What Is Quantis Network (QUAN)

Quantis Network (QUAN) plans to use distributed ledger technology to develop tools that enable individuals to practice their fundamental human rights of privacy and freedom of speech. A distributed ledger is a database that is consensually shared and synchronized across geographies, institutions, multiple sites, and is accessible by multiple people. Since Quantis is decentralized, users earn rewards by supporting the network. Quantis Network aims to establish a privacy-enabled electronic currency system that removes the need for trusted third parties.

As per the whitepaper, privacy is a significant concern for users worldwide. To tackle this problem, Quantis promotes privacy and economic security ideals to the blockchain economy. Quantis network’s privacy features are built straight into the wallet allowing users to communicate and transact using an all-in-one system. In addition, Quantis uses the X11 algorithm (an algorithm for mining cryptocurrency) with a custom blockchain and uses a validator system to provide private transactions.

QUAN is the native coin of the Quantis Network. Since QUAN coins are distributed continuously, the currency is subject to hyperinflation. Hyperinflation is the excessive, rapid, and out-of-control price increase in an economy. Due to hyperinflation, the market becomes saturated with an excessive number of coins and demand isn’t able to keep up compared with the quantity supplied. To tackle this issue, two deflationary (a process to reduce coins) reserve incentives are built into the Quantis Network:

• Staking - Staking is used to validate transactions and secure the system. Individuals are incentivized to set aside coins to earn rewards in transaction fees collected by the network.

• Master node rewards - Master nodes are used to perform particular functions on the network, such as facilitating private transactions. Quantis boosts network validation using master nodes. Individuals operate a master node after storing a sufficient amount of coins as collateral. Master nodes are nodes that verify new blocks of transactions in a cryptocurrency and perform specific roles in the governance of the blockchain.

History of Quantis Network

The founder of Quantis Network is Dick Johnson, and the CFO is MikeDaMan. Quantis Network was launched in 2018. The maximum supply of QUAN coins is 1,100,000,000 QUAN.