QUADRANT PROTOCOL: ENTERING INTO THE ERA OF RENNOVATED DATA MARKETPLACE

lollyk (35)in #ico • 6 years ago (edited)

INTRODUCTION

The issue with the authenticity of data has been a great challenge to majority of the data driven companies. Data has been known to be the driving force behind most of the activities of the digital trading companies; meaning that when the authenticity of the data purchased is not up standard, their trading activities is at stake. There has been various platforms like Oracle cloud, Alpine Data, and others, through which data can be purchased. However, aside from inaccurate authenticity of data, the data purchase marketplace is also faced with other challenges which are mainly due to centralization. Nevertheless, QUADRANT PROTOCOL has emerged to solve the challenges occurring in the ecosystem.

INTRODUCTION TO QUADRANT PROTOCOL

Quadrant Protocol is a newly invented block chain based ecosystem for the revolution of the data marketplace. It is a platform for the transformation of the centralized mode of operation in the data ecosystem to a decentralized mode. It has the aim of creating a protocol that will give individuals the opportunity to create, distribute, and also have streamless access to data services.

PROBLEM OVERVIEW

Poor quality of data has been a great issue in the data marketplace, this is mainly due to the unconforming authenticity of data. Both small and large data driven companies have been seriously disturbed due to this issue. Statistics recorded that more than 90% of these companies have been negatively affected.

Centralization is also one of the main problems facing the marketplace. Individuals and businesses do not have direct access to data, except through middlemen which in turn lead to high cost of transaction. The ecosystem is also seriously in an unorganized state.

APPOSITE SOLUTIONS VIA QUADRANT PROTOCOL

Firstly, the platform will combat the issue of inauthenticity of data by making use of proof of authenticity consensus algorithm. This will orchestrate trust within the data ecosystem. Individuals or businesses can have the proof of how authentic the data they are purchasing is. Every of the data on this platform will have a stamped record of its origin which will be accessible for all participants. These records is base on blockchain, therefore it cannot be changed or manipulated. This give a great relief!

Secondly, the issue of centralization will be solved by the introduction of decentralization into the ecosystem through a public distributed ledger. This will give everyone a seamless access to data and also eradicate all form of middlemen.

The issue of unorganization of the platform will be treated by bringing together various data sources to form a cluster of data sources.

HOW CAN A USER BENEFIT

Every data users will be able to gain direct access to authentic data even at lower cost. Data producers too will have access to a more efficient and incentivizing trading ecosystem.

INCENTIVIZING TOKEN SYSTEM

The platform has a token system which is Ethereum backed,it is used in exchange for transactions on the platform. The tokens are equad and Quad. It has an exchange rate that is relatively constant.

Conclusively, Quadrant protocol is an effective and reliable revolutionary of the data marketplace.

THE OUTSTANDING PROJECT TEAM