In the news
THE blockchain revolution is struggling. The much-vaunted technology behind bitcoin promises to enable trusted transactions without intermediaries, so why have the overwhelming majority of new blockchain projects failed? One problem is that there is no longer a single blockchain: the past few years have seen an explosion of different proprietary versions.
Now a London start-up is adding yet another to the pile – but unlike its predecessors, this one is meant to connect them all. The creators of this meta-blockchain think it could restart the blockchain revolution.
Over the past few years, groups from governments to supermarkets have tried to make good on the promise of the blockchain. A real estate start-up recently completed the first home purchase on the blockchain and US supermarket Walmart is beginning to use it to verify the provenance of its groceries.
Last month, science and technology magazine New Scientist covered the Overledger project in a story titled, “The Blockchain to Fix All Blockchains.” The story emphasizes the need for data interoperability technology across different blockchains that could play a role similar to TCP/IP, which enabled the internet to thrive.
“[Overledger] seems to be a straightforward extension of the original atomic swap idea,” said Cornell University cryptocurrency expert Emin Gun Sirer, as reported by New Scientist . But instead of only supporting currencies as atomic swaps do, the Overledger works for any data that can be put on the blockchain.
The Quant Overledger project is just coming out of stealth mode. In conversation with Bitcoin Magazine Gilbert Verdian, CEO and co-founder of Quant Network, confirmed that a patent for Overledger technology was filed in the first week of December.
“The uniqueness of our operating system is that Overledger is not another blockchain,” Quant Chief Strategist and Executive Director of the UCL Centre for Blockchain Technology at University College London, Paolo Tasca, told Bitcoin Magazine. “We do not impose new consensus mechanisms, new gateways, adapters or special validating nodes on top of existing blockchains. Overledger is a virtual blockchain that links existing blockchains and allows developers to build multi-chain applications (or in other terms blockchain-agnostic applications).”
In accordance with Verdian, blockchain engineering should enable next-generation software to function across multiple blockchains, not be limited to any single a vendor or technology and permit seamless communication across multiple blockchains in addition to a comprehension of transactions and assets across blockchains.
As such, Quant is focussing on three aims: developing an API to connect the planet’s networks into multiple blockchains; bridging existing networks (e.g financial services) to new blockchains; and developing a brand new Blockchain Operating System with a protocol and a platform to create next-generation, multi-chain software.
Verdian pioneered the growth of Blockchain ISO Standard TC 307, that allows for interoperability, governance and reference architecture of blockchain technology to function between blockchains as well as allowing blockchain systems to interoperate with existing systems and networks in use today.
Overledger is a project working on connecting various Blockchains into one meaningful, coherent interoperable system. We hear from the CEO of Quant, Gilbert Verdian about how they are going about achieving this epic task. It’s a unique opportunity for you to ask questions and have them answered in the livestream.
London and Zug-based firm Quant Network on Monday unveiled plans to develop Overledger, an operating system that will allow transactions to take place across multiple blockchains, addressing problems of interoperability and single-ledger dependence, restrictions that have plagued blockchain technology for many years. The company’s Token Generation Event (TGE) commences in April 2018, with a presale starting March 19, 2018.
Overledger claims to be the only platform to facilitate internet-scale development and deployment of decentralised, multi-chain applications (MApps) and Treaty Contracts (multi-chain smart contracts).
“The key to unlocking the true potential of blockchain technology and facilitating the mass-adoption of blockchain technology, is enabling applications to function across multiple blockchains whilst not be limited to any single vendor or technology,” stated Quant Network CEO Gilbert Verdian.
In the final of our Crypto Weekly Extra segments from the ‘Beyond Ethereum’ event we speak to the CEOs of Quant Network and event organiser, Novum Insights.
Quant Network aims to implement a cross chain infrastructure for mApps (multi chain apps) to integrate with and are about to start their public ICO.
Novum Insights are a data analysis and insight company that helps investors clear through all the absolute trash tier cryptos and ICOs to find the viable investment opportunities available in the market.
Despite all the crypto hype surrounding us in the past year, there are certain limitations to the potential of blockchain technology. The lack of interoperability and single ledger dependence are severe barriers to further blockchain expansion.
What if there was seamless communication across multiple blockchains as well as the recognition of transactions across them? Why can’t a smart contract executed on Ethereum be recognized by the Hyperledger blockchain?
The Quant Network team brings to life a revolutionary solution – Overledger. It’s the first blockchain operating system facilitating the development of multi-chain applications.
Quant Network, based in London and Zug, has launched a public token sale to raise capital for Overledger – its highly anticipated blockchain operating system. Overledger not only enables blockchain-to-blockchain communication, it also takes things a step further and seamlessly connects existing networks and the Internet to blockchain, allowing Enterprises to harness the power of blockchain to address real-world challenges.
Not since the advent of the Internet itself has a technology exhibited such promise and elicited such excitement as blockchain. In recent years we’ve witnessed its metamorphosis from a ‘dubious’ experiment into a legitimate technological disruptor.
Quant Network mit Sitz in London und Zug hat einen öffentlichen Token-Verkauf gestartet, um Finanzmittel für Overledger zu mobilisieren, sein mit Spannung erwartetes Blockchain-Betriebssystem. Overledger ermöglicht einerseits die Kommunikation zwischen Blockchains. Darüber hinaus bietet es nahtlose Integration von bestehenden Netzwerken und Internet mit der Blockchain, wodurch Unternehmen das Leistungspotenzial der Blockchain nutzen und reale Herausforderungen adressieren können.
It was today that Quant Network proceeded to unveil a public token sale and a person familiar with the matter has disclosed that it did so in order to raise capital for Overledger. Asides from enabling blockchain-to-blockchain communication, the Overledger moves further to connect its internet and existing networks seamlessly to blockchain. As a result, it becomes possible for the various enterprises to move ahead and harness the power of blockchain in a bid to address a wide range of challenges in the real world. This time around, technology pulls a long with a great promise and is in that respect eliciting great excitement.
Quant Network, based in London and Zug, has launched a public token sale to raise capital for Overledger – its blockchain operating system. Overledger enables blockchain-to-blockchain communication and also connects existing networks and the internet to blockchain, allowing enterprises to harness the power of blockchain to address real-world challenges. The Quant Token Sale runs from the 2nd to the 30th of April.