OATH - Blockchain Dispute Resolution & Governance Protocol
We will provide Article to present the “ OATH PROTOCOL” project to potential platform participants and those who are interested in contributing to its development. The information listed below may not be complete and does not imply any contractual relationship. The main purpose is to provide information to everyone, so that they can determine whether they are willing to analyze the company with the intention of obtaining token or invest.
The hope of joining the This project is very big for us, before you join it will be better if you understand the project besides it will add to your insight and improve information for you especially understanding the project’s vision and mission so that it adds to your trust in.
Blockchain Security should have two layers: cybersecurity and governance. Although the focus tends to be on cybersecurity (anti-hacking, code review, etc.), regular users encounter conflicts/disputes more often than security hacks in their day-to-day usage, making governance just as important as, and covering more areas than cybersecurity. This is even more true in a decentralized ecosystem that does not (or should not) have centralized arbitration services.
Presently, a decentralized, transparent, and fair dispute resolution system with no conflict of interests is the most important missing piece for blockchain.
Modeled on the common law jury system, Oath Protocol combines one of the most reliable legal systems from the real world with blockchain technology, cryptography, computing algorithms, game theory reputation system, and other concepts to provide a layer 2 cross-chain infrastructure along with supporting technologies for a decentralized, standard, and extensible public chain-agnostic protocol that protects dApp users’ rights and assets.
- Decentralized community decisionmaking: Oath Protocol relies on regular blockchain users to form its juror community and decide cases, initially with juries ranging from 11–101 jurors. Jurors do not need to hold OATH tokens to qualify for juries (no staking), therefore eliminating concentration of power and potential for improper control of the platform. Larger juries (min 11 jurors) also more accurately represent community consensus and ensure decentralized decisionmaking.
- Semi-decentralized voting process: only two transactions take place on-chain (and require gas fees to record): initiation of the case and recording of the case result. The evidence submission, jurors’ questions to the parties, and voting take place off-chain, facilitating more robust case participation by the jurors and eliminating gas fees associated with fully on-chain voting.
- Layer 2 protocol: as an infrastructure layer, Oath Protocol does have to deal with the potential difficulty of enforcing the decision rendered by the jury. When chains or dApps use a smart contract that incorporates Oath Protocol as the standard dispute resolution mechanism, once the case is decided, the outcome is returned to the smart contract, which then self-executes.
- Algorithms and safeguards to ensure fairness: Oath’s dynamic allocation algorithm reduces the odds of the same jury members resolving multiple disputes to avoid collusion. Oath’s categorized random algorithm, designed for reducing bias, selects jurors with diverse backgrounds to ensure fairness. The jury members’ identities are kept confidential through cryptographic techniques to ensure objectivity and immunity from external influence.
- Compatibility with any public chains or dApps: via APIs, Oath Protocol is compatible with any chains or dApps, and our smart contract template library (with templates that address a variety of use cases and come with built-in Oath dispute resolution and governance protocol) allows for easy integration.
- Credit level system and data analytics: Oath Protocol’s credit level system and token reward mechanism incentivize good-faith decisionmaking and protect the ecosystem from bots and bad actors. Oath Protocol will also collect and analyze data relating to jurors’ behavior to enable our selection algorithms to accurately select the best group of jurors for cases. Through our combination of the credit level and juror data, Oath can provide the best and most reliable arbitration services for all kinds of use cases.
- Scalability and tiers: Because users are not required to have specialized expertise to become jurors, the jury community can grow significantly. Using the credit level system, Oath can accurately assess the jurors’ decisionmaking reputation. For complex or high-impact cases, Oath will be able to select top-tier jurors with the highest credit level. For simplest cases, Oath may use a broader juror pool, with no minimum credit level requirement.
- Transparency: OATH saves all key data, as well as the jurors’ votes and stated reasons therefor, on the blockchain to create an immutable and searchable record.
The details of the ICO
In order to use the service from OATH, the user must pay a small amount in tokens (OATH). In total, 10 billion coins will be issued, all of them represent the ERC-20 standard. The cost of 1 OATH = 0.005 USD. In total, the developers intend to collect Hard Cap in the amount of 10,000,000 USD.
2018 — Q2
2018 — Q3
Team and Advisors
2018 — Q4
2019 — Q1
Public Beta and Integration
2019 — Q2
2019 — Q3
API Version and Partner Expansion
2019 — Q4
For More Information you can visit link below :
- Website: https://www.oathprotocol.com/en/
- Whitepaper: https://oaths.io/files/OATH-Whitepaper-EN.pdf
- Telegram: https://t.me/oathsio
- Facebook: https://www.facebook.com/oathprotocol/
- Twitter: https://twitter.com/OathProtocol
Author : Letty sits
Profile Link : https://bitcointalk.org/index.php?action=profile;u=1856247