Quadrant Protocol Creates A New World Of Value Added Data Products
The Good News
Quadrant Protocol is a data protocol that provides the framework for data authentication, verification, and exchange. The protocol will also feature a data linkage service that connects and finds commonality and value in data that was previously tagged as unrelated.
Why Is Data So Important?
Data is big business and businesses are on pace to spend over $131 billion on data this year. The reason this data is valuable is that there are over 6 million developers worldwide that are using data products.
The data market is growing at a rapid pace for two reasons. First, the amount of data collected on individuals has exploded and is predicted to reach 1.7 megabytes per second by 2020. Wal-Mart already collects 2.5 petabytes of data per hour just from customer transactions.
All of this data is leading the charge for businesses to become data-driven but less than 37% have claimed to be successful. At this point in time, the expanse of data is too chaotic and unorganized for normal businesses to convert to profit.
Quadrant Protocol Has The Solution
Quadrant Protocol is creating a framework that allows businesses to exchange data and AI services. The protocol creates the infrastructure for providing provable data authenticity and provenance.
The protocol will not be selling raw Data Consumers but will instead be focusing on providing data products consisting of massive numbers of data streams that are linked together and analyzed by data scientists and data analytics firms.
The linkages will provide ready to use data that will help data consumers and businesses that are currently failing at integrating a data-driven approach.
How Does Quadrant Protocol Do All This?
Quadrant Protocol explains their ecosystem in intergalactic terminology but I'll break it down into plain English.
The process starts as normal with Data Producers (Nurseries) producing data (stars). This data is stamped with a hash and DNA which contains metadata. This hash and DNA provide an immutable proof of origin and genesis to the purchaser of the data.
The raw data is taken by data vendors (Pioneers) that combine multiple raw data sources into groups of similar data (Constellations). An example of a data group might consist of data feeds from restaurant transactions or weather devices.
The final step in the process is when data scientists (Elons) get to work find links between different constellations, in turn creating Mega-Constellations that can be used by Data Consumers to solve real-world problems.
During each step of the process Quadrant Protocol will utilize a masternode (Guardian) system to verify the authenticity of the underlying data that is included in any refined or raw data product.
Who Benefits From Quadrant Protocol
The full list of stakeholders in the data ecosystem will benefit from Quadrant Protocol. By using Quadrant Protocol a dataset (Constellation) can be created from thousands of data providers (like IoT devices).
The Pioneers are going to organize all of this data into something useful for the Elons. The Elons are going to polish the data analytics and feed it to data consumers and businesses. The businesses are going to pay a fee in QUAD tokens to purchase the data products.
Quadrant Protocol's smart contracts are going to make the payments simple for data consumers and fair to all participants in the data ecosystem. For each purchase of a data product Quadrant Protocol's smart contracts will disperse QUAD tokens to all participants from Nurseries to Elons in the correct proportions automatically.
QUAD tokens will not only be used to purchased data products but will fuel transactions between each level of the protocol as well as be used in staking for Elons and Guardians.
Quadrant Protocol is also utilizing a second token known as eQuad which is ERC20 compliant and will be freely tradeable and can be converted into QUAD via a gateway when mainnet is launched.
For More Information
📅Token Sale Dates: June 26th, 2018
📈Token Ticker: eQuad
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Masternodes are where it's at. Any idea how many eQuad are required to run a masternode?
I asked in the Telegram channel and learned two things. The amount of eQuad to run a masternode has not been determined yet and the team calls masternodes Guardian Nodes but references them as Master Nodes (pg 26 of the whitepaper).