Quant network’s native cryptocurrency QNT spiked over the past month as the project has launched its own tokenisation products for developers. Just like the ERC-20 token on Ethereum, users will be able to create their own digital assets.
The network went even further recently when it announced its own non-fungible token (NFT) standard, QRC-721
The Quant token price surged to a high of $132.84 on 8 August 2022. It has since fallen below the key $100 psychological barrier. Despite prices easing over the past few days, the cryptocurrency’s value has more than doubled from the $42.95 seen on 18 June 2022, data from CoinMarketCap shows.
Are you interested to learn more about the Quant network and the outlook for QNT’s future price? Read on for the latest project news and Quant crypto price predictions.
What is Quant crypto?
The Quant network is a blockchain technology company that provides an interoperability system between distributed ledger technology (DLT) networks. It provides application programming interface (API) software to enable transactions across different blockchains.
Unlike other blockchain projects, Quant network is closed-source. Its products are patented and users are required to pay licence fees to use it. As Quant is not an open-source project, it does not disclose the details of its core technology.
Its core product is Overledger, which Quant claims is “the world’s first blockchain-agnostic API gateway … offering access to any blockchain or other distributed ledger”. The operating system could enable access to private and public networks.
Quant says its multi-chain Overledger enables companies to access wider markets by deploying applications on any blockchain in a cost-effective way. Companies can develop applications on blockchain networks without specialist knowledge, which reduces development time and the costs of hiring developers.
At the time of writing, Overledger API functions could be deployed on Polkadot Mainnet, Polygon, XDC, Bitcoin, Ethereum and XRP Ledger.
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How does Overledger work?
“One of the challenges with digital ledgers is they exist in silos. Different structures and working mechanisms make it harder to build a common interface. Overledger addresses this issue sitting on top of them rather than struggling to match them up,” said Quant in its whitepaper published in January 2018.
Quant described the proposed architecture for the network as “the Open Systems Interconnection Model (OSI) for the internet, redistributing the tasks among four different layers, built on the transport layer, since most blockchain technologies are built on the internet”.
OSI is a conceptual networking system framework, where communication between computer systems is split into seven different abstraction layers.
The team behind Quant
Quant was founded by Gilbert Verdian in 2018. He is the company’s CEO. Verdian is a cybersecurity expert and has held senior technology management positions in several companies, including NSW Ambulance, PwC, Ministry of Justice, BP and HM Treasury.
The company’s chief technology officer is Peter Marirosans, who has been with Quant since November 2019. According to Marirosans’ LinkedIn profile, he was the founder and director at Bear Essential Computer Service Ltd for 23 years. The company had two shareholders and was dissolved in 2016, data from Companies House showed.
Quant coin supply and functions
Quant network launched through an initial coin offering (ICO) in May 2018. According to data from icodrops.com, the ERC-20 Quant coin (QNT) had an initial maximum supply of under 45.5 million tokens – 68.2% of supply was offered for sale at 420 QNT per Ether (ETH). By the end of the token sale on 11 May 2018, the ICO had raised $11m, the data showed.
Four months after the ICO, Quant implemented a coin burn which reduced the overall QNT supply.
According to CoinMarketCap, 9.9 million QNT tokens were sold during the ICO, 2.6 million were reserved for the project’s operation, 1.3 million were allocated to the company’s founders and 651,000 were issued to advisors.
As of 31 August 2022, QNT had a circulating supply of 12 million coins and a maximum supply of 14.6m QNT.
Developers need QNT tokens to use the Quant network. Following the purchase of a licence to use Quant platforms, QNT tokens are locked for 12 months.
How and where can you buy QNT crypto? The token is listed on several major cryptocurrency exchanges, including Binance, KuCoin, Coinbase and Kraken.
Quant (GNT) price history
The Quant price chart looked almost flat from its launch in 2018 until the beginning of 2021, when it started to climb. QNT started the year at $11.23 on 1 January 2021 and reached an all-time high of $393.54 on 10 September 2021.
