Topics Altcoins
Bybit Learn
Bybit Learn
Intermediate
Dec 16, 2021

A Beginner’s Guide: Quant Crypto (QNT)

Ever since Bitcoin was invented, over 10,000 coins and tokens have been launched on different blockchain structures. Although many improvements have been made since the very first blockchain, today they’re still plagued by a number of issues. One that’s frequently brought up is the lack of interoperability between blockchains. 

The blockchain operating system works in a complex and seemingly individualistic manner, making it difficult for progress to be measured accurately. This is a concern for developers, who design the software architecture employed, and for businesses who use the blockchains. 

Different blockchains are built differently, which understandably hinders interoperability and compatibility between networks. These blockchains can’t share information and data among themselves unless they undergo a process that consumes time, energy and other resources. 

Lack of interoperability is among the biggest threats to the widespread adoption of cryptocurrencies around the world. With sanctions and clampdowns by many nations triggering skepticism, it’s only natural for traders to want an answer … and that answer could well be the Quant Network. In this article, we look at Quant and evaluate its relevance to the crypto landscape.

What Is the Quant Protocol?

Quant Network was founded in 2015 by Gilbert Verdian, with its native token, Quant, launched shortly afterward.

The Quant protocol was born from an immense passion for making the global exchange of information more efficient. Verdian identified this problem when he was working for the UK and, later, Australian governments. He discovered how useful distributed ledger technologies (DLT) could be in solving the problems he was facing. 

Adding overledger functionality to the Quant protocol has opened BitcoinEthereum and Ripple ledgers to its application. The Quant protocol comes closest to solving interoperability issues in the blockchain industry. It acts as a payment validator token used in an overledger operating system.

One of the ultimate goals of the Quant platform is to provide seamless interoperation such that the fractured world of ledger technology is evenly distributed. As a result, the Quant protocol is often referred to as an “operating system/software that connects all blockchains.” 

What Is QNT Crypto?

QNT crypto is a token on the Quant blockchain that provides digital access to a particular application or service. QNT tokens are then given access fees based on a fixed fiat currency amount. For example, developers and enterprises pay consumption fees every month to the Quant Treasury account, which works in tandem with the QNT tokens. 

In addition to being based upon the number of tokens generated, the access fee depends upon the fixed fiat currency amount. For instance, developers and enterprises pay $10 every month to the Quant Treasury, based on the equivalent price in QNT tokens. 

With an increase in both the number of users and the demand for QNT, more QNT tokens are generated and passed into circulation. 

How Does Quant Work? 

The Quant protocol was designed to remove barriers commonly encountered on blockchains in communication, interoperability and scaling. To achieve this, layers are matched to tasks for which they’re best suited, as follows:

Transaction Layer: On this layer, storage of transactions is paramount. Both varied and isolated ledgers are used to place related operations in one layer and verify them across the blockchain. Once a transaction has been validated, it cannot be invalidated under any circumstance. Everything needed for consensus across blockchains occurs on this layer. 

Messaging Layer: This layer deals with information and data transfer. There are three types of data that can be processed: smart contract data, metadata and transaction data. Metadata is used to interpret messages and translate them into different languages for different blockchains to understand. 

Filtering and Ordering Layer: This layer also handles messages. Unlike the messaging layer, however, it involves filtering searches into specific results. Every message on the digital ledger system is placed on a first come, first served basis, and is kept neatly in a database. When validation of an off-chain message is required, the filtering and ordering layer is responsible for validation, since it’s the only layer with the history of messages transferred throughout the protocol. Thus, developers can set specific tasks, e.g., allowing an application to transfer tokens to a particular network once they’re deposited on the DApp

Key Features of Quant

As an Ethereum-based platform, Quant leverages the security and interoperability of the Ethereum ecosystem. Unlike the Bitcoin blockchain, which focuses on providing people a way to transfer value, Ethereum has a wider range of use cases. DEXsDeFi and blockchain games are just some functions you can enjoy via Quant, which operates using a modular architecture that’s alienated from different ledgers at the application layer. It works above these networks, using vertical scalability and future-proof systems. Here are some of the features which make Quant useful.

Overledger Network

The function of the Quant Overledger Network is to secure the transfer of information and data on Quant. It uses another protocol — the Overledger DLT — to fulfill this task. When a user is connected to the protocol, data can be exchanged with any two blockchains within the system. 

