QPQ, a deep tech enterprise focused on realising the programmable economy, has unveiled 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.
QPQ, a deep tech enterprise focused on realising the programmable economy, has unveiled 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.
