Quant $QNT Wiki: Coin History, Techstack, and Crypto News

Quant is the native cryptocurrency token of the Quant network. The coin is denoted as QNT. The Quant network is a blockchain platform that focuses on creating and strengthening interoperability in the operations of different blockchain platforms.

The QNT token is based on the Ethereum blockchain. It is used to pay the fees and the licenses needed to access the quant network and pay for items.

The Quant network is based in London. It is part of the digital pound association which works on advocating for the creation of a digital Pound.

History

Quant launched the Quant token, QNT, in 2018. The token hit a record high of $428 per QNT in September 2021 but proceeded to fall below $100 per QNT by February 2022.

The Quant white paper was written by Gilbert Verdian. Quant was created in 2018 by Colin Paterson, Gilbert Verdian, and Paolo Taska. Both Verdian and Paterson had worked in informational security before.

Quant’s ICO was held in 2018 and made $11 million by selling 10 million QNT. The amount made from the ICO was low enough to cause some issues since the expected amount from the ICO was $40 million. The issues were eased by an investment of an undisclosed amount of funding to the network by Alpha Sigma capital.

Quant formed a test net version of it’s over ledger platform in 2020 and went live with the network in 2021.

Biggest Claims To Fame

The Quant Network allows developers to build decentralized applications over several blockchains at once. This reduces the risk of a developer spending time and money building an application on a blockchain that will fade into obscurity in a few years.

The Quant network allows the building of several apps over different blockchains allowing for a wider audience working on the applications. The applications are exposed to a wider audience than they would have otherwise on different blockchains that probably have different demographics of users. This also helps avoid the question of which of the blockchains they should focus on in order to get the most number of people to view and use the app locations.

Quant network technology increases the scalability of blockchains and decentralized applications. It also increases the chances of mass adoption of decentralized applications by a big margin as compared to anything on the market today. Scalability has been an issue in the cryptocurrency and blockchain platforms available to the public but with the Quant network, the issue may end up being reduced.

Quant provides a solution to end the belief of a single blockchain’s supremacy over other blockchains that is rampant in the current cryptocurrency market. By providing a way for apps to be placed on different blockchains, Quant proves that multiple blockchains can work at the same time on the same thing and coexist together. It proves that multiple blockchains can survive without some needing to fail.

Biggest Criticism

QNT is listed on very few markets. This reduces the exposure people have to it and brings about questions on what the quant network plans for the coin in the future. It also means the value of the coin may only be so high only because the current market for it is very small.

The available Quant is held in the majority by a very small amount of people. This means the people who hold QNT may band together and decide to artificially inflate the market. It also means that very few people can influence the direction they would like the Quant network to go without pushback and the changes will go through, even though a larger percentage of people do not want that. This is a challenge to the decentralization of the platform.

The details on how the Quant network works exactly have not been released to the public since it is not an open-source project. This means that users have to trust that the network does what it is meant to do. Since the ideal cryptocurrency network is trustless, this brings about questions on whether it can legitimately work towards the vision of a decentralized, permissionless, and trustless financial system.

Team

Gilbert Verdian is the author of the Quant white paper as well as the CEO of the Quant network. He has worked at Price Waterhouse Coopers and has worked on committees at the Bank of England, the US federal reserve, and the European commission. He worked as the Chief Security Officer at MasterCard before moving to found Quant.

Martin Hargreaves is the current Chief Production Officer at Quant. He has previously worked at Vocalink which manages the payments to and from Mastercard in all of the UK and some parts of the US.

In Conclusion

Quant is the leasing network that works on the interoperability of blockchains. Its vision is sound and fully necessary in the current blockchain market.