The Quant Network is an enterprise-focused network that uses its proprietary Overledger to connect businesses to different Distributed Ledger Technologies (DLTs) through its API. DLTs include, of course, blockchain – and the myriad of currencies built using the technology. However, it also includes other DLTs like a Direct Acrylic Graph (DAG), the technology which powers the gloriously named NANO currency, andTempo – a new consensus mechanism still in its infancy.
The varied DLTs and the enormous inroads and upscaling that blockchain technologies provide is threatening to leave some businesses behind. Enterprises who quickly latch their systems onto the emergent capabilities of the blockchain will become market leaders in their sector as the years go by. However, connecting old systems into new technological paradigms is not an easy task, and this is what the Quant Network hopes to solve.
What Does The Quant Network Do?
The Quant Network claims to have “solved DLT interoperability”. Through its Overledger tech, businesses will be able to have easy connectivity inroads into the data stored on the blockchain without having to utilize it themselves. It provides a secure, simple and cost-effective API connection to all DLTs. As the API is a single standard, enterprises can utilize DLT actions through it comfortably.
Effectively, the Quant Network manages its own set of private nodes across a range of popular blockchains, DAGs and Tempo architectures to provide blockchain-based services like payments to its customers without the customer having to overhaul their current system. It also gives a chance for developers with no knowledge of DLTs to build systems on the blockchain, with Overledger handling all the complexity of smart contract languages, data structures and so on and so forth.
Quant – the First Blockchain OS
Think of it as an operating system for all blockchains. The Quant Network aims to create an easy-to-use layer for every business to be able to run on the underlying “code” of multiple, distributed DLT systems. Most excitingly, the opportunity is to build decentralized multi-chain applications (known as MApps) for their user base, which could – if the API remains solidly integrated to the evolving blockchain space – give rise to impressive supra-apps that everyday retail and business users can take advantage of. Naturally, this does mean the QNT network will act as a go-between for customers and the blockchain, with the trade off being the interoperability between each different DLT.
What is the QNT Token?
The QNT token is the backbone of the quant network. It is primarily used to access the Quant Overledger DLT port. For example, to enjoy the benefits of the interoperability of the Quant Network, users must pay in QNT. The same is true for all other features of the network, including Gateways, Platform Fees, and Add-On Services. Developers using Quant to build their own MApps must also pay in QNT. The tokens act as a license key to access the ecosystem or execute applications within it. It’s an ERC-20 token built on the Ethereum network.
Business on the Blockchain
The Quant Network is certainly focused on Enterprise-based solutions. They know firsthand how difficult it can be to onboard businesses onto the potential of the blockchain. By giving a clean, usable API and access to its own set of nodes on various blockchains, DAGs and other DLTs, it hopes to make that switch easier for businesses who want to incorporate blockchain applications into their services, whilst also giving a level of interoperability across DLTs so that businesses can worry about what they are providing rather than worrying how exactly they are providing it.
Is QNT Hard to Get?
Getting cryptocurrencies, whether by purchasing or trading, can be a daunting prospect for beginners. This is particularly true for any cryptocurrency that isn’t Bitcoin or Ethereum – with Ethereum tokens, also known as ERC-20 tokens, such as QNT being a prime example.
If you are thinking about getting QNT then Numio is a great choice for handling your assets. Numio allows you to pay people using your stored QNT assets, as easily as if it were cash. If you are a bit more crypto savvy you can also trade and swap QNT at the touch of a button.
Download Numio to get Quant Network
How can I get QNT?
Getting QNT is easy on Numio. You can use your credit or debit card to purchase ETH or USDC, which can then be exchanged for QNT*, you can swap or trade it for other ERC-20 tokens (up to 100x cheaper than other wallets), and you can send or receive it as a payment. Whatever way you choose you can be sure that you are always in full control of your QNT.
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