OneLedger - the One Step to launch dApps cross-chain
Hello everybody, I am back with another ICO review, this time I am reviewing OneLedger.
Disclaimer: this is not financial advice.
OneLedger is meant to be an interoperable blockchain, focused on corporate applications., with a master smart contract written in all major languages to be able to function cross-chain, i.e. use One Ledger to use all of the ledgers :-) Unlike other crosschain platforms (Polkadot, Cosmos, Block Collider etc.), OneLedger seems to be focused on corporate clients, which can access the benefits of blockchain more easily.
The main aspects of OneLedger’s tech are the following:
- Cross-ledger, blockchain agnostic protocol, based on sidechains - transactions are credited off the main chain to enable scalability.
- Practical Byzantine Fault Tolerant consensus - validators vote on transactions, 2/3rds of votes on the sidechain broadcast the result to the main chain (consensus is not reached if over 1/3 of nodes are malicious)
- Business friendly: SDK to allow dApps, with programming interface based on a REST API, tools that will enable corporates ease of use
- Public and private chains: OneLedger can support both permissionless and permissioned (consortium) blockchains
- Public key authentication - for instance, credit scores attached to an address.
- 9 people overall, a mix of experiences
- David Sao - CEO, worked at IBM and Xerox
- Alex Todd - CTA with major IMB experience
- allstart advisor Trevor Koverko (CEO Polymath)
*Q2 2018: testnet, MVP with cross-chain consensus
*Q3-Q4 2018: complete cross exchange protocol, API, Alpha
ERC20 tokens will be ultimately swapped for native OLT tokens, which will be used for paying for OneLedger services. OLT stakes will receive OLT tokens as the network fee. The utility is similar like for most blockchains.
The higher the demand for OneLedger services, the higher value in OLT tokens. Token utility seems to check out. More about OneLedger ecosystem in the picture below, taken from their whitepaper.
(Disclaimer - this image is not my work and is taken from OneLedger WP )
Summary and Further resources
It seems like OneLedger can differentiate from the other cross blockchain solutions pretty well. Let’s keep definitely an eye on this one.