Quant Network is proposing an application which creates a platform for blockchains to interact with each other. 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 general-purpose applications can exist on different ledgers at the same time, with the ability to communicate with each other. In fact, Quant Network proposes an “over layer” on top of existing blockchains which applications can run on. Therefore, the applications can communicate, migrate and exchange information and value, regardless of the ledgers on which they are used. Overledger enables users to build decentralized multi-chain applications that are not tied to a single blockchain. Users can run applications, smart contracts, treaties or move data across different blockchain technologies. This unique approach should encourage the use of blockchain technologies across various sectors and use cases. This should lead to a large-scale adoption of the technology without tying it to a particular vendor or chain.
Product
The Overledger is the platform on which multi-chain decentralized applications will run. Quant Network will provide the means for developers to create applications to interact across blockchains using a Software Development Kit (SDK).
In order for the blockchain technology to truly offer endless possibilities, it needs to be able to:
Enable next-generation applications to function across multiple blockchains
Not be limited to any single a vendor or architecture
Allow seamless communication across multiple blockchains as well as recognition of transactions and assets across blockchains
Developers will be able to create applications which solve their customers’ needs, without having to rely on the capabilities of a single blockchain. They can create applications that incorporate the full range of data available on the blockchain.
For Individuals:
Quant will completely change how people will interact with blockchains today. A good example would be the recognition of a person’s identity by one entity. By integrating the Overledger an identity created on a particular blockchain can be recognized on every other blockchain connected through the Overledger. Consumers won’t need to constantly create accounts and remember all those passwords.
For Businesses,
Gain access to new markets and customers that use different blockchains
Minimize risk and improve resilience by providing the ability to spread applications and data cross-chain and migrate applications to different blockchains
Connect with suppliers and partners that use any blockchain
Not have vendor or technology lock-in, providing the flexibility to use any blockchain
Furthermore, Quant Network will incentivise developers by releasing their own App Store. By allowing the wide-use of Overledger through open-source, Quant Network can encourage developers by distributing tokens within the applications created.
There are two approaches developers can take when releasing an App Store akin to the Apple and Google Play stores:
Developers can release free applications. Here, the usage charge can be set to zero for the transaction. However, a prerequisite will be that the client must hold a minimum number of QNT tokens in order to access the platform and use the solution.
For applications where developers intend to generate a revenue stream, a 3rd party payment processor can be used to charge at a level determined by the developers. The Quant App Store is planned to be launched in the first quarter of 2019. This will give developers the opportunity to create and publish MApps (Multi Chain Applications).
Token Utility
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, and as an ERC20 token on the Ethereum blockchain.
Quant Network’s business model encourages growth to the platform which drives the demand and the need for QNT tokens. This is part of the product strategy targeted to developers and businesses, as well as the consulting approach to help businesses use the platform. The more customers, MApps, and users on the platform, the more demand for tokens. In line with Quant’s roadmap of creating new technologies (such as a decentralised exchange), the expansion of the functionalities of QNT tokens could be explored.
ADVANTAGE
Quant Network’s CEO has a very solid background, including a lot of experience in information security. He is definitely at the forefront of this project, and the company could not have a better fit. The team and advisory board are strong, and they have been working on Quant’s Overledger since 2015.
When developers create their own DApp, they will not have to worry about details such as, will it fork, will it be fast enough, etc. Overledger will provide the DApps with the ability to have it communicate to any blockchain.
If the team successfully solves the single-ledger dependency problem, there will be enormous use for the Overledger, as multi-ledger applications are built and used on top of the Overledger technology.
The team has strong links to Government Bodies and National Agencies.
We also encourage you to look into the Accord Project – they are partners of Quant Network. Accord Project will help Quant Network use the correct smart-contracts for the Overledger.
DISADVANTAGE
There is not much information about their marketplace and how it will be implemented
The team states that they will be the only platform that will run multi-chain applications. However, there are multiple projects out there with the same goal, such as ArcBlock
The MVP is yet to be fully developed, and as of now only technology specifications are available. According to the team, the technical code will be released on GitHub sometime in Q2 2018.