OneLedger ICO review
A Universal Blockchain Protocol Enabling Cross-ledger Access
through Business Modularization
Summary
- Project name: OneLedger
- Token symbol:
OLT
- Website: https://oneledger.io
- White paper: https://oneledger.io/wp-content/uploads/2018/06/oneledger-whitepaper-06.01.18.pdf
- Official Telegram Group Chat : @oneledger
- Official Telegram Announcements Channel : @oneledger_official
- Official Chinese Telegram Channel : @oneledgercn
- Twitter : https://twitter.com/OneLedgerTech
- Medium : https://medium.com/@OneLedger
- Reddit : https://www.reddit.com/r/OneLedger/
- Github: https://github.com/Oneledger/
- Token supply: 1 billion OLT
- Hard cap is 15 million USD (9 million of the 15 million
hardcap was sold in presale. 1 million was sold to early seed investors. 5
million is for public sale).
- Conversion rate: 1 OLT = $0.052
- Token’s Utility: OLT is the basic utility token on the
platform for transaction, deployment fees and service access fees
- Bonus structure: The private presale bonus was 25%
bonus for $6 million USD. The public presale bonus was 20% for $3 million
USD. In summary, the bonus for private/public presale is between 20%-25%.
- KYC Restarting on May 19 (KYC ended)
- ERC20 token: Yes
- Сan't participate:U.S / Canada / China / South Korean /
Barbados & other FATF countries like Ethiopia, Iran, Iraq, North
Korea, Serbia, Sri Lanka, Syria, Trinidad and Tobago,Tunisia, Vanuatu,
Yemen
- Min/Max Personal Cap: Min Personal Cap 0.1 eth and max
Personal Cap to be announced by 10th June EST
- Timeline:
Estimated mid of June start (please refer to Official Telegram
Announcements Channel : @oneledger_official for all up-to-date details)
- Token Issue: Tokens will be received immediately from
crowdsale, but might unlock only upon centralized exchanges
1. Overview
of OneLedger:
An Interoperable Blockchain Protocol Built for Business
OneLedger is a cross-ledger agnostic protocol that enables
high-performance scaling using a sharded and modified practical Byzantine Fault
Tolerant consensus scheme -- which allows for either a permissionless or
permissioned setting. By coupling public key infrastructure (PKI) with identity
management, nodes (and node operators) will have a defined trust hierarchy that
allows them to participate in the consensus of the OneLedger chain or any
sidechain. OneLedger sidechains can be synchronized with the current state of
other networks (Ethereum, Bitcoin, etc.). Any cryptocurrency that supports
hashed time lock contracts (HTLC) and payment channels could be deposited into
an account or address with the amount credited onto the OneLedger sidechain.
2. OneLedger
Highlights:
OneLedger is a cross-ledger agnostic protocol that enables
high-performance scaling using a sharded and modified practical Byzantine Fault
Tolerant consensus scheme. The OneLedger architecture relies on two core
principles: Side chains and business modularization. OneLedger defines a
three-layer consensus protocol to enable more effective integration of
different blockchain applications.
OneLedger Architecture - This decentralized
framework changes the basis upon how applications are built by ultimately
unifying and realizing the real world into its blockchain parallel. All this
will be achieved through: 1) OneLedger Business Center - tools within the business portal, enabling users with any level of blockchain experience to map their business module onto the blockchain, generate chain-code through developer-defined modules, and tag the process throughout the flow.
2) OneLedger Consensus Protocol - Business Logic will
use a configurable role-based consensus methodology leveraging hierarchical
grouping similar to the Merkle Tree. The role will be determined by business
participants. Each role is linked to an independent node that participates in
consensus; business logic will then determine how each role is fed into node
data. The role consensus is subject to second level verification. Through their
defined key and digital signature, Users can be correctly linked to their role
in the business. This enables transparency and traceability, allowing
identification of the user who had written data onto the Blockchain, and their
respective role.
