[ICO Review] Quadrant Protocol: A Blueprint for Mapping Decentralized Data

in #quadrant • 6 years ago

 Token Info 

Token Symbol: EQUAD 
Token Type: Utility 
Exchange currency: ETH 
Website: https://www.quadrantprotocol.com/
Overview: Quadrant protocol project proposes a complete solution for producing authentic and useful data set to demanding parties through smart contracts. Quadrant projects aims to provide fairer profit distribution system to verified data sources so it is able to build a sustainable and healthy data economy. 

1.Idea 
-Providing a blueprint for mapping data sources by procuring proof of data authenticity and provenance from data stamping, “constellations” (smart data contracts) and fair remuneration. 
-Operating on a Proof of Authority consensus mechanism and external Proof of Work chain for higher transaction efficiency and comprehensive security purposes 
-Establish a mutually beneficial relationship between different parties that involve in the data supply chain: 
+ Nurseries:​ Parties that provide raw data (data from IoT devices, from vehicles or factories). 
+ Pioneers: Parties that have to verify the data sources and then ensure they can supply the factual data to the market in a long-term manner. They have to give a fair share cut to Nurseries parties. 
+ Elon: Any individual or institution that can combine verified data from Pioneers and prepare them to be ready for use. In this way, the demanding parties can always find useful data sets for their projects. If any party wants to be an Elon, they have to deposit (stake) an amount of QUAD. 
+ Guardian nodes:​ Secure the integrity of the chain and provide data stamping, authenticity, and verification. 
- Quadrant projects show their ambitious vision of a sustainable data supply chain: 
+ Mobile SDK or Local Aggregators: Pioneers go out and verify data from sources like App publishers or devices 
+Next, analytics company, playing a role as Elon, commercialize data sets and make it available for sale to end-users. 

2.Human 
-Young and ambitious team with experience in Big Data and Blockchain Engineering 
-Strong backing of high caliber advisors from Bluzelle, BitGo and Sentiment 

3.Token 
-Ticker: ​EQUAD 
-Quadrant will utilize 2 different currencies for its protocol: eQuad and QUAD.  EQuad is an ERC – 20 tokens for TGE and will be converted into QUAD when the Quadrant mainnet is launched. 
-Total Supply: ​1,000,000,000​ tokens. 
-Hardcap: ​20,000,000​ USD 
-Token distribution:Crowdsale-40%, Company-20%, Stakeholders-20%, The Reserve-10%, Team-10%. 
-If hardcap of $20M is reached, $12M will be locked up and $4M will be distributed every year. No other devs team have done such a thing before. 
-Token will be used as the medium of exchange for services and the settlement of transactions on the Quadrant network: 
+ Processing data stamping/ verification and Constellations execution. 
+ Purchasing data while Pioneers will receive QUAD as remuneration. 
+ Staking data for access to datasets for experimentation and trials. 

4.Roadmap 
-Q3/2017: Product Identified and Solution Architecture Kick Off. 
-Q4/2017: WP Drafted. 
-Q1/2018:  

  • Sale Contract Creation & Token Contract Creation. 
  • Testnet Release. 
  • Data Stamping Contract Testing. 
  • Initial Client Testing 

-Q2/2018: 

  • Token Sale Whitelisting 
  • Security Audits 
  • Token Generation Event 
  • Tokens Distributed 
  • Mainnet Release 
  • Data Stamping Protocol Release 
  • Onboard selected DataStreamX users onto protocol 

-Q3/2018: 

  • Constellation Protocol Release 
  • Constellation Explorer Release 

-Q3/2019: Enable Micro Payments for Nurseries -Q1/2020: Distributed Guardian Nodes 

5.Competitive Advantage 
-The team understands the essence of fraud-free data sources so the Quadrant protocol is built with data integrity at its core: third parties are given the incentive to check data sources before making it available to the market. A two-chain method (Proof of authority on Quadrant blockchain and an Anchor to a public blockchain) is also applied to ensure the data cannot be reproduced. 
-Backed by strong crypto funds like ChainRock, Draper Venture Network, Kenetic Capital. 
-Taking counseling from prominent partners in token sale management and technology: Amazix and Bluzelle. 
-Quadrant Protocol provides a back-test mechanism in which it allows Data consumers can verify if the data they receive is useful enough and fraud-free. With this mechanism, it can maintain the customer satisfaction. No other competitor on the market provides such a tool to end data-users. 
-Elon is the critical factor which gives Quadrant protocol the edge over other platforms because other platforms, which rely on AI, need time as well as qualified data to feed the AI to understand market needs while Elons already know the market demands. 
-Good audit grade from Hosho is a plus for Quadrant transparency as well as self – improvement. 

6.Community 
-Quadrant has a large support community with 4K on twitter and 14K on telegram channel. 
-Admins on telegram are very active and twitter channel are updated at high frequent rate. However, retweet rate is low. What concerns is that Quadrant members are focusing on Token Sale Information rather than technical analysis. 

7.Products 
-When the mainnet is live, all essential features and services will be available: Data Stamping Protocol, Stamp Verification, Open Constellations, Network Nodes and Clients, Data Enhancement by Elons and Public Chain Anchors on Ether. It means, in Q3 2018, the Quadrant protocol is ready for all interested parties to participate in the ecosystem. 
-Quadrant uses the two – chain techniques to enable fast and cost – efficient transactions within the network. They aim to blend Proof of Authority and Proof of Work to achieve below goals: 
+Handle more transactions at faster speed 
+Low gas price 
+Malicious node restriction 
-Quadrant codebase has passed the smart contract audit by Hosho - a global leader in Blockchain security and smart auditing. This result not only demonstrates what Quadrant team is striving to fulfill but also is measure for Quadrant practicalities. 

Recommendation​:  
-Quadrant team knows what is their strategic asset to participate in a competitive market. With practitioners of IoT, M2M, Big Data Applications and backing from influential VCs, the team is ready to challenge other Data marketplace platforms. 
-Quadrant has shown their transparency and determination through allowing codebase audit from an independent agent. This is a highly appreciated core value. 
-Even though Quadrant project does not implement AI in the protocol, Elon parties can still build their own AI to do their jobs better. Moreover, in the business model of Quadrant, it gives even more incentive to Elon parties and avoids conflict of interest issue where Elon parties have to compete with Quadrant AI in term of producing useful data sets. 
-Since the QUAD tokens are used as means of payment and also a store of value, the fluctuation of token price may cause the more negative impact on the growth of Quadrant Ecosystem. There should be a mechanism in place for that issue.  

Useful Links

#bitcoin #ico #review
6 years ago in #quadrant by
$0.00
    3 votes
    Reply 3
    Sort:  
  • Trending
    • [-]
     6 years ago  

    ✅ @zakie, I gave you an upvote on your post! Please give me a follow and I will give you a follow in return and possible future votes!

    Thank you in advance!

    [-]
     6 years ago  

    ofcourse sir

    $0.00
      Reply
      [-]
       5 years ago  

      Congratulations @zakie! You received a personal award!

      Happy Birthday! - You are on the Steem blockchain for 1 year!

      You can view your badges on your Steem Board and compare to others on the Steem Ranking

      Vote for @Steemitboard as a witness to get one more award and increased upvotes!
      $0.00
        Reply