What is Overline?
What is Overline?
Overline is a multichain protocol to execute transactions between blockchains on the regular internet and WIRELESSLY without cellular service or the internet in general.
94% Cheaper Than Uniswap.
Trade Ethereum tokens with each-other or directly with Bitcoin using 94.6% using Overline to trade. This is done by locking and unlocking collateral in a way that exponentially optimizes atomic swaps.
Quarterly Statistics (Updated: Q4 2021)
|OL Active Collateral||Total OL Circulating||Mined / Collateral Ratio||Blocks Mined||OL Per Block||Quarter|
|1,608,110,621 OL||83,277,619 OL||+1931.02%||5,344,236||15.58||Q3 2021|
|1,696,391,120 OL||105,467,924 OL||+1608.6%||5,978,286||17.64||Q4 2021|
A Multichain like Polkadot only Mineable
100% decentralized and Proof of Work, Overline is unique among other interoperability projects in that it does not use validators, relays, or centralization of any kind. The multichain is mined like Bitcoin or Ethereum blockchains, Overline uses only miners to connect blockchains through proof of work.
World's Fastest Proof of Work Chain
Overline issues new blocks every 3-5 seconds.
The Overline white paper is available here
Why does Overline exist?
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.
What are the blockchains Overline connects?
Overline currently incorporates the Bitcoin, Ethereum, Waves, Neo, and Lisk blockchain protocols into its multichain.
Can other blockchains be added in the future?
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.
What is the Timble script?
Timble, named after Timothy Berners-Lee, is a scripting language which was created to operate the compiler in the Overline multichain.
Review this section for more details on Timble.
What are Overline (OL) / Emblems (EMB) / Leased Emblems (L-EMB)?
They are the economic instruments of the Overline ecosystem:
|Overline (OL)||“The reward for participating in the network.”|
|Emblems (EMB)||“A method of supercharging your mining reward.”|
|Leased Emblems (L-EMB)||“A means of liquidity for EMB.”|
Refer to the sections linked above for a deep dive on each of these coins.
What is Proof-of-Distance (PoD)?
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.
How does a Overline miner work?
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 Overline (OL) as a reward for their contributions to the network.
How do I set up an Overline miner?
For a full guide on how to set up an Overline mining node and earn OL, you can refer to this guide: Tutorial: One Click Miner
Updated 29 days ago