Quadrant (EQUAD) ICO

updated 18 July 2018

A blueprint for mapping decentralized data

Whitepaper
Token sale info
LVL
Status: ended
Start: 26 June 2018
End: 26 July 2018
Cap: 20 000 000 USD
Goal: 3 000 000 USD
Price: 1 EQUAD = 0.04 USD
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Project description

Quadrant protocol ensures creation of a plan for mapping disparate data sources. It will support the function of validating data and provenance by creating so-called constellations. These smart contracts are designed for disparate data sources, fair rewards and incentives. Data consumers will be able to trust the reliability of the data they buy thanks to nurseries smart contracts and receive compensation for each use. Pioneers or data providers will be encouraged to create innovative constellations. This innovative transparent ecosystem ensures companies to obtain the reliable data they need. The greatest potential of the project lies in the possibility provided to elons. They represent the brightest data nodes and provide a link between different constellations, and can also create mega constellations that will be used by data consumers to solve real problems.

Features

Quadrant is designed to work both with centralized and decentralized services. Its architecture consists of a key quadrant block or clients (Data Producer, Data Consumer and Anchor) and nodes (Guardian). The system will be based on the authorization mechanism which will be able to handle more transactions, work with a lower commission, provide faster transactions and limit the entry of malicious nodes into the network. For security purposes, an external PoW algorithm is used. At the initial stage of the system development, it will be based on the Ethereum blockchain, but if necessary, it can be replaced by any other public blockchain. The system's protocol balances all discrepancies in various data sold by suppliers and received by customers. Thus, each participant in the network is given a fair opportunity to compete and grow, regardless of her status and income level. The blockchain is designed in the form of a community that unites data producers, suppliers and consumers so that everyone can honestly assess the optimization of the development, sale and purchase of data, depending on the situation. The system has all the necessary functions that help to verify the reliability of all uploaded data.

  • Data verification protocol. All incoming data is carefully checked when uploaded to the blockchain, and then receive (or not) get the genuine status. This procedure is performed before the data is added to the constellations, and then sold by data providers. After verification, the protocol gives a green signal that the new data has a genuine source and can be added to the system.
  • Guardian nodes. Another element of the protocol provides the integrity of the blockchain and ensures that all of its genuine data remain intact. They are responsible for confirming transactions involving constellations and adds new blocks to the Quadrant blockchain.
  • Open constellations. The Open Constellation function will allow both data consumers and suppliers to set the conditions under which they can buy or sell data. Suppliers will, at their discretion, create smart contracts and offer them to potential data consumers. The latter, in turn, can also customize smart contracts according to their own conditions, and then send them to the pioneers.

Team

The Singapore Quadrant company develops the project. More than 10 specialists and advisers work on the creation of the system, including Mike Davie, founder and CEO of DataStreamX, Barkha Jasani, Head of Research & Development at DataStreamX, Sharique Azam, a Big Data experts, and others.

Tokens

Quadrant will use two different currencies:

  • QUAD, the utility token, intended for use on the network only. It will be used for stamping data, maintaining simple and complex access structures, simple and complex subscription payments and for Elons clusters.
  • eQuad is a marker that is compatible with ERC-20, which will be sold during the Token Generation Event (TGE). It can be converted to QUAD via the gateway when the main Quadrant network is launched.
TGE will have a solid capitalization of $20 million. If TGE exceeds $7 million, the collected fees will be blocked and transferred within 4 years, with 40% of them becoming available after the sale of eQuad tokens is closed, and the remaining 60% will be issued annually for a fixed rate of 15%. This is designed to ensure the long-term success of the Quadrant, eliminating the risk of cost overruns in the early years. Citizens of the United States of America, Canada, New Zealand, the People's Republic of China and the Republic of Korea or those who failed to pass the KYC / AML examination will not be able to participate in the Quadrant ICO.

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