WHAT IS QUADRANS
The Quadrans platform is an open source, public blockchain network that runs smart contracts and decentralized applications (DApps), in a new digital economy sustained by an internal reward mechanism.
A preliminary implementation of the main Quadrans blockchain features has been conducted under the Foodchain brand to run industrial activities to enable traceability, transparency and authenticity of information within Food supply chains. Blockchain used by Foodchain was born as a software fork of Ethereum software and has been successfully used over the past years in the Food industry.
Confident of the solid base provided by Foodchain use cases, further research and development that was undertaken lead to the creation of a blockchain-based distributed ledger technology designed to serve different industries. Quadrans will support EVM-compatible scripts and will maintain full compatibility with the technology used by Foodchain – this enables an immediate and seamless transition from Ethereum-based solutions.
The improvements of Quadrans platform will be achieved through the constant R&D activity of the Foundation, with the contribution of experts, researchers and academics worldwide that contribute to the support and development of Quadrans project.
Quadrans ecosystem uses two types of cryptographic assets:
- Quadrans Coin (QDC)
- Quadrans Token (QDT)
These perform different functions within the network and are equivalent to Coins and Tokens that can be found in other blockchain systems.
Quadrans Coins are equivalent to Ether (ETH) in Ethereum: they function as internal reward to the participants of the operations on the platform and are spent (in combination with Quadrans Tokens) to sustain the cost related to the upload and execution of new smart contracts on Quadrans blockchain. The function of running and verifying the smart contracts is performed by two different types of service nodes located throughout the network called “Masternodes” and “Miners”.
Masternodes handle inputs coming from the users and dispatch the computational work to the Miners, which permanently record the information into Quadrans ledger.
Coins are mined according to the amount of transactions and are defined by the mining algorithm. During the early stage of operation Coins will be mined every minute and the quantity foreseen for the following years will increase according to the use of the platform, in order to maintain a healthy and balanced ecosystem.
Tokens are pre-generated as a fixed number of 600 million units and have three functions:
- Serve as collateral for users that want to install Masternodes and/or Miner nodes.
- Enable the upload of new smart contracts (in combination with Coins).
- Regulate the distribution of new Coins as a reward for participating to the network.
Most popular blockchains perform very energy-intensive operations in order to execute validation and security operations whereas the multi-layered validation mechanism designed by Quadrans requires a lesser number of nodes that take on the intensive computational work, reducing the power consumption required to perform complex algorithms and reach consensus, branding Quadrans a sustainable and energy-efficient blockchain.
The Coin has been designed to minimize the volatility and solve the problems related to value changes. This will enables users to make accurate development plans reducing cost related uncertainties. The upload of new smart contracts on Quadrans platform requires transaction fee payable in Tokens and Coins.
The cost is calculated according to the data storage capacity and computational power required. In combination with other governing elements of the platform such as rewarding and validation, they will incentivize a virtuous and ethic use of the platform.
Quadrans aims to reach the “consensus” in a scalable manner. This will allow increasing significantly the system capability of performing transactions on-chain and handle an increasing number of users without scarifying security and decentralization.