Made up of the Overledger blockchain operating system and QNT token, the goal of the Quant Network is to allow multiple blockchains to work together and to give more flexibility when it comes to linking different global networks, services, and chains. With an impressive founder and resilience to the bear market, QNT has made a considerable impression in the industry.

What is the Quant Network?

The Quant Network was designed to connect blockchains and networks on a global scale, prioritising interoperability and trust functions between them using the Overledger operating system, the first OS built for blockchains.

The Overledger network acts as the backbone of the project and is not a blockchain but rather an Application Programming Interface (API) gateway that allows developers to build decentralised multi-chain applications (known as Mapps) and bridges the gap between various blockchain networks.

The Quant project believes that this technology will be the foundation on which the future digital economy will be built. In light of this, the network has been working with central banks in the US and UK to build Central Bank Digital Currencies (CDBCs).

Founded in 2015, the platform officially launched in 2018 following a successful ICO earlier that year. July 2020 marks the launch of the world’s first blockchain operating system in July 2020, Version 1.0.

Who created the Quant Network?

Quant was founded by Gilbert Verdian, a cybersecurity expert who has held government-level positions around the world. These positions include the UK Treasury, the Australian Department of Health, and the US Federal Reserve, and private sector roles at HSBC Bank, Mastercard’s Vocalink, BP, and more. 

With over two decades of experience in the cybersecurity space, Verdian learned the power that blockchain technology holds when it comes to solving a plethora of security problems related to the exchange of digital assets and information on a global level. 

Verdian sits as the chair of the UK Blockchain and Distributed Ledger Technology committee and is a member of the EU’s Blockchain Observatory and the Federal Reserve. 

In 2017, Colin Paterson and Paolo Tasca joined the project as co-founders, each bringing their own impressive experience. Paterson, acting Chief Technology Officer, is a cybersecurity expert having worked with Deutsche Bank and Vocalink and acted as the chief information officer of NSW Ambulance, the CISO of eHealth NSW, and the security lead of the Ministry of Justice, UK, prior to joining the project. 

Tasca, Chief Strategist, serves as the Executive Director of the University College London (UCL) Centre for Blockchain Technologies, Executive Board Member of the DEC Institute, and as Co-Chair of the Hedera Treasury Management and Token Economics Committee.

How does the Quant Network work?

The Quant network is centred around the Overledger feature. With Overledger, businesses can connect their preexisting technology infrastructures with a number of blockchain ledgers using an easy-to-use API.

APIs are software that creates or processes requests between two programs, acting as an intermediary. Many online applications rely on APIs, including finance trading software and social media sites.

The Overledger operating system lets developers launch Mapps, which are decentralised applications that work with numerous existing blockchains. Overledger operates in a similar manner to Windows, Android, or Macintosh OS in that it allows applications to run on it. The technology sits between underlying blockchain infrastructure and allows the Mapps to communicate seamlessly with multiple blockchains.

In order to access Overledger and build Mapps on the network, developers are required to hold QNT tokens and use these tokens to pay transaction fees, as well as a fiat-based annual licence. The platform also allows developers to create their own tokens using its QRC-20 token standards (similar to Ethereum ERC-20 tokens) as well as create QRC-20 smart contracts. These functionalities were created in a drag-and-drop style so that anyone with no prior experience can create them.

As an example, a developer within the ecosystem could create a smart contract that incorporates both the Bitcoin and Ethereum networks. The interconnected smart contract could stipulate that Jane will pay Sandy 1 BTC only once Paul has paid Jane 1 ETH.

What is QNT?

QNT is an ERC-20 token that is used to access the Overledger network and validate transactions on the network. There is a maximum supply of 14.6 million QNT tokens, of which over 80% are in circulation (at the time of writing).

All product users, developers, and gateway operators are required to purchase annual licences, used to maintain platform efficiency. These licence fees are converted to QNT and locked up in the Quant treasury. If a user does not renew their licence, they forfeit their fees, discouraging them from dumping tokens on the market if the price increases.

Transaction fees for using Overledger are paid for in QNT to gateway operators. Since its launch in August 2018, QNT has seen consistent price growth and activity on the network.

