Hello and welcome to this short tutorial on Quant Network for Beginners. If you have any questions or comments, please leave them in the comments section. In a case you want to learn more about Quant, consider taking a deep dive into the links present at the end of this article.
What is Quant Network?
Quant Network is a UK company, based in London, which developed the world’s first blockchain operating system known as Overledger. This system inter-connects blockchains and existing networks, facilitating the creation of internet-scale multi-chain applications.
But “why do we need to connect blockchains?” you may ask. Well, imagine a world where your local bank has adopted the Ethereum Blockchain to run all their transactions and make them faster and cheaper. However, your other bank has adopted a different blockchain for internal transactions. By utilizing different blockchains, it means that they cant “talk” with each other and this is where Quant’s proprietary technology comes in. The ability to easily connect blockchains is what makes Overledger OS a game-changer. This operating system gives the bank or financial institution the ability to connect to multiple blockchains and use them as they wish.
But “why can’t the banks just copy the technology or develop it in the house?”, for a simple reason: Overledger technology is Patented what makes it literally bulletproof in the financial world. Plus, why waste time and resources in developing an alternative if the solution is already developed and tested by many enterprises and banks.
MAPPS
The ability to connect multiple blockchains in a fast and easy way creates the ability to the development of a new type of applications (MAPP). This new version of applications like Facebook, YouTube, and others we normally use on our mobile phones and computers is a game-changer for the industry. A MAPP built on Overledger has the ability to connect to dozens of blockchains at the same time. This gives the developers the ability to use, for example, the EOS blockchain for speed and the Ethereum blockchain for security for the MAPP they are building. The potential here is limitless since Overledger provides developers not the ability to decentralize the app in on blockchain but the ability to decentralize the apps in multiples blockchains creating the most decentralized applications ever.
This is why more than 300 MAPPS are being built and tested by enterprise and community developers.
TEAM
Quant currently has offices in the UK, Switzerland, Australia, Armenia (Research Lab) and soon to be opening one in New York to meet client demand.
The company is founded and led by Gilbert Verdian , a technologist with over 20 years of industry experience working in the enterprise, finance, government, and financial entities such as HSBC and Mastercard, giving the project the necessary connections within business and finance to succeed. The team is currently doubling in size so you can find the other team members on Linkedin.
Plus, In 2019, Guy Dietrich, Managing Director of Rockefeller Capital (yes, that Rockefeller) joined the board of Quant Network, supporting the company’s ongoing expansion in the US.
Token Utility
The QNT token is regulated by the Swiss Financial Market Supervisory Authority (FINMA) as a utility token, which is intended to provide digital access to an application or service. Access to the Overledger Operating System is only possible through the use of QNT and the platform is useless without it. Since QNT is integral to its Overledger platform, the demand will increase as usage through the system increases.
Quant Network implemented a Treasury mechanism that buys the necessary QNT tokens from the open market (exchanges) and locks them up in order for the clients to use Overledger.
The token (QNT):
Current Price: $5 / Market Cap: $60,660,860 / Circulating Supply: 12,072,738 QNT / Total supply: 14,612,493 QNT
Quant Network implemented a Treasury mechanism that buys the necessary QNT tokens from the open market (exchanges) and locks them up in order for the clients to use Overledger. This feature allied with the low total supply of QNT may result in a increase in the utility token price as time progresses and more clients and institutions buy licenses to use Overledger.
Apart of the treasury fees there are also others fees that will impact the demand for the token like platform fees and consumption fees.
All the many purposes of the utility token can be found here:
https://www.overledger.network/wp-content/uploads/2019/09/The_Overledger_Network_v0.3.pdf
Partners and Adoption
This is what mass adoption looks like!
Quant Network currently has a business development pipeline of 300 clients consisting of financial institutions, central banks, government health services, and other enterprise-level organizations and established partnerships with many large and leading organizations within technology.
Accustomed to fake or misleading information, many crypto community investors disregard many of the Quant announcements as being “too good to be true.” You can find all the confirmed partnerships below:
https://www.publish0x.com/wordstock/list-of-quant-network-qnt-partnerships-2020-xnmjyr
As well as yet to be disclosed financial institutions, they have an ongoing project with European ICT giant, SIA which is probably the largest most significant finance related partnership ever landed by a cryptocurrency project. Integrating Overledger and QNT into the core of global financial infrastructure (more here). What most crypto investors don’t comprehend is that if The Human Body was the European Banking System, SIA would be the veins that carry the blood between all the organs. SIA has around 580 banks in their network and processes inter banking transactions between all of them.
