What Is Quant Cryptocurrency and Operating System?
Removing the barriers to blockchains communicating with each other is a difficult task. You are used to using one blockchain for one thing and another for a different reason. How can we get these blockchains to “talk to” each other?
This is where the Quant blockchain comes in. Did the thought, “What is Quant?” pop into your head just now?
This is especially true when wanting to integrate legacy technology with the myriad of new distributed ledgers. In this ever-evolving landscape and market, crypto technology needs to evolve right alongside it.
To learn more about the Quant blockchain and Quant cryptocurrency, read below.
What Is Quant?
First announced in 2018, the Quant blockchain is a network and blockchain operating system.
When pondering, “what is Quant?”, you will see its claim to fame being interoperability. Quant works with a bevy of different distributed ledger technologies (blockchain, DAG, another protocol, etc.)
The Quant blockchain can be seen as a bridge for various blockchains. Alongside this, the enterprise software uses a “plug-and-play” approach.
How Quant Functions
How does the Quant blockchain function though? The crypto technology behind the platform is the Overledger DLT gateway. The main product behind Quant is its Overledger Enterprise platform.
Various distributed ledgers can take advantage of its API gateway. This allows for companies to connect their pre-existing infrastructure to the Quant blockchain.
What Differentiates Quant?
Now that we’ve answered the question of “what is Quant?”, let’s delve into what makes the Quant blockchain and QNT coin special. With many interoperable blockchain competitors (Cosmos, Polkadot, and Nervos), what’s under the hood of this emerging crypto technology?
The Quant cryptocurrency is Quant’s native utility token. Within the Quant blockchain and ecosystem, it is designed to have several key functions and features.
To use the platform, developers and enterprises need to purchase licenses. These purchases are sent to the Quant treasury and used to purchase the QNT coin. From there, the QNT coins are locked for 12 months in layer 2 payment channels.
Users who wish to run a gateway are also required to pay an annual fee with the Quant cryptocurrency. For doing so, they are then rewarded with a cut of the transaction fees.
The Quant project began with an ICO (Initial Coin Offering) with $11 M raised (out of a $36.9 M hard cap) as well as an additional undisclosed amount through a seed round (Alpha Sigma Capital).
Due to this, we still see the Quant project in active development today.
The Quant project has a community-governed treasury. This allows stakeholders to directly engage and support the Quant economy and ecosystem.
How and Where to Buy Quant
Knowing how and where to buy Quant isn’t difficult. Use either a hot (more convenient) or cold (more security) to perform a trade on the VirgoCX exchange. Be conscious of the current Quant price too.
Don’t Stop Exploring Crypto Now
Now if someone asks you, “What is Quant?”, you can confidently answer them or point them to this post. With that said, don’t stop exploring crypto now.
To keep up with crypto news, trends, and insights you must continually educate yourself. There is always something new to learn, right?
Thankfully, you’re in the right place. Check out our blog to stay in the know.