Delivering major breakthroughs in performance and interoperability
Zurich, Dublin and London, 11 April 2022: QPQ, a deep tech enterprise focused on realising the programmable economy, unveils a new network protocol with a suite of security, scalability and interoperability tools. When launched, it will provide a single means to access all major Distributed Ledger Technology (DLT) networks, services and trading venues.
To demonstrate its capability, it will solve the hardest problem in the DLT world – scaling Ethereum without recourse to recentralisation or batching:
- QPQ’s Atomic Swap Engine (‘ASE’) will scale Ethereum, enabling 25,000 transactions per second (‘TPS’) with finality in under 10 seconds, 120 times faster than Ethereum at 1/1,000th of the cost, without compromising on security or decentralisation.
- QPQ’s technology bridges the major DLT protocols, creating a new layer zero ‘protocol of protocols’, allowing the free flow of assets and services as a consolidated whole.
- In subsequent phases, QPQ will expand its capacity from tens of thousands of TPS to tens of millions, establishing the rails for the programmable economy of Web4.0.
QPQ’s ‘Alpha’ phase will commence on 11 May 2022, allowing early adopters to position their commercial operations ahead of general availability in Q4 this year.
QPQ is delivering on the basic premise of DLT: to make it possible to trust the message, not the messenger; securely, speedily, at scale, with minimal cost. To do this, QPQ will deploy a suite of scaling and interoperability tools based upon its Atomic Swap Engine.
ASE networks DLT protocols and legacy data systems to deliver a distributed fabric that makes the strengths of one protocol the strengths of all. For example, the ASE protocol takes the programmability of Ethereum, and combines it with the fast finality and throughput of Algorand and other high speed DLT protocols.
ASE combines its fast Consensus-as-a-Service (‘CaaS’) module with Multi-Party Compute (‘MPC’) operations to underpin its bridging services. This allows for all DLTs to share assets and services with each other using ASE’s common messaging protocol.
This is a paradigm shift from other scalability solutions such as Roll Ups or ZK STARKs which achieve a degree of scalability by batching transactions, centralising and pursuing proofs. These methods can take between several hours to seven days to achieve finality, replicating the types of siloed network designs and settlement risks that the traditional financial industry is trying to move away from.
The first in QPQ’s roadmap of services is being rolled out now. By the end of Q2 2022, early adopters will be able to:
- Connect their public or private DLTs to ASE, delivering the scale, speed and cost of transactions necessary to enable commercial operations;
- Plug into ASE’s interoperability tools to access tokens and services in multiple DLTs, unlocking the pools of liquidity currently trapped in DLT and creating a network of markets and a market of networks;
- Use ASE’s “1-Click-DLT” service to rapidly launch their Ethereum node with pre-built integration to ASE’s scaling and interoperability services that overcomes the failings of so-called “Layer 2” solutions.
By Q4 2022, QPQ’s ASE will support the networking of at least six leading DLT networks to create a single, consolidated DLT framework that gives users access to the best features of all the networked protocols.
Commenting on the launch, QPQ’s CEO and Founder Greg Chew, said: “QPQ’s goal is to fix the current deficiencies of blockchain and make Web3.0 a reality. We have started by creating a new, decentralised zero layer – a singular, consolidated network protocol of protocols. ASE networks DLT protocols and legacy data systems to deliver a distributed fabric that makes the strengths of one protocol the strengths of all, creating a consolidated network of markets and a market of networks.”
He added: “Over the next three phases of development, QPQ will become the mechanism for real-world economies where economic emancipation, data sovereignty, and regulatory confidence can operate harmoniously. Over the next quarter we will be engaging with the market and seeking out early adopters who want to join us in our mission to Digitalise, Decentralise and Equalise.”