Blockchain technology is making massive strides and more and more people are waking up to the realization of the solutions that this relatively new round of technology offers with even institutions not getting left behind. The blockchain revolution is sweeping through the whole world like a wild wire with many governments in the last couple of months looking for ways to explore this amazing tech. Recently, the Chinese President Xi Jinping said China must make a “greater effort” to develop and apply blockchain technologies and gain an “edge over other major countries.” The comments came just one day after Mark Zuckerberg appeared in front of the U.S. Congress to make the case for Libra. Zuckerberg argued, “China is moving quickly to launch a similar idea in the coming months. We can’t sit here and assume that because America is the leader today that it will always get to be the leader if we don’t innovate.”
A blockchain is a time-stamped series of immutable records of data that is managed by a cluster of computers not owned by any single entity. Each of these blocks of data (i.e. block) is secured and bound to each other using cryptographic principles (i.e. chain). The blockchain network has no central authority — it is the very definition of a democratized system. Since it is a shared and immutable ledger, the information in it is open for anyone and everyone to see. Hence, anything that is built on the blockchain is by its very nature transparent and everyone involved is accountable for their actions. Blockchain brings solutions such as trust, security, and transparency to supply chains, global trade, international payments, transport system, healthcare and much more which is why the tech is in high demand with many institutions keen to explore this newfound tech.
OneLedger is one of many blockchain projects out there trying to bring blockchain solutions to enterprises and ensure the mass adoption of this tech in supply-chain, logistics, transports, and many other industries. As the name suggests, OneLedger is a universal protocol that aims to solve the problem of interoperability by ensuring different blockchains e.g. btc, eth, neo, xlm can all interact with each other on the OLT protocol thereby making the process of enterprise blockchain adoption smooth and easy. Different blockchains have their strengths in different aspects like scalability, throughput, smart contracts, etc. OneLedger ensures that enterprises have access to all these solutions on a single platform with the use of a customizable private/public sidechains.
OneLedger was launched during the dip of 2018 around June but the project has been focused on building the platform with the testnet and explorer already launched. Going to the first quarter of 2020, the project looks well set to bring more enterprise adoption of blockchain technology. There many triggers that make OneLedger standout going into the new year and I’ll discuss the main ones here.
OneLedger Mainnet Launch
OneLedger was launched in June 2018 and ever since the team has been committed to building the platform to become enterprise-ready and it’s all coming together now with the mainnet expected to launch in the Q1 of 2020. This will be a huge milestone for the project which is a member of the BiTA which comprises some of the biggest companies from the supply chain, transport, and logistics sector meaning these companies can start leveraging blockchain solutions through the OneLedger platform soon.
Here is the Mainnet roll-out schedule:
https://www.oneledger.io/blog/kainos-launch-announcement
OneWallet Launch
OneWallet is an interoperable wallet that handles transfers from different blockchains e.g. Ethereum and Bitcoin accounts into OneLedger, these tokens can then be traded across the OneLedger network instantaneously. The OneWallet also allows for Domain Management and Domain Transfers, providing a user-friendly naming convention for sending tokens on the networks we support. OneWallet is comprised of OneVault, a local storage component, and the OneLedger SDK. OneWallet is the true definition of interoperability as it will allow people to be able to manage their assets on different blockchains on a single wallet and lets them perform transactions across different chains.
Learn more on OneWallet here:
https://www.oneledger.io/products/onewallet
Staking
Staking is another interesting feature that will be coming on the OneLedger network after mainnet launch. Staking allows anyone to earn passive income on the network by helping to secure the network running OneLedger node. Staking on the OneLedger network is easy and anyone with the hardware requirements and token requirements can stake their tokens. Minimum of 3M tokens will be required to run a validator node on the network and people who can’t afford that much can also stake by delegating their tokens to validators and earn a portion of the network fees. Staking on the OLT platform has dual advantages as it gives people the means of earning passive income and also increases the value of their earnings with staking moping a sizeable amount of OLT tokens from circulation.
Enterprise Adoption
The end goal of every blockchain project out there is mass adoption. OneLedger is no different as it is a gateway between enterprise systems and other public/private chains. OneLedger aims to provide a one-stop solution for enterprise blockchain applications in the form of modules. OneLedger aims to aggressively pursue enterprise adoption once mainnet goes live and they are already preparing grounds for it by being on the Google Cloud Platform (GCP) which exposes the network to a broad range of enterprises from many industries and also being among different organizations like BiTA which is an organization formed to promote adoption of blockchain tech in industries like supply chain, transport and logistics with many top companies already a part of this organization.
With all the above set to come in Q1/Q2 of 2020 from the OneLedger team, I believe exciting times are ahead for this project which makes me believe that this is definitely one of the projects to watch out for in the coming year because there are just so many potentials that this project has got.
For more on OneLedger, please visit the website: https://www.oneledger.io