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Quadrant Protocol

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Discover Quadrant Protocol's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Quadrant Protocol?

Quadrant Protocol (EQUAD) is a blockchain-based data protocol that facilitates the creation and distribution of data-focused products and services. It operates on the Ethereum platform and has a total supply of 1 billion tokens. The protocol enables secure, traceable, and transparent data exchange, ensuring data authenticity and provenance through its unique stamping mechanism. Quadrant Protocol is used in various applications, including Geolancer, which allows users to collect, validate, and sell location data, and Quadrant.io, a platform for sourcing and transacting authentic data.

How is Quadrant Protocol used?

The Quadrant Protocol (EQUAD) is a blockchain-based data protocol that facilitates the secure, traceable, and transparent exchange of data and AI services between organizations. It powers the Quadrant.io platform, which allows businesses and governments to source and transact high-quality, authentic data. The protocol "stamps" data at its source with a unique signature, ensuring that any stamped data can be traced and verified back to its origin at any time, making it provably authentic.

The Quadrant Protocol is used to authenticate and map data, enabling the creation of targeted data sets that are relevant to specific needs. This technology is particularly useful for data professionals who require high-quality, authentic data to make informed business and policy decisions.

In addition to data authentication, the protocol supports the Geolancer app, which allows users to collect, validate, and sell location data. This data is used by major mapping and ride-hailing companies to make informed decisions. The protocol also supports the use of utility NFTs, which incentivize users to collect data from hard-to-reach areas, providing value to enterprise clients.

The EQUAD token is used as a means of payment for services on the Quadrant.io platform. Customers can purchase Service Credits, which are priced at $1 US Dollar each, to access services such as data stamping and verification. These credits are non-refundable and cannot be converted into a tradeable cryptocurrency. The protocol's focus on secure and transparent data exchange makes it a valuable tool for organizations seeking reliable data solutions.

How do I store Quadrant Protocol?

To store Quadrant Protocol (EQUAD) tokens, you can follow these steps:

  1. Create a Crypto Wallet: You need a digital wallet that supports the Polygon blockchain, as Quadrant Protocol operates on this network. You can use a wallet like MetaMask or Trust Wallet.

  2. Set Up the Wallet: Download and install the wallet, then set it up by creating a new account or importing an existing one. Make sure to securely store your private keys and recovery phrases.

  3. Add Quadrant Protocol: In your wallet, navigate to the mainnet list and select Quadrant Protocol (EQUAD). This will allow you to manage your EQUAD tokens within the wallet.

  1. Transfer EQUAD Tokens: Once you have purchased EQUAD tokens, you can transfer them to your wallet. Ensure you have enough blockchain native tokens (like ETH) to cover transaction fees.

  2. Secure Your Wallet: Always keep your wallet and private keys secure to protect your EQUAD tokens from unauthorized access.

By following these steps, you can safely store your Quadrant Protocol (EQUAD) tokens in a digital wallet.

How to buy Quadrant Protocol?

To buy Quadrant Protocol (EQUAD) tokens, you can follow these steps:

  1. Choose an Exchange: Select a reliable exchange where EQUAD is listed. You can opt for a centralized exchange like Binance or a decentralized exchange (DEX) like KuCoin.

  2. Create an Account: If you don't already have an account on the chosen exchange, create one by following the exchange's registration process.

  3. Fund Your Account: Deposit the required base currency (e.g., Ethereum) into your exchange wallet. This will be used to purchase EQUAD tokens.

  1. Buy EQUAD Tokens: Use the deposited base currency to buy EQUAD tokens on the exchange. You can refer to the exchange's guide for specific steps on how to execute the purchase.

  2. Transfer to Your Wallet: Once you have purchased EQUAD tokens, transfer them to your personal cryptocurrency wallet for safekeeping.

Remember to research the exchange fees and market rates before making your purchase.

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History of Quadrant Protocol

The Quadrant Protocol (EQUAD) is a cryptocurrency established in 2018. The project was founded by CEO Mike Davie in Q3 2017, who previously founded DataStreamX, an online marketplace for real-time data. DataStreamX is the first partner to use the Quadrant protocol.

