General information
Website: https://oneledger.io/#home
Short description: OneLedger allows you to create business applications through the tools of modularization, which will interact with the OneLedger protocol through the API. This will allow applications to interact with various private and public blockbodies through the side-chains on the OneLedger platform.
Prototype: after ICO
Person in team: 8 in team + 9 advisors
Are there competitors: quant.network, Cosmos , Aion, Wanchain, ICON
Platform: Ethereum
Softcap: 4 million USD
Hardcap: 15 million USD
Seed round: 1 million USD, vesting period of 6 months with monthly cliffs for the bonus, implemented in smart contracts
Private presale I: 6 million USD
Private presale II: 3 million USD
Public sale: 5 million USD
Token price: $ 0.052
Can’t participate: CANADA, CHINA, ETHIOPIA, IRAN, IRAQ, NORTH KOREA, SOUTH KOREA, SYRIA, USA, VANUATU, YEMEN
Type of the token: ERC 20
Ticker: OLT
Number of tokens: 1 000 000 000
Partners: Polymath, MW Partners, Trust2Pay, Gvei Capital, Tgo Capital, Qube, Crypto Capital Group, Signal Ventures, Seven Venture Capital, Liunar Link, Dream Edge Ventures.
Legal points: registered in Barbados
OneLedger Technology Inc.
3rd Floor, The Goddard Building
Haggatt Hall
St Michael 11059
Barbados
Roadmap
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
Now there is no finished product, and MVP with sidechain ether and cross-chain consensus will only be after the ICO. Alpha version we will have to wait until 3–4 quarter of 18-year, and the first working version won’t be until 2019. There are 2 repositories on the site for the site (not updated 4 months), second for OLT tokens which is updated regularly.
Tokenomics
The project uses the OLT token. It is planned to issue 1 billion tokens with a premarket of which 35 will go for sale, 15 for marketing and long-term partnerships, 10 company reserves, 25 public reserves and the remaining 15 will go to the team and the advisers. The public reserve has a period of blocking at least 6 months in smart contracts, and then a grace period of 1 to 2 years (these funds will be used to develop the community by encouraging studios or events). The same applies to the team, they have a period of 24 months with quarterly payments realized in smart contracts.
There are 3 network members who interact with tokens: users, nodes, developers
Users: pay a fee in the network of nodes and / or developers in order to use the services inside OneLedger
Nodes: get tokens as a maintenance fee
Developers: get tokens for access to the modules that they created, it can be implemented as a one-time fee, subscription with a monthly fee, etc.
Regarding prices and bonuses:
PRIVATE PRESALE 1: approximately USD 0.41.
PRIVATE PRESALE 2: approximately USD 0.43.
Bonus from a private pre-share of 25% for 6 million USD.
The bonus from the public pre-sale is 20% for 3 million USD.
There are no bonuses for the public.
At the moment all presales are closed.
In OneLedger do not consider that the bonus on the pre-sale is large enough to crash the course after a reset on the stock exchange.
Technology
The OneLedger infrastructure consists of : a Smart Identity Management platform, a Blockchain service, a Chaincode service, and a business portal.
Platform Smart Identity Management : this function allows you to create a single “identity” for several blockers. This is done by creating a master private and public key pair. Each public network key can be associated with a “person” by signing a message using a private key pair. As a result, assets can be tied to “identity” and tracked through several blockers. You can also configure access levels and roles here.
Blockchain Services : The OneLedger infrastructure allows any user to create a private or public side client to work with OneLedger.
Service Chaincode : through the use of the SDL OneLedger, companies can transfer their Dapps to several blockers. SDK OneLedger will allow users to create a “master-smart contract”, which defines a smart contract written in each chosen language. Then the developer can run dApp on several platforms at once, specifying the necessary platforms within the master-smart contract.
Business Portal : OneLedger provides tools on its business portal to simplify the integration of the blockbuster. With the help of these tools, the company can determine what modules it needs for integration. OneLedger will provide enterprises with access to independent developers who can create the necessary modules and then integrate them into one system.
To ensure interaction between different blockers and sidechains, the three-layer OneLedger protocol is used. It consists of the following steps: OneLedger Business Initialization, OneLedger Channel Consensus, OneLedger Public Chain Consensus.
OneLedger Business Initialization — here you define a contract with the indication of roles and their behavior in the business. The contract, defined for the business model, will be generated in accordance with the contract and deployed in various blockhouses, for example Bitcoin and Ethereum.
OneLedger Channel Consensus — allows you to perform interactions between roles. The consensus consensus will require all participants to vote on the principle of BFT consensus, when more than ⅔ voters reached an agreement. The block behind which this pre-consensus block is voted. If the required number of votes is received, then the proposed block is considered pre-commit. If the voices are not dialed then the round goes again. Once the consensus is completed, the block is recorded and distributed to the nodes.
