Quant Network Unveils Innovative Blockchain Operating System Overledger at Inaugural Quant X Event in London | 20 Nov 2018 | London

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Quant Network unveiled their game-changing blockchain Operating System at their inaugural Quant X event in London last night.

The ground-breaking innovation reduces the current 8-month lead time and £3m cost that Enterprises endure just to get started with blockchain down to 8 minutes and 3 lines of code.

The evening began with a presentation explaining the high barriers of entry faced by enterprises. When trying to implement blockchain technologies, businesses face a lack of skilled resources, tedious processes, complexity and risk.

“For the first time, we can honour the original vision of the Internet to create an open and interoperable network for people to operate on. But this time we can do it without the original flaw of having to know and trust everyone within the network.” said Gilbert Verdian, CEO of Quant Network.

“We’ve removed the barriers for Enterprise to benefit from blockchain technology to get started with only 3 lines of code.”

World’s first blockchain operating system simplifies blockchain adoption for Enterprise

  • Interoperability without additional complexity: The inability of blockchains to work together is a widely recognised issue for blockchain technology. Quant Network demonstrated that it is possible to address this without additional infrastructure or another layer of duplicated consensus.
  • Minimal disruption and no forced migration off existing legacy systems:On average, an Enterprise would require a minimum of 8 months and a budget of over £3M to develop and test blockchain technology. Overledger removes uncertainty and barriers by requiring only 3 lines of code.
  • Connecting the world’s networks safely: Quant Network has a heritage in Cybersecurity for Government. As a result, they recognise that adopting a multi-chain strategy in isolation is a daunting task. A key advantage of Overledger is creating permissioned networks that do not open up Enterprise to other nodes in a peer-to-peer network.

Building the future with game-changing mApps

Decentralised applications (dApps) can only operate within the confines of a single ledger and cannot scale or migrate off. In comparison, Overledger facilitates multi-chain applications (mApps) which benefit from having the ability to operate simultaneously across multiple different ledgers.

The team demonstrated the innovative use-cases of Overledger mApps in real time. The demonstration began with a search engine mApp akin to Google that can read and view transactions across multiple ledgers. These include Bitcoin, Ethereum and Ripple, with more to be added in the coming months.

The Quant Network team also previewed D-Commerce, a decentralised marketplace, combining the features of multiple blockchains allow for transactions and data across multiple ledgers to be executed.

Developers can start building innovating and game-changing mApps with Overledger from Dec. 1st 2018.

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