Quant Network: A Competitive Analysis
The current state of Blockchain exists as multiple separate proprietary networks that operate in isolation, the antithesis of community-driven decentralized networking. The problems in Blockchain are not unlike the originating factors that plagued the adoption of the internet: lack of protocol standardization, disjointed and unusable networks. The standardization and implementation of TCP/IP created the solution to inter networking in which multiple separate networks joined into a network of networks.
The space for functional Blockchain interoperability (i.e., a Blockchain inter-network) has ballooned, with companies popping up to be the Blockchain networking solution provider. Although these projects each seek their own unique way to attain the desired results. The experience, technology, and availability of solutions from the Overledger team stand to eclipse the competition in mainstream adoption.
About Quant Network / Overledger
Overledger aims to provide an agnostic multi-chain operating system that allows end-to-end communication across multiple Blockchains & networks. Creating Blockchain ISO standards and development teams willing to work with existing enterprise infrastructure, Overledger is aiming to set the stage for future Blockchain specifications. Overledger’s industry experienced team focuses on being able to construct useful networks without significant overhauls to Blockchain infrastructure. Since Overledger is an Operating system that sits on top of Blockchains, this is done with the absence of middle-ware and the need for compromising current technologies.
Overledger / Quant Network
* Patent-pending blockchain Operating System (OS)
* Agnostic Platform
* Cross Blockchain communication
* Connects to legacy networks and enterprise systems
* Open source
* Creation of Blockchain ISO standard — TC307
Aion is a 3rd generation multi-tier Blockchain system that supports custom Blockchain architectures. Forming an alliance with Icon and Wanchain, Aion hopes having access to current Blockchain solutions and their projects will allow them to build a system that delivers and communicates with existing networks, this venture is known as the Blockchain Interoperability Alliance. Unlike Overledger, Blockchains communicating over the Aion network must become Aion-1 compliant, necessitating a need for change to their existing infrastructure. The CEO of Aion states that standardization should occur after adoption, this is in stark contrast to Overledger’s business model and the propagation of the current internet which was standardized then adopted en masse. The scalability of Aion’s solution may prove difficult as the rapid growth of Blockchain technology continues and Aion, without the benefit of open source, is tasked with ownership of development.
* Aion — Interoperability Alliance
* 3rd Generation Blockchain system
* Supports custom Blockchain architectures
* Users can exchange data through Aion compliant Blockchains
* Requires protocol to be compliant with Aion to connect
Cosmos hopes to build the “Internet of Blockchains” by utilizing Blockchain hubs, these hubs are essentially live clients for Blockchains. Cosmos hubs provide connectivity over multiple Blockchains with a long-term goal of providing multiple hubs for Blockchain interoperability. The creation of Blockchain hubs can lead to the obfuscation of Blockchain networking since each hub may facilitate different sets of Blockchain communication. Currently, Cosmos; powered by Tindermint, a Blockchain middle-ware that serves as an intermediary between Blockchains.
Cosmos by Interchain
* The “Internet of Blockchains”
* Creates Blockchain hubs
* Powered by Tindermint blockchain middleware
* Requires Cosmos protocol compliant Blockchain
Polkadot aims to create a network of Blockchains allowing the connection of public & Enterprise Blockchains. Polkadot consists of three parts, Relay Chains, Parachains, and Bridges, with Relay chains prioritize consensus and the transport of transactions between Blockchains. Parachains are sub Blockchains on the network that gather and process transactions. Parachains cannot maintain their consensus system and must adopt Polkadot’s pooled consensus to use the protocol. Polkadot can make it easier for new Blockchains that want to utilize their consensus, but difficult for existing Blockchains. Bridges are their solution to link Blockchains with their consensus systems.
Polkadot by Parity
* A heterogeneous multi-chain technology
* Standard Consensus pool
* Supports existing Blockchains through the use of bridges
* Parachains must adapt to consensus
Interledger aims to make the movement of money as frictionless as the transfer of data. Existing as a suite for interoperability between different ledgers, Interledger defines a protocol that allows for trustless escrow. The Interledger architecture currently functions with four layers, the ledger layer, the Interledger layer, the transport layer, and the application layer. The Ledger layer houses the protocols (ex. Bitcoin, Ripple, Digibyte). The Interledger layer associates information that necessitates the transfer to another layer. The transport layer uses UTP (Universal Transport Protocol) to transfer currency and conducts retries similar to TCP/IP using UTP. The most distinct layer — the application layer — handles application protocols. Interledger, unlike the other projects, does not facilitate the transfer of Smart Contracts.
Interledger Protocol by W3C
* The internet of payments
* Currency transfer
* Protocol suite
* Connectors that act as trustless intermediaries
With the current state of Blockchain plagued with issues of interoperability, scalability, and governance, we’ve seen an industry with promising decentralized technology move toward isolation. Overledger, Aion, Cosmos, Polkadot, and Interledger all have their own unique set of solutions to overcome these issues, hoping to turn the current isolated state of Blockchain into a new and evolving network community. Aion’s interoperability alliance, Cosmos’s Blockchain hubs, Polkadot’s Parachains, and Interledgers focusing on currency, all offer uniquely tailored versions of a solution. With patent pending technology behind Overledger, their multi-faceted approach to solving existing problems in Blockchain and pre-existing problems in technology, Overledger has emerged as the premiere interoperability technology ready to tackle these obstacles. Overledger’s multi-chain applications (MApps) are essentially DApps that seamlessly run the same business logic across different Blockchain networks and protocols. Overledger is also pioneering Treaty Contracts, their solution for multi-chain smart contracts. The CEO of Quant Network Gilbert Verdian who has over 20 years experience in financial services, and founded the Blockchain ISO standard TC307 with over 40 countries cooperating. With Overledger, the problems of Interoperability, Scalability, and governance will be a reminiscent conversation in Blockchain.