Chainlink vs Quant : Comparative Analysis

Chainlink (LINK) and Quant (QNT) are among the most widely used cryptocurrency tokens with real-world applications. Both these cryptocurrencies are already millions in supply and are focused on entirely different sets of problems. Chainlink is focused on providing a secure and decentralized oracle network for data feeds, while Quant is focused on interoperability of multiple blockchains and large legacy systems. To analyze which one is better, we have to consider several additional factors that govern its adoption and investment potential. Let’s have a deeper look at each of these tokens.

What is Chainlink (LINK)?

Chainlink (LINK) is a widely adopted decentralized oracle network with around 1 billion tokens in circulation. It is built to solve challenges in on-chain finance by providing an infrastructure for financial products, services, and applications to run and scale on. Basically, it helps in bringing the real-world data into the secure blockchain and provides systems to deliver secure, accurate, and tamper-proof data for decentralized finance. Large financial institutions like Mastercard, Swift, J.P. Morgan, Euroclear, Fidelity International, Aave, GMX, and many others have adopted the standards and infrastructure set out by the Chainlink platform. The platform claims to have enabled tens of trillions in transactional value with a record track of uptime and accuracy, making it one of the largest platforms providing data services for decentralized finances (DeFi).

Image Source: Chainlink website

Co-authored by Steve Ellis, Sergey Nazarov, and Professor Ari Juels at Cornell University, the Chainlink white paper was released in 2017, and the network was finally launched in 2019. The network was intended to bridge the gap between off-chain data and blockchain networks. In the year 2021, CCIP, or Cross-Chain Interoperability Protocol, was first announced and went into practice by the year 2023. This made Chainlink the backbone for multi-chain ecosystems by allowing different blockchains to exchange data and tokens securely.

What is Quant (QNT)?

Quant (Quant Network) is different from Chainlink; rather than a data solution, they have built an overledger operating system as a middleware solution to link multiple blockchains and legacy systems. Dapps in Crypto are applications that run on the blockchain, and one among the primary features that makes Quant stand out from the rest is mDapps or multi-DLT applications. These applications can run across different blockchains at the same time. This feature makes it attractive for large-scale uses, enabling governments, enterprises, and financial institutions to make cross-border payments and enterprise-level solutions. 

Image Source: Quant website

Interoperability between blockchains can improve the use of CBDCs (Central Bank Digital Currencies). Compared to Chainlink, QNT has a limited supply of 14.6 million tokens. Quant was founded by Gilbert Verdian in 2018, as he found that large organizations couldn’t share data securely due to incompatible technologies.

Differences Between Chainlink and Quant

Here is a table showing some of the key differences between Chainlink and Quant blockchains:

Conclusion – Which is the best among Chainlink and Quant?

Chainlink and Quant have different approaches to the blockchain network, and both complement each other. This makes it impossible to select which is better than the other, but if you are more into DeFi, Web3, and decentralized apps, you can go with Chainlink. If your bet is on governments and enterprises leading the blockchain adoption in the future, then you should go with Quant. While Chainlink acts as a data bridge, the other acts as a network bridge. Together, they act as pillars in bringing different blockchains together as an ecosystem.