How does Quant work?
Quant is a blockchain-based platform that enables users to create and manage their own digital assets.
It is designed to be a secure, efficient, and cost-effective way to store and transfer value. Quant works by using a consensus algorithm called Delegated Proof of Stake (DPoS). This algorithm allows users to stake their tokens in order to become validators on the network.
These validators are responsible for verifying transactions and maintaining the integrity of the network. The more tokens a user stakes, the more influence they have over the network. This system helps ensure that only valid transactions are processed and that malicious actors cannot take control of the network.
In addition to DPoS, Quant also uses a sharding system which helps improve scalability by dividing the network into smaller shards which can process transactions in parallel. This allows for faster transaction processing times and higher throughput than traditional blockchains. Quant also utilizes smart contracts which allow users to create custom applications on top of the blockchain.
These applications can be used for anything from creating decentralized exchanges to creating tokenized assets or issuing digital securities. Smart contracts are secured by Quant’s consensus algorithm, ensuring that they are executed as intended without any interference from malicious actors.
