What Is Quant (QNT) How It Works & Where To Buy It?

The Quant platform positions itself as a solution to interoperability. The Quant network uses distributed ledger technologies to tackle interoperability issues that have continued to plague the crypto space.

The Quant (QNT) is the native token of the Quant project – QNT is currently the 65th largest cryptocurrency by market capitalization.

How Quant (QNT) Works

The minimum functionality of the QNT token is to provide users with digital access to particular applications or services. QNT tokens are then allocated access fees, linked to a fixed fiat currency amount, and these can be considered as consumption fees. Its these fees that are paid to the Quant treasury account.

The Quant treasury receives monthly payments from developers and enterprises, and these payments fluctuate according to the market price of QNT tokens. The generation of QNT tokens is linked to the number of users as well as the relevant demand for QNT tokens.

Essentially, the Quant protocol serves as a solution to interoperability issues that have slowed down the mass adoption of cryptocurrencies. The process used to achieve this scalability and interoperability can be contributed to a series of layers that are tasked with specific functions.

Transaction Layer: This layer plays an integral role in the storing of transactions. The verification of the blockchain operating system relies on isolated ledgers and varied ledgers which place these operations in one later. Consequently, after the validation of a transaction, invalidation is not possible. Multi-chain consensus is handled by the transaction layer.

Messaging Layer: the messaging layer is tasked with handling various information and data transfer. Three main types of data are processed by this layer: the transaction data, varying smart contract data as well as metadata. Metadata facilitates the interpretation and translation of messages into various languages – blockchains require translation into different languages to streamline consensus.

Filtering and Ordering Layer: This layer also deals with the processing of messages. However, it differs from the messaging layer because it filters searches into specific results. The sequence of messaging on the system works on a first-come, first-served basis.

Off-chain message validations require the filtering and ordering layer for validation – this is because it’s the only layer with a history of messages. The functionality of this layer includes the ability for developers to set particular tasks such as the transference of tokens to certain networks after they’ve been deposited on a decentralized application.

For a more in-depth understanding of the Quant protocol, why not have a good read through the Quant whitepaper.

What Is Quant (QNT) Used For?

Quant incorporates a variety of innovative blockchain technologies that set the project apart from other projects in the blockchain space. Most notably, Quant incorporates an Overledger network, Overledger DLT gateway, Quant App store, and more key features.

Quant tokens play a fundamental role in the protocols systems and operations. Quant’s Overledger DLT gateway facilitates the interoperation of any data, smart contracts, and key processes between ledgers.

Another innovative feature is mDApps which allow for the use of DApps across various blockchains, without the restrictions each blockchain comes with. Essentially, it bridges the processes and acquiring of data between different chains.

Quant differs from other distributed ledger technologies because its application layer because operations make use of a particular modular architecture.

Additionally, the Quant token is frequently traded on various cryptocurrency exchanges. Its daily price fluctuations make it favorable for swing or arbitrage trading.

Where To Buy Quant (QNT) Tokens

Quant tokens are frequently traded on most of the popular cryptocurrency exchanges. The unique proposition that Quant creates makes it an appealing blockchain project – in recent months Quant has been among the most traded cryptocurrencies on the market.

Before purchasing Quant tokens, users will need to deposit fiat money onto an exchange, sequentially, QNT tokens will be credited to their relevant QNT digital wallet on the exchange.

The crypto exchanges below are the safest place where you can buy, sell and store QNT tokens.

1. Gate.io
2. HTX
3. KuCoin
4. Binance
5. Crypto.com

Quant is an ERC-20 token which means you can use any Ethereum-compatible wallet to store it securely. Some of the most popular wallets include Trust Wallet and MetaMask.

About Quant (QNT)

How long has Quant (QNT) existed?

Quant was initially launched in 2018 by Gilbert Verdian. The protocol aimed to pioneer a future digital economy ecosystem that was fully interoperable across multiple chains.

Quant’s initial coin offering (ICO) raised a total of $11 million. The ICO price for the QNT token was 430 QNT = 1 ETH. A total of 45,467,000 QNT tokens (68.19% of the total supply) were available for purchase during the ICO.

Since the ICO launch, the QNT token has continued to perform well and is still more than 44x its ICO price (in USD pricing).