The token tumbled in the following months to hit a low of $42.65 on 13 June 2021, before rebounding in the second half of June, data from CoinMarketCap showed. QNT closed the year at $178.82.
QNT/USD price chart
Source: CoinMarketCap
Quant price outlook 2022
2022 has been tough for the crypto market in general. The latest crypto crash wiped a trillion dollars from the market’s capitalisation. According to CoinMarketCap, the total crypto market cap of $2.18trn on 1 January plunged to $1.01trn on 18 June 2022.
The Quant token price followed a similar pattern, declining from $179.16 on 1 January 2022 to a low of $42.95 on 18 June 2022.
However, the cryptocurrency has more than doubled since then, and was trading at $97.25 at the time of writing on 31 August. Will QNT continue the latest uptrend?
Latest Quant news
June 2022 was an eventful month for Quant. On 30 June it launched the tokenisation product Tokenise, which enabled developers to create interoperable tokens and digital assets on Ethereum, Polygon and XDC without the need to write “a single line of code”.
Through Tokenise, developers can create and deploy the interoperable QRC-20 token, which is based on Ethereum’s ERC-20 rules for fungible tokens. QRC-20 has the same definitions and structure as ERC-20 tokens, which enables users to create tokens, approve them, decide how they are transferred, provide information on account balances, and set limits to the total supply.
According to Quant: “QRC-20 tokens will be blockchain agnostic and work across multiple distributed ledger technologies (DLTs). They can be implemented on-chain (public DLTs) or off-chain (private DLTs) to enable complex operations between different DLT technologies such as cross-chain atomic swaps and multi-ledger tokens.”
In keeping with its tokenisation mission, Quant announced its own non-fungible token (NFT) standard on 22 August. The QRC-721 standard was created with interoperability in mind and an enterprise focus.
Could its venture into NFTs be the key to helping the blockchain become mainstream, widening access to enterprises, collectors and even artists?
Quant price prediction: Targets for 2022, 2025 and 2030
Several AI-driven price forecast providers held bullish Quant coin price predictions as of 31 August 2022.
TechNewsLeader had one of the most positive outlooks for the project. The site’s Quant price prediction for 2022 gave a maximum price of $82.66. However, it expected prices to have surged past $1,000 a token in the second half of this decade. Its Quant price prediction for 2030 was an optimistic value of $1,563.76 .
PricePrediction was also positive. Its QNT price prediction expected an average QNT token price of $146.23 in 2022, rising to $305.83 in 2024. The Quant price prediction for 2025 projected the token to have hit $448.65. By the beginning of the next decade, the QNT price could have surged to $2,933.32, the data showed.
In contrast, WalletInvestor’s QNT price prediction was bearish, anticipating the token’s value to fall to $9.54 in the next 12 months.
Please note that analysts’ Quant crypto price predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before making any trading decision, and never invest or trade money you cannot afford to lose.
FAQs
Is Quant a good investment?
Quant has been trending after launching its Tokenise project, which gives developers a chance to create their own digital assets. But its native QNT token is down 10% in the past seven days, as of 31 August 2022.
Whether Quant is a good investment for you or not will depend on your investing goals and portfolio composition. Cryptocurrency is an extremely high-risk investment. You should do your own research, and never trade what you cannot afford to lose.
Will Quant go up or down?
No one can say for sure. Analysts’ Quant price predictions were mixed as of 31 August 2022. TechNewsLeader and PricePrediction expected the Quant token price to rise in the next few years, while WalletInvestor believed the coin value could crash to under $10 in the next 12 months.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether QNT is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors.
Keep in mind that past performance is no guarantee of future returns, and never invest money that you cannot afford to lose.
Should I invest in Quant?
After falling below $50 in June 2022 with the wider crypto crash, QNT has shown a strong recovery and its price has more than doubled. However, this upward trend is waning with Quant down 10% over the past seven days.
Whether you should invest in QNT is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research. Never invest more money than you can afford to lose, because prices can go down as well as up
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