I bought Quant Network. A rocket set to take off
Project I’m referring to is Quant Network
Current price: $42.40
What does Quant do?
Let’s begin with an example. What if I said “Ni hao ma”? (If you know what it means, keep quiet, and read on). It doesn’t make sense right (unless you know Mandarin. Translates to “How are you?”). So to understand the meaning of this, you need a tool which can connect the language you understand with the language unknown to you (Mandarin, in this case). That tool could be – Google Translator, an English-Mandarin dictionary, or the likes. So what the tool is letting you do is CONNECT one language to another.
That’s what Quant is attempting to do. Not with the language of course. But with technology. Specifically, blockchain technology. It’s aiming to develop a technology which connects different blockchains (yes, there are different blockchains). There could be public blockchains, enterprise blockchains, Bitcoin blockchain, Ethereum blockchain – all of these essentially operating in isolation. So the technology Quant is building aims to be a bridge connecting the different blockchains.
Let’s equip you now with a cool term to denote such a connection between blockchain – INTEROPERABILITY. And the technology Quant is developing for interoperability is called OVERLEDGER.
That’s it. That’s all you need to know about what Quant is doing. If you’re interested in reading more, check out this article of theirs which talks more about Overledger.
Bottomline this is BIG. It could really grow huge in the coming years when it comes down to adoption.
Who’s behind Quant?
The company is London based. If there’s just one face you give Quant, that’s of the CEO Gilbert Verdain.
Gilbert’s had loads of experience, two decades I think, in cyber security and distributed ledger technology. Some of his past jobs have included: working at HM Treasury in the UK Government, Chief Information Security Officer (CISO) for the Department of Health. He also established the Blockchain ISO Standard TC307 in 2015 (don’t need to know what that is).
The board of directors has Guy Dietrich and Neil Smit. Who are these two? One is a well recognized investment professional with over 35 years of experience and the other is an American businessman and former CEO of Comcast Cable. The rest of the team is also very strong. You can check them here. A big big plus point when you’re investing in cryptocurrencies.
What about the Quant token? How do I buy it? Where can it go?
Some of the token details:
Symbol = $QNT
How many Quant are totally available? 14,612,493
Market Capitalization of QUANT? At the current price of $42.36, Quant has a market cap of $532 million. It is currently ranked as 89 (which is an indicator on where it stands within crypto. Bitcoin is 1, Ethereum 2 and so on). This is also an opportunity of where it can go. The 10th ranked coin, currently Stellar, has a market cap of $12.3 billion. That’s 23 times the size of Quant. The number 20th project is TRON with a market cap of $4.2 billion, eight times the size of QUANT.
I definitely think this project, given what it is doing and attempting to do, the team it has, definitely deserves a place in the top 20, if not 10. I personally think this project will head into the three digits sooner than later.
Here’s how the price of Quant has moved over the last couple of years. There’s been a sharp spike last month, which is in line with the overall market. Will do some technicals on this in another post.
The intention of this post was to really break it down and explain what this project is and what it’s trying to do to any one. I think crypto has a desperate need to educate people, and that’s my attempt here.
Would love some feedback.