- Quant is a fast-growing blockchain that seeks to connect blockchains and networks without reducing their efficiency
- The Overledger 2.0.5 has been launched by Quant to bridge Stablecoin, NFT, and DeFi ecosystems with blockchain payments
- Quant’s future goal is to create a platform that supports the creation and management of interoperable stablecoins, digital currencies, and tokenized assets
- The news of its release has failed to have the desired effect on the price of Quant, with QNT dropping by 11% in 24 hours
Launched in 2018, Quant is building a network that will connect blockchains and networks globally without decreasing the performance and interoperability of the network.
Quant has been gaining traction in recent times as the Overledger network, the project’s backbone, expands. Now developers can build decentralized multi-chain applications (known as MApps) on Overledger. So, how has Quant fared in recent times?
On September 7th Quant announced the release of the double feature Overledger 2.0.5. The upgrade is a big move for Quant because the Overledger 2.0.5 bridges Stablecoin, NFT, and DeFi ecosystems with blockchain payments.
Replying to the news of the release of Overledger 2.0.5, a Twitter user, @Giulio55485330, wrote;
This is the pure essence of interoperability! Great work team $QNT— Dr. Strange (@Giulio55485330) September 7, 2021
Thanks to the update, the Quant network will now natively support blockchain payments to power a new generation of interoperability, payments and clearing and settlement use cases.
The Overledger 2.0.5 supports 25+ digital assets for ERC20 token production, 14 digital assets for ERC20 Sandbox, 20 digital assets for ER721 production, and 7 for ERC721 Sandbox production.
With the new Overledger Payment API, users can now transact and settle between different digital asset types with a few lines of code in only two API calls. In addition, users can also collateralize NFTs with stablecoins such as USDC, DAI and USDT on the network.
The Overledger 2.0.5 launches just one month after 2.0.4 was launched with enhanced search API functionality. 2.0.4 completed standardization of smart contract functionality on the Quant Network by introducing the smart contract read API for blockchains that support Turing complete smart contracts.
The Quant network has announced that future updates will build on the capabilities introduced in their latest releases. The network developers are currently working to ensure that institutions and developers will issue fungible and non-fungible tokens on Quant.
In future, Quant will provide a platform that supports the creation and management of interoperable stablecoins, digital currencies, and tokenized assets.
Quant (QNT) Price Updates
Following the largely positive news about the Quant Network, there has been no sign of an uptrend in the price of QNT. Rather, QNT continues a strong downtrend, dropping by as much as 11% over the last 24 hours.
The recent downtrend is just a correction after a significant pump in the price of QNT. Regardless of the drop, QNT still holds gains in excess of 70% over the last five days.
The five days price chart of Quant (QNT). Source: TradingView.com
Following its recent drop, QNT now trades at $318.208. It is ranked as the 39th largest cryptocurrency with a market cap of $3.84 billion.
On The Flipside
- Over the last 30 days, Quant crypto has jumped by more than 100%, making it one of the fastest-growing networks
- The rapid growth of the network could be detrimental to the price of the QNT token
- Analysts have predicted that if the token is unable to continue the uptrend, a major pullback could see it fall to $278, which is at the 50% retracement level
Quant is one of the lesser-known altcoins, with not nearly as much following as the likes of Chainlink, Solana, Polkadot, or Cardano. However, one thing Quant does have is a community of firm believers in the project.
The Dailycoin team found the Quant community to be particularly hyped about the release of the Overledger 2.0.5, with most speculating that the release will trigger a significant increase in the price of QNT. One user, @factman32, Tweeted;
People are starting to realise that $QNT does what $XRP and $LINK promised to do, don't be suprised to see $QNT trading at $1000+ by the end of the year 🚀🚀$link $ksm $ocean $uos $woo $ada $dot $btc $eth $xdc $vet $sol $atom $doge $xlm $luna $matic $aave $tel $vra $hbar $rsr— The Quantician (@factman32) September 7, 2021
Another user, Dean Calvert believes that,
What an amazing team, changing the digital landscape with every step 👏— ˢᵒˡᵃᶜᵉ ᵒᶠ QᵘᵃNT (@DeanCalvert1) September 7, 2021
Why You Should Care?
Quant is one of the fastest-growing networks, with its blockchain gaining recognition for its potential. The Overledger network gateway already delivers interoperability across different systems, networks, DLTs, and now, crypto payments. With future upgrades, the Quant network will have the chance to compete with the top interoperability blockchain projects.