Overledger layers. Supply: Medium
Multi-chain purposes, or MApps, are primarily good contracts that exist throughout a number of distributed ledgers. They permit decentralized purposes to leverage the information obtained from totally different networks to carry out operations in a number of networks concurrently, Quant additionally helps so-called multi-ledger tokens (MTLs) or digital property backed by actual funds in exterior sources. These MTLs can be utilized as stablecoins, loyalty factors, central financial institution digital currencies, that are issued and used throughout a number of distributed ledgers utilizing Overledger know-how.
Every MApp is remoted within the Overledger ecosystem and accommodates the enterprise logic. When creating multi-chain purposes, builders want to find out guidelines on find out how to work together with the Overledger system and with different purposes. If crucial, purposes in numerous networks can talk with one another by placing messages on the messaging layer.
MApps might use so-called treaty contracts to assist good contacts in a single community acknowledge standing and operations by good contracts in different networks. Treaty contracts will be described as good contracts which might be run off-chain for greater efficiency and supply the flexibility to run good contracts throughout a number of blockchains, even these which don’t help good contracts such because the Bitcoin community.
Overledger use case
Let’s say you have got a MApp which represents a market that sells sure merchandise. MApp accommodates guidelines that if the client buys your product in bitcoin, you’ll mechanically pay your product provider in ether, ship some XRP to the supply firm to ship the product to the shoppers, and ship some a part of bitcoin to your personal reserve fund. It means when clients purchase a product, it triggers good contracts in numerous networks to carry out sure actions. The ETH and XRP transactions, in addition to the BTC transaction to the reserve fund, will occur concurrently as soon as the preliminary buyer’s BTC transaction is confirmed.
This is just one potential method to make use of Quant’s Overledger system to realize interoperability and keep operations in a number of networks on the similar time. Another Quant use circumstances might embrace creating interoperable tokens which exist in numerous blockchains or performing cross-chain token swaps.
Quant’s native token
The QNT token is an Ethereum-based utility token that’s meant to supply digital entry to the Overledger ecosystem. QNT tokens should be offered by enterprises and builders in trade for an annual license for utilizing Overledger options. Nonetheless, the worth of the entry is fastened in fiat currencies, that means enterprises and builders don’t must buy QNT for the license. They pay for the license in fiat to the Quant Treasury which handles the conversion of fiat to QNT. QNT funds used for license charges stay locked for 12 months in layer 2 (L2) fee channels.
As well as, each enterprise or developer who desires to run MApps wants to carry a sure variety of QNT tokens. So long as QNT tokens are staked, builders might create and keep their MApps. Builders might monetize their MApps and should use the treasury as a fee processor to cost funds for subscription or one-time transactions. Such monetization is assumed to be achieved utilizing fiat currencies or digital currencies, together with QNT. Finish clients can also maintain and pay with QNT tokens to get entry to MApps and use providers inside the Overledger ecosystem.
The preliminary token provide differs from the present one as a result of the staff behind the venture accomplished a burn of 9,545,765.950989192 QNT. The reason being thought-about to be the ICO which hasn’t achieved set objectives due to troublesome market situations at the moment (bear market). The present complete QNT provide is fastened and accommodates 14,612,493 QNT tokens.
The QNT tokens are assumed to be break up within the following method:
- 9,964,259 QNT — tokens offered through the public ICO, pre-sale, and personal funding rounds.
- 2,649,493 QNT — the Quant firm reserve which is used for analysis and growth, constructing infrastructure, and different functions.
- 1,347,988 QNT — tokens that belong to the corporate founders.
- 650,753 QNT — tokens that belong to the corporate advisors and workers.
The present circulation provide excludes Quant’s firm reserve, which can fluctuate relying on the Quant firm technique.