Quant Token Review
The Quant project aims to build an ecosystem around Overledger, which intends to solve Blockchain interoperability challenges. Current interoperability platforms act at transactions layers by connecting two blockchains via another. By design, Overledger future proofs by isolating the transaction layers. This is achieved regardless of the blockchain being used or consensus model. In a nutshell, rather than being the blockchain itself, Overledger runs on top of the blockchains.
The Quant (QNT) token is intended to provide access to the Overledger network. The idea was introduced in 2015 but conceptualized 2 years later. The project was brought to the public via a token sale in 2018 and it has attracted a lot of goodwill ever since.
Launch, ICO and Market Cap
The project was launched in June 2018. It is intended to provide digital access to an application or open service. The ICO raised USD 11 million from selling 9.7 million QNT of the available 31 million QNT. They were distributed to retail and institutional investors. The team also burnt 9.5 million QNT due to the ICO not selling out.
Start Date: 1 May 2018
End Date: 12 May 2018
ICO Token Price: 1.51 USD
Hard Cap: 36.9 Million USD
QNT 1 month value chart. | Source: Coinmarketcap.
Current coin stats based on CoinMarketCap (01/11/2019)
- Price – $5.91
- Market Cap – $71,352,191 USD
- 24 Hour Volume – $3,185,431 USD
- Circulating Supply – 12,072,738 QNT
- Total Supply – 14,612,493 QNT
- Market rank — #69
Main Focus Area
Quant’s ecosystem will allow developers and enterprise to build multi-chain applications (MApps) for users. It runs an App Store model similar to Google and iOS App stores for these Mapps. This model or ecosystem built around Overledger, addressing blockchain interoperability issues.
QNT tokens serve as license keys to access a platform just the way you need an Apple ID to run iOS Apps. Quant tokens allow access to the Overledger operating system for MApps. But on the other hand, end-users will need to hold QNT to access and use MApps.
Quant Token Roadmap
- July 2015 – the inception of the Overledger idea. It was inspired by real-world case studies in industry and government.
- April to October 2016 – the firm developed the proposal (ISO/TS/P 258) to create Blockchain Standards upon the original Overledger idea. During the same period, the platform got the green light from the ISO to establish Blockchain ISO Standard TC307.
- December 2016 – the TrustTagTM technology has been developed. The patent was filing at 1621807.5.
- March 2017 – research was conducted to look into the lack of blockchain interoperability. The Overledger operating system was then conceptualized.
- October 2017 – the study into Overledger was completed. The design was also finalized and incorporated in Zug (Switzerland).
- 2017 – The prototype for the digital asset develops. However, the patent filing done in December. From then until March 2018, the platform conducted the pre-sale to institutional investors.
- March – April 2018 – was all about Pre-TGE and Public-TGE.
- Q2 2018 – it released its first version of TrustTag.
- Q3 2018 – the Quant SaaS product releases amidst continued patent filing.
- Q1 2019 – the Quant App Store launches.
- Q3 2019 – Quant Enterprise MApps launches. The treaty contracts developed around the same time.
Team and Founders
Quant has registered offices in the U.K, Australia, Switzerland and a research lab in Armenia. Recently, the team announced plans to open a New York office to meet increasing demands.
One of the strengths of the QNT project is the experienced team behind it. The team include individuals who have previously worked with top organizations such as HSBC, Mastercard, PayPal, Morgan Stanley, BNP Paribas, PwC, Ernst and Young and more. Here are a few of the key members of the team:
- E.O – Gilbert Verdian (Former Chief Information Security Officer at Vocalink)
- Chief Operating Officer – Cecilia Harvey (Former Director at HSBC in Global Banking and Markets)
- Overledger Platform Lead – Vijay Verma (15 years of developer experience using Java, Scala, Blockchain enterprise technology solutions)
- Advisor – Paolo Tasca (Founder and Executive Director of the Center for Blockchain Technology at the University College, London)
Quant Token Technology
Quant uses the SHA-256 algorithm.
The Quant token is an ethereum-based (ERC-20) utility token. Being blockchain agnostic, it can also easily swap to other blockchains to meet the purpose of project. The Swiss Financial Market Supervisory Authority (FINMA) regulates the token as utility token intended to provide digital access to an application.
Where to Buy Quant Token
Quant Token is also available on several exchanges. Listed below are some of the exchanges where you can also buy QNT:
The Quant Network aims to enable mass adoption of the blockchain technology to create new products. So far, we can say the team behind this project have achieved a lot within a short time. It is also quite remarkable that they plan to scale their technology and are expanding Overledger gateways in preparation. But hopefully, we will see a much larger growth in value of QNT as more developers and enterprise adopts the Quant Network.