Most recent update: [June 26, 2023]
What is Quant (QNT)?
QNT is the native token of the Quant Network, a technology that helps automate trust between
multiple blockchains and uses the Overledger operating system. The core concept is to help
multiple networks scale up by ensuring seamless interoperability.
How Does Quant Work?
At the heart of the Quant Network lies the Overledger OS. Its main purpose to help empower
developers to build decentralized multi-chain applications (known as MApps) by removing
communication barriers between blockchains. The QNT tokens are used to pay platform fees
and annual licenses. The different layers in the Quant Network are as follows:
- Transaction Layer: This layer is responsible for storing transactions using ledger
technology. This will be the common layer of settlement for all the transactions being
covered in the network.
- Messaging Layer: The main purpose of this layer is to tackle all the relevant info from the
connected ledgers. It’s used for storing transaction information.
- Filtering Layer: This layer handles all the messages referenced in the transaction via a
hash. This layer validates out-of-chain messages for the metadata.
- Application Layer: This is the interoperability layer between different applications.
History Of Quant
The lack of interoperability has been a significant roadblock on blockchain scalability. Usually,
each blockchain network is on a siloed island of its own. Without interoperability, it will be
impossible for Alice in blockchain A to interact with Bob on blockchain B. In June 2018, Quant
was launched to connect blockchains without reducing network efficiency.
Founders of Quant
- Gilbert Veridian is the CEO of Quant and a well-known pioneer in the world of DLT and
cybersecurity. He is an ex-CISO/CIO/CTO from Gov & FS with 20 years of experience.
- Peter Marirosans is the CTO of Quant. Before Quant, Marirosans was the Director of IT
at Online Direct Limited and Senior Developer at Total Gas & Power.
- Lara Verdian is the COO of Quant. Verdian was previously the director at Deloitte
Access Economics.
Unique Features Of Quant
It is interesting to note that Quant’s Overledger is exactly a blockchain but a blockchain
Operating System. It runs on top of these blockchains to provide scalable interoperability.
The core problem they are solving is twofold:
- How to connect blockchains that are using different consensus mechanisms?
- How to connect different distributed ledger techs like blockchain, DAG, etc.
The core principle is to future-proof the entire system.
How Is Quant Secured?
Quant’s architectural inspiration is taken from the original TCP/IP protocol. As mentioned above,
it does this by isolating the different layers. The layers itself doesn’t focus on which blockchain or which consensus method is being used. The layers are only interested in the data within the
same layer. Quant is platform-agnostic.
Supply Model
There is a total of 14,612,493 QNT tokens, of which almost 88% (12,072,738 QNT) have been
mined out. The QNT token is regulated by FINMA (Swiss Financial Market Supervisory
Authority) as a utility token.
Risks Associated With Quant
Price Volatility: Quant’s price is notorious for its volatility. Thanks to this volatility, Quant’s value can be pretty unpredictable, and investors should always be prepared for a cycle of volatility when investing in Quant.
Quant faces incredible competition from the likes of Polkadot and Cosmos, who are also looking
to create the “internet of blockchains.” It will be interesting to see how their project pans out in
the future.
Due Diligence
Prior to listing Quant on the VirgoCX Platform, VirgoCX performed due diligence on Quant and determined that Quant is unlikely to be a security or derivative under Canadian securities legislation. VirgoCX’s analysis including reviewing publicly available information on the following:
- The creation, governance, and location of Quant and/or its primary development team;
- The supply, demand, maturity and liquidity of Quant; and
- Legal and regulatory risks associated with Quant.
Statutory Rights under Securities Legislation
VirgoCX is offering Crypto Contracts on crypto assets in reliance on a prospectus exemption contained in the exemptive relief decision Re VirgoCX Inc. dated May 30, 2022 (the Decision). Please be aware that the statutory rights in section 130.1 of the Securities Act (Ontario), and, if applicable, similar statutory rights under the securities legislation of each other province and territory in Canada, do not apply in respect of the Crypto Fact Sheet to the extent a Crypto Contract is distributed under the prospectus relief in the Decision.
References
https://whitepaper.io/document/420/quant-whitepaper
https://twitter.com/cryptoseq/status/1312298738891841537
https://cryptonews.com/coins/quant/
https://finance.yahoo.com/news/why-quant-qnt-crypto-moving-200917763.html
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