3) OneLedger Public Chain Consensus - OneLedger
Sidechain Consensus helps initiate transfers between public chains. When a
transfer between public chains is requested, the pre-consensus step is
conducted in the OneLedger Sidechain, and a pre-consensus block (the N9 block
in the previous diagram) will drive a proposal to the public chain.
4) Sidechain Consensus Algorithm - The Sidechain
Consensus algorithm consists of two phases. The first phase is a “Round Based
PreConsensus” to get a Consensus Proposal that more than 2/3 of the node in the
scope has agreed with. In the second phase, the Pre-Consensus block will
drive to the public chain if the proposal is a cross public chain. In this
case, each node will validate that exactly one committed Pre-Consensus Proposal
is signed by more than 2/3 of the nodes in the scope. Once validated, the block
is broadcasted and the previous block is finalized.
3.Team:
Team of 9 with 10 advisors (19
total), I like the team. They have experience in well-known companies such as:
IBM, Nokia, Amazon, Xerox and etc.
- David
Cao Founder & CEO: Founder and CEO of OneLedger. With over 3 years of
blockchain experience and over 10 years of enterprise architect
experience, worked on a magnitude of technical projects for several
Fortune 500 enterprises, also worked at IBM Toronto Lab on the development
of DB2 and WebSphere Commerce core engine. As a specialist in supply
chain, payments, e-commerce, and as an experienced J2EE enterprise
architect, has helped large enterprises grow exponentially, including Home
Depot, Sears, and Toshiba. David is an active member in both the
Hyperledger and blockchain community.
- Alex Todd: Alex is a pioneer in
the fintech and entrepreneurial space. He is the Founder and CEO of Trust
2 Pay, and former CTO of PRESTO where he led the creation of innovative
industry engagement programs in support of the 10-year business model
roadmap contributing to an estimated value of $200M+ over five years. Alex
has spent his career exploring business opportunities in the emerging and
disruptive technologies space, and is currently launching a social
enterprise that uses blockchain technology to help 5 billion working-age
people prosper by making financial resources more accessible.
- Stephen Li Lead Engineer:
Stephen is a senior software developer and a subject-matter expert in
distributed application innovation. He is a former senior consultant for
Morgan Stanley and Deutsche Bank. He also worked in IBM and Microsoft.
Stephen has a deep understanding of both frontend and backend systems
through development and architecture, and has an interest in the
application of high-performance computing. He is also embracing the
blockchain revolution and has become an expert in Solidity smart contract
development on Ethereum.
- Edwin Zhang Managing Director:
Edwin is a veteran in the blockchain startup and investment space. He is a
former Software Engineering Lead spearheading blockchain-related R&D
for TribalScale – an innovation firm specializing in emerging
technologies. Edwin has a vast technical background as both a blockchain
developer, with Solidity and Ethereum smart contract development
experience, and software developer. He brings to the table extensive
investment experience backed by a technical foundation, and a wide global
reach within the cryptocurrency community.Engineers Highlights(2 people):
Working experinece as devs at Nokia-5y, Business Itelligence Engineer at
Amazon-1y, Data Engineer at MindGeek(big internet company).
- Angela
Cao Community Manager: A dedicated and reliable individual with
professional and academic experience in media research, economies
assessment and statistical analysis complemented by the University of
Toronto education. Currently pressuring the master’s degree in User
Experience Design and Information Systems and Design in the Faculty of
Information at the University of Toronto.
- Paul W. Homer Senior Blockchain
Engineer: Paul has spent the last 25 years designing and building
commercial and enterprise software for companies both large and small. His
experience includes startups, the financial industry and healthcare. Last
year he worked on adding historic support to Tendermint. He has been
following blockchain progress for years and has an interest in Byzantine
Fault tolerance as it relates to his past experiences with building
distributed systems. He’s been writing and exploring software development
issues for over a decade, both in his own blog and as contributions to the
97 Things series.
- Alex Lan Blockchain Engineer /
Researcher: Alex is a data science expert. He holds a master’s degree in
Computer Science with an emphasis on machine learning and big data application.
