Introduction:
During the past few years, blockchain has gained a lot of popularity around the world. Businesses are slowly adopting the blockchain technology, as it will improve their business processes, reduce costs and solve existing problems. In order to satisfy the increasing demand of blockchain technology, many different kind of blockchains have emerged to solve different, but also common problems. Blockchains like Ethereum, EOS, Cardano, Stellar and plenty more have been developed, offering projects to launch new applications and use cases on their blockchain. But as each of the blockchain face different problems such as low scalability, low transactions or network congestion, one have to think about a solution about that. The question is, why diffent blockchains cannot simply connect with each other, so applications can be used across multiple blockchains, leading to even more advantages for its users.
A Solution With Overledger:
The Quant Network project aims to build with their Overledger, the blockchain Operating System for the future. Their goal is to remove communication barriers between multiple blockchains, by enabling them to cooperate with each other and making applications useable on any kind of blockchain. In order to do so, the project has set up 3 main goals.
Overledger is not just another blockchain but rather the "over ledger", which "sits on top of blockchains and provides a meta-gateway".
Advantages Of Overledger:
Using the overledger comes with different advantages for any kind of groups. As an example, overledger could be used for enterprises in order to build their business on the blockchain technology and connect their network with the blockchain. This enables them not only to take advantage of different useful applications across multiple blockchains, but also enter new markets and increase their reach of network.
For individuals overledger could bring advantages such as safe transactions between each others. Individuals can gain better control over their privacy and profit from greater transparency.
Overledger also could help the healthcare industry for example in cases like security and privacy of health data. Saving records of patients on the blockchain offers great transparency and security of their data, which will lead less unknown costs when visiting a doctor.
Lastly also the government can profit from overledger. With overledger a collaboration between the public and private sector as never seen before can be established. With more transparency, citizens gain more trust towards their government, which is nowadays still a big problem in many countries.
Overledger can be used for many more usecases for sure. But for now, the 4 mentioned groups are the first targets of overledger, which profit from the technology at the most.
The ICO:
Quant Network is currently doing its ICO (Initial Coin Offering) to collect funds for further development, marketing, but also legal costs. In total 68,19% of the total token amount is available for the public crowdsale with the rest of the 31,81% kept by Quant. Registrations for the whitelist already has ended on the 30th April, therefore the contribution is only possible when you are eligable. During the first week of the sale, already over 5 million USD has been reached with the project beeing oversubscribed. Smart contract for contributions will stay open until the 25th June and all unsold tokens will then be burned. Here are some further information regarding their ICO:
Uses Of The Quant Token:
Quant Tokens (QNT) are the native tokens for the Quant Network project. Quant tokens are utility tokens. Their purpose is among others for payments, for example for users or developers, who interact with the Overledger or create applications on the blockchain. With tokens, users can gain access to certain features of the Quant Network platform. With more usage of the blockchain and more applications build on it, the demand for the QNT tokens will increase, which will reflect in a higher token price. Tokens can be bought or sold on major exchanges later on.
The Team:
Below you can find the board of the Quant Network project which consists of Gilbert Verdian as the CEO, Paolo Tasca as the chief strategist and Colin Paterson as the CTO. The team currently consists of 4 more members and will for sure expand with further development. Great to mention is that the team has quite good expertise in the blockchain already and additionally to that good knowledge in IT, like cybersecurity and A.I. which is especially useful for this kind of project. Furthermore the team has great connections to governments and agencies, which will help them to not only get financial support, but also support for promoting the project. Partnerships with the Accord Project as well with the HUW Hamburg University in Germany has been already established with more partnerships to be expected in the future.
If you want to know more about the team, check them out for more details on https://www.quant.network/team/
The Roadmap:
Below you can see the roadmap of Quant Network. The roadmap is pretty straight forward with a concept developed already in July 2015 inspired by case studies in the industry and government. So far a lot of research in the blockchain field has been done to find problems and solutions on the blockchain. Not only a prototype was already developed, but also patents filled in the EU. Currently the project is in its ICO phase in order to collect funds for further development and marketing. For the rest of the year not only the Quant SaaS product release is expected, but also the Quant App Store which will developers to build apps on the Quant blockchain. For further information regarding the roadmap please check out the roadmap below and stay tuned for a more detailed roadmap, which for sure will come after the tokensale.
My Opinion:
Quant Network is facing a great currently existing problem of interoperability of different blockchain applications. Having a solution for this kind of problem can be really revolutionary and can bring great value to the blockchain technology itself leading to even more applications and businesses built on the blockchain. Personally I really like the idea behind this project. On the other hand I think that this project is not a project where investors can expect high returns within weeks or months. The challenges are high and developments for that takes time. With the team having great connections to governments and agencies as well as having already started to code (releases on Github), I'm quite positive on a success on the Quant Network project for the longer time period. Stay tuned for further updates regarding the project, which I will continue to keep posting on steemit.
Further Information:
Want to know more about the Quant Network project? Take a look at their official website and their whitepaper for more information. Also subscribe to their official communication channels to stay up to date. Any questions, feel free to comment below.
Website: https://www.quant.network/
Whitepaper: https://www.quant.network/wp-content/uploads/2018/04/Quant_Overledger_Business_Paper_v0.1-1.pdf
Twitter: https://www.twitter.com/quant_network
Facebook: https://www.facebook.com/quantnetwork
Telegram: https://t.me/QuantOverledger
My Bitcointalk Profile (Rano): https://bitcointalk.org/index.php?action=profile;u=1609093
Bounty0x Username: Bumshak
My ETH: 0xFc58f16Ab51A635fdb06b4Db14E59ad994884AD7
