them is already there. These networks are connected through a single API, which means developers can have access to these DLTs in a very short amount of time. It does not require any additional blockchain, and this is what makes the process smooth and seamless. The Overledger OS doesn’t just connect blockchains, but many types of DLT, database, CRM system, and more. However, it is a closed-source project that requires a license to be used.Īt the moment, the Quant platform supports Bitcoin, Ethereum, Ripple, Stellar, EOS, IOTA, Constellation, JP Morgan’s Quorum blockchain, and the Hyperledger Fabric blockchain. The Quant Network is a simple and secure platform that makes interoperability convenient by connecting any network to any DLT in the world.
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It uses its Overledger OS, an operating system that enables applications to work across different blockchains, which allows for seamless communication between multiple networks.ĭistributed Ledger Technology (DLT) is used in almost every industry today for different reasons, but because it is a complicated technology that doesn’t integrate with different generations of systems, it can’t reach its full potential. Quant Network was created to combat this and facilitate interoperability between blockchains. Most blockchains also have different ecosystems that address different problems. The Quant Network’s token Quant (QNT) trades at $80.15 per token with a circulating supply of 12 million QNT, for a total market cap of $969 million.ĭifferent blockchains have different functions, and there is no one-size-fits-all solution. The Quant Network was launched in 2018 with the goal to connect blockchainsand other existing networks all across the world.
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