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To buy QNT crypto, you’ll need to sign up for a crypto exchange (or a trading platform that is connected to an exchange). One of our favorite places, no surprise, is Wealthsimple. It’s the first regulated crypto platform in Canada. It’s completely encrypted.
What QNT is
Quant crypto (QNT) is a token that helps connect blockchains — the technology that underlies all of crypto. Why do blockchains need to be connected? Blockchains tend to be distinct networks with few bridges between them, and for developers trying to build a business on blockchain technology, this can be incredibly frustrating.
To exist on several blockchains at once, you might have to build the same thing many, many times, in many different ways — and that can be expensive and time-consuming. The Quant Network looks to solve that. Its system enables developers to build across multiple blockchains in one go.
Buy and Sell Bitcoin, Ethereum, and dozens more cryptocurrencies with Wealthsimple. Sign up and Trade here.What the QNT token does
It helps the Quant Network run. It’s what developers use to buy licenses for the platform and pay other fees. It’s also how rewards are paid out.
For people who aren’t trying to build a blockchain business, the QNT coin can also just simply be a token that you buy and sell for speculation. Though QNT price prediction is a complex game: The crypto market is notoriously volatile, so the QNT price can rise and fall quite quickly.
What the Quant Network Makes Possible
The star of the Quant Network is called Overledger. Overledger is kind of like an operating system that you could use on all kinds of computers — only instead of computers, it can be used across all kinds of blockchains. It’s like having a common language that different blockchains can speak to one another, enabling them to share apps, marketplaces, and other services.
By connecting crypto networks, Quant claims it will unleash the full potential of the blockchain — reducing redundancies and letting the ecosystem grow more quickly. Quant also believes that connecting blockchains will enable different kinds of blockchains to thrive, since it means all blockchain apps no longer have to pile on to a single blockchain with a single set of priorities and ideals.
Quant’s main competition — and its main advantage
The Quant Network is not the only effort to let different blockchains work easily with one another. There are various token bridges that help users move crypto tokens between blockchains. And there are several other growing technologies that help developers build on various major blockchains at the same time — including a system designed by the popular Ethereum blockchain, called the Ethereum Virtual Machine.
But one thing the Quant Network is particularly good at is connecting not just major blockchains, but smaller, private blockchains. These blockchains are closed systems. Only a select group of businesses may be allowed to exist on them in the hope of creating even more privacy. Overledger works well with several private blockchain networks, helping much more of the blockchain ecosystem work together than just the big names.
Frequently Asked Questions
There are 14,612,493 QNT coins, and that’s the maximum supply there will ever be. One caveat: according to Coinmarketcap, only a little over 12 million of those tokens are circulating as of April 2022. The rest are currently being held by the company.
QNT works in the Quant Network, which enables developers to build apps and other businesses across multiple blockchains at once. (Typically, blockchains are distinct ecosystems, and so without something like the Quant Network, developers may have to build the same thing over and over, for each blockchain it wants to exist on.) These developers use QNT to buy licenses and pay fees on the Quant Network — as well as to earn rewards.
We can’t tell you that. No one can! What we can tell you is that the crypto market is notoriously volatile. Prices suddenly swing up and down. So if you’re willing to risk losing what you invest for the sake of potential gains, QNT could make sense as part of your portfolio.
Typically, individual crypto tokens like QNT aren’t the subject of regulation. More often, regulators put restrictions and requirements on the platforms that people use to buy, sell, and trade crypto.
QNT is typically referred to as a token, though it wouldn’t necessarily be wrong to call it coin. The bigger difference in definitions is between “cryptocurrency” and “token.” A cryptocurrency is the native token of a particular blockchain. For instance, the Ethereum blockchain runs on the ETH cryptocurrency. But for apps and other systems that are built atop a blockchain, their coins are typically called “tokens.” That said, it’s not a big deal if you confuse “token” with “cryptocurrency” — and especially not if you just use “coin.” A lot of people use the terms pretty interchangeably.
Last Updated June 14, 2022
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