OneLedger ICO Review – Blockchain Protocol For Cross-ledger Access - Crush Crypto

OneLedger ICO Review – Blockchain Protocol For Cross-ledger Access

Summary

  • Project name: OneLedger
  • Token symbol: OLT
  • Website: https://oneledger.io
  • White paper: https://oneledger.io/wp-content/uploads/2018/04/oneledger-whitepaper.pdf
  • Hard cap: $15 Million total, with $5 million available for the public crowdsale (Contributors will own 35% of the total supply)
  • Conversion rate: 1 OLT = $0.052
  • Maximum market cap at ICO on a fully diluted basis: $43 Million
  • Bonus structure: 25% bonus for $6 million, and 20% bonus for $3 million
  • Private sale / white list: KYC registration starts May 9, 2018 at 12 PM EST, and goes until May 16, 2018 at 12 PM EST
  • ERC20 token: Yes
  • Countries excluded: U.S. / Canada / China / South Korean / Barbados & other FATF countries like Ethiopia, Iraq, Serbia, Syria, Trinidad and Tobago, Tunisia, Vanuatu, Yemen, Iran, North Korea
  • Timeline: TBA (Estimated May start and finish) (please refer to OneLedger’s website for all up-to-date details)
  • Token distribution date: TBA
Video summary (video is 6:24 long):

Project Overview

What does the company/project do?

OneLedger is a cross-ledger agnostic protocol that enables high-performance scaling. It plans on providing businesses with a blockchain development solution, which they will aim to simplify the creation of a customized or niche blockchain for their field.

To make their solution universal, OneLedger will be making use of side-chains to increase interoperability between varying blockchains like Bitcoin, Ethereum, etc.

To help accomplish their goals, there will be several broken down features, such as a Smart Identity Management Platform, Blockchain Services, Chaincode Service, and their Programming Interface.

Smart Identity Management Platform – OneLedger can provide a master private/public key pair that is assigned to an identity, which can then grant access to any other public key that the identity would have access to. This will create a universal identity solution for the tracking and access of assets/information on a variety of blockchains.

Blockchain Services – OneLedger will be able to create a side-chain on the OneLedger consensus protocol to be customized to that client’s needs. For instance, they can create various degrees of permissions/access. Using the Identity Platform, clients can create different levels of access for trusted users to access their blockchain.

Chaincode Service – OneLedger is developing a software development kit to provide businesses launching dApps on multiple platforms the ability to create a “Master Smart Contract” which will specify the smart contract written in each language of choice when necessary.

Programming Interface – APIs will be made available to create a set of desired functions for the client, allowing them to register new users, query the blockchain, etc.

Another core component of OneLedger is its business portal. The portal will allow business clients to develop every part of their blockchain solution.

In addition to the aforementioned services, they will also include the ability to connect with independent module developers to meet niche needs of a business. The entire process will be made transparent for the security and fairness of all parties involved.

How advanced is the project?

OneLedger has claimed to have completed an MVP thus far, but will be releasing its demonstration to the public in June 2018.

OneLedger’s roadmap is as follows:

Q2 2018

  • Launch Ethereum side-chain testnet
  • Synchronize ethereum side-chain with OneLedger protocol engine
  • Implement and optimize cross-chain consensus
  • Add more public-chain support
  • Launch MVP with cross-chain consensus

Q3/4 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 OneLedger Platform
  • Integrate with more blockchain protocols
  • Expand business network
What are the tokens used for and how can token value appreciate?

The tokens will be used in a number of ways. For instance, users of the platform will need to pay node runners OLT tokens in fees. Node runners themselves may have to stake OLT tokens in the future to ensure quality of network. Additionally, developers will be paid in OLT tokens for the creation of modules, with transactions executed on pre-defined smart contracts that allow for one time purchases, subscriber model payments, etc.

The tokens will appreciate in value depending on the value that the community sees in OneLedger. If there are a lot of businesses demanding specialized modules, a lot of users taking advantage of their services, and a lot of nodes being run to support the network, the demand for and value of OLT tokens will grow.

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Team

The OneLedger team has 9 team members listed with the following being the core:

David Cao, Founder and CEO - Over 16 years’ experience in commerce, with his most recent experience being with Xerox as Lead Commerce Consultant.

Alex Todd, CTA - Over 30 years’ cumulative experience in general and technological corporate governance, with his most recent experience being with PRESTO as CTO.

Stephen Li, Lead Engineer - Over 15 years’ experience in software development and consulting, with his most recent being as Founder of Services Informatiques YANG-LI INC.

Paul W. Homer, Lead Blockchain Engineer - Over 30 years’ cumulative experience in software engineering and analysis, with his most recent being as an application consultant for CIBC.

The team also has a suite of advisors including, Trevor Koverko, CEO of Polymath, Matthew Niemberg, Distributed Ledger Consultant, Craig G. Brown, Senior Canadian Legal Advisor, Jor Law, Founder of verifyinvestor.com, and Mervyn Chng, Managing Director at Gwei Capital.


Opportunities

  • The idea is ambitious, well thought out and is much needed to address the challenges surrounding the scalability and interconnectivity issues facing blockchains.
  • OneLedger focuses on providing a gateway to centralized enterprises while competitors such as Cosmos and AION are more for the general audience. This allows OneLedger to better cater to the target users’ needs. The total addressable market would be smaller than the competitors but the chance to succeed is also increased.
  • The team members and advisors are comprised of a good mix of technical and business-minded people. We believe the project should not have a difficult time finding enterprises to adopt its solutions.

Concerns

  • Interoperability is a hot topic and there are a lot of competing blockchain projects aiming to solve the problem. The increasingly crowded space would make it more difficult for OneLedger to stand out.
  • The team has developed an MVP but it is not available to the public. Therefore, it is difficult to analyze the quality of the MVP.

Conclusion

Overall, we like the flipping potential of the ICO but are neutral about its long-term potential. Our thoughts on buying the tokens for flipping and investing for the long term are as follows:

For flipping

Good. The idea, token metrics, and market awareness are above average. $15 million for a solid infrastructure project is considered fairly low in the current market condition.

For long-term holding

Neutral. Since this project is highly technical, without a functioning MVP that is available to the public, it is difficult to gauge the progress and quality of the development. Thus, it is hard to see whether OneLedger will be able to achieve their goals and succeed among the increasingly fierce competition.


For more information about the ICO, please visit the following links:

* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.

This article is contributed by Victor Lai with the help of our intern John Coburn.

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