In this post, we’ll unpack all you need to know about Quant, defining exactly what it is, how it works, its main features, real world applications and more.
What is Quant?
Quant (QNT) is a network that connects multiple blockchains together through its operating system Overledger. More simply, it is the network of networks.
How Does Quant Work?
Quant operates by using a network of nodes to connect different blockchains together. These nodes, referred to as Overledger nodes, are responsible for relaying messages between different blockchains. This allows for the transfer of information across different networks while retaining the inherent properties of the underlying blockchains.
The network’s native cryptocurrency token is QNT which is necessary to pay for fees when using the network.
What Are The Main Features?
The main features of Quant include:
- Blockchain Interoperability: Quant’s Overledger enables interoperability between different blockchains, allowing them to interact and operate together.
- Security: Quant uses many security measures to protect its network, including elliptic curve cryptography and multi-signature wallets.
- Scalability: Quant’s Overledger helps to solve the scalability issues faced by many individual blockchains by allowing multiple blockchains to work together.
- Multichain Applications (MApps): These are applications that use multiple blockchains simultaneously, enabling new possibilities for decentralized applications.
- Quant (QNT): Quant has a native cryptocurrency token QNT which is necessary to pay for fees when using the network and making transactions.
The Real World Applications
Real-world applications for Quant include:
- Financial Services: QNT allows governments, banks and other public and private financial institutions to connect their systems and streamline their operations.
- Cross-Chain DeFi: QNT allows decentralized finance applications to interact across different blockchains, increasing liquidity and unlocking new possibilities.
- Supply Chain Management: QNT allows for the creation of a single, secure, transparent and immutable record of a product’s journey across multiple blockchains.
- Healthcare: QNT allows for securely sharing patient data across different healthcare platforms while maintaining data integrity and patient privacy.
Summary (TL;DR)
Quant is a network that facilitates interoperability between different blockchains through its operating system Overledger.
Quant’s main features are blockchain interoperability, security, scalability, multichain applications and finally its own native currency.
Real-world applications include the ability for financial institutions to connect their systems, the ability for decentralized finance applications to interact across different blockchains, the ability to record a product’s journey across multiple blockchains and the ability to share patient data across different healthcare platforms.
