Blockchain technology has flourished since 2009 and there are already hundreds of blockchains released or still in development and even more DApps, which run on existing blockchains. Being still in the beginning of the blockchain technology it is very difficult to predict, which blockchains will have the ability to finally change the industry. For teams who have an idea for a DApp it is essential right now to choose a blockchain with a bright future and right now we can observe that many choose Ethereum as their path to go since it has a lot development and support. On the other hand, we have a lot of new upcoming blockchains with more advanced technologies, which make Ethereum high competition and we can see this by the development of Ethereum who now also try to add Sharding and Lightning technology to their blockchain for example.
The idea of Quant Network to solve this problem is Overledger. It will be an application to run on top of blockchains with the goal of breaking single-ledger dependency. Of course, Overledger is not the first project to overcome blockchain borders. In the whitepaper of Quant Network we can find a list of competitors such as Cosmos and AION. My first expectation was also to find ICON (ICX) and ARK on that list, but the information provided makes clear how Overledger distinguishes from its competitors including ICON and Ark.
The main purpose of Overledger is to build a messaging layer for multiledger applications and while the competitors either have connectors in between blockchains or just enable a bridge for two blockchains at a time, Overledger overcomes these limitations and becomes the first N-N-solution, which means that many blockchains can connect and communicate with each other at the same time without having connectors in-between.
The importance of blockchain bridges and the messaging layer one can see when looking at the current state of blockchains. There are a lot of blockchains for certain purposes such as finance, IoT or supply chain-oriented. But imagine you have a blockchain for services such as payments on market platforms like Amazon communicating with supplychain blockchains, which would focus on the sellers, who are active on Amazon. This way each blockchain could be optimized for the actual customer using the blockchain and then communicating to the other blockchain through a messaging layer. Possible receivers and users who could take advantage of Overledger are:
Softcap: 23.467 Million QNT tokens (16 Million for sale and 7.467 Million not for sale)
Hardcap: 45.467 Million QNT tokens (31 Million for sale and 14.467 Million not for sale)
Token Split: 68,19% available for Token Sale
Symbol: QNT, ERC-20 Token
Token price: 1ETH = 430QNT during Token Generation Event
As we have seen before there are competitors of Quant Network who already have launched their product. Although Quant Network brings the advantage of being the world's first "N-N"-solution it is positive to see that the product has already three years of development from the first idea in 2015 and since then a lot of research and development has been put into the project and also patents has been filed. Morover, the protoype development started started in November 2017. From Q2 2018 to Q3 2019 the product will be released steadily and Quant Network will continue filing patents.
Quant Network has a clear vision and a valuable use case for the rather shrouded blockchain industry and could bring new opportunities to existing blockchains. Also their is no other project right now following the same approach and Quant Network might have a chance to achieve a competitive advante. Moreover, a good idea always needs a good team and the first glance on the website of Quant Network indicates a rather small team, but the team brings a lot of experience and regarding the team I always prefer quality over quantity. The team brings a lot of experience from IT and Cyber Security. The CEO, Gilbert Verdian, brings not only experience and a good background for this project, but he is also the founder of the Blockchain ISO Standard TC307. In addition, he is the Chair of the UK’s national committee on Blockchain and Distributed Ledger technologies. Overall, Quant Network brings a lot of reasons, why one should at least follow the project and get interested in reading more about their current activities. I also predict that other blockchain bridging projects will have Quant Network on their screen. For further information please check the links 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: http://telegram.quant.network
My Bitcointalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=1992234
My Bounty0x Username:
