ICO Review - Oneledger

Problem

One of the biggest problems nowadays is the inability for different blockchains to communicate with each other, also known as lack of interoperability. Blockchains operate only within their own ecosystem.

Introduction

The OneLedger ICO and OLT Token are offering a protocol to facilitate enterprise integration of blockchain technology.

Oneledger is a gateway protocol which will let all kind of business applications or individuals to connect to different blockchains via sidechains that are implemented in the One Ledger platform. It will simplify adoption of an integration of blockchain technology for small businesses and enterprises. Those business applications will be able to create their own uniquely-identified network consensus on private and public blockchains they create .

OneLedger will support cross-exchanges and use a system of sharding(used by ziliqa and quarkchain) as well as a sidechain (0chain, lightning network), so that network performance and transaction speed will be extremely high.

Team

Team of 7 with 7 advisors (14 total)-based in Canada. I like the team. They have experience in well-known companies such as: IBM, Nokia, Amazon, Xerox and more. I also like the fact they are tech-savvy with decent entrepreneur background. My only concern with the team is the low number of the blockchain developers given the magnitude of the project.

David Cao — CEO of one ledger, chairman of the Canadian-China-Professional Blockchain Association, has over 13 years of cumulative experience in blockchain technology and enterprise architecture. Has a 19 years of experience in IT, notably IBM (developer — 2.5 years) and Xerox (the leading commercial consultant — 5 years).

Alex Todd — CTA of Oneledger is a Founder and CEO of Trust 2 Pay and former Chief Technology Officer (CTO) of PRESTO.

Stephen Li — Lead Engineer of OneLedger, The developer of blockchain and smart contracts with 15 years of experience as a developer, including well-known companies — NEC (3 years), Microsoft (1 year), IBM (3.5 years), Morgan Stanley (1 year).

One ledger has also a strong advisory board, with notable names such as :

Matthew Niemerg — IBM Center of Excellence Post-doctoral Fellow in High Performance Computing,

Trevor Koverko — CEO at Polymath,

Jor Law — Co-founder of VerifyInvestor.com and founding shareholder of Homeier Law PC.

Partners

• Polymath
• MW Partners
• Wachsman PR
• Trust 2 pay
• Gwei Capital

Competition

ArcBlock, NEM, AION, OverLedger and more.

Token

Project has following token metrics:

Token supply: 100 million OLT
Softcap: 4 million USD
Hardcap: 15 million USD
Public sale: 5 million USD(May, 2018)

Token Use Case

OneLedger will also build a marketplace, which is a decentralized application on OneLedger platform.

Users : Users, including businesses, need to pay a network fee in OLT to nodes to use any services on the OneLedger platform.

Developers : Developers will range from individual contributors, to enterprise teams, to consulting firms. Developers need OLT tokens to deploy their modules to OneLedger platform.

Verdict

Pluses

• Great idea and solution for key blockchain problems
• Low hard cap
• Positive sentiment in the crypto world despite it’s a new project

Minuses

• The project is still at a very early development stage. First version of OneLedger comes out in 2019
• Lack of MVP(coming soon) and just 3 developers given how ambitious the project is
• Lack of a onepager/lightpaper. The project is very technical and hard to digest at first

Overall, I am very excited about OneLedger. I see a well-thought and anticipated solution for key blockchain problems.