Quant (QNT), the utility token of Quant Network, has skyrocketed over 70 percent after being listed on Binance last week.
QNT was trading at US$98 before it was listed on the exchange, reaching US$184, according to data from CoinGecko. It recorded a 24-hour trading volume of over US$70 million and at the time of writing was priced at $168.92.
QNT Gaining Traction in the Market
Quant Network is an ambitious project created and currently led by Australian tech innovator Gilbert Verdian, a graduate of the University of Technology Sydney, now living in London.
The project offers a Multi-Ledger Token System ( MLTS ), which removes single DLT (Distributed Ledger Technology) limitations by allowing assets to run on multiple DLTs at the same time. Verdian tweeted that Quant’s MLTS could allow CBDCs to be interoperable domestically, enabling cross-border transactions.
Verdian came up with the idea of using blockchain standards to ensure interoperability between DLT/blockchain implementations and non-DLT when he was the chief information security officer for eHealth NSW five years ago.
Standards enable blockchain platforms with guidance and best practices on what is required to achieve interoperability to reduce the risk of a fragmented ecosystem. It also prevents technology lock-in by providing options to move between technologies and, during implementation, clients can align to standards that make it easier to implement with confidence in continued compliance.
Seq official summary
Thanks to his innovative work, Verdian has become a recognised leader in the industry, joining the likes of Dr Jiangshan Yu, an Australian researcher from Melbourne’s Monash University who won a 2020 IBM Academic Award.
More Companies Using Multichain Blockchains
Multichain blockchains are growing in popularity daily as their inherent interoperability allows companies to securely exchange data between two sovereign blockchains.
In March, Cosmos Protocol, the company behind the ATOM token, voted to include the IBC protocol, which allows communication between blockchains without limitations or extra steps.
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