QNT crypto rises: What are Quant’s ‘Overledger’ and MLT services?

Highlights

• Ledgers of Ethereum and other networks help developers build and deploy decentralized apps
• Quant says its Overledger can help users build on networks without having to own nodes
• QNT token of Quant has gained of late, but the price has yet to recover fully to give a positive YTD

Every crypto asset is linked to a certain project seeking to provide certain solutions. For example, Ether or ETH is linked to Ethereum, which is a blockchain network that can support ERC-20 coins, and non-fungible tokens. ETH enables payment of fees within Ethereum’s ecosystem. SOL and ADA tokens have the same purpose in Solana and Cardano, respectively.

The above-mentioned blockchain networks let developers build new decentralized solutions like DApps and DeFi platforms. Now, projects have come up to provide developers interoperability within different networks. One such project is Quant. Let’s know more.

Is Quant different from other networks?

Quant claims to offer “Overledger” services, which it says can help users build on a variety of networks including Ethereum, Ripple, and Bitcoin. The Quant project provides standard APIs that can work with the networks of other blockchains so that developers can build without owning nodes.

Besides, the ecosystem supports the minting of stablecoins from fiat funds. It is a promising utility for central banks and other financial institutions with its “multi-ledger tokens” (MLTs). MLTs, Quant claims, can represent fiat currencies and enable quick transfer of funds. Quant’s MLTs are also being projected as a solution for companies looking for efficient supply chain processes.

By these measures, Quant appears to be providing multi-ledger support to let developers build on any blockchain network of their choice.

Also read: LPN token: What is Luxurious Pro's price volatility all about?

What is Quant crypto?

Though Quant network’s QNT token has yet to become as huge as ETH or SOL with respect to market cap, it had a billion-dollar market cap as of writing. One of the top 100 cryptos on the CoinMarketCap list, QNT’s trading volume and price were also in green at the time of writing.

Quant crypto can have a maximum supply of a little over 14.6 million tokens, of which over 12 million are in supply right now. Over the past 24 hours, the trading volume of QNT was over US$40 million.

Also read: GMT token rises: How does STEPN differ from other metaverses?

What is QNT token's price?

Though the price has appreciated recently, QNT token is still trading below its price on January 1. A negative year-to-date (YTD) places QNT in the league of BTC, ETH and many other cryptos. The price at the beginning of this year was nearly US$180, which dropped under US$90 by the end of January.

After reclaiming US$150 in early February, QNT token again entered a volatile phase. At the time of writing, it was trading at nearly US$115. The volatility of Quant crypto and other major assets like BTC makes QNT crypto price prediction difficult.

Data provided by CoinMarketCap.com

Bottom line

Quant is claiming to provide interoperability with the help of its Overledger services. The multi-ledger token is another major product of the ecosystem. QNT token has shown price volatility so far in 2022.

Also read: Deciphering debate around Bitcoin as reserve currency

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