Quant (QNT): Web3 Enterprise Interoperability via Overledger

Quant Overledger and Enterprise Blockchain Use Cases

Achieving interoperability between legacy systems and the emerging world of enterprise blockchain tech is an area of significant interest for many of the world’s leading companies. Such interoperability would enable established enterprise tech frameworks and blockchain technology to communicate with one other and work together. Connecting the vast amount of data held within today’s mostly enterprise tech products with open-source and transparent blockchain-based platforms has the potential to create powerful new business models.

The Quant Network’s Overledger platform is a form of Distributed Ledger Technology (DLT) designed for universal enterprise interoperability. This enterprise blockchain platform envisions itself as a decentralized “network of networks” that can infuse existing enterprise technology with decentralized elements. By interconnecting private and public data while maintaining the security and speed required by global enterprise organizations, Quant expects to contribute to the development of a fairer and more transparent global financial system, while providing a whole new layer of value and utility for legacy organizations.

Quant’s Enterprise Connectivity Solution for Blockchain Interoperability

Quant Network’s Overledger is not a blockchain, but rather a DLT gateway network that acts as a platform and marketplace. Through the Overledger portal, enterprises can choose to connect various distributed ledgers, regulatory constituents, existing legacy financial systems, and other data together via numerous application programming interfaces (APIs) and other means. Further, Quant claims it can offer universal interoperability by connecting any existing operational system or network to DLT and provide decentralization, transparency, digital tokens, and other products and functionalities based on blockchain.

The Quant Overledger system allows network participants to create a bespoke gateway that provides access to APIs, data providers, blockchains, enterprise-based platforms, and supply management. The Overledger Network is designed for many uses including stablecoin minting, central bank digital currencies (CBDCs), supply chain management, payments and micropayments, marketplace creation, invoice financing, and other financial applications for banks and related systems. Additionally, Quant is utilized for application development on several enterprise blockchain platforms, for blockchain-specific identity management and governance, and for numerous other enterprise uses.

Quant Token Uses

Quant’s native quant token (QNT) has three main use cases. The first is as the currency of payment for using network resources like APIs, data, and connection between various enterprise blockchains and legacy systems. This QNT crypto asset is also used by gateway operators to pay for yearly licensing fees in order to make use of and participate in the Overledger Network. Finally, Quant tokens are paid by Quant’s treasury system to gateway operators who function as directors of transactional traffic within the wider Overledger Network.

Overledger Network’s Enterprise Blockchain Applications 

We briefly introduced some of the Overledger Network’s uses above. However, the system is not only able to facilitate the interoperation of data, but can also support smart contracts, state changes, digital identities, and fungible and non-fungible assets between different enterprise blockchain platforms.

Public Distributed Ledger Solutions, Multi-Chain Smart Contracts and mDapps

The Overledger Network — also known as the Overledger DLT Gateway — is designed to be interoperable with Bitcoin, Ethereum, and Ripple, as well as with R3’s Corda, ConsenSys’ Quorum, Oracle’s blockchain platform, and with Hyperledger’s Fabric and Besu protocols. It accomplishes this through the utilization of its standardized open API framework, which allows developers to create mDapps  —  or multi-DLT applications  —  for various uses on their preferred network in a simplified interface. The system also allows developers to add support for several chains for each application, meaning an mDapp built with Overledger could run on the Bitcoin, Ethereum, and Ripple networks at the same time.

Unlike most traditional decentralized applications (dApps), mDapps are able to exchange data between many distributed ledgers simultaneously, facilitating cross-chain atomic swaps and multi-ledger tokens (MLTs). These functions interact through multi-chain smart contracts that can be leveraged on-chain and off-chain to allow for the exchange of data between different platforms. Overledger multi-chain smart contracts can be written in most programming languages on a wide variety of DLT or blockchain systems.

In addition to providing access to a marketplace of features, the Overledger Network connectivity system is designed to guide client organizations and product developers through various customization parameters. Products and networks can be optimized towards levels of openness, privacy, and security, depending on the needs of a particular organization or project. For enterprise blockchain systems specifically, this includes the customization and use of public, consortium, private, and hybrid blockchain solutions.

The Overledger Network enables deployment and development of proofs of concept, testnets, and development on technology that has yet to be publicly available in its final version. In addition to Ethereum and Bitcoin, the Overledger API is compatible with Binance Smart Chain (BSC), Stellar, IOTA, EOS, and many other protocols.

Multi-Ledger Tokens (MLTs)

Through Overledger, Quant Network is designed to allow enterprises to mint (create) stablecoins by leveraging multi-ledger tokens via several distinct types of blockchain protocols. Overledger allows MLTs to be used by central banks, financial technology (FinTech) enterprises, traditional banks, marketplace platforms, and micropayment systems. MLTs are also leveraged by different parties for cross-border payment services, supply chain tracking, trading and investing between consortium blockchain systems, and loyalty point voucher systems and other forms of eMoney.

Multi-ledger tokens allow for changes of ownership between different enterprises, meaning that transactions are recorded and stored throughout their entire lifecycle. For example, Quant’s MLT technology is leveraged by the International Monetary Fund (IMF) for use with CBDCs that are sent to and from, and operate on, many distinct blockchain and legacy-based platforms. Multi-ledger tokens have the potential to be utilized for numerous blockchain and financial uses, which will continue to expand as the utility of the technology grows and new business models emerge.

Quant has the capability to facilitate the sending and receiving of funds between the Overledger Network and various Quant crypto platforms and products. The network even supports the integration of cryptocurrency payment services through its cross-chain Overledger platform, allowing customers to buy goods and services with crypto.