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Quant Network (QNT) is a protocol that delivers blockchain interoperability solutions to make the global exchange of information more efficient, low cost, and less risky. The project was launched in June 2018 with the aim of connecting blockchains on a global scale without reducing the efficiency of the networks. It is often referred to as an “operating system/software that connects all blockchains.” 

The protocol aims to solve the interoperability challenges in the blockchain industry by creating the first blockchain operating system with distributed ledger technology and the Overledger Network to connect different blockchain networks. The Overledger network is considered the backbone of the Quant network. It allows developers and businesses to build decentralized applications (dApps) that are compatible with multiple chains. These applications are known as multi-chain apps or MApps.

The benefits of the Quant Network and Overledger are as follows:

• Quant bridges the gap between blockchains as the ‘missing link’. The Overledger Network provides a gateway for all networks to connect to other blockchains. It enables applications on one blockchain to communicate with other blockchains as it allows the exchange of data, messages, and assets.
• Developing customized solutions. Overledger enables developers to build customized solutions to solve issues within specific sectors. Quant supports a wide array of blockchains which enables applications to offer different features from all blockchains. As a result, developers are not limited to a single blockchain and can pick out the best features that meet their requirements.

In the development of MApps, QNT plays an integral role as developers who want to build a MApp must hold a certain amount of QNT tokens. These QNT tokens are used to pay for the platform fees or annual licenses for a MApp to operate on the Quant Network.

QNT tokens have a maximum supply of 14,612,493 tokens. Here is how the supply is distributed:

• 9.9 million QNT tokens were sold in the ICO in March 2018 to raise $11 million.
• 2.6 million QNT tokens were assigned to the company’s treasury.
• 1.3 million QNT tokens were reserved for the founders of Quant Network.
• 651,000 QNT tokens were distributed to the company’s advisors.

Overledger has the following components:

• Transaction Layer – Responsible for storing transactions using distributed ledger technology.
• Messaging Layer – Handles all the different types of information, such as smart contract data, metadata, and transaction data, from the various relevant ledgers.
• Filtering and Ordering Layer – Responsible for handling all the messages that are extracted from the transaction information. Moreover, it also helps establish connections between the messages in the Messaging Layer.
• Application Layer – Consists of all the messages deemed valid according to the required format and signatures. These messages can update the state of relevant applications.

Quant Network was launched in June 2018 by Gilbert Verdian and Dr. Paolo Tasca. Gilbert Verdian had an idea for a blockchain project like Quant while working in the healthcare sector. He realized the importance of interoperability in ensuring that patients who are registered across different platforms are covered, and used his learnings to solve the interoperability issues in the blockchain ecosystem.

Quant Network has completed multiple rounds of fundraising. In the early days, the project was funded through an Initial Coin Offering (ICO) conducted in March 2018, where the team raised $11 million. Later, Quant also raised funds in a seed round led by Alpha Sigma Capital.

Quant Network is secured by the Quant Overledger, which forms the network’s backbone. It is responsible for ensuring the secure transfer of information and data on the Quant network by maintaining communication between the DLT networks. Moreover, Quant Network uses the Overledger Distributed Ledger Technology to enhance the network’s security further. 

Additionally, the Quant Network community plays a crucial role in maintaining the network’s security as they are responsible for handling the treasury smart contracts and the QNT payments from users to the gateways. 

However, online theft and fraud are often conducted not by attacking the blockchain network but by targeting users’ online/hot wallets to expose their private keys. Such malicious actors trick users into revealing their private keys or attack systems with malware.

Hardware/cold wallets overcome this vulnerability by storing private keys in physical storage devices cut off from the internet and, therefore, out of the reach of malicious actors.

Prominent cryptocurrencies like QNT are available on many centralized (CEXs) and decentralized exchanges (DEXs). However, CEX users compromise complete ownership over their crypto assets, as they do not have access to the private keys of the wallets holding their funds. In addition, most CEXs also require KYC information these days, which is not ideal for people seeking privacy over their online activity.

DEXs are ideal for investors who prefer privacy and ownership over their assets. But there are still some loose ends on the security front when online wallets are used, as they may expose their private keys and result in thefts and frauds. 

Ledger hardware wallet saves your private keys offline and thus makes your crypto assets inaccessible for anyone except you in the event of an attack. 

Ledger Live app gives the option to manage 1800+ coins and tokens from a smartphone or desktop, making the system extremely convenient. The provision to use a PayPal account or debit/credit card to purchase QNT is also very convenient for new users. Follow the simple steps below to manage QNT with Ledger: 

1. Get a Ledger Nano wallet
2. Download and install the Ledger desktop or mobile application
3. Connect the Ledger app with the Ledger hardware wallet
4. Install the Ethereum application from the app catalog
5. Start buying QNT using Ledger Live