Quant (QNT) Price
Here you can see the current Quant (QNT) price and its historical price. Quant (QNT) is one of the cryptocurrencies you can trade on BISON.
Table of contents
What does “interoperability” mean?
Before explaining the Quant project, it’s important to understand the concept of interoperability, given that it’s essential for comprehending the Quant project.
In the IT world, “interoperability” refers to the ability of different systems, applications, or products to communicate and work together effectively, even if they were not developed by the same manufacturer or to the same standards. It’s about enabling different systems to “work together” without significant complications.
A common example of interoperability is creating a file in one program and being able to open it seamlessly in another program from a different company. For instance, Affinity Photo, a competitor to Adobe, allows users to easily open and edit files from Photoshop.
What is Quant (QNT)?
Founded in 2018, Quant Network aims to connect all blockchains. Another goal is to simplify access to blockchain technology for businesses by providing tools that nearly eliminate the need for specific programming knowledge.
To enable interoperability, Quant employs various techniques. This technology is known as the Overledger Network, which translates to an “overarching network”. Some describe Quant and the Overledger Network as the first operating system of the blockchain world.
How does Quant work?
Overledger is a distinct blockchain, meaning developers program their applications on Overledger, and Quant manages the communication with the necessary blockchains in the background. The programmed apps are not called dApps (decentralized apps) but mApps (Multi-Blockchain Apps).
To program and maintain these apps, developers must purchase and hold Quant Coins (QNT) for a certain period.
Once a smart contract or mApp is programmed, Quant can track a transaction across multiple blockchains and their respective transaction ledgers. If a company programs an application requiring a transfer across Bitcoin and Ripple blockchains, Quant can facilitate this. This type of smart contract is also known as a Multi-DLT (Distributed Ledger Technology) Smart Contract.
The Quant Network is building a SaaS platform
Quant wants to make the underlying technology Overledger available to a broad range of companies. For this reason, Overledger is offered as a Software as a Service platform (SaaS). The application can be integrated via low-code and API. This means that developers can benefit from the advantages of Overledger technology without the need of extensive training. You can find more information at https://quant.network/.
