What Is Quant (QNT)?

Quant is a platform that provides technology that connects various distributed ledgers (DLTs) by removing communication barriers between them. A DLT is a database that is synchronized and accessible by various participants across multiple sites and regions. The deployment of a distributed ledger eliminates the need for a central authority to keep a manipulation check. Blockchain is an example of a DLT. The platform aims to bridge all the DLTs for faster and efficient growth.

The problem that the Quant platform is trying to solve is the limited adoption of the distributed ledger because of the technical complexity of maintaining it. The second major problem the platform is trying to solve is that users do not have a technological way to move their data across various DLTs and see which DLT is appropriate for them. Quant aims to solve these issues by building an interoperable system that can connect various DLTs securely and efficiently without introducing any bottlenecks.

As stated on the website, Quant's solution to the problems mentioned above is its Overledger DLT Gateway. Overledger enables DLT integration without the requirement for additional infrastructure. Through the Overledger DLT Gateway, users have the capacity to operate various types of DLTs and migrate data between them. Any data like smart contracts, IDs (identity documents), or digital assets (like crypto coins and non-fungible tokens) can be exchanged by users across various ledgers. Overledger enables users to select the technology that suits their needs. Overledger also provides business solutions for those who require multi-chain strategies. 

Additionally, developers can also develop mDApps with the help of the Overledger technology of Quant. mDApps are the multi-DLT edition of decentralized applications (DApps, which can only interact with a single ledger). mDApps extend the reach of decentralized applications beyond interaction with a single ledger, allowing users to benefit from the use of several ledgers simultaneously. Quant's Overledger DLT also allows smart contracts to be created in any programming language on any DLT, even on those DLTs that don't support smart contracts natively. 

The native token of the platform is the Quant token (QNT), an ERC-20 token hosted on the ETH (Ethereum) blockchain. There are three prominent use cases for QNT. The first purpose of QNT tokens is to grant digital access to a particular service or application (MApp) that is part of the Quant platform. Both users and developers have access to the system. Overledger gateway operators also utilize QNT to pay annual license fees to use and participate in the Overledger network. Finally, Overledger gateway operators that act as directors of transactional flow/traffic within the Overledger network are paid Quant tokens via Quant's treasury system.

History of Quant (QNT)

Quant's technology is the brainchild of founder Gilbert Verdian. He first realized the potential of DLTs, including blockchains, in solving the security-related problems inherent in the digital exchange of information and assets. Besides this, he has worked at HM Treasury in the UK government (2009) and later as CISO for the Department of Health in Australia. The other core team members of the platforms are CTO Peter Marirosans, COO Lara Verdian, and CMO Andrew Carrier.

How Are New QNT Tokens Created & Earned?

As mentioned in the business paper of Quant, QNT tokens were issued through a token generation event (TGE), or crowd sale. The overall supply of QNT is capped by the number of tokens produced during the crowd sale period. After the TGE (which ended on April 30, 2018), the platform did not create any more QNT tokens.

The platform aims to launch staking in the future, but it doesn’t support it as of now.

How Many QNT Tokens Are There?

The total supply of QNT tokens is 14,612,493.

How to Purchase QNT Tokens

The QNT token is available on Coinbase. Coinbase is an easy-to-use and beginner-friendly platform for trading, storing, and converting QNT.