QNT Crypto - Everything You Need to Know

This article examines QNT crypto, including its network, use cases, and price predictions.

In the face of rapid growth in blockchain networks, multi-chain features are becoming increasingly necessary. That's why in recent times, the focus of developers in the industry has been on interoperability. Many protocols have been introduced in the market to bridge the gap between different networks.

One such renowned blockchain project is the Quant Network. It leverages Overledger technology to bring together varying networks. It also helps in building decentralised software for enterprises.

In this article, we will discuss Quant network and what services it offers. We will also discuss QNT crypto and the prospects of investing in it.

Quant Network: A quick overview

Quant is a versatile project that provides operating systems and blockchain interoperability solutions. Using the Overledger operating system, the network uses the automated trust mechanism to bridge multiple blockchains. Its solutions are specifically helpful for enterprises. The reason is that its suites can be deployed directly without the need for too much coding.

The project is a London-based firm founded in 2018 by Gilbert Verdian, Paolo Tasca, and Colin Paterson. Verdian is still the CEO, whereas other founding members no longer serve the company.

Quant’s ecosystem

Quant ecosystem is built to connect private networks with public blockchains. It provides a secure, decentralised, and interoperable gateway to large corporations. One of the most significant components of its ecosystem, the Overledger operating system, provides an application programming interface (API) with blockchain-agnostic features. This means it can work with many distributed ledgers, giving you various choices.

Furthermore, it allows you to build specialised decentralised applications which have multi-chain features. These apps are also called MApps and can be essential for various industries. The financial service providers, healthcare sector, governmental institutions, and other enterprises can build them on moving towards a digitised economy.

Since the network allows MApp infrastructures, it also supports multi-ledger tokens (MLTs). These tokens are pegged with a treasury kept in escrow accounts. This ensures that cryptocurrency transactions are carried out in a trustless manner.

MLTs can be stablecoins, central bank digital currencies (CBDCs), loyalty points, or other similar tokens. However, its ecosystem is powered by the QNT crypto, the blockchain’s native token. If you want to use the services of this network, you must acquire QNTs.

How does the Quant network work?

The network’s blockchain operating system works with the DLT (digital ledger technology) gateway. It allows seamless integration of networks, irrespective of their dissimilarities in the protocol, blockchain, etc.

It follows the TCP/IP-like model, usually used in communication networks. The model is organised in layers. Different layers within the model are designated for various task.

Source

Here’s how the model works:

1. Transactional layer At this layer, all transactions are managed and stored. It maintains consensus between different blockchain domains. Also, it ensures that transactions of one blockchain are validated only on its domain and not on other blockchains.

2. Messaging layer Messaging layer is a logical layer that retrieves relevant information from all ledgers. It stores transaction data, metadata, and smart contract information. Besides, all the communication between DApps takes place at this layer.

3. Filtering & ordering layer This layer is quite similar to the messaging one. But it deals with specific messages from the transactions. Out-of-chain messages, referenced by hashes, need to be ordered and filtered. This layer communicates with the messaging layer for ordering and filtering.

4. Application layer At this level, the state of the application is inspected. Messages with valid signatures and formats may update the status of the application. References are made through hash pointers which can refer to the storage.

QNT Crypto - The native token of Quant

QNT crypto was introduced in 2018 via an initial coin offering (ICO). It secured more than $11 million with the ICO. It is the utility token that fuels the entire ecosystem. All the transactions, like trading fees and platform fees, are paid through QNT tokens. Besides, MApps built on Quant will give access to QNT crypto to the service providers and users.

The token is developed on the Ethereum blockchain and follows the ERC-20 token standard. Also, it has agnostic properties, so you can use it on other networks.

Tokenomics

Currently, the value of Quant tokens is $106.15, with a market capitalisation of $1,314,333,336, according to CoinMarketCap. Moreover, its circulating supply is 12,072,738, and a total supply of 14,612,493.

The total fixed supply is divided into four parts. The most significant part is assigned to the public, and the second largest is to company reserves. The founders and advisors also have their shares.

QNT crypto price prediction and analysis

In mid-October, QNT crypto’s price saw a positive movement. It peaked on 17 October at $226, which was its highest value in 2022 so far. It appeared to be a price correction after the upward trend that started in June. It broke the support level of $150 and was trading above it. This indicated the next bullish run for the coin.

However, it could not persist with the bullish movement. Currently, it is changing hands at $106. The bullish run was invalidated because it fell well short of the support level. It has seen a drop of over 32% in the past seven days and showing bearish signs.

But as the value is down, it could be a buying time for the investors. The trends suggest it might show a slight recovery in the coming week. QNT crypto might reach $115 if it continues the recovery. Notably, the next support level for the coin is $87, whereas its resistance level is $123.

Is Quant crypto a good investment?

Overall, the Quant Network is a unique project introducing practical use cases. Its solutions can be ideal for managing large firms like governmental institutions, healthcare firms, and financial service providers. More adoption can make a digitised economy more accessible for businesses. This could also result in a positive impact on its price.

It reached its all-time high of $428 last September’s bullish cycle. That’s why it has the potential to perform well in the next bullish cycle. Besides, it can also make you short-term profits regularly. Suppose it continues its recovery with some stability in the crypto market. In that case, it could be a gainful asset in your portfolio.

Final thoughts

QNT crypto network is an innovative approach toward blockchain interoperability. It not only allows different blockchains and networks to work together, but also allows the development of useful MApps. Besides, it can be a profitable addition to your portfolio, giving you both short and long-term gains.