What is Quant (QNT)?

Quant (QNT) is a cryptocurrency and the native token of the Overledger network, developed by Quant Network. Overledger is a blockchain operating system that aims to connect different blockchains and allow them to work together, enabling interoperability and facilitating the development of decentralized applications (dApps) that can access multiple blockchains.

Quant Network's vision is to create a seamless internet of trust, where different blockchains and distributed ledger technologies can communicate and share data securely and efficiently. The QNT token plays a vital role in the Overledger ecosystem, serving as a utility token to pay for services on the platform, access various features, and incentivize nodes that provide essential functions within the network.

Who are the founders of Quant Network?

Quant Network was founded by Gilbert Verdian. Gilbert Verdian is a prominent figure in the blockchain and cybersecurity space. He has a background in enterprise architecture, and cybersecurity, and has worked with various government organizations and enterprises on blockchain implementations and security solutions.

He is known for his expertise in blockchain interoperability and has been actively involved in promoting the idea of cross-chain communication to foster blockchain adoption and create a more interconnected and efficient blockchain ecosystem.

What makes Quant Network unique?

Interoperability: Quant (QNT) aims to solve the interoperability problem in the blockchain space by enabling different blockchains to communicate and interact with each other. This ability allows for the seamless integration of multi-chain applications (MApps), decentralized applications (DApps), and smart contracts.

Treaty Contracts: Quant Network employs Treaty Contracts, which work across multiple blockchains, facilitating cross-chain functionality and ensuring smooth interoperability among various blockchain networks.

Utility Token: QNT serves as a utility token, granting users access to applications or services within the Quant ecosystem. It captures the value of all connected blockchains and APIs, and its utility extends to various aspects, including annual license fees, platform fees, transaction fees, and payments in consumption fees, among others.

Small Supply and Deflationary Mechanism: QNT has a limited supply of only 14.6 million tokens, and there will be no new tokens minted. As tokens are locked up through various mechanisms like annual licenses, payment channels, and gateway staking, the circulating supply of QNT decreases over time, leading to deflationary pressures. This reduction in supply, combined with potential increased demand, can influence price increases.

Explain the network security of Quant Network.

Quant Network places a strong emphasis on network security. The platform uses advanced cryptographic techniques to protect sensitive information and ensure the security of its users. Additionally, Quant Network's Overledger technology provides interoperability across blockchains, which can help to reduce the risk of security breaches by enabling secure communication between different networks.

Quant tokens, or QNT, primarily function as digital access keys to specific services or applications (MApps) on the Quant platform for both users and developers. Access fees depend on the number of tokens and a fixed fiat currency amount. The use of QNT tokens for access to services and applications on the platform can help to ensure that only authorized users have access to sensitive information, further enhancing the security of the network.

What are the recent developments of Quant Network?

Project Rosalind, led by the Bank for International Settlements (BIS) and the Bank of England, aimed to explore how application programming interfaces (APIs) could be utilized for central bank digital currency (CBDC) systems. The project, directed by the BIS Innovation Hub London Centre, focused on testing how APIs could facilitate retail payments in CBDCs and support innovative use cases.

Quant, a pioneer in blockchain for finance, was part of the vendor team for Project Rosalind. They contributed to the project by designing and developing API functionalities to enable innovation and programmability in CBDCs. Quant provided the underlying infrastructure and blockchain platform, secure smart contracts, and interoperability of central bank ledgers. They collaborated with UST, a leading digital transformation company, with UST building the frontend Rosalind API layer.

The project's key outcomes were demonstrating that APIs could play a crucial role in enhancing CBDC systems' payment functionality and security. Additionally, Project Rosalind explored various use cases to understand how CBDCs could support a more digitalized economy in the future.

Gilbert Verdian, Founder and CEO of Quant, emphasized that CBDCs enable automation of payments and processes, offering new opportunities for commercial banks and financial institutions to create innovative products and differentiate themselves from competitors.

The BIS Innovation Hub London Centre is one of six international nodes established by the BIS to develop public goods in the technology space, supporting central banks and improving the functioning of the financial system.

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