QUADRANT PROTOCOL: BLOCKCHAINIZING THE DATA DISTRIBUTION MARKETPLACE IN A DECENTRALIZED WAY

adaoramma (46)in #blockchain • 6 years ago (edited)

As fuel is to moving vehicles, and food to the belly, so data is to every form of operations on digital platforms. Majority of the algorithms used on digital platforms requires a large quantity of data. Data can be purchased through various platforms like IBM, Oracle, etc. However, there is issue with the authenticity of data purchased. Research has shown that about 92% of data driven companies are still battling with obstacles to successful big data projects. Some of these obstacles are poor quality of data, unreliability of the platforms selling data, high cost of data and others. Nevertheless, Quadrant protocol has appeared to give solutions to these flaws.

ABOUT QUADRANT PROTOCOL

It is a blockchain based platform developed to solve the problems caused by the impacts of poor data quality on digital marketplace by mainly ensuring adequate authenticity of distributed data. It has the aim of making data ecosystem better for the use of data vendors, data producers, as well as data buyers. It is simply a platform for data authentication, verification, and exchange.

HOW QUADRANT SEEKS TO SOLVE THESE ISSUES?

The outline of Quadrant objectives are as follows:
Implementation of proof of data authenticity.
Incentivized and decentralized sharing of data.
Clustering of disparate sources of data.
Every of the data on this platform will have their stamp for records of origin. The proof of data authenticity will help data stakeholders to view the stamped records of the data they are about to purchase. This records will create trust in the ecosystem since it is blockchain driven which will ensure its immutability and immune against any form of manipulations. Quadrant platform has a data verification consensus model which give the accurate authenticity of data.
The decentralization of the data ecosystem will enhance the seamless accessibility of various data users to the data pool. It will also enhance the reliability, security and reduced cost of transaction, as the ecosystem will be operating using a public distributed ledger. Security threat has been one of the prominent issues plaguing the data marketplace. History have it that the popular social platform; Facebook, of recent has the issue of leak of data and information of about 50million of its users, which actually lowered its productivity. This shows how gigantic the issue of security is when it comes to the digital marketplace. However, Quadrant protocol offers reliable and adequate security of data by making use of blockchain with proof of work algorithm. The platform is indeed a blueprint for mapping a decentralized system of data distribution ecosystem.

The platform offers an atmosphere in which various data sources can come together on a platform, and each with their own very effective and adequate audience.

Furthermore, Quadrant was able to discover the disorganized state of the data distribution ecosystem, this is why it is proposing and implementing the constellation of the data sources resulting to an organized data structure.