Quant Network | Project Overview
Today we will talk about such an interesting project as Quant Network - The first Blockchain Operating System that facilitates the development of multi-chain applications.
Overledger is the blockchain Operating System (OS) for the future. It empowers applications to function across multiple blockchains. Overledger securely removes the barriers that prohibit communication across multiple blockchains, providing endless possibilities for your data and applications.
The potential of blockchains are seemingly limitless. It includes the following advantages:
- Enable applications to function across multiple blockchains (multi-chain applications);
- Not be limited to any single vendor or technology;
- Allow exchange of data across multiple blockchains as well as recognition of transactions related to change of ownership (of off/on-chain assets) and obligations/rights (arising from smart contracts) across different blockchains.
Goals of project:
- Enable interoperability between different DLT frameworks, as well as between DLT and existing networks and enterprise systems.
- Create an ecosystem of community and enterprise driven multi-chain applications and users.
- Connect the Internet to Blockchain through Overledger. Allowing direct routing of TCP/IP to Blockchain addresses.
- Create Blockchain addresses in the form of Quant IP to establish the Internet of Trust.
- Create foundational Internet applications on Overledger.
- Create Quant IDs to overlay Quant IPs for people to transact.
- Foster the mass-adoption of blockchain technology through collaboration.
The team sees the problem in that Blockchains have traditionally been quite difficult to implement within enterprises and government. Since the introduction of blockchain technology, organisations have been experimenting with the feasibility of blockchain to understand its capability. Proposing an internal business cases to implement a new technology which interfaces with an existing mature enterprise backend are difficult. Even in absence of multi-party projects that require the coordination between different players, the visionaries within an enterprise face sizeable challenge. They are required to sell their ideas to multiple stakeholders (at the highest levels) in order to have their business case for looking at these new distributed network technologies approved. In addition, they also need to convince risk and security units that blockchain experiments or pilot projects will not put their environments at risk and potentially out of regulatory compliance. Where Overledger differs from existing DLT Interoperability platforms is that it decouples the message layer from the transactional layer of the DLT technology in question, providing:
- Flexibility - The option and ability to move to different ledgers if the underlying DLT becomes obsolete or transaction fees are too high, ensuring availability and saving you money
- Backwards Compatibility - The ability for you to connect your legacy data sources or external APIs to DLT technologies to take advantage of the key aspects of the technology
- Simplicity - Easy to use development interfaces to produce both cross ledger and standard applications reducing time to market and democratising development.
The Overledger solution addresses four parameters of system interoperability (see Table 1):
- Transport. This relates to the type of transport infrastructure adopted by the DLT systems and legacy systems. If the transport facets do not align, then a protocol to convert and transfer the signals is needed.
- Data Syntactic. This regards the similarity of data syntax between systems. If the syntactic facets do not align, then some form of data syntax conversion is needed.
- Data Semantic. This characteristic relates to data structure and its meaning. If the semantic facets between systems do not align, then new data model would need to be implemented but this is generally very difficult to achieve.
- Behavioural Semantic. This relates to how a system reacts when data is exchanged with another system.
The optimum company financial outcome would be to release the QNT token and the Overledger technology whilst retaining full control. This would run counter to the creation of a development community and Quant ecosystem creating a limited uptake of the technology
Team are proposing to foster innovation by directly incentivise developers by creating an App Store model. By allowing the wide-use of Overledger through open-source they can encourage developers by sharing income within the applications created. Two approaches can be created akin to Apple and Google stores:
- Developers can release free applications. For these applications the usage charge can be set to zero for the transaction. However, it will be a prerequisite that the client utilising the application holds a minimum number of QNT tokens in order to access the platform and use the solution.
- For applications where developers intend to generate a revenue stream, a separate charge using a 3rd party payment processor can be set at the appropriate level determined by the developers.
The Quant App Store is planned to be launched in Q1 2019 to provide developers the opportunity to create and publish MApps, and then charge for their applications. Team are looking to provide the ability to charge either a one-time fee, per transaction or usage of the application fee, or a subscription model for monthly recurring revenue by developers. They let to the developers the choice of the best business model for their MApp in line with the market’s expectations. The development team allocates a roadmap: (see table №2)
QNT Token functions as a utility token on the Quant Network platform, which will allow Users the access of the Quant Network platform. Through the Token Sale, the Users acquire the rights to use the Quant Network platform.
TOKEN SALE: 1 MAY – 12 MAY
Ticker: QNT Token type: ERC20
ICO Token Price: 1 QNT = 1.62 USD
Fundraising Goal: 39,700,000 USD
Total Tokens: 45,467,000
The project has an experienced team whose members have experience in the field of financial services, governments, consulting companies and industry. As well as in the economy and central banks.
The project looks promising and large-scale. All of the above indicates a serious understanding of their technology and vision of the future. The team is very detailed and well described the structure of its project in its white paper. Also, I would like to call the good experience of the team in this field. We will hope that the team will succeed and they will surpass their.
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