The traditional internet architecture’s goal of building an open, stable, and secure network is still a dream. But, the internet can now realize its promise as a decentralized network of networks with distributed ledger technologies (DLTs) like blockchain and their widespread uses in many sectors, including finance, healthcare, and other industries. By utilizing the Overledger DLT operating system, Quant Network (QNT crypto) seeks to resolve the interoperability problems with blockchain.
What is QNT Crypto? Everything About Quant Network – 2023
Organizations are currently using several blockchain networks, many of which were created using various coding languages and software development kits. It can be hard to connect to and transmit data between different systems due to technical differences between them. However, via its blockchain gateway, Overledger, Quant attempts to overcome this difficulty.
An Application Programming Interface (API) gateway that links blockchains together, Overledger is not a blockchain in and of itself. Organizations can efficiently communicate information with other networks thanks to Overledger.
What is QNT Crypto?
The native cryptocurrency of the Quant network is the QNT crypto. An ERC-20 token is QNT. It may, however, effortlessly transition to any other blockchain because it is blockchain independent. QNT is a utility token that aims to provide consumers with online access to an application or service, and it is governed by the Swiss Financial Market Supervisory Authority (FINMA).
In order to build on the Overledger platform, developers need QNT tokens. However, developers pay for licenses to use Quant Network‘s services with fiat money, which is subsequently converted to QNT cryptocurrency by the Quant Treasury. This suggests that companies don’t need to engage with exchanges directly in order to make compliant purchases.
mApps and Overledger
The Overledger Network and Overledger OS are the two components of the Quant network. Users can construct and access multi-chain apps (mApps) using the patented technology known as the Overledger OS, which is not open source. MApps rely on treaty contracts, which let users create applications on various blockchains, as opposed to smart contracts, as other DeFi apps do. A specific mApp’s features should represent the blockchains it is based on, not the Overledger OS, which is also crucial.
Developers and businesses that use the Quant Network make up the Overledger Network. They pay a yearly licensing fee to use the technology here. On the Overledger Network Marketplace, users may also sell the mApps and data they have produced.
Multi-ledger Tokens
Multi-ledger tokens (MLTs), which are digital assets backed by fiat funds kept in escrow with a financial institution, are also supported by Quant. These MLTs support marketplaces, closed-loop payments, central banks, banks, fintech, and platforms for micropayments. MLTs can be used for quick and transparent cross-border bank transfers as well as stablecoins, vouchers, rewards points, and eMoney.
History of QNT Crypto
Gilbert Verdian established Quant Network for the first time in 2015. In April 2018, the protocol was successful in raising over $11 million during an ICO. After joining Quant as co-founders in 2017, Colin Paterson and Paolo Tasca served as Chief Technical Officer and Chief Strategist, respectively. Paolo Tasca later took on several different roles before working as a Quant advisor.
Tokenomics
14,612,493 QNT tokens total, which is the maximum supply. Following was the distribution of the QNT tokens:
- During the ICO, 9.9 million QNT coins were sold to the general public.
- To keep the project going, 2.6 million QNT coins were allocated to the firm reserve.
- The company’s founders received 1.3 million QNT tokens as a reserve.
- 651,000 QNT were given to the firm advisers.
The token’s current circulating supply is 12,072,738 QNT. The firm is the owner of the additional 2 million tokens. These tokens can be sold or issued at any moment because they are unlocked. In addition, at the time of writing, QNT crypto is trading at $124.83.
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