Quant's new system is called Overledger. Unlike a traditional blockchain, it has an over-layer that can host applications accessible via any blockchains that are integrated with Overledger. The Quant team views this as an operating system for Mapps (Multi-chain applications).

Since Overledger bridges several integrated ledgers, it is a chain containing blocks of the different chains – e.g., a block of the Overledger can include one or more blocks of different blockchains.

The Quant team devised the architecture similar to the OSI and TCP/IP model for the Internet, funneling the tasks among four different layers.

Transaction Layer

As the underlying layer, the transaction layer registers and stores transactions coming from the different integrated blockchains or ledgers. It registers all necessary chain activity leading up to consensus reach on the various blockchains. Obviously, all transactions executed on a specific blockchain only have an impact on their own network – Overledger only listens and registers each chain’s individual activity.

Messaging Layer

Within the messaging layer, all information is parsed, and relevant data is filtered from every individual ledger. Information can represent transaction details, smart contracts, or metadata. As a logical layer, it stores all transaction information and any messages included within transactions of different applications. Quant aims to utilize the messaging capabilities of blockchains not only to serve as complements to transactional details but also to be used for more complex application logic.

Filtering and Ordering Layer

In this layer, a set of rules filters a small set of messages and transactions and determines their processing order, regardless of the sequential position held in their respective ledger. The duty of this layer is creating connections among different messages parsed in the messaging layer. In the case of metadata, this is the layer where validation checks are done on out-of-chain messages, to avoid spam messages and identify whether there is additional application logic to be executed.

These validation checks also ensure that application-specific requirements can be set on transaction data. For example, the application may only accept transactions from a particular address or may need a certain amount of coins to be moved. Therefore, applications will only consider valid messages that meet the specified criteria.

Application Layer

Applications have the chance to communicate with each other by pushing messages through the messaging layer. As long as messages are compliant with the filtering rules of the receiving application, they can flow through the Filtering and Ordering Layer to the Application Layer.

Messages can update the state of an application. Different applications can share the same messages or can refer to messages of another application.

Overledger

Overledger is the main product of the Quant Network. It is described as a blockchain operating system that connects different blockchains and networks. Overledger, as such, solves the problems of single-chain dependency by increasing communicability among blockchains. 

Although Overledger shares common technical aspects with some of the existing projects, it separates the business logic from the underlying ledger technologies. This means that applications can exist on different ledgers at the same time, with the ability to communicate with each other. Communication among blockchains happens on a logical layer, which sits on top of the transactional one.

This enables users to build decentralized multi-chain applications that are not tied to a single blockchain. It also makes porting existing enterprise applications much easier onto distributed or decentralized systems, since it offers some flexibility after deployment.

Atlas   Quant Atlas is a product that aims to enable open banking via an ecosystem wherein companies can offer fast payment methods and innovative banking products. The product allows for cross-border authorization and transaction validation as well as an easy way to port banking solutions to different jurisdictions. As a result, a banking or financial institution can have a global reach while offering a well-defined set of products, regardless of the geographic location of the consumer.

QNT is the ERC-20 token of the Quant network. The QNT token is regulated by the Swiss Financial Market Authority (FINMA) as a utility token, which is intended to provide digital access to an application or service. The token is used to access Quant Network’s Overledger and communicate across different blockchains. The token can also be used to access existing MApps.

The demand for QNT tokens is mostly dependent on Quant Network’s business model. Enterprises will be required to pay annual licensing fees to use and build on Overledger. The cost of the license fee will be individually calculated. In addition to that, enterprises will have to pay platform and consumption fees for deployed applications.

At the same time, developers that build applications on top of Quant will also need to pay a yearly licensing fee in QNT. All transactions on the network related to their application will also have to be paid by the developers. Developers, on the other hand, will have the possibility to monetize their applications to charge users a subscription, a recurring price, a one-off price, or an in-app fee. 

In order to understand QNT Token & its utility in more detail, we suggest you read these 3 articles:

• "Utility Paper"
• "A deeper look into the Quant Network Utility Token (QNT) valuation dynamics and fundamentals"
• "Quant Network’s Overledger: Part Seven— The QNT Token"