LONDON and ZUG, Switzerland, April 10, 2018 /PRNewswire/ --
- Overledger is a game-changing blockchain operating system that connects existing
networks to blockchain and facilitates multi-chain app development
- Quant pre-sale of 15 million tokens sold out (valued at USD$15M) as it enters Public
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.
Every day, more and more Enterprises (and consumers) are turning to blockchain for solutions to modern-day challenges - from the pharmaceutical sector securing global supply chains [http://fortune.com/2017/09/21/pharma-blockchain ] to consumers being able to verify the authenticity [http://www.ibtimes.com/blockchain-technology-could-solve-problem-fake-sneakers-2334829 ] of their high-end sneakers. The technology is yet to be adopted on mass, however. This is in part due to its current limitations, which include the inability of blockchains to communicate and work with each other at an Enterprise level.
The launch of the patented blockchain operating system Overledger will fundamentally change the current situation as it not only enables interoperability between blockchains but also connects the world's existing networks and the Internet to blockchain. Furthermore, it allows developers to build applications across multiple ledgers or multi-chain applications (MApps), meaning that developers can harness the power of multiple individual blockchains to build the most effective solution instead of being confined to just one ('single-ledger dependency').
"Overledger ensures that companies and developers aren't restricted to or dependent on a single technology," explains CEO and co-founder Gilbert Verdian. "Instead, they have the flexibility to easily migrate to another technology when required. As well as boosting their resilience by limiting their risk and exposure, this also allows them to unlock cost savings by better managing consensus fees, which are set with no option to remediate."
The Quant Network team (founded by industry experts) recognises that addressing interoperability in the siloed cryptosphere is a complex challenge and not a novel concept, but they are confident that the Overledger platform and protocols will successfully do just that.
"When we designed Overledger we were acutely aware of the challenges facing companies across the public and private sectors, based on our extensive first-hand experience as former executives of large enterprises both in the private and public sector," says CTO Colin Paterson. "As such, we not only recognise the tangible solutions that blockchain offers businesses but also know only too well just what a complex challenge it can be for a large company to adopt any new technology. That is why we've engineered the Overledger technology for Enterprises and developers to be seamless to implement and compliant with internal and external security and regulatory requirements," he adds.
"This means that a company need make only minimal changes to its existing systems and networks in order to connect to blockchain."
Quant Network's Overledger is not the first system that attempts to address the challenge of interoperability. What appears to set it apart is its Steve Jobsian approach [https://www.nasdaq.com/article/what-i-learned-about-bitcoin-could-make-you-a-fortune-cm930436 ] - taking a very complicated technology and making it much easier to use. Other projects focusing on interoperability often seem to add complexity by adding another blockchain on top of existing ones, by introducing another consensus mechanism, or by imposing limitations.
"What is fantastic about Overledger is the originality of its reference model for how distributed applications can communicate with each other over different blockchain protocols and networks without the need to resort to external gateways or connectors," says Chief Strategist and Digital Economist Paolo Tasca.
The Quant Network team's accelerated roadmap promises to deliver elements of the Overledger platform over the next few months, with their MApps store set to open in the second quarter of 2019. The team feels this will have broader implications than we may realise.
"Enabling cross-chain communications -including the recognition and transfer of transactions - is not dissimilar to opening borders to allow international trade," explains Verdian. "It will usher in a new era of digital economic growth and prosperity not unlike the industrial revolutions of the past."
Time will tell whether we are on the brink of a fourth industrial revolution, but having witnessed a similar effect in the early days of the Internet, where closed networks such as AmericaOnline and Prodigy flourished once they had connected seamlessly using standard protocols, the promise of a new revolution may be closer than we think.
The Quant Token Sale runs from 2-30 April (https://www.quant.network).
About Quant Network
Quant Network CEO & co-founder Gilbert Verdian joined forces with two leading experts - technology innovator Colin Paterson and digital economist Dr Paolo Tasca - in 2016. Their combined expertise and in-depth knowledge of this space is impressive.
CEO - Gilbert Verdian has worked in cybersecurity for 20 years at CIO/CTO/CISO level in the financial services, government, consulting and industry sectors. He is also the founder of Blockchain ISO Standard TC307, a group of 40 countries working together to develop the standard.
Chief Strategist - Paolo Tasca is the founder and Executive Director of the Centre for Blockchain Technologies at University College London, the world's largest blockchain centre. He is a digital economist with an economics background in central banks.
CTO - Colin Paterson is a technology innovator with 20 years of experience in information, cybersecurity and AI across the financial services, government and industry sectors.
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