The future of blockchain technology looks promising, but blockchain technology still faces several obstacles before this innovation reaches its full potential. One of these obstacles is interoperability. Interoperability means that different blockchains and/or legacy systems (older software) can communicate with each other by sharing data.
Quant Network wants to create one standard approach for blockchains. As a solution, they have developed a blockchain operating system: Overledger OS. Overledger OS is an interoperable blockchain operating system. In other words, it allows those using the Overledger OS to interact with multiple different blockchains simultaneously.
The Overledger OS is intended to be the Windows or macOS of the future network of blockchains. The interconnection ensures that the most valuable aspects of each blockchain can be combined. Overledger also connects legacy systems with blockchains. As Quant’s CEO Gilbert Verdian states:
“Overledger OS lives on top of blockchains but is not a blockchain itself”
To use the Overledger OS, you will need to pay in Quant for each interaction, which creates a value for the Quant token. Also, licenses for the use of Overledger OS will be paid with the Quant token.
Quant already has an impressive list of partners.
One of Quant’s use cases concerns Multi Ledger Tokens (MLT) for Central Banks, banks, fintech, trading consortia, closed-loop payments, marketplaces and micropayment platforms. Multi Ledger Tokens are tokens that can be issued on multiple blockchains simultaneously. These tokens are issued as stable coins and have the same value across these different networks.
A useful example is implementing Central Bank Digital Currencies (CBDCs). Quant’s technology ensures that CBDCs only need to be implemented once but can then be used on several blockchains.
The roadmap of Quant Network looks very promising. Recently, Quant Network has launched several versions of its Overledger OS. Since the beginning of 2021, it has been possible to access the Bitcoin, Ethereum and Ripple network through the Overledger OS. End-users can now access three different blockchains through a single interface.
In the upcoming release, community members will be able to use external connector gateways. This means that community members can become part of the Overledger OS network. For more information on how a gateway works, please read our previously published Quant Network report.
Quant is currently in a consolidating phase.
In April 2020, an upward trend started, with the price gradually rising between the upper and lower limits of the rising trend channel. After breaking out of the trend channel at the end of January 2021, an upward movement took place, after which the price found resistance at $44. We are now 119 days into the consolidation phase, with the price moving between $31 and $44.
A consolidation phase after an upward movement is usually a good sign to gather strength and then continue the trend. However, the support at $31 must hold. If the price breaks below this price point a downward trend may start. If the price breaks above $44, a rise towards the psychological barrier of $100 is not inconceivable.
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