What is Quant Network (QNT)?
How easy would it be if you could use Bitcoin with a dApp running on Ethereum's blockchain? Right now, you'll have to sell your Bitcoin for Ether first, and then you be able to use it with an application on Ethereum. If it's up to Quant Network, this won't have to be the case any time soon and you can just spend assets from one blockchain on another. We're happy to explain what Quant Network
is, and where you can buy QNT tokens.
What problem does Quant Network aim to solve?
Despite cryptocurrencies becoming more popular, and blockchains becoming more common, both technologies still contain flaws that prevent mass adoption. For example, consider the strong price volatility of cryptocurrencies, and the interoperability and scalability problems of blockchains.
These problems are not surprising, as the technology is still very young. Thus, there has been little time to fully avoid these errors. Of course, there is also a lot of testing to be done on a large scale to find out new problems and solutions.
Interoperability refers to the cooperation between blockchains. Traditionally, it is not possible for two different blockchains to cooperate with each other. Think about moving assets on one blockchain to another blockchain.
This is because each blockchain uses its own technology, protocols, and programming languages. For example, Ethereum's blockchain uses ERC protocols for its tokens, while the Binance Smart Chain creates tokens using the BEP protocol. As a result, it is not possible to exchange these tokens between the two blockchains.
The problem becomes even more serious when we consider the interoperability between central systems and blockchains. For example, a web server would not be able to work with Ethereum's network. Both systems use completely different technologies and protocols, which make cooperation impossible.
What is Quant Network (QNT)?
Quant Network is a crypto project that aims to solve the problem of interoperability between blockchains. It is not a blockchain itself, but an operating system for blockchains. Previously, there has been no crypto project that aims to improve interoperability in this way.
With Quant Network, collaboration between blockchains becomes possible. The technology behind this is called the overledger. A blockchain can use this technology by adding just three lines of code. Then, Quant Network's Overledger allows for collaboration between different networks.
How does Quant Network work?
The technology behind Quant Network is unique in its kind. As mentioned earlier, it is not a blockchain, but an operating system, which is also known as an Overledger. It is possible to build multiple blockchain and multichain applications, called mApps, with this technology.
The Overledger connects blockchains and database systems together. This means that collaboration between blockchains and central systems will also be possible with Quant Network.
Quant Network has its own source code that defines the rules for interoperability. This source code then runs above the transaction layer of the networks connected by Quant Network. We could therefore compare Quant Network to the Internet, which might make the workings of this project even clearer.
In every house, the router provides the home network. All devices in the house are connected through this router, forming a network. This can be compared to an individual blockchain, such as Ethereum. Next, a protocol is built on this router that allows for connection to routers that also have this protocol. Each home network uses a different language, but the protocol provides a translation that is understood by the entire protocol.
This allows each router to talk to each other, and cooperation is required. The moment a router receives information from another router, the information is first translated into the language spoken within the home network. After this, the devices in the home network can understand this information, to send a response back.
The Overledger of Quant Network actually works in much the same way. It ensures that blockchains can continue to do what they want to do and communicate with other blockchains through Quant Network. They don't have to modify anything themselves to do this, except to include Quant Network in the blockchain.
To perform a transaction with Quant Network, you need two different tokens. The first token is the token of the blockchain you are using, such as Bitcoin. In addition, you will also need the QNT token
. This is the native token of Quant Network itself. QNT tokens also give you access to Quant Network's survivor.
Before buying into QNT tokens, it is important to always do your own research and not just take the advice of others. This way you will learn why an investment goes right or wrong, so you can adjust your strategy accordingly in the future.
Where can I buy Quant Network (QNT) tokens?
You buy QNT tokens from Quant Network safely and easily at Coinmerce. If you already have an account with us, first log in and then go to the 'Coins' page via the menu. Here you can search for Quant Protocol by using the search bar.
At Coinmerce, it is possible to buy QNT tokens with iDeal, SEPA, Giropay, Bankcontact, Sofort, EPS and MyBank.
You don't have an account at Coinmerce yet? That‘s no problem, because you can easily create an account. After your account has been created and verified, you can begin buying and stake QNT tokens at Coinmerce
with our supported payment methods.
How to store QNT tokens?
You can store your QNT tokens in Coinmerce's software wallet after purchase. You don't have to worry about security because we always store a large portion of our tokens in cold storage. This keeps them out of the hands of people who should not have access to them.
Of course, it's also possible to store your QNT tokens in your own hardware wallet. Almost every hardware wallet, such as Ledger and Trezor, supports Quant Network. To send QNT tokens from Coinmerce to a hardware wallet, you will first need to verify the address of the hardware wallet with Coinmerce.