OneLedger ICO Review
A Universal Blockchain Protocol Enabling Cross-ledger Access through Business Modularization
So what is OneLedger all about ?
OneLedger basically acts like the one-stop shop for all your business application needs with its modularization tools and it allows your business application to interact with different public and private blockchains synchronously through sidechains implemented in OneLedger platform.
How does OneLedger make this all work?
Through it's three-layer consensus protocol which enables more effective integration of different blockchain applications. Business logic can be implemented by the first layer .The side chain consensus protocol can move consensus traffic from the main chain with public consensus to the side chain with high performance and efficiency. OneLedger block structure enables the synchronization and reference between the three-layer consensus.
Highlights of OneLedger
Business Modularization
OneLedger forms a realizable and verifiable blockchain network which is modularized from real-world functionality, based on the sharing and immunity mechanisms provided by blockchain techniques.
Protocol-based Blockchain Communication
All transaction data and real source records are written into distributed nodes by validation mechanism of data sharing through OneLedger protocol. OneLedger protocol enables communication and access across the blockchain, and allows for deployment and extendability across various Blockchain networks.
High-performance Transaction
High-performance transactions enabled by a uniquely-engineered role and arbitration mechanism allowing for storage of data in a hierarchical structure.
Multi-chain Runtime Support
Focuses on providing a consistent runtime which is compatible with various blockchain protocols and application development stacks.
The Team
Who are the people behind this project? Can they even make this work?
David Cao - Founder & CEO
David has over 3 years of blockchain experience(Including being the Chairman of Canada China Blockchain Professional Association) and over 10 years of enterprise architect experience, David worked on a magnitude of technical projects for several Fortune 500 enterprises. He also worked at IBM Toronto Lab with the development of DB2 and WebSphere Commerce core engine.
Stephen Li - Lead Engineer
Stephen is the Javascript expert; A very experienced full stack web developer; Deep understanding of the various backend and frontend technologies; He has also done consulting for various prominent companies such as Morgan Stanley and has also worked in IBM and Microsoft
Paul W.Homer - Senior Blockchain Engineer
Paul has nearly three decades of successfully building complex software systems for in-house and commercial application.
What about their tokens?
Token supply: 1 billion OLT
Softcap: 4 million USD
Hardcap: 15 million USD
Seed round: 1 million USD, vesting period of 6 months with monthly cliffs for the bonus, implemented in smart contracts
Private presale I: 6 million USD
Private presale II: 3 million USD
Public sale: 5 million USD
Overall these are very healthy token economics as 60% of which are allocated to the community be it through the Sales Distribution or even the Community Reserve
The Team reserve tokens are also vested for a period of 24 months with quarterly cliffs as well as the advisors reserve tokens which is vested for 12 months as well.
Who is backing this project?
They have several advisors for business development, ICO advisors as well as investors on board which is very promising for OneLedger.
However, we still need to look at the partners & investors and consider what long-term benefits would they bring to the table.
Most capital funds bring along their reputation and their resources when they decide to back a project, they don't just invest or blindly throw money to a project. It is always reassuring to see several large funds willing to invest in OneLedger such as MW Partners who have partnerships with projects such as Loom Network, Phantasma, Block Collider and Taraxa. This is because partnerships and investors like these will be able to bring together different projects and build them up together.
Community Backing
Looking at their telegram group over at https://t.me/oneledger, OneLedger has (as of time of writing):25,656 members! These numbers are completely organic as OneLedger has never done any bounty programmes nor have they done any airdrops to artificially inflate telegram numbers. This puts it miles ahead of other ICO projects that do Airdrops/Bounty programs in order to have a larger number of members in their telegram in my book.
Wait a minute those are just numbers, what are people saying about OneLedger?
Source: https://www.coingecko.com/en/ico/one-ledger
OneLedger has been rated very highly by numerous ICO Rating websites and Reviewers, which is a good assurance to have, however one should never invest blindly based on just the words of others.
Verdict
Overall, OneLedger is a project with solid fundamentals, it brings about a much-needed solution to the blockchain space. They have an experienced team behind them although they have not published a MVP. It is backed by prominent advisors, investors as well as partners. I will be looking forward in seeing what OneLedger can achieve in the near future.
