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One of the biggest winners of last week was Quant Network. This is largely attributed to the Jan. 30 announcement that they would be listed on Bittrex. This is essentially the first "real" exchange on which they were rated. They therefore naturally experienced a sharp rise (26.65% over the last 7 days).
The important thing is to know if there is any benefit to removing from this room or if the peak has neutralized it. As for the 24-hour volume of $ 1.3 million, which reflects a marked interest in what remains of the altoin.
The missing network
Quant Network has been designed to deal with the problem of large-scale communication between blockchains. At present, it is very limited, which greatly limits the usefulness of blockchain technology in many sectors.
Quant Network's key project is OverLedger, which works like a big book of great books (hence its name). Its meta-gateway function will create a connected network of block strings and will form Quant Network's "operating system." Uninitiated people find it quite absurd that an intelligent contract on one platform is not recognized by another blockchain platform, and the development of multiple decentralized channels on an Internet scale will solve this problem and help Quant Network to achieve its objectives.
The three main goals of the company all work together to promote the mission of a highly connected network. The first objective of the network is to develop an interface to connect blockchains and networks. Second, they would like to bring existing networks of industries closer, ranging from financial services to block chains. Finally, they predict that OverLedger allows developers to create multi-channel applications (similar to the Ethereum development arc).
A strong business case
The idea of a multi-channel development platform is not new. There are many companies in this space, some of which have already been described. Network presents two interesting aspects from the point of view of competition: sources of revenue and the usefulness of the token.
The company anticipates 4 major revenue streams during its development. First, they will have the Quant App Store where developers can build and market MApps (multiple strings). This contributes doubly to Quant's progress, as even if an app is promoted as free by its developer, users will need some inventory of QNT tokens to use.
The next revenue stream is SaaS products for certain industries, such as financial services, supply chain management, government services and healthcare. These are all areas where inter-channel usability will be a necessity because of existing systems, so you can expect a monetizable demand.
Then you have business and middleware products that would target certain areas that have an increased need for connectivity and gateway networking. Fianlly aims to transfer a large portion of its intellectual property (IP) rights to blockchain companies and internet service providers.
And the future?
The utility of the QNT proprietary token is strong. They are needed to access the platform for both developers and customers. In addition, a certain number of QNT tokens will have to be "implemented" to be able to use certain free applications. This use case creates a natural demand within the ecosystem. Assuming there is a strong demand for multi-channel applications, the future of QNT should be promising.
Ranked 125th in terms of market capitalization, the QNT is much more of a mid-size piece than the altoin. With the announcement of January 30, they have experienced a spike, but it seems that much remains to be done according to their plans of income generation.
Disclaimer: The author is the owner of Bitcoin, Ethereum and other crypto-currencies. He holds investment positions in coins, but does not engage in short-term or day trading.
The selected image is a courtesy of Shutterstock.
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