Introducing The New Way To Map Decentralized Data

Do you know the top 5 most valuable firms in the world? They are Amazon, Apple, Alphabet (the parent company of Google), Facebook and Microsoft. The net profit made by only these companies was close to 25 billion USD in 2017. Only these giant companies control the vast amount of the user’s personal data all over the world. And, the small companies/businesses are not able to collect high quality and authentic data as easily as these big companies. Instead, they need to spend a lot of money to collect data for growing their business. However, they are not able to get the relevant data even after spending a lot of money for getting the same.

Another drawback in the existing data economy is that the original data producers are not getting the fair compensation for sharing their valuable data. It is also a reason for the poor quality of the data. Because they are not rewarded for their valuable contribution, the data producers(consumers) are not willing to provide meaningful and original data. Instead, they are providing only fake data which is not of any use to the advertisers or businesses.

Image

How to overcome this hindrance and to improve the quality of the data sharing process? Quadrant protocol aims to solve this problem by providing a blockchain based solution. What is Quadrant? Basically, it is a platform based on the blockchain technology that allows the creation and distribution of data related products and services. Quadrant is designed to work with both centralized and decentralized services. As the protocol utilizes the concept of proof of authority, it can handle a number of transactions in a short interval of time thus helping to achieve faster transactions.

Quadrant protocol consists of the following stakeholders:

Nurseries – They are the original data producers/consumers who are responsible for the creation of the data.

Pioneers – They belong to the category of users who utilize the smart contracts to create the data products

Constellations – These are the smart contracts that will be mapping the various data sources into a single one.

Elons – They build new products and services by utilizing the created data products

Guardians – These are the master nodes that will protect the integrity of the blockchain network.

Read https://www.quadrantprotocol.com/whitepaper.pdf to learn more information about the platform.

The main objective of Quadrant is to make sure that the data producers are always getting the right compensation for their valuable data. Likewise, the data buyers should also get a guarantee that the data they receive is of original and high quality so that their money doesn’t go in vain. For that, the Quadrant protocol will utilize two types of tokens based on cryptocurrency named QUAD and eQuad. QUAD is a non-refundable utility token that will be used as the primary payment option for all the transactions in the Quadrant platform. eQuad is an ERC20 complaint utility token which can be sold or converted to QUAD token. The QUAD token is like the backbone of this platform as any transaction cannot be completed without using that. For more information about the tokens, please visit Website, Telegram, ANN, Bounty Thread