The advancements in technology have reached the point where even the simplest of algorithms have the ability to react automatically to the data which is fed to them and evolve their functions based upon the presented information.
It is extremely important that said data remains authentic in order for these algorithms to do their work properly, since it functions as the base of crucial mechanisms that are then applied to different segments such as search engine rankings, digital assistant behaviors, and AI in its most advanced form in segments like adaptive robots and self-driving cars.
The imperativeness of accurate data does not only end at the usage of algorithms, but also applies to business research, product development, service improvement, and various other aspects that are crucial to the success and delivery of business solutions over different platforms.
While giants such as Facebook and Google easily collect customer data in exchange for provided services, medium to small businesses that do not boast of having a global social network or next-generation email services under their belt are left stranded for data collection, where they often need to pay very high prices for data which actually cannot be verified for authenticity through a valid third party.
In this mechanism, the data they get is what they have to use, with no means of testing its viability. This wavers their confidence in not only their own developed solutions but also in the vendor from whom they are purchasing the data in the first place. Needless to say, this creates an air of hostility and unreliability in an otherwise cooperative atmosphere.
That is where Quadrant Protocol comes in as a solution to authenticate data and information through various platforms so anyone utilizing any sort of permissible third-party information in their solutions could have the peace of mind of using the most reliable information that the world has to offer.
What is Quadrant Protocol (eQUAD) and What Does It Do?
The Quadrant Protocol acts as a verifier of data by leveraging the transparency, security, and authenticity of blockchain technology.
By using its multiple layers that segregate between Data Producers and Data Consumers, Quadrant Protocol will ensure that any data which is brought upon its blockchain is thoroughly vetted by the usage of intricately-created yet easily-applicable smart contracts, after which it could be presented to Data Consumers with the assurance of the data being completely authentic.
The data that is recorded and verified on the Quadrant Protocol could be shared with select entities upon their remuneration for the data, which could be carried out by Data Vendors whose purpose will be to find new buyers for the data that they represent. Since the transactions of data purchases will also be facilitated by the Quadrant Protocol’s blockchain, these dealings will remain completely secure and just as reliable as the data that is being transacted over the platform.
Quadrant itself will be functioning as a Proof of Authority blockchain with a governance model where “Elons” will be able to oversee the network’s day to day operations through a consensus model that would be backed by staking, so that the protocol remains self-sustainable while also being able to fulfill the high service requirements that are demanded by its users.
In addition to this Proof of Authority blockchain, Quadrant Protocol will be utilizing another blockchain for security and reliability purposes, where it will be using Ethereum as a Proof of Work chain to supplement its multi-chain structure. However, it explains that it can switch to another platform in the future in case there is a need to do for the betterment of network functions.
The data that will be processed through the Quadrant Protocol will be arranged through “Constellations”, where each constellation will be able to denote to a smart contract on the protocol. In case any Elon’s find that a Constellation is a perfect blend of information for another set of data, then they can combine the Constellations into a set before offering them to Data Consumers through Data Vendors, thus moving towards providing solutions that would be a rarity to see from other data providers.
About the eQuad Token and Its ICO
Quadrant Protocol will be utilizing two tokens, a QUAD token and an eQuad token.
The QUADs will be used as a utility token on the platform that will be utilized to verify the data, create and maintain access protocols and also to allow Elons on the network through staking; whereas the eQuads will be the main means of exchange outside the platform for now, where users will be able to exchange them for QUADs on the Quadrant blockchain once its mainnet is launched. The eQuads are ERC20 tokens that are created for the crowdsale event that is being held by the Quadrant protocol.
The crowdsale and the subsequent token generation event has a hard cap of $20 million dollars. The Quadrant Protocol plans to create 1 billion eQuads during the crowdsale event, the distribution allocation of which is outlined below.
20%: Held by Company
The crowdsale for eQuads is currently in progress. It started on June 26, 2018 and is slated to end within a 30 day period on July 26, 2018. The value of 1 eQUAD has been set as $0.044.
The project accepts Ether (ETH) as its mode of payment.
Quadrant Protocol Team
Quadrant Protocol boasts of a team of young individuals who present to have ample experience in their respective fields with pre-existing LinkedIn profiles which detail their tenure before the Quadrant Protocol was formed.
The project’s founder and CEO is Mike Davie, who holds experience in communication technology and data science. He was previously associated with DataStreamX, another blockchain-based data authenticity network.
Other members in notable positions at the Quadrant Protocol are Barkha Jasani and Sharique Azam who serve as the project’s director of engineering and big data & blockchain engineer, respectively. Both of them boast of notable expertise in their fields. The other members of the team also have similar profiles available for them on the official website as well as their LinkedIn profiles.
Is Quadrant Protocol a Viable Project?
Quadrant Protocol certainly presents solutions to a problem that is going to be even more prevalent with time, especially due to how data is gradually being considered as the gold mine of the future.
The project presents disruptive ideas to manage the day to day operations; while the offered ideas might not be exclusive to Quadrant Protocol, they certainly deserve a mention and thus warrant anyone with an interest in these solutions to have a look at what Quadrant Protocol has to offer.