Overledger 2.2.2 introduces new tier-two QRC20 secure smart contract capabilities

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17 March 2022

With Overledger 2.2.2, mDApp developers can now deploy tier-two QRC20 secure smart contracts on the Ethereum Ropsten testnet.

Tier-two QRC20 functionality build on the existing capabilities of Quant’s tier-one QRC smart contracts. QRC20 tokens function like their Ethereum standard counterpart (ERC20), with the same definitions and structure for smart tokens. While ERC20 tokens are designed for deployment on the Ethereum network, QRC20 tokens will be blockchain agnostic and work across multiple distributed ledger technologies (DLTs).

mDApp developers can use our APIs to increase their token supply (deploy and mint) and reduce their token supply by burning their own QRC20 tokens. Once the QRC20 tier-two contract is deployed, a new set of QRC20 tier-one and tier-two APIs will be automatically updated, supporting the newly created tier-two QRC20 token.   

Developers can also create joint and multiple ownership accounts for their tokens using our add account owner API. They will also be able to remove secondary account owners using our remove account API. Future releases of Overledger will enable secondary account owners to make payments on the primary account owner’s behalf.  

For more information on this release and the new APIs, see the Overledger 2.2.2 Release Notes.

Learn more about QRC20 smart contracts here.

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