Quant recently by way of a Medium article gave an Introduction to the Payment Channel. The introduction speaks about how the Quant Network have recently started off with their first phase trial of the Overledger Network (OVN), which is made up of several gateways. And, each gateway connects and provides for access to resources like the distributed ledger, data, or API.
The developers will then be able to use the Overledger Network to use the functionality from any gateway connected resource and for every resource used, there is also an associated price.
Quant recently tweeted about the Over Ledger Network Treasury Payment channels, which is Dev to Treasury PC Creation – Dev to Treasury PC Expiry – Treasury to GW PC Creation – Treasury to GW PC Topup – Treasury to GW PC Expiry.
The community treasury is used as a method to permit developers to pay the gateway owners with QNT to use the resources. Of note, the QNT is on the Ethereum blockchain and the community treasury makes use of the uni-directional payment channels to improve on their transaction throughput and also to minimize the transaction fee cost.
Sydney Ifergan, the crypto expert tweeted: “Some of them hail QNT as a life blood of Internet of Trust. The common use cases listed by users are Dev and enterprise Licences Gateways, fee plus staking, Gateways incentive, Trans fees, Collateral for payment channels, and to encrypt and verify.”
QNT wallet is the address which will hold any QNT of the users thus it can be used as a cold wallet. The operator is the address which is be able to call functions on the treasury smart contracts thus authorizing QNT payments which will flow through the channel and thus claiming QNT from a channel.
Quant (QNT) Appointed Neil Smit
Quant have appointed Neil Smit, the Comcast Corporation to their board. The Quant Team have developed a new operating system for DLT, thus enabling interoperability between legacy networks and protocols.
Smit stated, “I’m both delighted and honored to become part of the Quant team.”
In this regard, per Coin Rivet, Gilbert Verdian, CEO, Quant Network added: “Building our presence in the US is critical to our business strategy, and Neil has the perfect background and experience in large-scale Internet networks to help achieve our vision. We’re delighted that he has accepted a position on our Board.”
This appointment is focused on using Smit’s relationships and experience which he has gained in running large-scale internet networks to help in furthering their expansion in the US market.
Credit: Source link