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UNI is the native token to the Ethereum-based automated crypto exchange, Uniswap. Currently the biggest contender in the DeFi space, Uniswap has become synonymous with decentralised exchanges and the automated trading of decentralised finance (DeFi) tokens.

Covering everything from its growth to rewards to its supply, learn about the leading cryptocurrency linked to the automated market maker that's been making investment news headlines in recent months. Let's dive in to uncover more about the top 15 biggest digital asset on the market.

What is Uniswap (UNI)?

As mentioned above, Uniswap is a decentralised exchange that facilitates the automated trading of DeFi assets. Decentralised in nature, all trading is facilitated by crypto smart contracts as opposed to employees at a company managing operations, a level up from the decentralised ideology of Bitcoin.

Uniswap was created to provide liquidity to the DeFi industry and allows anyone to create a liquidity pool for any pair of digital assets. After launching in late 2018, the platform experienced an unexpected boom when the DeFi movement exploded. Despite being a technical process, customers and traders around the world joined in on the action.

Following the DeFi phenomenon of increased liquidity mining and yield farming platforms, the automated market maker (AMM) saw a significant increase in the tokens invested in and traded on the platform. 

Competing with centralised exchanges, Uniswap provides a trading platform to anyone, without the need for any identity verification or credentials. With no KYC verification, users can swap a wide range of tokens depending on the liquidity pools available.

Who created Uniswap?

Created by Hayden Adams, an Ethereum developer, Uniswap was designed to introduce AMMs to the Ethereum network. Adams worked closely with Ethereum founder, Vitalik Buterin, as he built and implemented the protocol. 

Adams states that he was inspired to create the platform following a post by Buterin himself. In a short amount of time this protocol became one of the biggest disruptors to the financial market in recent years.

How does Uniswap work?

A unique element to the platform is the advent of the Constant Product Market Maker Model. This pricing mechanism works in a way that instead of determining the price of a token through connecting a buyer with a seller, the price is determined by a constant equation (x multiplied by y = k).  

In order to add a token to Uniswap, users would need to fund it with the equivalent value of ETH and the ERC-20 token in question. Say, for instance, that you wanted to add a token to Uniswap called FIRE. You would need to launch a new Uniswap smart contract for the token FIRE and also create a liquidity pool that holds the same amount of FIRE and ETH. 

In this case, x in the equation would equal the number of ETH while y equals the number of FIRE in the liquidity pool. K represents the constant value, using the balance of supply and demand to determine the value. As someone buys FIRE using ETH, the FIRE supply decreases and the ETH supply increases, thus driving up the price of FIRE. 

The platform allows any ERC-20 token to be traded, with an easy means of creating the smart contract and liquidity pool necessary. In May 2020, Uniswap V2 was launched which allowed for direct ERC-20 to ERC-20 exchanges as well as support for several incompatible ERC-20 tokens like OmiseGo (OMG) and Tether (USDT). 

In order to trade on Uniswap a user will need to have a wallet that complies with the platform, like MetaMask, Fortmatic, WalletConnect, or Portis Wallet.‍

How does the Uniswap token work?

Launched in September 2020, 400 governance tokens (UNI) were airdropped to each wallet that had made use of the platform before 1 September that year. 66 million of the 150 million UNI tokens distributed were claimed in the first 24 hours. 

According to the platform, Uniswap tokens were created to "officially enshrine Uniswap as publicly-owned and self-sustainable infrastructure while continuing to carefully protect its indestructible and autonomous qualities."

Providing both profitability potential and governance rights, holders of the digital asset have the right to vote in how the platform develops, unifying the protocol's authority and cutting out the middleman. This grants holders immediate ownership of a number of Uniswap initiatives including the UNI community treasury, eth ENS, the protocol fee switch, SOCKS liquidity tokens and the Uniswap Default List (tokens.uniswap.eth).

The launch of UNI was seen as a direct retaliation to SushiSwap, another decentralised exchange which cloned the platform and added its own token (SUSHI). 

The digital asset is an Ethereum based ERC-20 token and operates on the Ethereum blockchain.‍

What is Uniswap version 3?

More commonly referred to as Uniswap V3, at the time of writing the latest version of the automated market maker was launched on 5 May 2021. This upgrade incorporated better capital efficiency for liquidity providers, improved infrastructure and enhanced execution for traders. Prior to the launch of Uniswap V3 the price of the native token reached a new all time high.‍

Uniswap Success

Sparked by the DeFi movement, the platform has seen enormous success not only in the DeFi space but in the cryptocurrency industry as a whole.  

