ELI5: Quadrant Protocol
Quadrant Protocol is going to create the framework for data providers, analysts, and consumers. As a protocol Quadrant will set the rules that govern the network and its internal currency QUAD will be the gas that powers all transactions.
How Does Quadrant Stack Up?
In order to understand Quadrant, you have to understand the common blockchain tech stack that is composed of products, platforms, and protocols.
In the space-themed Quadrant ecosystem data is the product, platforms are the applications that users utilize to exchange data products, and the protocol sets the rules for how this can happen.
This means that almost any team looking to build an exchange for data and data products can use Quadrant Protocol as their foundation.
Quadrant will provide the necessary framework for platforms to collect and stamp data, verifying their authenticity and provenance. It will then allow platforms to combine this raw data into datasets and have it analyzed by data scientists before being sold to data consumers.
Why Not Just Create Their Own Exchange?
Have you heard the saying "Give a Man a Fish, and You Feed Him for a Day. Teach a Man To Fish, and You Feed Him for a Lifetime"?
Quadrant studied the blockchain space before entering the market and saw that there were many data products trying to do what DataStreamX is already doing.
Instead of directly competing with them Quadrant decided they would "teach them how to fish" and give them the tools to build their own exchanges.
Now each data project that enters the blockchain space only needs to acquire data providers, data consumers, or data scientists and not spend the time or money developing the blockchain based tech stack.
Interestingly, DataStreamX is still operating and the team plans to use the business as a built-in test subject for Quadrant Protocol. This will allow the team to move real-life clients, data, and transactions to the protocol while building it out.
Is Quadrant Protocol its own Blockchain?
No Quadrant is not its own blockchain but it operates using what the dev team has called a side chain of Ethereum.
Quadrant will operate on a Proof of Authority consensus mechanism that enables it to facilitate a higher number of transactions, at a faster rate, all while charge less in gas fees.
This consensus system will work in conjunctions with a set of Guardian Nodes (think masternodes) that will anchor Quadrant transactions to the Ethereum blockchain.
Protocols, Platforms, and Products
In the end, the success of a product depends on one team, one marketing division, and a long list of customers. Products have a high possibility of failing.
In order to minimize these risk teams create platforms that offer multiple products. The success or failure is not dependent on any one product.
A protocol takes this to the next level by hosting multiple platforms. Protocols create entire universes of products by linking platforms in ways singular platforms cannot. Protocols not only limit their own risk of failure but also help to provide platforms and product providers with a greater chance of succeeding.
For More Information
📅Token Sale Dates: June 26th, 2018 (Whitelist Filled in 8 Minutes)
📈Token Ticker: eQuad
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