- Functioning product/ Actual clients /Strong business development pipeline
- Token is essential to the product/network, with useful utility and good scarcity models
- It provides a solution to the scalability issue via horizontal scaling
Technical Analysis by Kong Trading - 11/21/2019
Currently, on the 3Daily timeframe, we can see an uptrend and increasing market structure. Quant is approaching a previous key-level of resistance, where it got rejected previously and most recently. Nevertheless, this is not always a bearish sign. In this case, some traders would call this a “consolidation below resistance,” creating a scenario where the price fails to break the uptrend support and gets squeezed into the resistance, resulting in an impulse move upwards.
To read the full Technical Analysis from Kong Trading click here.
Quant Network is proposing a system wherein blockchains can interact with each other, enabling interoperability between distributed ledgers (DLT) and even permissionless blockchains. The idea is to build an encompassing layer on top of these blockchains and allow applications to run on them.
The main goals of the Quant project is to provide an interface at the intersection of different blockchains, to bring established enterprise solutions in industries like financial services closer to the realm of blockchains and enable the development of multi-chain applications.
Quant's new system is called Overledger. Unlike a traditional blockchain, it has an over-layer that can host applications accessible via any blockchains that are integrated with Overledger. The Quant team views this as an operating system for Mapps (Multi-chain applications).
Since Overledger bridges several integrated ledgers, it is a chain containing blocks of the different chains – e.g., a block of the Overledger can include one or more blocks of different blockchains.
The Quant team devised the architecture similar to the OSI and TCP/IP model for the Internet, funneling the tasks among four different layers.
As the underlying layer, the transaction layer registers and stores transactions coming from the different integrated blockchains or ledgers. It registers all necessary chain activity leading up to consensus reach on the various blockchains. Obviously, all transactions executed on a specific blockchain only have an impact on their own network – Overledger only listens and registers each chain’s individual activity.
Within the messaging layer, all information is parsed, and relevant data is filtered from every individual ledger. Information can represent transaction details, smart contracts, or metadata. As a logical layer, it stores all transaction information and any messages included within transactions of different applications. Quant aims to utilize the messaging capabilities of blockchains not only to serve as complements to transactional details but also to be used for more complex application logic.
In this layer, a set of rules filters a small set of messages and transactions and determines their processing order, regardless of the sequential position held in their respective ledger. The duty of this layer is creating connections among different messages parsed in the messaging layer. In the case of metadata, this is the layer where validation checks are done on out-of-chain messages, to avoid spam messages and identify whether there is additional application logic to be executed.
These validation checks also ensure that application-specific requirements can be set on transaction data. For example, the application may only accept transactions from a particular address or may need a certain amount of coins to be moved. Therefore, applications will only consider valid messages that meet the specified criteria.
Applications have the chance to communicate with each other by pushing messages through the messaging layer. As long as messages are compliant with the filtering rules of the receiving application, they can flow through the Filtering and Ordering Layer to the Application Layer.
Messages can update the state of an application. Different applications can share the same messages or can refer to messages of another application.
On the demand side, Quant targets enterprise and institutional clients. Overledger caters to their needs while providing a flexible way of starting to build applications on distributed or decentralized platforms. By using the Quant network, businesses can minimize risks associated with migration processes and improve the resilience of their own applications. Enterprises that haven’t worked with decentralized systems might find Quant’s proposition very attractive.
On the other side, as Quant aims to build an entire ecosystem around Overledger, the network will want to attract as many developers as possible. The Quant project provides the means for developers to create applications using a Software Development Kit (SDK).
Developers can create applications without having to rely on the capabilities of a single blockchain and can build solutions across chains. Furthermore, Quant Network will incentivize developers by releasing something akin to an App Store.
Overledger is the main product of the Quant Network. It is described as a blockchain operating system that connects different blockchains and networks. Overledger, as such, solves the problems of single-chain dependency by increasing communicability among blockchains.
Although Overledger shares common technical aspects with some of the existing projects, it separates the business logic from the underlying ledger technologies. This means that applications can exist on different ledgers at the same time, with the ability to communicate with each other. Communication among blockchains happens on a logical layer, which sits on top of the transactional one.
This enables users to build decentralized multi-chain applications that are not tied to a single blockchain. It also makes porting existing enterprise applications much easier onto distributed or decentralized systems, since it offers some flexibility after deployment.
Quant Atlas is a product that aims to enable open banking via an ecosystem wherein companies can offer fast payment methods and innovative banking products. The product allows for cross-border authorization and transaction validation as well as an easy way to port banking solutions to different jurisdictions. As a result, a banking or financial institution can have a global reach while offering a well-defined set of products, regardless of the geographic location of the consumer.
QNT is the ERC-20 token of the Quant network. The QNT token is regulated by the Swiss Financial Market Authority (FINMA) as a utility token, which is intended to provide digital access to an application or service. The token is used to access Quant Network’s Overledger and communicate across different blockchains. The token can also be used to access existing MApps.
The demand for QNT tokens is mostly dependent on Quant Network’s business model. Enterprises will be required to pay annual licensing fees to use and build on Overledger. The cost of the license fee will be individually calculated. In addition to that, enterprises will have to pay platform and consumption fees for deployed applications.
At the same time, developers that build applications on top of Quant will also need to pay a yearly licensing fee in QNT. All transactions on the network related to their application will also have to be paid by the developers. Developers, on the other hand, will have the possibility to monetize their applications to charge users a subscription, a recurring price, a one-off price, or an in-app fee.
In order to understand QNT Token & its utility in more detail, we suggest you read these 3 articles:
Overledger is positioned as a software-as-a-service, making the usage of the network dependent on the company’s ability to close client deals. The Overledger has been deployed and already provides integration with Ethereum, Hyperledger, Corda, Quorum, Bitcoin, Ripple, Stellar, IOTA, and the Binance Chain.
Update: It is hard to obtain relevant team information about Quant. They do not have a section on their website dedicated to the team and it seems like the information we obtained from old sources is not accurate anymore. After our initial reporting & some feedback, we had to correct this part.
Check out these resources to obtain more information.
Overledger Network Enhancements
QNT has a total fixed supply of 14,612,493, which was distributed as follows:
There was a 12-month vesting period for the Founders & Advisors after the ICO. This means all the tokens are unlocked and in circulation right now.
Initially, QNT had a total supply of 45,467,000 tokens. Since the hard cap could not be reached during the ICO, the total supply was reduced through the burning mechanism.
Additional information on Quant’s collaboration and partnerships can be viewed here .
Quant Network's social presence is relatively good with over 5K members in the Telegram channel, The admins are responsive and there is active discussion. Their 10K followers on Twitter have good engagement rate and Quant's tweets get avarage 100-150 likes. They do not have official presence on Discord.
You can reach their community AMA sessions here.
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