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My Opinion on Quant Network

I’ve been getting bombarded with requests to look at Quant (QNT) as a serious threat to Ripple. I watched a recent interview with the CEO to form my opinions, and spoiler alert – I was not impressed.

Source Interview:
https://www.youtube.com/watch?v=G1b9TX6rcuI

Tags : cryptocryptocurrencyRipple XRP NewsxcurrentxpoolXPRxrapidXRP Newsxrpbtcxrpeurxrpusdxvia

11 Comments

  1. Glad you brought this to peoples attention. Quant is a wannabe ILP. Overhyped garbage. ILP moves value and is global standard. But there are other interoperability protocols needed to connect blockchains besides just ILP. For example smart contracts and asset states between blockchains Cosmos has IBC to communicate between blockchains and has also integrated ILP into Cosmos. Agoric is funded by both Ripple and Cosmos(Interchain Foundation) to allow for smart contracts to move between blockchains(public and private) and asset states.
    ILP is the standard for moving value but it’s not the end all for connecting blockchains. It doesn’t allow communication between blockchains, only value.

  2. Hey mate! Interesting video.

    I think you are getting a little too defensive. Overledger sits on top of existing DLT stacks, creating the oppurtunity for them to co-exist in a symbiotic relationship.

    They aren't trying to take anything away from Ripple, instead it's the opposite. If Ripple protocol is needed for settlement etc. Overledger allows Enterprise to utilise this network while staying flexible, the Mapps they develop can run on Corda and Ethereum at the same time or swap back to Fabric for example. Overledger is designed to remove single vendor lock in and increase the overall inter-connectivity of DLT. It isn't trying to be some global settlement layer. Sure, it has the ability to swap value across DLT, but its scope is much larger.

    For example, ILP is limited to asset transfer (Atomic Swaps). Nothing wrong with that at all, in fact it works quite well for that market niche. But Overledger is able to do cross-chain smart contracts, including contracts on DLT that don't have a native ability (Bitcoin etc) as well.

    Furthermore, Overledger can connect existing networks, even those non-DLT related.

    I understand where you are coming from, but Gilbert is focused on driving Enterprise adoption of DLT, not replacing Ripple. They have connected Ripple for a reason, the more access their clients have to various DLT the better. It's about collaboration. Again, symbiotic relationships…

    With regards to the token, it is a mandatory license for the infrastructure, the benefits of a token for licensing/consumption costs are: they are fully auditable via a blockchain and immutable, It has the security of private / public keys so nobody can just copy a product key etc, it is programmable so you can automate events to happen once comes out of compliance.

    In addition to that, QNT is used to validate with the option to encrypt and sign every transaction that flows through Overledger with the private key associated with the token. This provides Identification, non-repudiation, privacy etc whilst being immutable on the blockchain.

    The benefit of this model, is they have removed the token velocity problem, with licenses being locked in a smart contract for the period, reducing circulating supply.

    Have a good one mate.

  3. Little do these ignorants know that Colin Paterson, co-founder of Quant, was elected as chair of Hyperledger Quilt to help create an interoperability stack. They are rebooting Quilt
    "We’re integrating Overledger’s API and SDK into Quilt to support multi-chain interoperability use cases"
    The multi billion dollar market cap was written along with the ISO 307 Gilbert Verdian created years ago. They will run the show eventually.

  4. Hilarious how many deluded, salty folks in the comments. No need to take it out on others because you're busy bagholding some shitcoin that's going to 0.

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