The Quadrant protocol has two tokens: QUAD and eQUAD. eQUAD is an ERC20 placeholder token that was used until the mainnet launch. After the mainnet launch, eQUAD holders were expected to convert their tokens to QUAD. The total supply of QUAD is one billion, with 40% of the tokens sold to the public during the crowd sale.

The project has notable advisors, including Dorjee Sun, Benedict Chan, and Pavel Bains. Since its inception, the project has released a testnet and began testing with initial clients. The mainnet was planned to be launched, followed by the introduction of Nursery micropayments and distributed Guardian nodes in 2019 and 2020, respectively.

Quadrant Protocol is a data protocol that uses blockchain technology to authenticate and map data. It "stamps" data at its source with a unique signature, allowing any data point to be traced and verified back to its origin at any time, ensuring all stamped data is provably authentic.

The protocol is designed to provide a sustainable marketplace for data-driven businesses, allowing data sources to monetize their data, data vendors to receive reliable data streams, and consumers to trust the validity of the data they receive. It aims to level the playing field for data-driven businesses by providing access to data streams that were previously unavailable, which should help the entire data ecosystem grow.

The Quadrant Protocol has a real-world enterprise product called Geolancer, which is powered by the protocol and has already mapped the data universe and supply chain. Geolancer enables users to collect, validate, and sell location data, helping businesses make informed decisions.

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How Quadrant Protocol works

The Quadrant Protocol (EQUAD) is a blockchain-based platform designed to facilitate the transparent exchange of data and AI services between organizations. It operates on the Ethereum platform and has a total supply of 1 billion tokens. Here's a detailed overview of how it works:

Key Components
  1. Data Stamping and Verification:

    • The Quadrant Protocol uses blockchain technology to authenticate and map data.
    • Data is "stamped" at its source with a unique signature, allowing any data point to be traced and verified back to its origin at any time, ensuring all stamped data is provably authentic.
  2. Data Ecosystem:

    • The protocol consists of four types of entities: Nurseries (data providers), Pioneers (data vendors), Elons (data consumers), and Guardians (masternodes that verify and authenticate data).
  3. Data Products and Services:

  • Constellations are clusters of data that enable easy access to a suite of data, making it more accessible and robust. If a data source goes down, another can take its place with limited downtime.
  1. Payment and Incentives:

    • QUAD tokens are used for payment between data sellers and buyers. They are also required for other protocol functions, such as staking by Elons to access data sets and remuneration for Pioneers and Guardians.
  2. Geolancer App:

    • The Geolancer app, powered by Quadrant Protocol, allows users to collect, validate, and sell location data, helping businesses make informed decisions. It has over 2 million Points of Interest created and is used by major mapping and ride-hailing companies.
Functionality
  • Data Collection and Validation: Users can collect and validate data through the Geolancer app, which is then sold to businesses and governments.
  • Data Mapping and Authentication: The Quadrant Protocol maps and authenticates data using blockchain technology, ensuring its provenance and authenticity.
  • Data Access and Payment: Data consumers can access data products and services using QUAD tokens, which are used for payment and other protocol functions.
Benefits
  • Secure and Transparent Data Exchange: The protocol ensures secure, traceable, and transparent data exchange between organizations.
  • Fair Remuneration: Automatic payments through smart contracts ensure that data sources are fairly compensated.
  • Robust Data Feeds: Multiple data sources make the feeds more robust, reducing downtime if a source goes down.

Overall, the Quadrant Protocol provides a secure, transparent, and fair ecosystem for data exchange, making it a valuable tool for businesses and governments seeking high-quality, authentic data.

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Quadrant Protocol's strengths

The Quadrant Protocol (QUAD) token has several strengths that contribute to its value and utility within the ecosystem:

  1. Native Currency: QUAD is the native digital cryptographically-secured utility token of the Quadrant Network, designed to be used solely on the network. This ensures its primary function is to facilitate transactions and interactions within the protocol.

  2. Payment and Settlement: QUAD serves as the unit of exchange between participants on the Quadrant network, providing a convenient and secure mode of payment and settlement. This enables seamless transactions between data sellers and buyers.

  3. Incentivization: QUAD is required as virtual crypto “fuel” for using certain designed functions on the Quadrant network, providing the economic incentives that encourage participants to contribute and maintain the ecosystem. This ensures that users have a direct stake in the network's success.