In February 2021, Uniswap became the first DEX to have a trading volume of over $100 billion while in recent months it has regularly exceeded $1 billion in trading volume each day. This trading volume makes it not only the biggest DEX in the space, but one of the biggest exchanges in the industry. Its contribution to the DeFi space is widely celebrated.

 At the time of writing Uniswap had a market capitalisation of $15.5 billion.

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When learning about paper wallets it's likely that you came across this option nestled safely in the “cold wallet” section in the different types of cryptocurrency wallets. While the popularity of paper wallets has somewhat declined, there are still a strong number of crypto enthusiasts that  appreciate the completely offline storage option. Let's explore what a paper wallet is and whether it's suited to your crypto needs.

What is a paper wallet?

For those needing a recap, a paper wallet is a piece of paper that holds both one’s public and private keys in both alphanumeric form and QR codes. Known as a non-custodial cold storage wallet, paper wallets allow the holders to manage their own private keys and remain entirely offline. A private key is a unique code that grants a user ownership of their wallet and digital funds, akin to a pin code for a bank account.

Creating paper wallets is incredibly simple, and can be completed in a matter of seconds. As a paper wallet "functions" offline, this makes them free from hackers, unlike a software wallet which is operated online. However, the paper wallet still carries its own set of risks in that the piece of paper cannot get damaged or lost.  Many Bitcoin paper wallets have been lost due to the paper fading or the information becoming illegible.

The objective of keeping a paper wallet is to keep the private key safe whether it's for a Bitcoin paper wallet or one designed to hold any other cryptocurrency. Each crypto wallet will be designed to store one specific cryptocurrency.

The term Bitcoin wallet is a generic term for any type of crypto wallet, whether a paper wallet, a software wallet or any type of online wallet or hot wallet.

Precautions for using paper wallets

While storing the paper wallet securely in a safe location makes the top of the list here, other precautions to take are listed below:

Quality printer

Always use a good quality printer. Ensure that your paper wallet is printed with a high-quality inkjet printed to ensure that the characters on the paper don’t fade or bleed over time. Should this happen you could lose access to your funds. 

Don’t share private keys

Never share your private keys with anyone. Paper wallets are designed to show the public key QR code on one side and the private key on the other. When sharing your public key with someone be sure not to accidentally share the private key as then they could gain access to your funds. 

Be sure to set up a change address

If you don't set up a change address before sending funds from a paper wallet, the leftover funds will go to waste. A change address is a separate wallet address that picks up the change from a transaction. 

If you have, for example, 100 BTC in your Bitcoin paper wallet and only spend 0.50 BTC, the remaining  99.5 BTC will either be sent to the change address or lost from your own paper wallet entirely. 

Paper wallets are not designed to be used for sending funds, but instead for receiving and storing funds for the long term. Hot wallets (as opposed to paper wallets) are better suited to users looking to frequently send and receive funds. There are plenty of crypto wallets on the market, ensure that you find the most convenient one for you.

While paper wallets remain offline, there are still risks associated with them. Be sure to adhere to the above precautions in order to keep your funds safe. 

Are paper wallets still relevant?

In the early days of crypto trading, paper wallets were strongly advised due to the offline safety of storing private keys. They began to be popular around the end of 2010 but unfortunately have been on a decline in more recent years as innovation in the industry has picked up momentum. A paper wallet is resistant to online attacks as long as it's made correctly; you can't hack a piece of paper.

In the past, people could create and print paper wallets for their crypto right from their exchange accounts. But now experts believe that hardware wallets are a more secure option, so most major exchanges don't offer this service anymore.

While some die-hard crypto traders still believe in the solid security of paper wallets, there are plenty of more innovative options available on the market today. 

We are delighted to announce the listing and support of Chain (XCN) on Tap!

XCN is now available for trading on the Tap mobile app. You can now Buy, Sell, Trade or hold XCN for any of the other asset supported on the platform without any pair boundaries. Tap is pair agnostic, meaning you can trade any asset for any other asset without having to worries if a "trading pair" is available.

