Oneledger is a universal protocol for an interaction of different blockchains with each other :) There are a couple of projects that are working hard to solve the same issue: interaction, integration and cross-platforming, but OneLedger much differs of Aion and others. The main goal of OneLedger is to make a quite simple solution for blockchain integration and wide use by anyone. To reach this goal team is going to provide customizable API for interaction with all blockchains (public/private) with modularization tools.
So let's review all features one by one:
- API gateway
Let's say you own a large business and want to integrate it somehow with bitcoin or Ether. In this case, OneLedger will set up dedicated side chain to interact as a bridge between your business and blockchain. Then you use API to send transactions and so on. Such solution will core network OneLedger.
- Side Chains
Side chains can be both public or private and permissioned or permissionless. Actually, the creation of private side chains for business and enterprises is going to be to one of the options for monetizing the platform. Moreover, such approach guarantees that main chain will be always reliable and keep high performance.
- Smart Identification
This function provides identification of all wallets/assets that user has across multiple blockchain networks and confirmation of access by signing public keys with a unique master key, generated by OneLedger. Identification also allows creating permissioned or permissionless side chains. Due to the flexible access settings, side chain creators will be able to search for users, as well as select a node for storing your side chain data and so on.
- Synchronization with any other blockchain
Any side chain can be synchronized with the current state of any external blockchain/cryptocurrency with any type of consensus if it supports Time Lock Contracts (HTLC) technology and payment channels (bitcoin, ethereum and so on). Such feature may be used for a direct swap of cryptocurrencies without help of centralized exchanges or middleman.
- Chaincode Service
To provide multi-platform compatibility for smart contracts Oneledger is developing special SDK, which allows users to deploy one master contract and then specify all contracts written on each language they need.
- Extendable Interface
OneLedger will create a business portal to provide the set of development tool for easy setting workflow and generate chaincode with pre-defined modules. Such solution should be rather user-friendly and will allow to map business module with any level of blockchain experience.
What more you need to know
The most interesting part of this project is the architecture of OneLedger platform: hierarchy of consensus protocols, voting system itself and a public consensus. This section is very qualitatively described in the whitepaper, probably this is one of the most technically skilled descriptions of the blockchain platform that I ever reviewed before.
Project released very accurate roadmap without unnecessary features. Testnet for Ethereum side chain will be released at the end of Q2 2018 and it will be synchronized with the OneLedger protocol. But the most important milestone is release of MVP in the next month! There is no working product right now and this is one of the main cons of this project but we will get working alpha version till the end of 2018.
An incredibly cool team, half of the core members worked earlier in IBM, Meizu, Microsoft and Nokia! The same strong board of advisors + an impressive list of partners/investment funds that backed the project. How do you think, what are the chances of success for OneLedger?
Links:
Website: https://oneledger.io/
Telegram: https://t.me/oneledger
Blog: https://medium.com/@OneLedger
