Quanta pretends to be first really fast Community-Driven Decentralized Exchange. It will provide fast, near Real-time Cryptocurrency Trading powered by highly scalable Byzatine Fault-Tolerant consensus in under one second block time.
Idea
Project’s Whitepaper provides a lot of QUANTA Pros, but most of them are well-known. What is significant – that QUANTA is about to eliminate both problems of centralized and decentralized exchanges.
As for Centralized exchange – there are:
- It runs fast but at a serious risk. Centralized exchanges store order books and customer balances in MySQL/Postgres databases, which makes them vulnerable to hack, tamper, data loss, and inside trading. Another major risk is that centralized exchanges holds customer funds like a bank and can misuse funds for risky investments and loans.
- Centralization exchange must operate with high operations overhead for their burdening problems of security, scalability and reliability. Many exchanges charge anywhere between $500K to $2m USD to get a token listed.
As for Decentralized Exchanges they are:
- Limited by the block time by the platform they are built on (ETH, NEO), which usually runs at 15+ seconds per ledger, equating to 15+ second trading latency. Due to limitation of block time, decentralized exchanges have not been competitive with centralized exchanges in terms of trading volume.
- Decentralized exchanges run on a smart contract on top of Ethereum, they face the same limitations Ethereum faces, namely scalability. Ethereum future upgrade not guarantee improvements for decentralized exchanges. The main reason is order-book must maintain >100million orders, which needs to be matched instantly. Ethereum can handle about 13 transactions per second. This is very limited for real-time trading use-case. The other challenge is that most blockchains are not linear scalable, as more machines are added to the network, throughput increases at a decaying rate.
- Low liquidity or shallow orderbook means high slippage when trading, which can cause expensive traders for professional traders and normal users alike. DEX specifically have problems with this due to long blocktime and scalability
QUANTA is ready to solve all the mentioned problems – as it is stated. It provides access to near real-time trading directly on our own QUANTA blockchain. This technology is based on combination of faster consensus (dual ledger with Byzantine Consensus, BFT), distributed memory pool, and fast commits (on a separate ledger) which accelerate the block-time to near sub-second transactions. By now it is proven to run in 1 sec (15X improvement over ETH blocktime).
QUANTA build its own platform in hope to make improvements into sub-second timing. All these will make QUANTA competitive to existing centralized exchanges in term of speed, and more secure.
QUANTA main benefits are based on the use of Byzantine Consensus (BFT). Stellar was the first to introduce the Byzantine Consensus (BFT) with good market success. Based on a modified “sharded” version of BFT used by Zilliqa, they broke the 2,000 transactions per second and closing in on Visa, with which 8,000 transactions per second. For cryptocurrency exchanges, the same blockchain sharding technique do not work when simultaneously sharding for both order book and account ledger. But QUANTA will. Its distributed memory pools and fast commits will enable to reach 500K orders per second, and over 5 million orders per second in the future.
QUANTA develop the technologies: Quanta Blockchain; Quanta Trust Wallet and QUANTA Token Platform.
Tokenomics
Ticker: QDEX
Type: Own wallet
Total tokens: 400 M QDEX
Hardcap: 60M QDEX
All vesting period for founding, advisors extend for 4 years, with 1 year cliff period.
Community tokens are initially locked and released at a rate spanning over 20 years for direct or indirect actions that increases trading activities generated on the QUANTA blockchain.
Private-sale starting June 1, 2018 (see Updates below).
Whitelisting for public sale begins June 1, 2018.
Public sale will begin August 1, 2018.
Token will be sold on a first come, first serve basis. The exact conversion rate for BTC/ETH will be announced 7 days prior the Public Sale.
Token Distribution
Funds Allocation
- 40% of the funds will be used to build the QUANTA platform and perform upgrades to the system, which includes team recruiting, training, and the development budget.
- 15% of the funds will be used to build strategic partnership.
- 25% will be used for QUANTA branding, marketing and legal, including continuous promotion and education of QUANTA and blockchain innovations in industry mediums. A sufficient budget for various advertisement activities, to help QUANTA become popular among investors, and to attract active users to the platform.
- 20% will be kept in reserve to cope with any emergency or unexpected situation that might come up.
