Quant Network unveiled their game-changing blockchain Operating System at their inaugural Quant X event in London last night.
The ground-breaking innovation reduces the current 8-month lead time and £3m cost that Enterprises endure just to get started with blockchain down to 8 minutes and 3 lines of code.
The evening began with a presentation explaining the high barriers of entry faced by enterprises. When trying to implement blockchain technologies, businesses face a lack of skilled resources, tedious processes, complexity and risk.
World’s first blockchain operating system simplifies blockchain adoption for Enterprise
- Interoperability without additional complexity: The inability of blockchains to work together is a widely recognised issue for blockchain technology. Quant Network demonstrated that it is possible to address this without additional infrastructure or another layer of duplicated consensus.
- Minimal disruption and no forced migration off existing legacy systems:On average, an Enterprise would require a minimum of 8 months and a budget of over £3M to develop and test blockchain technology. Overledger removes uncertainty and barriers by requiring only 3 lines of code.
- Connecting the world’s networks safely: Quant Network has a heritage in Cybersecurity for Government. As a result, they recognise that adopting a multi-chain strategy in isolation is a daunting task. A key advantage of Overledger is creating permissioned networks that do not open up Enterprise to other nodes in a peer-to-peer network.
Building the future with game-changing mApps
Decentralised applications (dApps) can only operate within the confines of a single ledger and cannot scale or migrate off. In comparison, Overledger facilitates multi-chain applications (mApps) which benefit from having the ability to operate simultaneously across multiple different ledgers.
The team demonstrated the innovative use-cases of Overledger mApps in real time. The demonstration began with a search engine mApp akin to Google that can read and view transactions across multiple ledgers. These include Bitcoin, Ethereum and Ripple, with more to be added in the coming months.
The Quant Network team also previewed D-Commerce, a decentralised marketplace, combining the features of multiple blockchains allow for transactions and data across multiple ledgers to be executed.
Developers can start building innovating and game-changing mApps with Overledger from Dec. 1st 2018.