Overledger DLT Gateway

The Overledger DLT Gateway is specifically made for a large clientele. Its main role is to assist the system with interoperability between its distributed ledger system and networks. What can be transferred smoothly using the DLT? The answer is data, non-fungible tokens, smart contracts, fungible tokens, and even IDs. One defining attribute of Quant’s Overledger DLT Gateway is that a smart contract can be written in any programming language, from Hyperledger Fabric to Ethereum.

Quant (QNT) mDApps

mDApps are another unique feature found on the Quant protocol. Decentralized applications (DApps) are blockchain-based, and mDApps allow different DApps to work on as many blockchains as possible. With mDApps, developers enjoy the advantage of each blockchain without having to necessarily deal with its restrictions. A developer can enjoy the consensus from one chain, and acquire data from another. 

Pros and Cons of Quant Network

Pros of Quant Network

  • Since it’s built from scratch, Quant doesn’t experience most restrictions which come with DLT. It can be installed seamlessly, without prior knowledge of cryptography or programming.
  • Quant users can connect to any type of digital ledger system, irrespective of their position. Developers, individuals and even public workers can use the network without prior programming knowledge. This combination of flexibility and ease give the platform great appeal. 
  • Quant can be bought with fiat and directly exchanged back to fiat.
  • Quant can neither be forked nor lose communication with its multiple ledgers, so the chances of a security breach on the network are extremely low. The team has experience with cryptography, security and critical systems,  knowledge which comes in handy for safeguarding the platform’s security. Unlike most other distributed ledger systems, no data is stored on the gateway on the Quant network. A standards-aligned API is used by the network for an extra layer of security.

Cons of Quant Network

  • As is commonly expressed in the crypto space, “Not your keys, not your coins.” Since centralized exchanges are major players in the interoperability space, the strength of the exchange determines the safety of your Quant tokens. If a breach does occur, your tokens may be at risk of theft. 
  • Although the Quant protocol seems to be doing everything right, it’s still largely unknown — and has a long way to go if it’s to overtake the market’s leaders. Poised to upend some traditional finance systems, Quant needs to venture into the blockchain industry and become powerful enough to stand toe-to-toe with traditional finance (TradFi) companies. 

QNT Tokenomics

  • Market Cap: $2.5 billion 
  • Fully Diluted Market Cap: $3 billion
  • Maximum Supply: 14.6 billion QNT
  • Total Supply: 14.6 billion QNT
  • Circulating Supply: approximately 12 billion QNT

Is Quant Crypto (QNT) a Good Investment? 

Reports from respectable platforms like CoinMarketCap and WalletInvestor confirm that Quant crypto is a good investment, especially when you’re looking to adopt a long-term approach/strategy.

As of this writing, one Quant token is trading at $163, an increase of about 40% on its value of $98 six months ago. According to WalletInvestor, the price of one QNT is expected to hit $1,877 in 2026. Therefore, if you buy QNT at $163 today and HODL for at least 5 years, the total value of your portfolio is expected to increase by approximately 1,000%. For now, the growth potential of Quant is second to none.

How to Buy Quant Tokens (QNT)

QNT can be bought on various cryptocurrency exchanges, most notably Bybit. 

To buy QNT on Bybit, follow these simple steps:

Step 1Register an account with the Bybit exchange.

Step 2: Visit the Spot market section and search for the QNT/USDT pair. 

Step 3: Make sure you have USDT in your Bybit wallet. You can acquire USDT by exchanging fiat money for it.

Step 4: Click on Buy and place your transaction at a limit order and price of your choice.

Buy Quant Tokens (QNT)
Source: Bybit Exchange

Step 5: Ensure your wallet is in tandem with the Quant token to avoid misappropriation of funds during transfer. 

Step 6: Be sure to keep your private keys safe against cyber scammers.

A word of caution: Quant is not a stablecoin. Consequently, it’s prone to high levels of volatility, and its value cannot be predicted definitively. Please be aware of the risks involved before buying or selling QNT. 

Closing Thoughts

Although QNT poses a solid investment opportunity, it’s worth noting that its future depends on several factors, which include new technological solutions for Quant projects, the crypto market environment, legal positions, and more. Hence, it’s important to do your research before you buy and sell Quant. 

As governments start to produce digital fiat currencies — such as digital dollars and euros — there will be more use cases of network patches linked to different blockchains. Quant will be of great importance during this period.

Cryptocurrency trading is a fairly new phenomenon, and investing in QNT is much like investing in a crypto ETF. The difference here is that you navigate multiple blockchains built on an infrastructure that works interdependently, instead of buying on an exchange. There’s a high level of risk involved, but the payoff may very well be worth it.

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