The world of cryptocurrency evolves at such a breakneck pace that we are asked to continuously assess the viability of even the most successful of projects. XRP has skyrocketed to being the 6th largest cryptocurrency by marketcap according to coinmarketcap.

There are, however, no guarantees in the world of crypto as even the most successful of projects have become cautionary tales. In an earlier article, which is definitely worth checking out, we discussed LUNA’s cautionary tale, and drew valuable lessons that were relevant to anyone with interest in XRP.

At first glance the connection between XRP and Quant is not an easy one to identify. But, we must look beyond that because although Quant (QNT) and XRP initially seem to have nothing in common, it becomes fascinating once we realize that they can really complement one another in a myriad of ways. Because both coins have unique characteristics that make them appealing for distinct use cases, combining them creates a more resilient and adaptable ecosystem for bitcoin and other cryptocurrency users.

What is Quant and Why Should We Care?

Founder and CEO of Quant, Gilbert Verdian, became passionately engrossed in the visionary idea of unlocking the power of blockchain for everyone. Verdian and his team have since set out to create an empowered, interconnected world. To accomplish their ambitious goals, they created a platform built on the blockchain called Quant that further enhanced and continuous to facilitate communication between multiple networks and blockchains.

Quant achieves this impressive task by providing programmers with a way to create decentralized apps (dApps) that can communicate with several networks, including private and permissioned blockchains. This is done via Overledger, a blockchain operating system that allows programs to access several blockchains without being tied to a single one. Blockchains are truly wonderful in their potential and complexity! A great resource to understand them more intensely is Lantz and Cawrey’s Mastering Blockchain!

What Is XRP?

The cryptocurrency we now know as XRP was created by Ripple Labs. XRP has captured investor interest as it greatly simplifies and expedites the process of exchanging money between different currencies. It’s greatest strategic advantage is it’s suitability for cross-border payments due to XRP’s extremely cheap fees. These low fees make transfer using XRP a tempting option for businesses and individuals that frequently need to make cross-border payments. By converting currencies in real time, XRP enables almost instantaneous transactions with the aid of a network of strategically aligned middlemen.

Another unique quality of XRP is that it is a slightly deflationary cryptocurrency. The creators of XRP have capped the total amount of coins that can ever be minted at 100 billion, in contrast to several other cryptocurrencies that have a fixed or endless supply. Looking at you Dogecoin! XRP’s limited nature inherently prevents inflation and ensures that its value is more likely to endure over time.

So How Can Quant Benefit From Interacting With XRP?

One potential use is for Quant is to incorporate XRP into its network to help facilitate global payments. Quant in that scenario would provide a method for businesses and individuals to send and receive payments via different networks and in different currencies. All of that would be accomplished without utilizing on the traditional banking system. Businesses and consumers would greatly benefit from this through the quickening, reducing, and streamlining of cross-border transactions.

Another way that Quant and XRP might cooperate is through smart contracts. The specifics of the agreement between the buyer and seller are immediately written into lines of code with smart contracts. The beauty of these agreements is that they would in theory, self-fulfill. These contracts can be used to automate a broad variety of operations, from simple payments to complex financial instruments.

Additional Recommended Content

With the help of Quant's Overledger platform, creating smart contracts that can communicate with a variety of networks and blockchains is entirely possible. By incorporating XRP into these smart contracts, developers might create automated payment systems that can manage international payments in real time. This would be especially useful for businesses that operate worldwide and have recurring payments to partners or suppliers.

So How Can XRP Benefit From Interacting With Quant?

There is no doubt, that it might be advantageous for XRP to join the Quant ecosystem as well. The fact that XRP can interact with numerous blockchains may increase its usefulness and level of acceptance. For instance, dApps developed on the Quant network might accept XRP as payment. Providing XRP with a new use case outside of its already firmly established cross-border payment capabilities could increase demand for the coin.

What Are Some Ways That Both XRP and Quant Can Simultaneously Benefit?

In addition to these suggested use cases, there are more ways that Quant and XRP could cooperate. If both coins were listed on the same exchange, for instance, both coins would invariably benefit. This would in turn improve the liquidity of both coins and make it easier for people to purchase and exchange them. This increased demand would be an especially powerful event for XRP who many have been raising questions regarding its long-term survivability. By demonstrating the practical uses of these technologies in everyday settings, Quant and XRP could also help to increase the adoption of cryptocurrencies and blockchain technology in general.

So What Are The Hurdles That XRP and Quant Face About A Future Working Together?

Of course, there are challenges involved with combining Quant and XRP. Regulatory ambiguity is a major impediment because both coins operate in a constantly evolving regulatory framework. Furthermore, connecting many blockchains and networks poses technical challenges that may cost time and money to fix. Missing things happening in the crypto-sphere is always a bummer but unlike blockchain networks its an easy fix! Head on over to our YouTube channel and subscribe to stay in the know!

Notwithstanding these challenges, merging Quant and XRP has a lot of potential benefits. For developers, businesses, and end users, the combination of these two cryptocurrencies could result in a more stable and adaptable ecosystem for cryptocurrency users. As the cryptocurrency market matures over the coming years, it will be interesting to see how these two coins interact and support one another.

Legal Disclaimer : The information provided on this crypto website is for educational and informational purposes only and should not be construed as financial advice. This website does not provide investment, legal, or tax advice, and the content provided is not intended to be relied upon for making financial decisions. Any investment decisions made by the reader based on the content of this website are solely their responsibility. This website does not endorse or recommend any particular investment, product, or service. The reader should always do their own research and seek professional advice before making any investment decisions. This website will not be held responsible for any losses incurred by the reader.