We believe supporting XCN will provide value to our users. We are looking forward to continue supporting new crypto projects with the aim of providing access to financial power and freedom for all.

Founded in 2014, Chain provides organisations with the infrastructure they need to build better financial services from scratch. The Chain token (XCN) is a utility and governance token for the Chain Protocol that allows its holder to vote on protocol improvements and various community-driven programs. XCN can be used for premium access, discounts, and payment of commercial fees on Sequence and other Chain ecosystem products.

Get to learn more about XCN in our dedicated article here.

If you’re a business owner looking to tap into the over 300 million people across the globe using cryptocurrencies, you’ve come to the right place. In this piece we’re covering how you can go about incorporating cryptocurrencies as a payment option.

Why businesses are integrating crypto payments

Whether you want to accept Bitcoin payments or crypto payments, incorporating digital currencies into your business is becoming more and more common. Here is why more businesses around the world are opting to integrate modern payment options alongside their traditional ones:

• Faster Settlements

Do to the nature of blockchain technology, with crypto payments, once the transaction has been executed the funds will (almost) immediately appear in your crypto wallet. Some traditional payment systems can take several days (for international payments)

• Lower Fees

Card processing companies charge anywhere from 1% - 3% plus an additional charge for using that service. Other payment services, like PayPal for example, charge even more. While the transaction fees structure is dependent on the specific network, cryptocurrencies charge a minimal flat rate, with no added hidden costs. When making or accepting crypto payments, ythese fees are communicated upfront.

• Attract new customers

With over 300 million people using cryptocurrencies, expected to rise to 1 billion by the end of 2022, there is now a much wider audience that your business can tap into. Tap into these new customers by adding crypto payments to your payment options and attract a new demographic.

• Reduce Fraudulent Charges

Fraudulent card activity costs the global economy over $120 billion each year. These chargebacks can range from a number of reasons, from technical issues to outright fraud. With cryptocurrencies, transactions are final and cannot be reversed due to the nature of blockchain technology facilitating them. 

What does a business accepting cryptocurrencies entail?

First, you will need to have a proper understanding of cryptocurrencies, and an idea of which cryptocurrencies you would like to accept. While most businesses new to accepting crypto payments might opt for Bitcoin payments, there are several alternative options with varying features. Bitcoin Cash, for example, provides faster transaction times at a lower cost. Conduct thorough research and explore what other companies in your industry are doing.

Next, you will need to create an account with a payment gateway, the crypto equivalent of a payment processor. This gateway will allow you to easily transfer crypto to fiat and vice versa. Ensure that the platform you opt to use is reputable, has high levels of security, and is in line with the regulatory requirements. If you decide to accept Bitcoin payment, you need to ensure that everything you are doing is above-board.

Once you have chosen your payment gateway and set up the account, the last step is to let your customers know. Whether you do this through a marketing campaign or simply incorporate the crypto QR code on your website or in-store, this is an excellent opportunity to get the word out there and create a buzz around your business now accepting crypto payments.

A crash course in cryptocurrencies

For the sake of getting you fully prepared to accept crypto payments, we've included a short crash course on cryptocurrencies. The first cryptocurrency to come into existence was launched in 2009 as a response to the global financial crisis. The still-anonymous creator, Satoshi Nakamoto, wanted to create a global digital currency that would allow each individual to take control of their own funds, and not have to rely on governments and centralized financial institutions to do so.

A few years after Bitcoin entered the scene, several other cryptocurrencies started emerging, many of which used the same infrastructure. Bitcoin Cash and Litecoin are examples of this, offering the same service with several tweaks.

While adoption was slow to take off, crypto payments eventually integrated into the mainstream financial sector as several companies started catering to the crypto crowd. While the markets still go through the typical economic cycles, cryptocurrencies and most notably crypto payments are here to stay.

Closing thoughts

If you’ve decided to accept Bitcoin payments and propel your business into the crypto-sphere, the process is likely to be much more simple than one would initially imagine. The best part about deciding to accept cryptocurrency payments is that you don't need to forgo your traditional payment methods. Cryptocurrency works perfectly alongside your current point of sale system and offers an alternative online payment solution.

