Oneledger - cross-ledger protocol for business

Intro

The principle of cross chain transactions is simple and does not differ from the postal transfer - a certain amount is "locked" at the address of one cell, after which the equivalent opens on the unlocked address of another cell. The main feature of OneLedger is not in its cross chain feature, but in positioning as a product for business integration.
Any company / organization can turn to OneLedger and with their help create an application that connects to OneLedger protocol and through it can interact with private or public blockchain such as Bitcoin, Ethereum, HyperLedger, etc.

How does it work?

Here the project offers many new (or at least newly-designed) solutions:

• the system of sidechains, synchronized with external chains of bitcoin, ether, etc. and allowing to establish permanent "payment channels";
• It is possible to adjust the consensus conditions in these channels based on the structure of the "business roles". Thus, a multi-level consensus is organized - first in the channel, then in the side-chains. The role of validators is performed by the entire network, proof-of-stake is not yet provided, but there are plans to implement;
• cross-chain transactions are simpler and more flexible (the locking of the funds is done using the protocol hashed time lock and allow to synchronize (apparently) in principle with any chain;
• added a few more "chips" for corporate users - management of access rights, cross-compilation of smart contracts, etc.

In this sense, although OneLedger is essentially a "blockchain" (and in the future it involves exchanging ether tokens for sale on its own), its marketing strategy defines it as a category of "business services".

OneLedger gives the opportunity to use for business various platform applications, thanks to which the entire development process will take much less time:

• creation of digital payment systems;
• creation of credit systems;
• introduction of arbitration;
• launching dApps applications;
• Creation of cross chain decisions and introduction of consensus;
• using AI technologies.

OneLedger developers confidently declare that their platform will become a universal protocol and a cross-decision between public and private blockers and the already existing business.

Business model

For stable operation of OneLedger, an OLT token will be created with the ERC-20 standard. All payments within the system will be carried out with the help of OLT, in addition, this token will stimulate the owners of network nodes to maintain and develop the platform.

The OneLedger system will have three main ecosystem participants:

• Users. They will make contributions for gaining access to various parts of the platform, and services that will be presented on the domestic market.
• Developers. OLT tokens will be used as a means of payment, getting their developers will use them to create new modules within the system. At the moment, the creators expect to allocate 25% of the project profit for the development of OneLedger.
  -Network nodes (nodes). Owners of nodes will receive OLT tokens for maintaining the stable work of the block.

The economics of the OLT token provides, in the final analysis, payment by users and developers of solutions on the protocol of the services of validators (who don't need to hold tokens for launching the node). In addition, these categories (in particular, users and validators) can also coincide, which makes the external liquidity of the token necessary only for entering and exiting the network. Potential holders of tokens are users, and at this stage - strategic funds that will be deposited on the planned presale and will hold until the swap, or at least sell after the launch of the product (the alpha version is planned for late 2018). The source of constant intense ("miner") demand is not visible, so the price will have to sink.

Classification and competitors

There are a lot of business applications on the market, some of them offer a "thin" smart contracting solutions based on ether and designed for immediate implementation in the field, for example, supply management (ShipChain, BlockArray, OriginTrail, EximChain), other (CyberMiles, SophiaTX, Unibright) include proprietary protocols and multiple interfaces for integrated enterprise management. The first in the long term give rise to the problem of the further integration - and here OneLedger type projects, customizable and easily connected to external chains, look good "second step" for the introduction of blockchain to medium-sized businesses. The alternative - one-stage large investments in a large block system - is suitable for a large business that already has traditional resource management systems. Here, interfaces to existing systems are highly desirable; SophiaTX and Unibright have them, OneLedger - apparently not, which puts him at a disadvantage in this segment.

As for the reaction of the market, it does not favor "thin" solutions (ShipChain BlockArray and quickly resold at a price slightly above ico and now continue to fall), preferring to (somehow) independent products for large corporations. SophiaTX - project is very ambitious and promising integration with leading systems management.

OriginTrail - a network protocol for storing and processing data on top of block libraries, also intended for business integration - is somewhere between the two categories described. It appears to be the closest analogue to OneLedger, but giving due credit to the block-architecture, for comparison we also consider SophiaTX. On the nearest ICO, the direct competitor is Unibright.

Website: ​https://oneledger.io
Whitepaper: https://oneledger.io/wp-content/uploads/2018/04/oneledger-whitepaper.pdf
Blog: https://medium.com/@OneLedger
Telegram: https://t.me/oneledger
Github: https://github.com/Oneledger/

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