Quant Network and SIA Successfully Tested Blockchain Interoperability | 01 Jul 2020 | London

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The breakthrough was achieved by integrating Quant Network’s Overledger technology into the SIAchain private blockchain infrastructure to enable cross-platform applications and services in Europe and globally.

Quant Network, a leading pioneer in enterprise blockchain technology, and SIA, European hi-tech company leader in the fields of payment services and infrastructures and a subsidiary of CDP Equity, have successfully tested cross blockchain interoperability between multiple Distributed Ledger Technology protocols.

The breakthrough was achieved by integrating Quant Network’s Overledger technology (the world’s only DLT operating system that allows interoperability) into the SIAchain private blockchain infrastructure leveraging on 580 European network nodes within SIAnet (the fiber optic network with high-speed and low-latency stretching over 208,000 kilometres).

This integration provides the ability to bridge permissioned blockchain instances between SIAchain and other external networks – which could not be previously connected – in order to have cross-platform applications and services covering for example notarisation, payments and KYC.

The development of the solution began in mid-2019 and a full program of testing has been executed on SIAchain, R3 Corda and private Ethereum platforms.

Quant Network and SIA will now work together to go to the market developing and implementing further innovative use cases and applications addressing blockchain interoperability challenges.

This important milestone is the result of a partnership launched between Quant Network and SIA that allows mostly banks and financial institutions – through the SIAChain infrastructure – to adopt cross-platform and interoperable blockchain solutions and to embrace new business models, improve operational efficiencies and deliver innovation to banking customers.

The partnership between Quant Network and SIA has been extremely positive and productive from the very start,” said Gilbert Verdian, CEO, Quant Network, “and both companies are confident that this development will play an integral part in building the financial infrastructure of the future globally.

“The achievement of a fully interoperable blockchain network, through our collaboration with Quant Network, is another key-element in our path of bringing innovation and state-of-the-art technologies for supporting banks, financial institutions, corporates and public administration bodies to extend their capabilities in integrating different DLT business applications” said Daniele Savarè, Innovation & Business Solutions Director SIA.

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