Not long ago, I was checking out InvestorPlace contributor Chris MacDonald’s fascinating list of cryptocurrencies that could replace Bitcoin (CCC:BTC-USD). One of those is Quant (CCC:QNT-USD), so I dug deeper to see what’s special about the Quant token.
As it turns out, the token powers Quant’s Overledger enterprise software solutions. Moreover, as MacDonald explains, these solutions are designed to provide a link between public blockchains and private networks.
If it’s successful, this network could bring a much-needed interoperability to a woefully fragmented world of digital assets. It’s heavy stuff, let me tell you.
And if your mind isn’t blown yet, then get a load of the QNT token’s price action. I’m guessing you’ll either love it, or run for the hills.
Analyzing the Quant Price
Let’s rewind to March 2020, when traders were panicking about the Covid-19 pandemic. They were dumping just about everything, including cryptocurrencies.
The Quant coin’s price briefly dipped below $2 during that month. In hindsight, we can confidently assert that this was a terrific bargain.
By the end of the year, the token had climbed to $11. That already represents a multi-bagger, but the best was yet to come.
It’s hard to even describe what happened in 2021. Amazingly, the buyers bid the QNT token up to $43 in February, and then $60 in May.
Finally, in June the buyers went into an epic frenzy and pushed the coin’s price up to $94. It didn’t stay there, though.
At this writing, the QNT coin cost is about $72. That’s an unbelievable gain in a year and a half, but the growth story might not be finished yet.
Addressing a Problem
I fully understand if value-focused investors might balk at the idea of buying an asset that’s up by thousands of percentage points.
But in the world of cryptocurrency, massive gains can lead to massive gains. In any case, it probably wouldn’t break your bank to buy one QNT token and hold it as a lotto play.
Really, though, there’s more than just hype and luck here. There’s the potential to construct a bridge between disparate distributed ledger technologies (DLT’s).
As the folks at Quant point out, this disparity is a serious problem as “the lack of simplicity and interoperability across DLTs and their inability to integrate with different generations of systems, is preventing the technology from fulfilling its true potential.”
The proposed solution is a platform that’s both standardized and protocol-agnostic. It’s built to connect “any system to any network to any DLT anywhere in the world.”
That’s a big claim, but Quant’s Overledger Enterprise could actually fulfill the promise of universal interoperability.
As advertised, the Overledger Enterprise platform is the world’s first DLT gateway for businesses.
An API (application programming interface) gateway for distributed ledgers, Overledger Enterprise connects any system to any network or DLT, old or new.
At the core of this platform is Overledger’s modular architecture. This framework “offers universal interoperability through the continuous addition of DLT and API connectors.”
And this connecting technology has a number of features and advantages:
- Easy to install
- Designed to slot easily into any IT operation
- Fully compliant with the strictest regulatory standards
- A simple design, as all connectors are based on a single standards-aligned API
- Provides the levels of security and resilience required by international organizations and governments
- Facilitates easy migration to various DLTs without the need to rewrite DLT applications
With all of that, there’s merit to Quant’s claim, as grandiose as it may be, to deliver universal interoperability.
The Bottom Line
I’m not quite prepared to declare that the Quant token will replace Bitcoin. That would be a stretch, though I can see how some folks might construct such an argument.
Yet, I could easily envision Quant co-existing with Bitcoin. They both could provide different but equally essential functions.
And I can see why some folks would continue to hold on to the Quant token, even after booking life-changing returns.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.