The History of QNT (Quant Network)

QNT, the native token of Quant Network, plays a crucial role within the ecosystem, particularly in enabling interoperability between blockchain technologies. The story of QNT begins with the founding of Quant Network in 2017 by Gilbert Verdian, who had already established a long career in technology and cybersecurity. Verdian's vision for Quant Network was shaped by the challenges he encountered while working across multiple industries, including healthcare and financial services, where integration between traditional systems and distributed ledger technology was difficult. This vision was key in developing the Quant Network and its core product, the Overledger.

The Origins of Quant Network

Quant Network was built with the objective of creating an interoperable blockchain platform that could span all existing and future blockchains. One of the driving forces behind the creation of QNT and Overledger was the recognition of the struggles that businesses faced in trying to integrate multiple distributed ledger technologies (DLTs). At the time, blockchain technology was still in its nascent stages, and projects primarily focused on building isolated systems rather than creating networks that could communicate with one another.

From the outset, the primary use case for QNT was to enable the operation of Quant’s Overledger—the first DLT operating system designed to facilitate cross-chain operability. Overledger was designed to overcome one of the blockchain industry’s major limitations: the inability of different blockchains to reliably communicate with each other. Overledger enables developers to develop decentralized applications (DApps) that can work across multiple blockchains, and QNT serves as a licensing and utility mechanism for this technology.

Key Milestones in QNT's Development

In 2018, Quant Network officially launched the Overledger Network. The team behind QNT positioned the Overledger framework as a means for enterprises to integrate the benefits of blockchain technologies without the need to engineer highly specific DApps for each individual blockchain. The development of this multi-chain architecture helped Quant Network carve out its own niche in the blockchain space.

Another significant step in QNT's growth was its partnership with financial institutions and enterprises to create real-world applications for cross-chain communication. Over the years, Quant Network has expanded its ecosystem and has undertaken integration efforts with a variety of blockchains.