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According to the whitepaper, the initial goals of the Overledger project were to develop an interface to connect the world’s networks to multiple blockchains, bridge existing networks to new blockchains, and to develop a blockchain operating system with a protocol and platform that allows developers to create next-generation multi-chain applications.
Their proposition for GoVerify is to allow people to verify and check whether any emails, SMS, mail, or phone calls received appear as legitimate and actually from the stated sender."
- From their blog (1-6-2020):
"Quant has developed Overledger, the world’s first blockchain operating system (OS) that not only interconnects permissioned and permissionless blockchains but also legacy networks, enterprise platforms and business applications to blockchain. Overledger currently supports 11 permissioned (e.g. Corda, Hyperledger, JPM Quorum) and permissionless DLTs to interoperate and help financial institutions, governments, organisations and individuals across the globe benefit from the true potential of interoperability, choice and avoid lock-in with single DLT networks."
- They sold 68,19% of the tokens in their token sale.
- From this article (9-6-2020):
"In addition to the number of tokens, the access fee will be also based on the fixed fiat currency amount. For example, the consumption fees for developers and enterprises in the amount of USD 10 per month entail making payments to the Quant Treasury based on the equivalent price in QNT tokens."
- Whitepaper can be found here (31-1-2018).
- Code can be viewed here (9-6-2020).
- Built on: Overledger
- Programming language used:
How it works
- From this article (9-6-2020):
"The Overledger represents the core around which a future digital economy ecosystem is supposed to be built, allowing the developers and businesses in it to build decentralized multi-chain applications (known as MApps) for their customers. Becoming part of the Overledger, however, will be secured only with the use of QUANT (QNT) tokens which are utilized to pay for the platform use fees or annual licenses.
Removal of the communication barriers between blockchains and support for the use of MApps as dApps running on multiple different ledgers, prompted the Overledger team to design an architecture which should support both interoperability and scaling. The architecture in question was actually inspired by the TCP/IP models used with the communication networks. The developers decided that organizing it based on the layers which perform individual tasks is the best way to achieve the platform’s goals, leaving the Overledger with the following components:
- Transaction Layer. This layer handles the storage of transactions using ledger technology. It is home to all operations which are required to reach the consensus in several blockchain domains. This process is made simpler by placing all of the related operations in a single layer. Yet, the scope of transactions made on a specific blockchain is limited to that domain, meaning that they cannot be made valid in other ledgers as well. This is why this layer is made up of both varied and isolated ledgers.
- Messaging Layer. This logical layer tackles all information retrieved from the ledgers which are deemed relevant. Types of information involved include smart contract data, metadata and transaction data. When it comes to metadata, the strings which are added usually represent the digest of out-of-chain messages which can be interpreted as the payload. This layer is also used for the storage of all transaction information and the digests of the messaging between multiple applications.
- Filtering and Ordering Layer. This layer also handles messages, particularly those which are extracted and composed of the transaction information. Messages referenced in the transaction via a hash which is exchanged out-of-chain undergo ordering and filtering. In addition to this, this layer is tasked with establishing connections between messages originating in the Messaging Layer. This layer also validates out-of-chain messages for the metadata. The validation engine checks the application requirements which can be defined on the transaction data. For instance, an application in question can be set to accept only transactions involving a particular address or it may need payment in tokens which are to be transferred. Based on the filtering done on this layer, the applications can take into account only the messages that involve transferring a predefined amount of tokens to a specific address.
- Application Layer. Messages deemed valid based on having the required format and signatures can update the state of application relevant to them. Various applications can share identical messages or make references to messages related to other applications. These references use one-of-the-kind hash pointers referring to the ledger transactions with the message digest. These pointers essentially refer back to the storage location of a particular cryptographic hash. They also function as identifiers which can be used to pick out a transaction from a database and confirm its unchanged status."
- SIA partners (28-6-2020) with Quant Network to establish blockchain interoperability solutions for financial institutions.
Privacy Method being used
Oracle Method being used
Their Other Projects
- Can be found [Insert link here].
- Bug bounty program can be found [insert here].
Projects that use or built on it
Pros and Cons
Team, Funding, Partnerships, etc.
- Full team can be found [here].
- Gilbert Verdian; CEO and founder