Quant Network Review — The First Blockchain Operating System
Crypto Review: Quant Overledger
While new coins are being launched every day, few are worth keeping track of and investing in for the long run. Currencies which can be operable without blockchain technology will suffer the growing pains of the technology, while getting very little benefit. We can almost expect these projects to fail, especially since they are just traditional services with the word “blockchain” forcibly inserted into them. Quant is not one of those projects.
On the contrary Quant is one of the very few projects that will aid the growth and operability of the blockchain as a whole in this new “internet of money” world. How and why are excellent questions to ask, and we will help find an answer to those questions in this article.
Quant makes the claims in their white paper that the Overledger platform will be the “first Blockchain Operating System that facilitates the development of multi-chain applications” and will be able to:
What does that mean exactly?
If you look through reddit posts on /r/QuantNetwork/ you will find plenty of comments and claims for these achievements but very little substance to how it will work exactly. One official post at least makes a more specific statement, making the claim that “[Quant] connects the world’s networks through a single API to multiple blockchains and bridge existing networks to new blockchains.”
In essence, as an ERC20 token, Quant will connect other blockchains to the Ethereum network, and use the Overledger network as an API to connect these blockchains. In a post on Medium about how Quant will bring trust to the DGPR technical specs, “treaty contracts” will be the arbiters between different blockchains.
The treaty contracts will be used for two parties to share data with each other, interconnecting their blockchains which will follow a strict and transparent set of standardized rules. These contracts will have timestamps, data, time limits, etc.… making the data traceable. This can be used for nearly every business transaction as well as a warranty for a purchased good.
The beauty of these treaty contracts is that they allow for the use of dApps (think Crypto Kitties), which run on Ethereum based smart contracts but across blockchains. Meaning the Ripple blockchain will be able to interact with the smart contracts of the Ethereum network. These are what Quant has referred to as Multi-Chain Applications or MAPPs. Of course these different blockchains require support by the Quant Network, but even the communication of any two or three blockchains is a giant leap forward in the technology.
Quant claims that the network will be backward compatible, and interoptable. The beauty of blockchains is that they take the trust out of moving assets from one party to another. Now with Quant, we will be able to trust each and every blockchain to blockchain transaction. This is the true meaning when people refer to the blockchain as the “internet of money”.
So this is huge for the blockchain. Since we continue to see thousands of new cryptocurrencies each day, each their own “island”, this problem is becoming clearer and clearer. The “internet of money” is useless without a protocol to make these currencies interoptable continents connected to each other rather than islands.
Overledger is an ambitious goal, but they are not without competition. BrahmaOS has surfaced as their main competitor from the Eastern Shores. We will have a later review on BrahmaOS as they only have a roadmap set up through 2018, and the roadmap only has the Brahma Wallet as the main goal which seems to us, a not so ambitious goal for such a complex technology. In comparison, Quant has quite a comprehensive roadmap through 2019.
Either way, Quant Overledger is a great investment opportunity for 2018.
Being built on the backbone of the Ethereum network, bringing interoptability to the blockchain while also connecting the largest network in the world, the internet to blockchain tech, I think shows just how much the Quant Overledger Network has going for it. Get in before it’s too late!
If you missed the ICO, no worries! The QNT token will be released on June 25th, 2018 so you can buy it up before it explodes in price.
Thanks for reading and good luck.
Brad @ L3O Studios
*Disclaimer: “This article was created in exchange for a potential token reward through Bounty0x” *