Data is changing the face of our world, we live in an information centred world and there is a growing need for authentic data which must be available where and when it is needed. Everyone wants to be able to trust the reports they are given, no one wants to be embarrassed by delivering inaccurate reports, the importance of data quality is undisputed. Organizations looks at adopting incoming technologies like artificial intelligence, automation and so on but their ability in doing so is greatly dependent on getting the issue of data management right. The issue of lack of authenticity of data is largely due to the fact that producers and distributors of this data are not given proper incentives, there is a huge disparity in the distribution of revenue for both producers and distributors of data. This pose a great problem to the provision of authentic data. To put an end to this problems plaguing this data economy, the quadrant protocol was created.
Quadrant and Data improvement
The Quadrant protocol is envisioned as a blockchain based network protocol that enables the accesss to, production and distribution of data products and services with authenticity and provenance at its core. It is conceived to provide a perfect system for the use of decentralized data. To solve the issue of authenticity the protocol would administer the use of data stamping for support and to show that a given data is authentic. With this consumers can now trust the authenticity of data given while data distributor and producers would get their deserved reward as their data is been used. To ensure transparency, semi annual reports would be made to the public on the usage and distribution programmes of eQuad in pool D which is the 10% given as incentives for partner and community development.
How Quadrant Protocol Functions
The Quadrant protocol would work with both centralized and decentralized systems. The protocol has a frame made up of Guardian Nodes, Data Anchor, Data Consumers, Data producers, and the Central Data Blockchain. Unlike other blockchain that uses proof of work or proof of stake alogarithm, the Quadrant protocol functions using Proof of Authority consensus alogarithm, which enable it to carry out more transactions at lower gas price, achieve faster transactions and prevent malicious nodes from entering data into thw network. For security purposes an external proof of workchain would be used as the backbone to ensure adequate security. In the meantime, ethereum would be used for anchoring but would be replaced if they need be by any public chain the future.
The Quadrant would make use of two different currencies on its network which are eQuad and QUAD. QUAD which isa utility token is built to be used solely on the network. It will be used to stamp data, support simple and complex access structures, simple and complex subscription payments, and for staking for Elons. eQuad on the other hand is an ERC-20-compliant token that will be sold during the token generation event (TGE). It may be converted into QUAD via a gateway when the Quadrant mainnet is launched.
The foundation of this data economy must be built on trust, blockchain would be the driving force to ensure that trust because it offers an inalterable record of historical activity. Quadrant would ensure that all data is publicly stamped so its origin would always be known bringing a solution to the issue of data authenticity.
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Author: wapfire
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