London based Quant Network (website) is set to unveil their blockchain operating system (OS) Overledger later this year. The goal for Overledger is to enable communication between two completely separate blockchains. Quant is also designing their highly anticipated blockchain OS to seamlessly connect the internet and existing networks to blockchain.
You can’t go anywhere these days without someone talking about blockchain. The last time we’ve seen something with this much promise was the invention of the internet itself. However, the technology is still very young and there are some pretty serious limitations. While more and more businesses and consumers are turning to blockchain everyday, mass adoption is still a challenge due to these limitations.
The Quant Network founders, led by CEO Gilbert Verdian, have identified a blockchains inability to communicate and work with other blockchains as the major modern-day limitation of this promising technology. They believe that in order to unlock its true power, a process must exist that allows for seamless communication and recognition of transactions across multiple blockchains.
“Consider this: Why can't the smart contract include code executed on other blockchains as part of its process?” - Quant Network Website
Enter Overledger.
Quant Network’s patented blockchain operating system seeks to remove these limitations. Overledger will allow for interoperability between blockchains as well as connecting existing networks and internet. Maybe even more significant, Overledger will also allow developers to build applications across multiple ledgers. These are referred to as multi-chain applications or “MApps”. Mapps would allow developers to build solutions utilizing technology from multiple blockchain technologies rather than being limited to just one.
According to Quant Network’s CEO, Gilbert Verdian explains, “Overledger ensures that companies and developers aren't restricted to or dependent on a single technology. Instead, they have the flexibility to easily migrate to another technology when required.”
Overledger won’t be the first or only system attempting to remove current blockchain limitations. So what sets them apart? Most other systems are being designed with added complexity and limitations. The Quant Network has a unique and solid plan: simplicity. They aim to take a complicated technology and make it easier for everyone to use. Different blockchain protocols and networks will allow for distributed applications to communicate with each other without the need to utilize external gateways.
More information: Quant Overledger White Paper
The Team Behind Quant
The other thing that sets Overledger apart from other systems aiming to tackle the problem of blockchain interoperability is the team behind it. Quant Network boasts an impressive team Led by CEO Gilbert Veridian, Chief Strategist Paolo Tasca and CTO Colin Paterson.
CEO - Gilbert Verdian: 20 years of high level cybersecurity experience at Cin the financial services, government, consulting and industry sectors. Verdian recently left his role as Chief Information Security Officer of Vocalink — a Mastercard company, where he was responsible for the Security of the UK’s payment infrastructure for the Bank of England.
Chief Strategist - Paolo Tasca: The founder and Executive Director of the Centre for Blockchain Technologies at University College London, the world's largest blockchain centre. He is a digital economist with an economics background in central banks.
CTO - Colin Paterson: A technology innovator with 20 years of experience in information, cybersecurity and AI across the financial services, government and industry sectors.
Chief Architech - Jean-Paul de Jong: 30 years industry experience across government and private sectors.
Lead Developer - Andrew Retmanski: Extensive background in enterprise development and software solution architecture
What is coming next?
Quant plans to finalize the SDK and libraries in Q3 2018. Developers and enterprizes can start using this open source software for creating next geneartion multi-chain applications. The Quant App store is slated to roll out by the end of 2018 so these apps can be published and start earning Quant tokens.
Here are the upcoming items on their roadmap:
Quant Token Metrics:
Ticker: QNT
Platform: Ethereum
Type: ERC20
ERC20 is a technical standard used for smart contracts on the Ethereum blockchain for implementing tokens. ERC stands for Ethereum Request for Comment, and 20 is the number that was assigned to this request. The clear majority of tokens issued on the Ethereum blockchain are ERC20 compliant. -wikipedia
Conclusion:
If Quant is successful, consumers and businesses will have the ability to interact with blockchains in ways that are not a reality today. This is certainly an ambitious goal but the team at Quant is more than talented enough to pull it off. In addition to the wealth of experience and knowledge they bring to the project, the are also committed to collaborating and forming strategic partnerships to address all challenges that hinder blockchain technology (ie. Accord Project and HUW Hamberg University).
The future of blockchain technology is bright as long as great minds are willing to come together for the greater good. Quant Network is at the forefront of that movement.
Disclaimer: None of the above is a financial, investment or legal advice. I am not a financial, investment or legal advisor. The above is purely my personal opinion and you should always do your own research before investing in any ICO and understand the risks associated with the same.
User: Mark5w11