QT by Bison Trails is designed for companies and entrepreneurs building and scaling secure Web 3.0 applications today. QT provides a robust link between off-chain systems and blockchain networks; any off-chain system can use dedicated infrastructure to read and write data to the blockchain. Today, we’re introducing Diem (Libra) QT.
Diem QT provides fast, scalable, and dependable access to the Diem Validator Network through secure read/write nodes. Designated Dealers and VASPs–custodians, wallets, exchanges, and others–want to be live for mainnet, and Diem QT makes it easy to build and test systems today on premainnet. Customers building with Diem QT can easily transition to mainnet at launch, and be ready on day one.
The Diem White Paper, published in April 2020 by the Diem Association, details the four categories of participants on the Diem network:
The Diem network distinguishes between four categories of participants: (i) Designated Dealers; (ii) Virtual Asset Service Providers (“VASPs,” including exchanges and custodial wallets)... (iii) VASPs that have completed a certification process approved by the Association (Certified VASPs); and (iv) all other individuals and entities seeking to transact or provide services through the Diem network (Unhosted Wallets)...
Initially, the network will only be accessible to Designated Dealers and Regulated VASPs while the Association continues to develop its certification process for other VASPs and its compliance framework for Unhosted Wallets based on the feedback received from regulators.
Diem QT makes it incredibly easy for Designated Dealers and VASPs, as defined by the Diem Association, to build for the Diem ecosystem—whether for payment processing and transaction validation, or specialized uses like market making and smart contract authoring.
The task of deploying and maintaining resilient Diem node infrastructure suitable for production environments is no easy task. The Diem Association intends to offer limited access through public gateways, but Designated Dealers and VASPs who care about transaction speed, availability, and resiliency will require dedicated access.
Diem QT offers fully-managed, dedicated, and highly resilient Diem read/write nodes and supporting systems without the hassle and expense of running them in-house.
Diem has the potential to drive mass adoption of crypto at a global scale. Bison Trails joined the Diem Association as Founding Members in October of 2019 because we believe that accessible payment systems built on innovative blockchain technology can address real issues such as the cost and slow speeds of international money transfers. As an infrastructure company, we want to strengthen the network to support billions of transactions and make it easy for the Diem Payments Network to grow.
Our dual-role as an Association Member and service provider provides Diem QT several distinct advantages due to Diem’s network topology. Diem QT, with direct access to the Diem Validator Network, offers the fastest transaction speeds available to Designated Dealers and VASPs building for the Diem ecosystem.
Because of Bison Trails’ role as an Association member, our customer’s Diem QT nodes are able to peer directly with our participation nodes on the Diem Validator Network, bypassing public gateways. Diem QT provides lower-latency processing and faster transaction times for payments, trades, and smart contracts on the Diem Payment Network. Diem QT customers will also see faster resolution times, with confirmations available as soon as the Diem Validator Network reaches consensus.
Last year we authored the first guide to running infrastructure for Diem, and have worked to ensure Diem’s architecture can scale to billions of transactions. We are in a position to provide our customers insights into proposed changes and system upgrades, as well as an understanding of how decisions were reached.
Diem QT is a core part of our product offering for the Diem ecosystem. It allows people building on top of Diem to securely and easily integrate their exchanges and wallets, and build new and exciting applications. Diem QT provides the security and reliability needed to start building on Diem today.Aaron Henshaw, Co-founder and CTO
Are you a custodian, wallet, exchange, or company registered as a Designated Dealer or VASP on the Diem network? Contact us to learn more about building today with Diem QT.
Bison Trails is a blockchain infrastructure platform-as-a-service (PaaS) company based in New York City. We built a platform for anyone who wants to participate in 25 new chains effortlessly.
We also make it easy for anyone building Web 3.0 applications to connect to blockchain data from 33 protocols with Query & Transact (QT). Our goal is for the entire blockchain ecosystem to flourish by providing robust infrastructure for the pioneers of tomorrow.
In January, 2021, we announced Bison Trails joined Coinbase to accelerate our mission to provide easy-to-use blockchain infrastructure, now as a standalone product line. The Bison Trails platform will continue to support our customers. With Coinbase’s backing, we will enhance our infrastructure platform and make it even easier to participate in decentralized networks and build applications that connect to blockchain data.
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