  1. Security and Authenticity: The Quadrant Protocol uses blockchain technology to authenticate and map data, ensuring that all stamped data is provably authentic. This feature is crucial for maintaining trust and reliability in the data marketplace.

  2. Fair Remuneration: The protocol automates payments throughout the data pipeline, ensuring that data sources are fairly compensated for their contributions. This promotes a more equitable distribution of revenue within the data industry.

  3. Scalability and Accessibility: By providing easy access to a suite of data, the Quadrant Protocol enables smaller businesses to compete with larger players. This drives prices down and makes data more accessible, fostering a more robust and competitive data marketplace.

  1. Real-World Applications: The Quadrant Protocol has real-world enterprise applications, such as the Geolancer app, which has already mapped over 2 million points of interest and facilitated numerous reward transactions. This demonstrates the token's practical utility and potential for widespread adoption.

These strengths collectively contribute to the value and functionality of the QUAD token, making it an integral part of the Quadrant Protocol ecosystem.

Quadrant Protocol's risks

Quadrant Protocol (EQUAD) faces several financial risks that investors should be aware of:

  1. Market Volatility: As a cryptocurrency, EQUAD is subject to significant price fluctuations, which can result in substantial losses if the market moves against investors.

  2. Regulatory Uncertainty: The regulatory environment for cryptocurrencies is still evolving and can be unpredictable. Changes in regulations or laws could negatively impact the value of EQUAD.

  3. Competition: The data and AI services market is highly competitive, and Quadrant Protocol must compete with other established players. If the protocol fails to differentiate itself or keep up with technological advancements, its financial performance could suffer.

  1. Token Supply and Demand: The total supply of EQUAD tokens is capped at 1 billion, which could lead to supply and demand imbalances. If demand for the token increases significantly, the price could rise rapidly, but if demand drops, the price could plummet.

  2. Revenue Model: Quadrant Protocol's revenue model relies on the sale of Service Credits, which are non-refundable and cannot be converted into tradeable cryptocurrency. This model may not be sustainable in the long term if users do not find the services offered valuable enough.

  3. Dependence on Geolancer: Geolancer, a key application powered by Quadrant Protocol, is responsible for a significant portion of the protocol's revenue. If Geolancer experiences difficulties or loses popularity, Quadrant Protocol's financial performance could be negatively impacted.

  1. Token Sale Risks: The token sale process, which raised $15.5 million, may not have been successful in distributing tokens widely enough, potentially leading to concentration of ownership and control.

  2. Operational Risks: The protocol's infrastructure and technology may be vulnerable to security breaches, data loss, or other operational issues, which could compromise the integrity of the data and services offered.

  3. Liquidity Risks: If there is low liquidity in the EQUAD market, investors may struggle to buy or sell tokens quickly enough or at a favorable price, leading to financial losses.

  1. Management and Team Risks: The success of Quadrant Protocol depends on the expertise and performance of its management team. If key team members leave or the team fails to execute its strategy effectively, the protocol's financial performance could suffer.

These financial risks highlight the importance of thorough research and due diligence before investing in Quadrant Protocol (EQUAD).

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Did Quadrant Protocol raise funds?

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Quadrant Protocol's ecosystem

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Quadrant Protocol’s team

  • Mike Davie: CEO and Founder, started the project in Q3 2017, and previously founded DataStreamX, an online marketplace for real-time data.
  • Barkha Jasani: Head of Research & Technical Development, leads the end-to-end development of the platform and the architecture for the blockchain.
  • Sharique Azam: Big Data Architect & Blockchain Engineer, leads the core development of the private blockchain and distributed applications.
  • Roger Ganga: Data Scientist & Blockchain Developer, responsible for machine learning and data science operations and develops Data Smart Contracts.
  • Marlina Farhin: Front-end Developer, responsible for designing and developing responsive sites for DataStreamX.
  • Navas Khan: Head of Marketing, contributes to the growth and expansion of the company and educates people about the data economy.
  • Nikos Kostopoulos: EU Community Manager, organizes the community around Quadrant Protocol in Europe and has experience in cryptocurrency and blockchain businesses.

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