QUANT NETWORK: An Overledger Network

Introduction

A lot of happenings have shaken the world over the years. The collapse of the Lehman Brothers in 2008 will be remembered by bankers or financial experts. Other things have happened to humanity but what happened in October 2008 is revolutionary. This was when a pseudonymous cryptographer dubbed Satoshi Nakamoto came up with Bitcoin (Blockchain 1.0).

Ever since, the technology has continued to grow. New and advanced blockchain systems and its application continues to emerge. As it stands, the crypto market has over 30 blockchain projects and with each trying to better the others. With the pros that each of this projects have, there are some cons.

The latest of this blockchain is Quant Network. Quant is an Overledger that combines all the positives of all existing blockchain networks.

What is Quant Network

Quant Network has proposed an application that creates a platform through which blockchains interacts with each other. Although Quant Network shares a lot of technical features with other existing blockchain projects, but the underlying ledger technologies is separated from the business logic. That is, the general application can occur on separate ledgers at the same time and with the ability to communicate with each other. In short, Quant Network is building an overlayer on top of existing blockchains on which applications can run.
Overledger allows user to build a decentralized application on multiple blockchain. Users get to run smart contracts, applications, treaties or transfer data across blockchains.

Current scenario is if you are going to build your own blockchain project, you either choose and existing blockchain or build your own which somehow expensive if you ask me. And if you are to go by the first option of choosing an existing project, you choose alongside any blockchain you choose the pros and cons. To solve the problem of choosing the cons with any of the blockchains you choose, Quant Network is going to come up with their own protocol or environment which provides and interconnection between existing blockchains. This means that, when you choose, you don’t care about pros or cons again. With Quant Network (Overledger), you get to use all available blockchains at a time.

This feature should encourage and boost the adoption of blockchain technology since it’s not tied to a single chain or vendor.

Overledger

This is a new blockchain OS that plans to solve the problems that comes with dependent on single ledger by increasing communication among Deploy Distributed Ledger (DLT) to enable general applications to run on different blockchains.

Advantages

There are four different layers in this architecture;

Transaction layer

This is the layer that stores transactions that are registered on the ledger technology. This includes all operations that needs to get to the consensus of different blockchain domains.

Messaging layer

This layer is logical as all useful and important information is collected from the ledger. Such information might be smart contract, transaction data, or metadata.

Filtering and ordering layer

Here, layer messages built and extracted from the transaction information and those that are referenced in the transaction via hash are filtered and ordered.

Application layer

Messages that meet the requirement and format forms the applications message. The state of the application can be updated by the messages.

Pros

The team has a strong connection with government and national agencies.
The CEO has an experience in information technology and in charge of the project which is a pointer to success. The team in general has been on the Quant Network project since 2015.
When the Quant Network is launched, developers won’t have to worry again as Overledger will solve a lot of single ledger dependency as experienced with existing blockchains.

Token

The QNT token will be an Ethereum blockchain based (ERC 20) token prior to mainnet launch. The token will be used as a means of payment for both developers and users who will use Overledger.

QNT is a utility token and will be used to access the features of the Quant Network platform.
The business model of this platform will encourage and drive up the demand of the token. The more developers, users on the platform, the more the demand for the token, the higher the price of each token.

ICO Details

Token symbol: QNT
Total tokens: 45,467,000 QNT tokens
ICO supply (private & public): 31,00,000 QNT tokens
Hard cap: $36.9 million
Price/Conversion rate: $1.51
Projected crowd sale date: 1st - 12th May, 2018 (main sale)

Token Distribution

Maximum token for sale: 68.19%
Reserve (operational cost and platform development): 18.13%
Team, Advisors, third party service fees: 13.67% (12 months vesting)

Roadmap

Team

Conclusion

Quant Network is building a unique and a new infrastructure which makes them the first with such functionality and this gives them an edge in the market. Part of their codes will be open which will make the project popular among developers and this will increase the demand for the token. Part of the Overledger codes has already been published on Github which makes thing more interesting.

In their roadmap, there is an option to create a decentralized exchange which is part of their technological development.

For the lovers of innovative blockchain technology, my suggestion is to add this token to a long term portfolio and wait for Q2 2019 at least when the final component of the project will be launched.