Hey everyone, I’ve got a question buzzing in my head for a while now and can’t help but figure it out. It’s about the Quant Network and whether it’s built on Ethereum or not. Hopefully, some crypto-knowledgeable folks out there can shed some light and help me understand this.
From the research I’ve done so far, I’ve come to know that Quant Network is dubbed as a blockchain operating system providing interoperability between multiple blockchains. However, it’s not entirely clear to me if this network has its roots in Ethereum. As far as I’m aware, several tokens and projects have originated from Ethereum thanks to its robust and adaptable platform.
Also, I’ve come across certain tidbits that suggested the Quant Network might be build upon its unique blockchain. Despite all the info, for some reason, I’m still having a hard time comprehending if it’s a standalone system or an offshoot of Ethereum.
I’d really appreciate it if any of you could provide solid information regarding this matter. How is the Quant Network related to Ethereum – if at all it is? And if it isn’t, what might be its underlying technology, then? Looking forward to hearing your thoughts on this!
You’ve hit the nail on the head with your description of Quant Network as a blockchain operating system designed for interoperability. It lets different blockchains communicate and work together. But, here’s the interesting part – Quant isn’t built directly on Ethereum, nor does it have its exclusive blockchain. Instead, it functions as a layer over multiple blockchains, Ethereum being one of them.
That’s correct, friend. The Quant Network isn’t a byproduct of Ethereum. But Ethereum is indeed one of the platforms it interacts with, amongst many others. It’s designed to work alongside, and enhance the functionality of existing blockchains, so it isn’t anchored to just one particular technology. The distinctive feature of Quant is this very ability to provide a channel for intercommunication between diverse blockchains. Your question was well thought, and I hope this clears things out for you!
Adding to what Strategic0 mentioned, it’s important to note the capabilities of Quant’s technology, specifically its core product – Overledger. Overledger doesn’t just connect blockchains but also networks (existing and future) to each other. It operates on top of blockchains, enabling the development of decentralized multi-chain applications (MApps). This allows developers to leverage the strengths and features of different blockchains.
The relationship between Quant and Ethereum becomes clearer when you consider their roles in the creation of MApps. While Ethereum provides a strong foundation for building decentralized applications (DApps), Quant enhances Ethereum’s usability by enabling these DApps to function across multiple blockchains. By offering this capability, Quant is allowing Ethereum DApps to tap into features of other blockchains, something that was previously not possible.
Lastly, be aware that the Quant token QNT, initially released as an ERC-20 token on the Ethereum blockchain, is utilized for access to the Overledger system and for licensing and transaction fees. In conclusion, while Quant isn’t built on Ethereum; Ethereum plays a significant part in the Quant ecosystem. The connection lies more within the interaction and mutual enhancement of their independent technologies.