Quant (QNT) is the future-oriented blockchain. It was created to solve the problem of interoperability of blockchains by providing an additional layer that connects multiple blockchains. Quant’s main purpose is not only to connect blockchains with each other, but also to connect existing networks to the blockchain and facilitate the creation of multi-chain applications (aka mApps) that can run on multiple blockchain platforms. different.
Quant will take care of connecting blockchains using a new technology to design, deploy and execute decentralized applications that can run on various blockchain platforms. This technology is called Overledger.
QNT is the main cryptocurrency of the platform, used to provide users access to the Quant Overledger platform for both developers and users of various mApps. It is also used in the transaction fees section, where developers can choose to create applications for free but have the ability to propose transaction fees for each application. Easier to understand, QNT is Quant’s token.
What does QNT solve?
One limitation of current blockchain platforms is that it cannot connect and interact with Quant; Quant’s Overledger technology solves this problem. Overledger provides data and application compatibility across all current and future chains without being limited by any technology or method, unlocking its true potential. In other words, Overledger creates a super portal for existing networks to connect to blockchains and vice versa. Quant is focusing on the following four main themes:
Individual: Create trust between people, machines and machines to ensure safe and confidential transactions. Provide individuals with an unprecedented level of access and control over their personal information.
Enterprise: Empower businesses with flexibility in connecting their networks to blockchains without the burden of being “stuck” in existing technology or vendors. By enabling cross-chain interoperability, Overledger enables businesses to access new markets, increase resilience, and reduce investment risk.
Goverment: Provide solutions for Governments to reduce bureaucracy but enhance transparency, cooperation between Governments and corporate advertising citizens. Create opportunities for cooperation between the public and private sectors.
Health care: Increase the security, privacy, and interoperability of health data. Revolutionize the global health information exchange (HIE) by making electronic medical records more efficient and safer for the benefit of each patient as well as the scientific, healthcare community.
Quant is focusing on three goals:
- Develop interfaces to connect global networks with multiple blockchains.
- Connect existing networks (e.g. financial services) to new blockchains.
- Develop a new blockchain operating system with protocols and platforms to enable developers to create next-generation multi-chain applications with ease.
How does Overledger work?
The removal of communication barriers between blockchains, and supporting the use of MApps as dApps run on different ledgers, prompted the Overledger team to design an architecture that supports both interoperability and Ability of extension. The architecture in question is actually inspired by the TCP/IP models used with communication networks. The developers decided that organizing it based on classes that performed individual tasks was the best way to achieve the platform’s goals, leaving Overledger with the following components:
Transaction class: This class handles the storage of transactions using ledger technology. This is the gathering place of all the activities required to reach consensus in several blockchain domains. This process is made simpler by placing all related operations in a single class. However, the scope of transactions performed on a particular blockchain is limited to that domain. This means that they cannot be implemented in other ledgers either. This is why this layer is made up of diverse and segregated ledgers.
correspondence class: This logic layer handles all the information from the ledgers that are considered relevant. The types of information involved include smart contract data, metadata, and transaction data. When it comes to metadata, the added strings often represent messages off-chain, which can be interpreted as a payload. This class is also used to store all transaction information and message notifications between multiple applications.
Filter Layer and Sort Layer: This class also handles messages, especially those that are extracted and include transaction information. Messages referenced in a transaction via a hash are exchanged off-chain through sorting and filtering. In addition, this class is responsible for establishing a connection between messages derived from the Message Layer. This class also validates out-of-chain messages for metadata. The validator checks the application requests that can be specified on the transaction data. For example, an application in question could be set to only accept transactions related to a specific address, or it might need to be paid for in tokens in order to be transferred. Based on the filter implemented on this layer, applications can only account for messages related to the transfer of a predetermined amount of tokens to a specific address.
Application class: Messages are considered valid based on the requested format and the signature may update the application state associated with them. Different applications can share identical messages or create references to messages related to other applications. These references use a unique hash hint to refer to ledger transactions with messages. These hints basically refer to the storage location of a particular cryptographic hash function. They also act as identifiers that can be used to select a transaction from the database and confirm its immutable state.
What is QNT token used for?
Developers use QNT tokens to:
- Pay a licensing fee to develop your app on Overledger.
- Pay maintenance when the application runs on Overledger.
- Pay for services and add-ons.
- Developers can also earn QNT tokens through their apps.
Businesses use QNT to:
- Pay a license fee to develop apps on Overledger.
- Payment platform.
- Pay maintenance fees and other costs when using other utilities.
- Users can use QNT to use mApps inside Overledger.
Gilbert Verdian (CEO): He has worked for 20 years in the field of Cybersecurity at CIO / CTO / CISO levels in the Financial Services, Government, Consulting and Industry sectors of the UK Government, Ministry of Health, Ministry of Justice. Gilbert is also the founder of the blockchain standard ISO Standard TC307 – a standard that 40 countries are currently working to develop together.
Colin Patterson (CTO): He is a technology innovator with 20 years of experience in cybersecurity and AI. Working in financial services, government and technology at Deutsche Bank.
Paolo Tasca (CSO): He is the head of the world’s largest blockchain center at UCL – the center of blockchain technology and a digital economist with an economic background at Central Banks in the United Kingdom.
QNT is a crypto with many special and unique features, it promises a promising future and is an investment option for crypto lovers. The QNT virtual currency is a really uncommon coin, so it is only listed on a few exchanges. And of course, in the near future, there will be more exchanges that support QNT.
You can see QNT prices here.
According to AZCoin News
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