Since the emergence of Bitcoin in 2009, important advances have been made in blockchain technology. Although, despite its remarkable rise, it still faces several challenges, with the lack of interoperability being a main issue. The complex and individualistic nature of blockchain operating systems makes it uphill to accurately measure progress. This is of concern to developers designing software architectures and businesses using blockchain. Interoperability and compatibility among distinct blockchains are hindered by their unique designs. Without going through a time-consuming and resource-intensive process, these blockchains can’t effectively share information and data.
The absence of interoperability is a main threat to the global adoption of digital currencies. With the skepticism arising from the restrictions and prohibitions imposed by several nations, traders are looking for a solution. The QNT network emerges as a potential answer to this predicament, offering the possibility to bridge the gap and enable seamless communication between disparate blockchains. In order to see more, you can visit Quantum AI trading strategies.
What is Quant Network?
QNT network is a prominent blockchain technology company that has set its sights on achieving unparalleled interoperability among diverse blockchain networks, catering to diverse use cases. It serves as a unifying platform, connecting distinctly distributed ledgers within the crypto space. Moreover, the company has established the Overledger Network, a decentralized network that brings together a wide array of distributed ledgers.
Unlike many other blockchain networks, QNT Network operates under a licensing model rather than being an open-source project with patented technologies. This means that interested parties must obtain licensing rights to utilize the network. Quant Network primarily focuses on supporting enterprise-oriented blockchains, including JP Morgan’s Quorum, R3 Corda, and Hyperledger Fabric. It also extends its support to leading cryptocurrencies like Bitcoin, Stellar, Ethereum, Binance Chain, XRP, and EOS.
How does Quant Network work?
The QNT Network was explicitly developed to address common barriers related to communication, interoperability, and scaling in blockchain networks. To achieve this objective, the network’s design involves matching distinct protocol layers to tasks that align with their respective strengths and capabilities.
Messaging Layer:
The Messaging Layer within the Quant network focuses on the transfer of information and data. Metadata plays a crucial role in interpreting messages and facilitating communication between different blockchains by translating them into formats conceivable to each specific blockchain. This layer enables seamless data transfer and communication across disparate blockchains, to increase interoperability within the network.
Transaction Layer:
The Transaction Layer plays an important role in the QNT Network, prioritizing the storage of transactions. Within this layer, a combination of diverse and separate ledgers is utilized to consolidate related operations. These transactions are then verified across the blockchain network. Once a transaction has undergone validation, it becomes immutable and can’t be invalidated under any circumstances. The Transaction Layer serves as the foundation for achieving consensus across multiple blockchains, facilitating the essential processes for interoperability and ensuring the integrity of transactions.
Application Layer:
The Application Layer serves as the top layer of the QNT network, responsible for governing the other layers by establishing communication rules that all participating blockchains must adhere to. By leveraging these four layers, developers have the flexibility to define specific tasks and functionalities. For instance, they can enable a Dapp (decentralized application) to transfer tokens to a specific network once it has been developed. The Application Layer provides a framework for the seamless integration and coordination of blockchain applications within the QNT ecosystem.
Closing thoughts
QNT Network offers a robust blockchain platform tailored for financial institutions and enterprise software solutions. Designed for the web3 era, it provides user-friendly and future-proof systems to meet the needs of the evolving blockchain landscape. Through strategic partnerships and continuous enhancements to its interoperability capabilities within Overledger, QNT demonstrates its commitment to driving advancements in the blockchain space, making it a project worth monitoring in the years to come.