EXCHANGES
Currently, the only reputable exchanges where you can find QNT are IDEX, Bittrex Global, Bithumb and CoinMetro. For a more easy experience the recommended exchange will always be Bittrex since it’s the oldest and never been hacked before. Of course you might consider storing your QNT tokens out of a exchange after you acquire them.
According to a AMA that the CEO did on Telegram, some of Quant’s institutional partners don’t feel comfortable with Quant paying to get the utility token listed on non regulated exchanges. Therefore only a few alternatives remain like for example: Kraken, Bitstamp or Coinbase. According to a publication made on Quant Network reddit by the CEO, the team is pursuing a listing on these exchanges and also traditional exchanges that will start to accept crypto assets for their institutional clients this year. A tier 1 exchange is essential for the growth of the Overledger ecosystem since clients will have to start paying fees to access it by the end of Q2 2020.
FUTURE DEVELOPMENTS
In Q2 2020, there are a lot of milestones for Quant Network to achieve. According to the roadmap, Overledger will pass from the Testnet to the Mainet version. This means that all the clients will have to start paying for the licenses to use Overledger (OVN) with fiat currencies that later are converted to QNT and locked up for the length of the license period. Also getaways (similar to master nodes) will be launched where you can stake QNT to help process transactions through the network. All of this will be demonstrated on the Overledger dashboard. There are also hints about a SIA update, exchanges listings and of course new institutional clients announcements.
POTENTIAL ROI
As of today, April of 2020, Quant Network utility token, QNT, has a valuation of around 5$ and a market cap of 60M$ according to Coinmarketcap with All Time High at around 14$ (when the SIA partnership was announced). According to a Forbes article QUANT did 10M in revenue last year and if everything goes according to plan they will surpass that value this year. In the coming months the business developments like getaways, treasury and dashboard that Quant has in the pipeline can bring the value of the utility token to new highs as partnerships, exchanges and other other clients are also announced. Considering the global state of adoption of blockchain technology and crypto in general we can attest that Quant Network is on the forefront of this space and is prime to be one of the companies that gets more adoption and recognition outside of the cryptocurrency niche world.
HOW TO BUY QUANT (QNT)?
First you need to create an account in a reputable exchange such as Coinbase or Bitpanda in order to buy some bitcoin (BTC) or ethereum (ETH) with fiat currencies (USD,EUR).
After creating your account and validating it you need to make a deposit or transfer from your bank to the exchange you chose (Bitpanda or Coinbase). After the fiat currency is confirmed in the exchange account you can now buy ethereum or bitcoin easily by trading it. Currently, Quant Network token (QNT) is not available to purchase on Coinbase or Bitpanda yet, so you will have to transfer the bitcoin or ethereum you bought to the other exchanges mentioned above (IDEX or Bittrex).
If you opt to buy ETH you must transfer it to IDEX to buy QNT. If you buy BTC you must transfer it to BITTREX to buy QNT. Bare in mind that you need a MEW (myetherwallet) in order to buy from IDEX. After acquiring your QNT tokens please make sure you store them in somewhere safe like for example in cold storage (trezor or ledger) so you never have to worry about being hacked.
Thank you for reading this short summary of Quant Network and let me know what you think in the comments.
For a more detailed deep dive into the Quant world please visit the links below:
Offical TG: QuantOverledger
Quant AMA’s
March 13th — https://drive.google.com/file/d/1lBw1RDdRF2houxSWV2vOrmWazKeF1ZOm/view
March 27th — https://drive.google.com/file/d/18X86SFFCnLjtAY3V4Xuii4_sOLbXaa8o/view
Seq’s Quant Overledger Series — The #1 Primer for Quant Overledger
Part One — Blockchain Fundamentals
Part Two — The Layers Of Overledger
Part Three — TrustTag and the Tokenisation of data
Part Four — Features Overledger provides to MAPPs
Part Five — Creating the Standards for Interoperability
Part Six — The Team behind Overledger and Partners
Part Seven — The QNT Token
Part Eight — Enabling Enterprise Mass Adoption
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