Introducing Quant (QNT) — The next generation of decentralized connected economies
If you look closely, you will realize that there is a big gap between the centralized systems of today and the decentralized systems of the future. Both centralized and decentralized part of the internet operate in a completely separate manner from each other and this is one of the big hurdles in the mass adoption of crypto and blockchain based products. The centralized internet is only used in the crypto and blockchain ecosystem to relay messages through different kinds of protocols (e.g. bitcoin and ethereum use Gossip protocol to relay messages for transactions).
This problem of a huge gap between both the centralized and decentralized system is called ‘interoperability problem’. This problem of the lack of interoperability also exists within the blockchain ecosystem, e.g bitcoin network isn’t able to talk to the ethereum network, and the ethereum network cannot talk with the bitcoin network. This lack of communication between the blockchain themselves limits their usability, and puts the entire burden on the user to hold and use two different currencies at the same time.
According to Coin Market Cap, there are more than 3,000 cryptocurrencies in the world, but they have different use cases and entirely different implementations. It is not possible for the consumers to use and hold all the cryptocurrencies available today. The best thing that the consumers can do right now is to either hold and use the popular cryptocurrencies, or swap them with another digital asset from an exchange where they would have to give away the transaction fee, conversion fee, and they might have to wait for a few hours for the swap transaction to settle.
Introducing Quant — bringing the interoperability to the masses
Quant is developing a blockchain platform that would act as a universal interface to do the following core things:
- Connect multiple blockchain networks together where they can freely communicate and exchange data.
- Connecting the traditional centralized systems to blockchains via a common interface or an API.
- Creating a blockchain operating system so that the developers can make the next generation multi-chain applications.
Quant Blockchain has two different products in the pipeline which include Overledger OS and GoVerify. Overledger OS would be responsible for the three core things that we have outlined above. However, GoVerify is a different product that will allow people to verify and check whether any emails, SMS, mail, or phone calls received appear as legitimate and actually from the stated sender. These are two entirely different products powered by the Quant blockchain with a currency called QNT.
As of mid September 2019, a single QNT is traded for $7.72 USD and has surpassed a total market cap of $92 Million USD and a daily active 24h trading volume of just over $4.6 Million USD. With its unique future value proposition, QNT has been regarded as the 58th largest cryptocurrency in the world according to Coin Market Cap.
However, they still have to prove themselves and we can’t recommend QNT to any investors who is looking for stability. Instead, QNT is a perfect choice to invest for those who are either day traders, or they are willing to have ‘future proof’ platforms in their portfolio.