Overline is a protocol designed to foster innovation by connecting blockchain technologies with liquidity and interoperability. Like Satoshi Nakamoto's Bitcoin, Overline is a cryptocurrency that uses mining hash power from machines around the world to build a "blockchain of blockchains" or multichain. You can read the full technical white paper here:
Blockchain technology has the potential to transform and restructure our existing economy. However, due to the limitations of incumbent technologies, there is a lack of interoperability between blockchains which hinders growth and innovation.
WEF: On Blockchain Interoperability
2020 World Economic Forum research paper on the need for Blockchain Interoperability.
Disparate blockchain networks are prevented from reusing, triggering, or executing transactions on other blockchains. Networks seeking to collaborate or interact are forced to rely on middlemen and third party platforms in order to bridge the gap. These third parties are a compromise to the design philosophy of decentralized technologies and introduce significant vulnerabilities to the entire industry as more products are built on inherently flawed protocols (read more here).
By connecting disparate Blockchain networks together, and baking connectivity into the technology itself, Overline helps organizations and individuals leverage the unique benefits of siloed Blockchain networks from one single platform.
Overline currently incorporates the Bitcoin, Ethereum, Waves, Neo, and Lisk blockchain protocols into its multichain.
Yes. This process will be entirely open source and community driven, along with the process of removing blockchains, but the initial cohort of additional protocols will be decided upon by team members of Overline.
Timble, named after Timothy Berners-Lee, is a scripting language which was created to operate the compiler in the Overline multichain.
They are the economic instruments of the Overline ecosystem:
Refer to the sections linked above for a deep dive on each of these coins.
The Proof-of-Distance algorithm requires the Overline miners to produce a valid cryptographic proof which demonstrates that they have observed the most recent blocks issued by each network connected to Overline. This proof is included within each block on the Overline multichain, creating a unified cryptographic state of the ecosystem with each new block issued.
Being an Overline miner or running an Overline node is defined as performing the task of continuously observing the states of all connected blockchain networks within the multichain, monitoring for occurrences relevant to the trades and transactions. As a result of miners verifying the current state of all child chains, miners also verify and add new cross-chain transactions by processing them locally.
Miners must expend computational resources to perform this activity, racing to produce cryptographic fingerprints which prove that they have in fact observed the latest blocks issued by connected chains. Those who are able to do so successfully earn NRG as a reward for their contributions to the network.
For a full guide on how to set up an Overline mining node and earn OVR, you can refer to this guide: Tutorial: Local CPU Miner
Updated 29 days ago