The advance of cryptocurrency technology in many ways parallels that of the software itself. While current platforms depend on the ability to easily communicate between operating systems, this was not always the case. In the same way, cryptocurrency lacks an overarching infrastructure to quickly swap between disparate blockchains. Instead, users must pass through some form of exchange – be it centralized or decentralized in nature. Easing this inter-blockchain friction could be a money-making innovation – and one that Quant believes they’ve created.
Quant’s Overledger Distributed Ledger Technology gateway, or DLT gateway, allows users to quickly swap differing assets within the cryptocurrency market. As we’ve seen during previous upswings in the market, infrastructure and user interface advances drive all-time highs. Quant represents the current culmination of the ‘atomic swap’ quest and subsequently allowed them to attain a Coinbase Pro listing. As is usually the case, QNT spiked in price following the listing.
The Distributed Ledger Technology Gateway
Interoperability between blockchains allows more than simply quick trading for investors. Many platforms allow for complex decentralized applications and smart contract-enabled systems. By facilitating quick and relatively cost-effective functions between coins, Quant allows for larger, more interconnected projects – potentially integrating complementary projects. This delivers on the earlier promise of “atomic swaps” that proliferated during the 2017-2018 boom.
Considering the wildly different validation protocols across cryptocurrencies, atomic swaps faced an uphill battle from the start. Quant’s Overledger system greatly simplifies the process – providing one of the first major B2B applications solely for use within the blockchain space. Enterprise solutions have yet to become common in the industry, mostly due to the fiercely individualistic nature of separate projects. Few teams inherently want interoperability – they would rather dominate the space. However, clients looking to build will want to hedge their bets by operating on multiple blockchains – hence Overledger.
Can Quant Continue to Perform?
Quant’s recent rise during a market dip certainly caught investor attention. Having more than doubled, QNT became an attractive choice – but maintaining those numbers may be difficult in the short term. Cryptocurrency projects still thrive on a degree of ‘hype’ and excitement, and Quant’s Overledger is a useful – but not exciting – tool.
Longer-term, Quant may perform better. Their service is critical for expanding blockchain-based applications and appears further along than their direct competitors. Ultimately, success will depend on their ability to attract developers to the platform.