Well we are all witnessing times when ICOs appear and fade away with an incredible velocity.
During these times, we - as blockchain enthusiast and crypto investors - need to be very focused and capable of choosing the best investments.
A friend of mine recommended OneLedger a month or so ago and now I regret for not investing during the private sale.
Needless to say - this is not financial advice, do your own research.
But what is OneLedger and why I plan to participate in the public sale?
OneLedger is a protocol that wants to offer enterprises the technology for instantiating their own blockchains (as side-chains of public chains like Ethereum or Bitcoin).
Thus, the company hopes to simplify businesses’ adoption of blockchain technology and its integration into their specific business applications and products.
Why is this so special?
Businesses are somehow reluctant to use public blockchains because of the following reasons:
1. They still have scalability problems. About Ethereum and article in Forbes says
The platform can’t handle the transaction volume of even, say, all the serial numbers transferred in the pharmaceutical industry per day, let alone every potential industry that begins implementing blockchain technology
2. They are unable to use microtransactions because of the scalability and the high costs per transaction. The same article states about Ethereum that
However, on the Ethereum public ledger, the ‘gas’ prices are so high that for one individual asset to be registered to the public chain, it is three or even five dollars, which isn’t scalable.
3. They can't create a permissioned blockchain and choose/validate the miners that generate consensus and store the blockchain
OneLedger sets up to solve the above problems and much more by offering:
- High scalability using sharding and a modified consensus scheme
- Permissioned or permissionless side-chains - businesses and individuals can leverage the platform to create both public and private blockchains with their own uniquely-identified network consensus
- Separation of read and write access - with the use of role control, enterprises can also separate read and write access on their permissioned network
- Consensus across different blockchains - the ability to expand and query data in other chains is made possible through compatibility with other blockchain networks by leveraging side-chains
- Ability to store data in a blockchain based architecture (on the side-chains) by leveraging IPFS
- Smart contracts - individuals participating in business activities can effectively become their own smart contract performers and data sharing peers
- Smart identity management through the use of public-private key pairs, thus creating a hybrid decentralized “web of trust” combined with PKI
- An SDK that eases the process of porting and deploying smart contracts across multiple platforms. OneLedger’s SDK will allow users to define a “master smart contract” that specifies the smart contract written in each language of choice. The developer can then launch the dAPP on multiple platforms at once by specifying the desired platforms within the master smart contract.
- Client-side REST API interface - a set of APIs are made available for chain-code to directly interact with the stack to execute transactions and query transaction results.
- Extendable interface to allow the communication between multiple ledgers
- Business Center - tools within the business portal, enabling users with any level of blockchain experience to map their business module onto the blockchain, generate chain-code through developer-defined modules, and tag the process throughout the flow
All this and an all star team and great advisors make this project a good long-term choice in my opinion.
The team, hype, token metrics and other important information have be reviewed a lot by other users on Steemit.
Further readings:
- A great article on hype, team and the status quo as of 5th of June
- Other great articles that drew my attention you can find here and here
That being said I hope this article shed some light on this project in a short span of time - a thing much needed nowadays.