About

Quant Network is a technology company specializing in blockchain solutions. It focuses on connecting legacy systems, decentralized applications, and tokenized assets to improve various business sectors. Its core technology, Overledger, is designed for blockchain interoperability, ease of use, and future-proofing. It is intended to serve financial institutions, enterprises, technology partners, and developers, facilitating the creation of digital economies and new business models on blockchain platforms.

History

In 2016, while working on the ISO Standard TC307 for enterprise blockchains to improve cross-ledger communication, Gilbert Verdian conceived the idea of Overledger. With Overledger, Verdian sought to build a protocol-agnostic API gateway that could connect permissioned enterprise blockchains and public blockchains. This eventually became the foundation for Quant Network.

In June 2020, the Quant team released the first public testnet version of the Overledger 1.0 testbed gateways. The testnet release enabled enterprises to build applications across multiple testnet chains for networks like Bitcoin and Ethereum. In May 2021, the Quant team released Overledger 2.0, which offered improvements to the developer experience, increased stability for cross-platform applications, and migration from its SDK to open API standards. Subsequently, in September 2021, the Overledger Network (OVN) version 2.0 was launched on the mainnet, granting application developers and enterprise users mainnet access to gateways across the Bitcoin, Ethereum, and XRP ledgers.

Notable developments and upgrades in Overledger’s development history include:

1. Overledger Version 2.1.7 (February 2022) - Enabled the creation of QRC-20 smart contracts (similar to ERC-20 token contracts on Ethereum), uniquely designed for multichain token creation using the OVN as an abstraction platform. With this release, developers can create QRC-20 tokens, initiate credit or debit transfers, and pre-approve transfers. An upgraded Version 2.2.2 went live in March 2022, and developers to mint and burn QRC-20 tokens.
2. Overledger Version 2.2.1 (March 2022) - Introduced OVN support for Polygon testnet transactions, enabling users to create and monitor MATIC transactions on the Polygon testnet. An upgraded Version 2.2.3 in April 2022 released Polygon mainnet access to OVN developers.
3. Overledger Version 2.2.4 (April 2022) - Introduced OVN support for Polkadot Westend Testnet, enabling developers to create and monitor DOT transactions on the testnet. An upgraded Version 2.2.5 introduced OVN API support for the Polkadot mainnet.
4. Overledger Version 2.2.8 (June 2022) - Introduced OVN support for Enterprise Hybrid blockchain XDC on testnet.
5. Overledger Version 2.2.9 (June 2022) - Released Quant's OVN API for creating and deploying QRC-20 tokens across Ethereum, Polygon, and XDC mainnets. With this new release, OVN developers were enabled to mint QRC-20 tokens on the mainnet of supported networks.
6. Overledger Version 2.2.11 (July 2022) - Enabled the connection of Quant Overledger to Hyperledger Fabric, a permissioned blockchain platform.
7. Overledger Version 2.2.12 (August 2022) - Introduced QRC-721 tokens to the Overledger API, enabling users to create and deploy QRC-721 NFTs to Ethereum, Polygon, and XDC mainnets.
8. Overledger Version 2.2.24 (February 2023) - Introduced OVN support for Avalanche C-Chain.
9. Overledger Platform Launch (June 2023) - A low-code platform that enables institutions to issue digital assets such as CBDCs across multiple networks.
10. Collaboration with BIS and the Bank of England on Project Rosalind (June 2023) - Quant announced that it had partnered with UST to provide blockchain infrastructure for Project Rosalind, A CBDC project pioneered by the Bank of England’s Project Rosalind.
11. Patent Acquisition (August 2023) - Quant disclosed that it had secured a patent for chronologically ordering blockchain transactions.
12. Quant Audit Service (September 2023) - With the launch of this service, Quant aims to provide smart contract audit services for enterprise blockchains and institutions.
13. Overledger Authorise Launch (Oct. 10, 2023) - An enterprise-grade solution that enables institutions to manage blockchain transaction signing and key generation.