Proposed Cases
QUANTA Blockchain propose to unlock possibilities in various segments. All of them are full of liquidity by the way.
Financial Market: Over $300bn market cap, and $10bn dollars daily trading volume, with 99% still on centralized exchanges.
Online Gaming: Over $100bn dollars market. Paid/rewarded In-game purchases can be traded instantly &exchanged to fiat.
E-Commerce: Global market of over $1.9 Trillion dollar market where loyalty points, and store credit scan be instantly be exchanged.
Sport Betting: Over $70bn dollars in sport betting market. Instant access to real-time odds, and lines on sporting events.
Partners & Institutional Investors
There were no partners or big investors announced in Whitepaper or on the site. But just now while providing road tour between San Jose, San Francisco, Beijing, and Shanghai, the team mentioning some strategic partners. They are: Innospring Seed (Palo Alto, US), UniValues Associates (Shanghai), Galaxy Foundation (Australia), and GW Ventures (Japan).
Roadmap
Optimistic roadmap described in Whitepaper is as follows:
July 2018 – Integration to blockchain + Launch Beta testing
September 2018 – Launch Trading Exchange for everyone
October 2018 – Launch Mobile App & API, Add more tokens on the exchange
Q1 2019 – Launch public network
Q2 2019 – Sharded BFT Consensus
Q3 2019 – Smart contract & ICO Platform
Updates and Timeline
QUANTA is not just making one exchange, but giving access to our technology, and help others adopt our fast, scalable on-chain order matching. Given the new focus, we have decided to extend the private sale period, and start our pre-sale on Sept 15, with public crowd-sale TBD. Secondly, we will launch our Beta December 2018 and public in Q1 2018.
Team & Advisors
The team has experience with building distributed database (such as Cassandra and Dynomite), operating systems with billions of requests per day, and petabytes of data on large systems like Google, eBay, Paypal, and Netflix. Over the past year, the team developed proof of concept and produced research designs to specifically address the speed and scalability challenge of an on-chain digital asset exchange blockchain.
Team lead is Quoc Le – Co-founder/Managing Director. He has been a cryptocurrency enthusiast since early 2017, when he started building his custom GPU mining rigs and traded in several exchanges. Frustrated with the state of cryptocurrency exchange, he formed a team of ex-Netflix, Google, AI, and Security engineers to re-think about the decentralized exchange for the future
Marketing provide Afonso Barbosa – Co-founder/Director of Marketing & Operations Mr. Barbosa has over 20 years of experience in product design, research and team and project management. He holds a degree in Computer Science & Math from University of Minho, Portugal.
Science: Minh Do – Chief Scientist Mr. Do has over 20 years of experience in building large platforms. He is currently at Netflix Cloud Infrastructure, and Big Data Team. He contributes to Cassandra, a distributed database built by Facebook, improved at Netflix, which shares common consensus algorithm used in blockchain. Mr. Do is the inventor of Dynamite: Distributed In-Memory Database , which handles more than 2M transactions per second.
One person is with Russian roots – Sergey Zhuravlev – Wallet & Security Engineer. But he is American.
Board of advisor is very impressive – all of them are with perfect background.
Conclusions
QUANTA is trying to eliminate2 unsolved problems of centralized exchanges. First – risky activities. And second, connected with the first – is expensive listing. All proposed technologies look real and proved, including: On-chain Order-book, Dual Ledger Byzantine Fault Tolerant Consensus, Security Model and Consensus / Settlement Time. The last mentioned – promises 15X improvement over ETH-based exchanges – this means that QUANTA Exchange will be competitive to existing centralized exchanges and more secure. And with cheap listing by the way! The Team and the Board of Advisors are OK – experienced, well-known as professional and trustworthy.
Token distribution is equitable: team – 20% (high qualification specialists), community – 40%, private sale (this may apply towards big investors) – 15%.
Funds allocation says that the team is optimistic about the project.
The doubts appeared after the shift of Beta on half a year and pre-sale to Sept 15. But from the other side – it may be connected with the Team responsibility towards community.
On the project favor are the list of partners appeared after the Roadshow and 250K users of the chain.
Coinstelegram Rating: Pre High