What’s controversial about Quant (QNT)?

There are thousands of emerging projects entering the crypto space. Unfortunately, many projects take advantage or exploit naïve retail investors that lack fundamental knowledge of the crypto space.

Individuals are encouraged to do as much research as possible before investing in any crypto project. A few key research areas should include the project’s founders, the tokenomics of the project, major partnerships, the whitepaper, as well as any other important factors surrounding the project.

With that in mind, let’s take a look at the top controversy surrounding Quant (QNT):

• Token price – The token price of any cryptocurrency is an incredibly important consideration. Crypto projects need to prioritize the growth of their communities and how many holders of the token the project has – more expensive tokens are often overlooked by retail investors on a budget.

  The psychology behind this is relatively simple; most individuals would choose either a ”penny stock” crypto or an incredibly reputable cryptocurrency like Bitcoin over other projects. The reason for this is that most people are motivated by profit potential, and consider tokens that are pricier to be less profitable. Although this isn’t necessarily always justified, it is a reality that is present in the crypto space.

  The initial cost to buy Quant needs to be justifiable when an individual wants to sell Quant. If the initial purchase price seems overvalued, many individuals will refrain from purchasing a token.

How many Quant (QNT) Tokens tokens are there?

At the time of writing, Quant (QNT) has a circulating supply of 12,072,738.00 QNT (83% of the total supply).

The total supply of Quant (QNT) is 14,612,493.

The max supply of Quant (QNT) is 14,612,493.

Can Quant (QNT) be mined?

Quant (QNT) is not a mineable cryptocurrency. Quant is an ERC-20 token but mining is not possible.

Many websites claim that they can offer users QNT mining services; sites like unmineable.com post bids on advertisements for ”Quant mining” but aren’t able to facilitate these services.

However, QNT tokens can be staked – users can earn generous yields from staking Quant tokens. There a few centralized exchanges also offer staking rewards for QNT holders that stake their tokens for a certain duration.

What is the market cap of Quant (QNT)?

The market cap of Quant (QNT) is: total amount of coins in circulation x current market price of QNT.

Quant (QNT) Market Cap = 12,072,738.00 QNT x $67,13 = $810 million.

Quant has cemented a spot on the list of the top 100 cryptocurrencies by market capitalization. Currently, the QNT price is trading at more than 5x below its October 2021 all-time high of $393.

Biggest Competitors Of Quant (QNT)

The Quant protocol has quickly grown into one of the most lucrative and innovative interoperability-focused protocols. The project has amassed a substantial amount of retail and institutional investors, and there are more than 47,000 unique QNT wallets to date.

However, Quant is not the only blockchain project that provides these solutions to the interoperability dilemma which has long plagued crypto. There are an array of successful projects that have already garnered credibility and significant user adoption.

Quant’s biggest competitors are Cosmos and Polkadot.

What Are The Future Plans For Quant And QNT Token

Quant currently facilitates interoperability between some of the most popular blockchains and is actively seeking to expand its interoperability for more blockchains.

The Quant network aims to provide enhanced interoperability, which they claim will bolster crypto adoption, without reducing functionality, security, or user experience.

The team has announced its intention to prioritize interoperability between decentralized multi-chain applications utilizing the Quant network.

Pros And Cons Of Quant Network and QNT Token

Pros:

• Fewer restrictions – The Quant platform was essentially built from scratch and therefore doesn’t experience the same restrictions as other distributed ledger technologies. The application layer of Quant is what separates the project from its competitors.
• Low supply – The total supply of Quant is only 14,612,493 – this is significantly lower than most other cryptocurrency projects, and is even lower than the supply of Bitcoin.
• Real use case – There are a considerable amount of projects that claim to provide ”solutions” to real-world issues. However, many of these projects are driven by unfounded claims and problems that aren’t necessarily affecting most people. Quant truly provides real solutions to a problem that has affected crypto negatively for a substantial amount of time.

Cons:

• Largely unknown – Quant is providing necessary solutions but the project remains largely unknown within the crypto community. One of the most essential requirements for any project’s success is having a large community that knows about the project. Quant remains relatively unknown with a much smaller community than most other cryptocurrency projects.