Quant (QNT) is a blockchain project that aims to solve the issue of interoperability between different blockchains. In short, it allows different blockchains to communicate with each other in a secure and transparent way, without necessarily changing the code of each blockchain.
It is based on two main key components:
- Overledger: the operating system that acts as middleware between the different blockchains. It is also the world's first API gateway for major blockchains.
- QNT: the native token of the Quant platform, used to pay for transactions and access the platform's services.
Curiosity
Quant Network was founded in 2015 and has prominent elements, including co-founder Colin Paterson, a cybersecurity expert who previously held roles at Deutsche Bank, Vocalink and Mastercard.
Also worth mentioning is Stephen Pandit, former CEO of Citigroup and current member of the board of directors of Quant.
Quant Network is used by a variety of companies and organizations to improve interoperability between their blockchains, as anticipated.
Here are some examples:
- Oracle: global leader in software systems and databases, uses Quant Network to integrate its blockchain with others, such as Ethereum and Bitcoin
- SIA: leading Italian company in ICT services and solutions for public administration and businesses
- Bank of Italy: central bank of the Italian Republic, collaborates with Quant to explore the use of blockchain technology for cross-border payments
- Chainlink: decentralized platform that provides real data to blockchains, uses Quant to connect its oracles to different blockchains.
- Numerous other companies, developers, financial institutions and various governments are already using Quant.
During 2024/2025 there will be various updates to integrate new blockchains, develop new tools to facilitate the development of dApps, the launch of the Quant marketplace (expected in 2024, still lacking official status) and the relaunch of Overledger 2.0 in an updated version with new features and improvements.
Additionally, Quant is awaiting approval for its crypto service provider (VASP) license from the UK Financial Conduct Authority (FCA).
The potential is incredible, as is the project and future updates that will make it even better, thus opening up new use cases and greater adoption by companies and developers
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