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With rising inflation rates and economic downturns around the world, there's plenty of speculation that we're headed for another global recession. While the media tends to paint the darkest picture, it's always worth being prepared. In this article we're providing five action points you can do now to ensure that your finances remain recession-proof.

The National Bureau of Economic Research defines a recession as “a significant decline in economic activity that is spread across the economy and that lasts more than a few months." It's worth noting that these are a natural part of the economic cycle and are completely unavoidable. The best thing you can do is be educated and prepared with a reliable plan in place to overcome any economic downturn.

According to a study conducted by Empower and Personal Capital, 74% of consumers in the U.S. are concerned over an impending recession. While some analysts believe the recession has already started, Goldman Sachs has predicted there is a 30% chance of one materializing while UBS has forecast "no recession".

Whichever side of the fence you sit on, it can't hurt to be prepared. While it sounds dark and gloomy, we're here to help you prepare for a recession.
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Anxious about an incoming recession?
Here are 5 steps to get yourself recession-ready

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1. Try to eradicate debt

The first step of most financial plans, paying off high-interest debt, is a valuable practice. The recent increase in interest rates by the Federal Reserve has seen credit card rates rise over 17% for the first time in two years. Analysts are predicting that these interest rates will continue to rise in the coming months. Avoid credit card debt and the high-interest rates associated with them.

If you are carrying high-interest-rate debt, your best port of call would be to strategically manage this, with the intention to pay it off as soon as possible. With recessions oftentimes come job cuts, and if this happens to you paying off your debt now will be a worthy exercise. Know that in times of recession, interest rates will increase.

2. Lessen your expenses

Consider your monthly living expenses and what you spend money on and see where you can make cuts in order to prepare for the "worst case scenario". Consider what would happen if you were to receive a lower salary, if you were to lose your job, or if you were suddenly faced with an emergency (more on emergency savings next).

While these can take place at any stage, having a plan will help you to be prepared should you come face to face with this. Monitoring your monthly expenses is, either way, a great opportunity to stay on top of your finances and improve your financial situation.

3. Establish your emergency savings fund (and bulk it up)

If you haven't already done so, establish an emergency fund. Financial advisors define an emergency fund as three to six months' worth of living expenses. This emergency fund is to be used for unexpected expenses like home repairs, a car issue, a medical emergency, etc. This is separate from your retirement account, and acts as a cash cushion should you need it.

As you prepare for a recession, it's advised to bulk up your emergency fund to be at least six months' worth of expenses/salary. This personal budget will act as your financial safety net should you need it, a rainy day fund. For bonus points, try to keep this in interest-generating savings accounts. 

4. Update your resume

In the unfortunate event of losing your job in a recession, it will bode well to build your resume up before the time so that you can immediately start searching for a new job. During recessions, the job-seeking market tends not to favour job seekers so being prepared beforehand may work out to your advantage.

Alternatively, if you were considering advancing your education or going back to school, this could be a prime time to do so. This will not only improve your chances of employment in the future but also allow you time to emerge when the job market is more favourable.

5. Stick to long-term investment plans

In times of recessions it might seem tempting to cut back on retirement savings or pull investments, but try to hold strong. These investments are for the long term and will loose significant value if pulled prematurely.

Focus on managing your emotions and consider the long-term benefits. After the recession moves into its next economic phase, would you rather have your long-term investment in place, or have to start again? Especially if your investments are linked to a retirement portfolio. For ease of mind, know that historical data proves that a bull market lasts longer than a bear market.

Whether you're invested in crypto, gold, or the stock market, stick to your long-term strategy and don't be tempted to make decisions based on fear, they rarely turn out to be good ones.‍
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Closing thoughts on surviving economic downturn

Recessions tend to carry a lot of fear mongering news, however, did you know that the recession in 2020 only lasted for two months? While they're times of little to no economic growth, they are just as quickly corrected and allow new innovations, services, and economic activity to ignite. Consider it a breeding ground for new opportunities.

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Use the time beforehand to prepare for a recession by managing your expenses, freeing yourself from high-interest rates, and building an appropriate savings account to see you through. If in doubt, consider speaking to a financial advisor who can professionally guide you in building a solid financial plan. 



Disclaimer: This article is intended for communication purposes only, you should not consider any such information, opinions or other material as financial advice. This communication should be read in conjunction with Tap’s Terms and Conditions.