Lots of people are sleeping on one the biggest things @quant_network is currently involved in-ODAP (Open Digital Asset Protocol).

So what is exactly #ODAP and why this makes $QNT one of the most significant and, regarding #crypto mcap, undervalued projects?

Time for a THREAD⬇️

1/ODAP is the protocol for communication between gateways, primarily with an enterprise focus.
So banks, central banks etc. would run a gateway in Overledger Network and ODAP would be the protocol for gateways to communicate with each other in a secure and trustless manner. $QNT https://t.co/vOkcW4amqd
2/ #ODAP Interfaces are the open source connectors that will connect a gateway to #blockchains and any existing network / API. That is based on the standards from work done at ISO TC 307 which 57 countries are working towards.
$QNT CEO Gilbert Verdian is the founder of TC307.
3/We know from the submitted drafts via #IETF (the Internet Engineering Task Force) $QNT is working on #ODAP with:

✅@MIT

✅@intel

but, there’s more to the story as we found out from Gilbert that US Government, Juniper, payment and telecom companies are also there.
4/So how it all started with #ODAP?
Let’s go back to $QNT CEO Gilbert Verdian’s interview with Santiago Velez on #RealVision (October 14th) and try to put all the pieces of the puzzle together.
I’ll forward his words ⬇️ https://t.co/WWTMg4tDEf
5/“I have always had an idea of creating an #internet protocol for money, from my earlier discussion. I have been thinking on how to do it, and what is the best way to do it and comparing stuff that we have done in the #ISO standards and all the other standards.” $QNT
6/I thought there’s a room for us to create an open digital asset protocol that anyone can implement and use,allow any institution to host a gateway in front of their org to give access to resources,to give access to trxs between their internal network and external participants.
7/“I started thinking, what was the best way to do it, and I kept going back to @ietf . IETF is the Internet Engineering Task Force, they are the ones that endorsed and enable TCP/IP to happen. They are the ones that basically created the protocols that run the #Internet.” $QNT
8/“MIT understand where this is all heading. They’ve got that foundational core internet technology background to be able to do this. I am talking about BGP and routing protocols and stuff that powers the internet of today. I approached them, I said, look, I have got this idea.”
9/“We need to create a #protocol that can allow the seamless move of #digital assets between different #networks and different gateways. What do you think? They agreed. They said, this is a great idea. This is the wider @MIT .It is not the DCI.”
$QNT
10/“We kicked this off, and we have been working on it for the last few months. Now, it is at a stage where we had our first #IETF meeting yesterday.
We have got the #US Government involved, this thing that we put together, it is public already.” $QNT
11/There is the likes of #Juniper and @intel part of it,#Payment and #Telecom companies interested in it. It started to be a big thing, and we are looking to create Internet scale protocol to move digital assets between different types of networks and different types of gateways.
Knowing all of this I personally find it unbelievable $QNT is still under 150mil mcap which is crazily undervalued if you compare it to some of the top projects where it definitely belongs to:

$ADA- 4 billion

$XRP - 23 billion

What will happen with $QNT once it all comes out? https://t.co/treojRgJhR

More from Crypto

Out of curiosity I dug into how NFT's actually reference the media you're "buying" and my eyebrows are now orbiting the moon

Short version:

The NFT token you bought either points to a URL on the internet, or an IPFS hash. In most circumstances it references an IPFS gateway on the internet run by the startup you bought the NFT from.

Oh, and that URL is not the media. That URL is a JSON metadata file

Here's an example. This artwork is by Beeple and sold via Nifty:

https://t.co/TlJKH8kAew

The NFT token is for this JSON file hosted directly on Nifty's servers:

https://t.co/GQUaCnObvX


THAT file refers to the actual media you just "bought". Which in this case is hosted via a @cloudinary CDN, served by Nifty's servers again.

So if Nifty goes bust, your token is now worthless. It refers to nothing. This can't be changed.

"But you said some use IPFS!"

Let's look at the $65m Beeple, sold by Christies. Fancy.

https://t.co/1G9nCAdetk

That NFT token refers directly to an IPFS hash (https://t.co/QUdtdgtssH). We can take that IPFS hash and fetch the JSON metadata using a public gateway:

https://t.co/CoML7psBhF

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