More about the Quadrant Protocol

scubapr0 (27)in #cryptocurrency • 6 years ago

Quadrant is a blockchain-based protocol that enables the access, creation, and distribution of data products and services with authenticity and provenance at its core. The data economy is similar to space; unmapped and chaotic.
Quadrant serves as the blueprint that provides an organized system for the utilization of decentralized data.
Quadrant helps to overcome these problems by enabling the access, creation, and distribution of data products with authentication and provenance with the aid of their blockchain-based protocol.

What problem is addressed by Quadrant Protocol?

Quadrant Protocol is a Singaporean ICO, started 4 years go by the DatastreamX founder and CEO Mike Daive. Companies today, struggle to create AI innovations and Machine learning tools because they lack access to volumes of data, specifically authentic data needed to power the AI algorithms. There has been an ever widening gap between parties with resources that collect and store their own data and parties that do not. With such an enormous pool of data being created around, the authenticity of the same is unclear. Quadrant believes that this particular gap has been created as the suppliers are not fairly incentivized and fair revenue distribution scheme for both, data producers and vendors does not exist. This is leading to an unhealthy economy in the world of big data and authenticity needs to be met, immediately.

Growth Potential of Quqdrant:

Strong team with data industry experience.
Strong advisory board.
Financial discipline – token sale proceeds are being vested to ensure that initial spending doesn’t get out of hand.
Solution:

Quadrant aims to build the data economy around the silos that large data-hoarding companies like Google and Facebook create, in turn diminishing their power.
Quadrant also aims to address the non-transparency issues in the data industry, which lead to a lot of fraud where companies are hiding their sources. With the transparency promoted within Quadrant, companies will be able to trace the data sources for compliance purposes, as well as ensure that they get the data they paid for and that it is what they want for their application.
As well, Quadrant ensures that all the data providers within the value chain receive proper and fair compensation, as the original creators, dubbed as the nurseries, are often left out when it comes to the profits generated by the data they provide aggregators or companies.

Project:

Quadrant Protocol's answer is to provide a blueprint for mapping and coordinating seemingly unconnected and dissimilar data sources in a way that is veritably authentic, efficient, and gives incentives to everyone involved. Their data stamping process will allow us to confirm data sources and thereby confirm authenticity; if you know the source of your data, you can confirm that the data has not been altered during its 'travels'.

This blueprint is made up of the following components:

Constellations - smart contracts for data
Nurseries - the data producers; compensated fairly every time their data is used by constellations
Pioneers - data vendors - Provided with incentives to create innovative, new constellations (expanding the Quadrant economy and relevance)
Elons - Network actors focused on linking different constellations (the data smart contracts) to create larger constellations to be used by data consumers to solve real-world problems (this would be how actual organic growth will occur)
Guardians - master nodes - Ensure that the constellations created by pioneers (those creating the constellations) are not compromised ; they will stamp, authenticate, and verify data and be compensated for securing the network in this fashion.

Pioneers and Elons can use an open source client to access Quadrant.Contact us if you’d like to start authenticating your data via Quadrant; building data products; utilizing the data; or building services on top of the protocol.Guardians must ask permission to join the network. In this regard, contact us if you want to become an early supporter of Quadrant.
Token and ICO details:

Quadrant utilizes two different currencies for its network: eQuad and QUAD.
QUAD is a token meant to be utilized on the network while eQuad is an ERC-20 biddable token meant to be sold during the Token Generation event (whose reason is not specified clearly).
Price of 1eQuad (ETH) is 0.05USD. The hardcap is set on 20 million USD and soft cap is set on 30 million USD. Token is distributed as:
40% Crowd sale,
20% held by the company,
20% stakeholders,
10% reserve,
10% to the team.
The company still seems to be running a private sale with no information about the Public sale yet.