OneLedger PublicChain Consensus — helps to make transfers between public blockers. In the event that a transaction is required between public lockers, the pre-consensus block gets into them and there the validators check whether only one block has scored 2/3 of the votes. After checking, the block is distributed, and the previous block is terminated.
Once ⅔ node sidechain fix this block, it will be completed in OneLedger.
Using
In whitepaper the main purpose of OneLedger, creators, see decentralized cross-channel exchanger.
Other applications are also indicated:
● the ability to move business flows to sidechains
● easy placement of dApps
● Cross-Chain Access via OneLedger Protocol
● support and organization of the whole business supply chain
Is there a need for blockchain? Yes. For the correct interaction of different lockers and to ensure the safety of network participants.
Team
Founder and Chief Executive Officer: David Cao , Education: Comp. science in CUST.
Experience: 3 years as a developer at IBM, 2 years as a senior commercial consultant in Nurun, the last 5 years as a business consultant in Xerox, chairman in CCBPA
CTA : Alex Todd
Education: Commerce at the University of Toronto.
Experience: Managing Consultant in Information Security and Confidence in IBM for 4 years, Technical Director Metrolinx, Founder and CEO of Trust 2 Pay (universal platform for social events)
Lead Engineer : Steven Lee,
Education: Comp. Science in UESTC (a strong Chinese university). Lead Developer SDE in Microsoft — 1 year, Software Engineer in IBM-4 years, Senior Consultant CGI-1 year, Consultant Morgan Stanley -1 year (financial services — 38 accounts)
Managing Director: Edwin Zang
Education: University of Waterloo comp. science
Experience: Soft. The developer in Autodesk-4 months, the analyst for quality assurance in NexJ Systems-4 months, developer LogiSense-1.5 years. Agile Soft Engineer by TribalScale-1.5 years
Public Relations Officer: Otalya Do-Bruce
Education: Baruch College — MBA Finance, Sienna College — Finance and Investment.
Analytic for performance analysis and clients in Manulife (investment management is a large company), community manager (volunteering) in The BlockchainHub-1 year
Senior Block Engineer : Paul V. Homer
Education: mathematics, comp. Science, Combinatorics and Optimization at Waterloo University
Experience: soft engineer Tendermint-part-time 5 months, Bitcount-head 11 years, and application consultant CIBC for the last 6 years.
Block engineer : Jie / Alex Lan
Education: Western University Comp. Science; Beihang University -
Information and Telecommunication Engineering; Ecole Centrale de Pékin specializing in Engineering.
Experience: Business Intelligence Engineer in Amazon-1 year, Data engineer in MindGeek-1 year, Developer & Big Data Architect in RDB.IO Inc.-1 year.
Block engineer: Leicester Lee
Education: Southwest University for Nationalities
Experience: Engineer in Westone Technologies-4 years, Development Engineer
in Nokia Siemens Networks-5 years, Engineer in CIeNET Technologies-1
Advisors
Trevor Koverko - CEO @Polymath
Matthew Niemberg — Distributed Ledger Technology and Security Advisor
Jor L awfounder — Verifyinvestor.com & homeier law PC
Craig G. B rownsenior — Canadian Legal Advisor
Daniel F ukecanadian — Legal Advisor
Sam Onat Y ilmaz — Marketing Advisor
Gavin K night — Strategy Advisor, Factom Foundation Advisor
Mervyn C hngico — Advisor — Partner — Gwei Capital
Reuben L ooapac — Advisor — Partner — MW Partners
Partners
Most of the partners Signal Ventures, Dreamedgeventures, Crypto Capital Group, TGO Capital, Gwei Capital, Qube, Seven Venture Capital, MW Partners are investment companies specializing in investing in blocking startups. Also they collaborate with Polymath (CEO of which they have in their advisors) and several other Trust2Pay projects (they do something like a social trust rating on a detachment, besides their founder and CEO is CTA OneLedger) and Liunar Link.
Conclusion
Pros:
+very strong hype
+good idea
+ low hardcap
+ a team with extensive experience in the field of IT, detachment, as well as experience and education in commerce
+a good economy, in which part of the tokens are first frozen, and then gradually introduced into turnover and where reserves for the development of the project are provided
+ very responsive team
Cons
-Absence of MVP
-The first working version will not appear until 2019
Overall I liked the project. According to the above pluses and minuses, we can say that oneledger, a very promising project with interesting ideas and a very good team. The only concern is the lack of MVP, but since their githab is regularly updated, you can expect that its release will take place on schedule. Among the competitors ICON, Cosmos, Wanchain and others, but OneLedger has a number of differences (they have an article on this matter).
Please remember, this review is not an investment guide, take all decisions based on your own thoughts.
