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$1.22
Market Cap $ 11.908 MM (#184)
24h Volume $ 675.689 K
Chg. 24h: -9.47%
Algo. score 2.7/5  (#829)
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Quant project purpose and description

Quant clarity of purpose

Quant purpose and aspects

Overledger is a new blockchain operatingsystem that intends to solve the problem of single-ledger dependency by increasing the communicability among DLTs to allow general purpose applications to run on the top of different blockchains. Overledger abstracts single-ledger dependency technology toovercome the bound of different architectures regardless of addresses, ledger implementation and consensus mechanisms. Rather than defining a specific platform with multiple connectors accommodating the plugin of the compliant DLTs, our solution introduces a vendor-independent wire-level protocol for message-oriented middleware. By decoupling the Transaction Layerwith a shared Messaging Layer, Overledger provides a unique solution to interoperability for digital ledger environments. Overledger also allowsthe business logic to decouple from the underlying ledger. It increases the communicability among chains with the privacy constraints that decentralized applications demand.

Quant additional differentiation against competition

One of the challenges with digital ledgers is that they exist in silos. Different structures and working mechanisms make it harder to build a common interface. Overledger addresses this issue sitting on the top of them rather than struggling to match them up. Sometimes you may have different rights on different ledgers. Overledger’s vision is to build a unique group of transactions that are put together and then ordered by the distributed applications. The analysis of the projects in Table 1 on DLT inter-communication and interoperability allows us to extract the connection methods adopted in those cases.

Short description

Overledger is the blockchain Operating System (OS) for the future. It empowers applications to function across multiple blockchains. Overledger securely removes the barriers that prohibit communication across multiple blockchains, providing endless possibilities for your data and applications.

Abstract

The traditional Internet architecture has not yet achieved its vision of an open, trusted and secure network. The technology of distributed ledger technologies (DLT) and their broad range of applications across finance, healthcare, supply-chain and many other sectors is an opportunity for the Internet to adapt and honour what was originally envisaged and reach its potential as a decentralized network of networks. While providing a broad range of benefits, the fast-paced environment of DLTs lack seamless intercommunicability internally among ledgers and externally with existing networks. This limitation forces distributed applications to be single-ledger-dependent, i.e. limited to be only executed on a single ledger. From a technology perspective, the fact that distributed or decentralized applications are single ledgerdependent, makes it difficult to choose the appropriate DLT that is fit for purpose and meets technical and business requirements when considering DLTs for decentralized applications. This technical dependency slows down mass-adoption, it limits scope, it impedes scalability of new features and it reduces the necessary controls required for data security and privacy. From a business perspective, a single-ledger DLT application increases the amount of risk, complexity and effort to adopt multiple DLT technologies, in many cases duplicating resources and investment to use multiple chains. Enterprises are forced to accept financial risk due to a monopolistic approach to DLT fees by limiting options to manage fees and transaction costs. All the challenges listed limit the widespread adoption and critical mass of users. This paper proposes a solution to the problem of single-ledger dependency, by introducing a new technology for the design, deployment and execution of multi-ledger decentralized applications. This technology is called Overledger.

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