UPDATE AND SHORT PREVIEW — QUADRANT PROTOCOL UPDATE


While They work in the background, focusing on building Their product and establishing concrete partnerships, they are very happy to see the gaining momentum and support for Quadrant Protocol.
Here’s an update on recent progress and a short preview of some of the excitement ahead.
Filling Allocations
First, they are humbled and grateful over the huge response to the start of Their private sale.
The results speak for themselves: contribution offers to Quadrant Protocol’s private token sale reached the $3 million soft cap on the first day and doubled that within just 24 hours. This means well over a third of Their private sale allocation was immediately filled — and the contributions keep pouring in.
They are also optimistic that the conversations They are having based on this success are attracting the right kind of supportive strategic investors that can add long-term value to Quadrant.
This is all thanks to the overwhelming support of Quadrant’s growing and increasingly engaged community that has put wind in Their sails as They seek to create the blueprint for decentralized data. Their followers are topping 1,300 on Twitter and They have more than 2,500 members in Their Telegram channel with the numbers swelling each day.
While They still have weeks to go in the private sale, They also plan to keep back an allocation for Their public crowdsale. Overall, Their goal is to raise $20 million, including $5 million in the public sale.
For members of Their Quadrant community who don’t want to wait for the public sale, you can express interest in the private sale on Telegram:
More Partnerships on the Horizon
They also want to whet your appetite a little for what’s to come.
They were proud to have announced Their partnership with decentralized database services company Bluzelle last month. And it won’t be the last. They have more partnership announcements planned over the next few weeks, and suggest you especially mark your calendars for May 21.
Testnet Info Coming Soon!
They will soon release news on Their Testnet, a significant and highly-anticipated step for Quadrant Protocol. They are confident this will reinforce Their credibility within the blockchain community, so please watch this space for details.
Finally, a little further out, They have the public crowdsale. Nearer the time, They will inform everybody who wants to contribute about the whitelist and process for participating. And, of course, They will announce the official start date.
Blueprint for Decentralized Data
So, there’s plenty to keep up to speed on … But let’s not forget why They are doing all this.
As They have said before, They have seen and experienced major issues in the data economy. Quadrant Protocol was created to make the ecosystem a better one for all participants — data producers, data vendors, and data buyers. Quadrant Protocol’s structure as a blockchain-based protocol that enables the access, creation, and distribution of data products and services with authenticity and provenance at its core.
Quadrant envisions a fluid and trusting data economy for everyone by providing a blueprint for mapping disparate data sources.
Areas of Opportunity A perfect storm of supply and demand is brewing within the data economy. As more companies develop in-house data science and analytics capabilities (including machine learning and AI), the demand for data will accelerate exponentially. On the supply side, smartphone penetration, the deployment of big data capturing solutions and the advent of IoT have resulted in an ever-increasing amount of raw data. When taken together, the data economy pie gets larger each day.
However, it will be the demand for 100% authentic data that will grow the fastest. Without it, companies will not be able to achieve the results that they need to succeed in this new, data-driven world.
Until now, the supply side has not been able to meet these demands. The nature of these new data sources is that they are disparate. There is nothing connecting them together in a way that they can be easily accessed and then used to power innovation. Data Vendors have not been able to do it—they continue to provide data that cannot always be trusted, while data producers lack the proper incentives.
The Quadrant Protocol and network is envisaged as the solution to this problem
The Quadrant Protocol
The Quadrant Protocol is envisaged as a blockchain-based network protocol that enables the access to, creation and distribution of data products and services with authenticity and provenance at its core. It is envisioned to act as a blueprint that provides an organised system for the utilisation of decentralised data.
Quadrant maps disparate data sources so that new, innovative data products can potentially be created to help companies meet their data needs.
This is intended to be made possible through the participation of the following stakeholders: •• Nurseries— the Atomic Data Producers (ADPs) that create the original data records. They create Stars (raw data), which can then be grouped into Constellations. •• Pioneers— the Data Vendors that create data products with the smart contracts on Quadrant. •• Elons— the visionaries that utilise the created data products and with them, build new and unique products and services. They rely on Constellations and Constellation blueprints to make sense of the data space, which they will travel through. •• Guardians— the master nodes that protect the integrity of the chain, ensuring that it is not compromised. The Guardians ensure that the Constellations created by the Pioneers are not compromised and provide the services of stamping, authenticating and verifying data
Features Quadrant is intended to have the following features that are aimed at helping to solve the problems in the data economy:
• Proof of Data Authenticity and Provenance
• Constellations for Disparate Data Sources
• Fair Remuneration and Incentive Sharing
Proof of Data Authenticity and Provenance The foundations of the data economy must be built on trust. Blockchain is the perfect candidate to facilitate this trust because it offers an immutable record of historical activity. Quadrant will require that all data is publicly stamped so that its origin will always be known. Any stakeholder can learn the provenance of a data feed at any time.
It cannot be overstated how important trust is to the data economy. Without it, the current problems will continue to persist. People will still transact data in a way that is opaque and fraught with risk. All the technology in the world will not be able to provide authentic data from disparate sources to the companies that need it.
To give an example of how data stamping works, consider a Pioneer creating a daily push of data to a Data Consumer. The Pioneer will hash the data of the day and push the DNA stamp of the data to
Quadrant. When the Data Consumer receives the data, it hashes it to verify that the data that has been received is the same as the data that was produced. If the data matches, the Data Consumer has proof of acquisition. If the data does not match, the two parties may contact each other to sort out the problem.
Client software will be provided to stamp and verify data. Updates can be tracked via GitHub.
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