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As the crypto space grows as a whole and there is more and more demand for off chain data communications we have seen the rapid growth of oracles such as Chainlink. In this article we will be covering two projects that help in the communication between off chain and on chain data, Chainlink and Quant.

Chainlink vs Quant

Chainlink and Quant similarities

While both Quant and Chainlink help to facilitate the communication of on chain and off chain data these two projects are vastly different and help to solve different problems in their own respective way.

While Chainlink is an oracle that mainly focuses purely on the communication of data, Quant also does this using their own network Overledger which is targeted at financial institutions, enterprises and banks. Quants main goal is to create an empowered and connected world through interoperable ecosystems.

What is Chainlink?

Chainlink is the largest and most well known oracle in the cryptocurrency space and is responsible for enabling a whopping $6.9 trillion in value, this is done through its oracle which allows smart contracts to access and communicate with off chain data.

As Chainlink is the most well known oracle in the space it has formed partnerships with some of the biggest projects such as AAVE, Compound and ENS.

As you can probably guess this is a very powerful use case as real world adoption of cryptocurrency grows and more and more organizations need a way to efficiently communicate with the blockchain and have the ability to have smart contracts communicate across different networks.

What is Quant?

Quant is a network which focuses on improving the connection between blockchain and off chain data, powered by its software Overledger Quant is the world’s very first API connected gateway for blockchains. Through this Quant is able to provide organizations such as banks, lenders, insurance companies and more the infrastructure required to connect to multiple different blockchains.

As more blockchains are developed in different languages and different software’s there is an ever growing need for a network that allows organizations to connect to all these different blockchains without having to recode scripts and adjust their business for each specific blockchain.

By using Overledger organizations can use its API gateway to connect all the different blockchains together in one place allowing the organizations to share information and data between the networks, this also works for communicating data that is off the blockchain also.

Founded by Gilbert Verdian who has over 20 years experience in the cybersecurity space having worked with organizations such as Mastercard and PwC, Quant has a very talented team with experience in all sectors from finance, security right through to blockchain technology.

Is Chainlink better than Quant?

While Chainlink and Quant are very different networks they do have one thing in common, the connection of different networks and the transferring of data, the one thing that Chainlink really has over Quant is its deep partnerships and dozens of already in place integrations with smart contracts and protocols.

It is hard to say which is better as they both serve different (but similar) use cases. In the case of enterprise sized organizations such as Banks and Governments accessing blockchains Quant may have the upper hand due to their simple API allowing organizations to connect to all blockchains with ease.

However on the other hand in the case of smart contracts communicating with each other on a blockchain to blockchain level Chainlink has the upper hand, so this begs the questions, which is the better oracle Chainlink or Quant?

Purely as an oracle Chainlink has withstood the test of time and shown its efficiency and high level of performance as an oracle, that’s not to say that Quants network Overledger wont one day become the gold standard of the space.

Which is better Quant or Solana?

This is a question that I get asked a lot and also see come up on forums quite often, and it is a very simple question to answer. Neither is better than the other as they both serve completely different purposes and their end goals are not the same.

While Quant is used to communicate data between blockchains and the real world, Solana is used as a singular blockchain more for actions such as payments and trading NFTs, hence they both have massively different use cases and are in a way both better than each other in their respective field.

Should I invest in Chainlink?

The big thing about Chainlink is that not only has it withstood the test of time but it also positioned itself in the market very early gaining a lot of very big partnerships with some of the biggest protocols and networks in the space.

Chainlink is starting to face off with a bit more competition than it had in the earlier days such as Quant and other networks targeting cross chain interoperability such as Polkadot, at the moment Chainlink is king of cross chain data communications but will it continue to hold market share?

Personally I think Chainlink will be around for a lot more time and isn’t going anywhere in the near or distant future, with its wide range of partnerships combined with its use case Chainlink could be a fairly safe bet for the coming bull run.

Is it worth buying Quant?

Quant could have a very bright future as they continue to onboard large organizations outside of the crypto space. Along with Chainlink, Quant has a use case and a working product that could easily be adopted by millions of organizations around the globe.

The bull case for Quant is fairly strong with large partnerships being announced and its network Overledger showing that is can do what it needs to do, its simple API for connecting to blockchains is also a huge selling point as it will allow organizations to connect to blockchain with ease.