New Partnership Marks Multi-chain Evolution for Smart Contracts | 11 Dec 2019 | London

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A new partnership between Quant Network and SIMBA Chain, both leading innovators in blockchain technology, will make the deployment of smart contracts which use more than a single blockchain fast, easy and cost-effective for the first time.

Quant Network and have agreed to combine their unique blockchain-based technologies to eliminate a key barrier to the development and deployment of multi-chain smart contracts. By providing seamless deployment of all interoperable smart contracts based on blockchains supported by Overledger, the partnership removes the existing single-chain limitation, and opens the door to mass adoption of blockchain solutions.

Government agencies, Fortune 500 companies, and startups are increasingly looking to blockchain as the basis for transparent, verifiable systems for establishing and enforcing contracts, transferring assets and sharing data. However, while smart contracts based on blockchain are increasingly attractive as a way of achieving this, the complexities of smart contract code, together with the fact that many solutions require multiple blockchains, mean that deployment can be slow, difficult and expensive.  

The introduction, in 2017, of SIMBA Chain’s Smart Contract-as-a-Service (SCaaS) removed the first of these issues. Allowing users to define assets and parameters, ScaaS auto-generates the smart contract and API keys that interface to the blockchain. This not only reduces development time and cost, but enables rapid prototyping and deployment of blockchain dApps for iOS, Android and the web in minutes rather than months.

The use of multiple blockchains, however, remained an obstacle to mass adoption. This issue was addressed by Quant Network, which is known for developing the first, and so far only, blockchain operating system (Quant Overledger) to allow interoperability of blockchains without adding complexity or another layer. As a result, Overledger allows the connection of any legacy network, and every current and future blockchain, with no extra overhead.

The result of the combination of these technologies, through a partnership between Simba Chain and Quant, is to allow any individual or business interested in using any supported blockchain on the Quant Overledger to deploy their solutions in a matter of minutes. It will simplify the complexities of smart contract code through the SIMBA Chain SCaaS platform, while engaging the ease of Overledger’s interoperability to enable a hyper-connected world powered by multi-chain smart contracts.

Feature

Overledger 2.x

Overledger 1.x

Authentication

OAuth 2.0 standard (allowing SSO)

Proprietary (BPI Keys)

Functionality

In API, seamless updates

In SDK, re-download for updates

Standardisation

Full abstraction across all DLTs

Partial, DLT-specific edge cases

RCG Framework

REST / JSON APIs from OVL Core

Proprietary P2P (experimental)

Time to Deploy

32 minutes (CI / CD pipelines)

1-2 weeks

QNT Utility Token / Treasury

Optimised, audited smart contracts

Experimental smart contracts

Microservices

Optimised to scale fast – 23 Microservices

Hardened proof of concept
– 9 Microservices

Transaction Routing Algorithm

6 factor, game theory optimised

Experimental P2P emergent

Databases

Cloud native (scaling / resilience)

Standalone DB deployments

Cross-DLT Implementation

REST API calls direct to OVL, integrated smart contract back end

SDK-based Javascript 
apps call smart contract functions
via OVL

2021 Achievements

50% Quant team has grown by over 50% and will continue to do so 

OVL1.0 to 2.0 Release schedule accelerated, moved to much more frequent automated updates
– Previously, last major update was seven months, then in early 2021 moved to three months (Jan and March)
and then to monthly (April and May). We’re now moving to fortnightly releases. 

2.5X Overledger is now 2.5x bigger (April)  

2.0 Re-engineered the entire 2.0 architecture

Open API 3.0 for easy integration into developer workflows

OAuth 2.0 for single sign on for enterprise customers    

Cloud Native Scalable and resilient already, now deployable automatically 

New OVN API 
Subscribe  
Native Transactions 
Payments     

OVL 2.0 Developer portal 2.0