Quadrant Protocol Provides The Framework For Future Data Platforms

mcdform (46)in #blockchain • 6 years ago (edited)

Quadrant Protocol is building the foundation for decentralized data exchanges.

The big data market growing at a rapid pace that is soon to be accelerated by the data needs of AI-driven products. Quadrant Protocol is in position to provide the framework for all stakeholders in the data market to exchange data for cryptocurrency.

This article provides an overview of the technology, economics, competition, team, token utility, and social metrics that are driving Quadrant Protocol.

Quadrant is not creating a brand new blockchain but instead choosing to use a system of hash stamping and masternodes for data authenticity verification.

The choice to not create a blockchain purpose-built for data verification is commendable in that many teams have recently jumped on the high TPS blockchain bandwagon when they really have no need to.

Quadrant's choice to create a protocol that will allow others to utilize their data verification consensus model, as well as their ability to create value-added datasets, is a wise one. By building on top of the Ethereum network Quadrant has bypassed unnecessary research and development.

Most important Quadrant Protocol has a testnet that is currently operating and is proving capable of stamping data feed signatures at a rate of 1.92 TB of data per minute onto the chain.

Quadrant is going to produce 1 billion eQUAD tokens and is offering 40% for sale. The team is looking to raise $20 million from the sale.

It appears that 40% of the total supply will be in circulation 30 days after the TGE. The remainder of the tokens have various vesting schedules.

As described later eQUAD tokens will be traded (in the protocol) for a secondary token in a 1:1 ratio.

The blockchain data project sector is rich with competition including Opiria, pData, Repux, and others.

The differentiating factor between Quadrant and the rest is that Quadrant has a working testnet, a built in partnership with a live data company DataStreamX, and the ability to create value-added data products.

Quadrant is the only data project that will use Elons, or 3rd party data analysts, that will find linkages between datasets and produce ready to use data analytics for the end consumer.

Many online reviews have knocked the Quadrant Protocol team for being inexperienced or lacking "All-Star" caliber talent.

I find it difficult to judge teams based solely on LinkedIn profiles and in the case of Quadrant, there is more to judge them on. With a working testnet, it is apparent that the team is capable of creating more than just an MVP.

The CEO Mike Davie has years of experience at Samsung in Korea and understands how businesses operate. He built DataStreamX into working data company and is integrating them as the first client on the Quadrant.

Mr. Davie has filled out his team with members from DataStreamX and added key advisors including Dorjee Sun (COO Santiment) and Pavel Bains (CEO Bluezelle).

Quadrant Protocol uses a two token model which is becoming more popular in the blockchain sector. The eQuad token is a tradeable ERC20 token that is used to purchases QUAD tokens.

QUAD tokens are the internal currency of the project and will be used for all transactions over the protocol.

eQUAD tokens will be exchanged for QUAD in the protocols gateway. eQuad tokens have the added utility of being required to stake for masternodes in the future.

Quadrant Protocol's social presence is growing with a telegram following of 14k+. The Medium blog is not highly active but has key posts describing advisors, partnerships, token economies, and sale details.

The partnerships for Quadrant are key and it has been announced that a partnership with Singapore's Info-communications Media Development Authority (IMDA) has been finalized. The IMDA is a government authority in Singapore.

The recent sign-on of Kinetic Capital has also fueled the excitement around the project.

In terms of FUD, there has been some talk that the team rebranded from DataStreamX in order to lure investors.

This does not seem to be the case as the team has mentioned that DataStreamX is a single data exchange business. Quadrant Protocol is the framework that all data exchanges could theoretically use. Therefore Quadrant has more reason to be on the blockchain and will provide value to more than just one company.