Alex is a former Business Intelligence Engineer at Amazon, and is
currently a Data Engineer at an industry-leading innovations company with
a breadth of big data resources. Alex became exceptionally passionate
about Blockchain technology after he realized that it can potentially
disrupt every industry. He has gained extensive experience in blockchain
protocol and consensus algorithm development.
- Lester Li Blockchain Engineer:
Lester Li is a Full Stack Engineer who has been involved in the technology
space for more than 10 years. Early in his career, he developed security
network layers and managed end-to-end encryption mechanisms. He then
ventured into telecom networks building high-performance customized
product systems. He is a former Nokia senior engineer where he
participated in information security, cloud computing and other innovative
projects. He is also an open source community contributor and blockchain
enthusiast. He has gained extensive experience in Ethereum JSON-RPC
interface and smart contract development.
- Enrico Baculinao: Full-stack Engineer.
4. Advisors
Highlights:
- Trevor Koverko: CEO at Polymath, CEO at Digital Asset
International
- Matthew Niemerg: Center of Excellence Postdoctoral
Fellow in High Performance Computing at IBM-2y
- Jor Law: Strong law experience. Founder of Verify
Investor(Acquired by tZero)Associate at Shearman&Sterling(Law
Practice)-2y, Director at Network Optix(Law Practice)-5y, Director Network
Optix(Information Tech. And Services).
- Sam Onat Yilmaz: VP of Product Development at Engine
- Reuben Loo: Blockchain community manager at Quantstamp,
Zilliqa and URTRUST
- Gavin
Knight Strategic Advisor, Factom Foundation Advisor
- Mervyn
Chng ICO Advisor - Partner - Gwei Capital
- Mirza
Uddin Strategic Advisor - Venture Capitalist
- Mervyn
Chng ICO Advisor - Partner - Gwei Capital
5. Partners
& Investors:
- Polymath
- MW Partners
- Wachsman PR
- Trust 2 pay
- Gwei Capital
- TGO Capital
- QUBE
- CRYPTO Capital Group
- Signal Ventures
- Seven Venture Capital
- LIUNAR Link
- Dreamedge Ventures
- Blockground Capital
6. Hype (03.06.2018):
- Twitter: 4442
- Telegram: 25183 members
- Experts Opinions: Ian Balina: Liked; Lendex: 83;
DiddyCarter: A-; ICO Drops: Medium; TheGobOne: 92%; Coin Bloq: Bullish;
Sergio: 81%; Crypto Briefing: 68%; Midgard Research; 6.5 out of 10; OhHeyMatty:
87; Hacked: 7 out of 10; Mandy: 6; ICO Pantera: A; CrushCrypto: Good /
Neutral or Neutral / Good and other famous influencers have recently
expressed their excitement about the project.
7.
OneLedger’s roadmap is as follows:
·
Q3–Q4 2017: Final whitepaper,
Theoretical Proof of Concept
·
Q1-Q2 2018: Launch Ethereum
sidechain testnet, Synchronize Ethereum sidechain with OneLedger protocol
engine, Implement and optimize cross-chain consensus, Add more public chain
support, Launch MVP with crosschain consensus
·
Q3-Q4 2018: Enable Bitcoin sidechain
to allow for cross-chain support, Complete decentralized cross-chain exchange
protocol, Complete implementation of modularization tools and compilers,
Implement OneLedger's Identity Management System and Smart Contract
Authorization System, Launch API gateway, Launch Alpha version of the OneLedger
platform
·
2019+: Release first version of the
OneLedger platform, Integrate with more blockchain protocols, Expand business
network.
8. Conclude:
- Great idea and solution for key blockchain problems
- Great team and advisors
- Great Partners & Investors with a lot successful
projects
- Low hard cap
- Positive sentiment in the crypto world despite it’s a
new project
- MVP released in June
Overall, I am very excited about OneLedger. I see a well-thought and anticipated solution for key blockchain problems. I believe the low cap, great idea and good team and advisors will bring a lot of attention to this project in the near future and this project will be successful.
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