OATH – A FAIR, TRANSPARENT DISPUTE RESOLUTION SYSTEM & PROTOCOL BASED ON BLOCKCHAIN TECHNOLOGY

syndicator (46)in #ico • 6 years ago

Blockchain technology can be applied in different aspects in daily life. Its development has brought to the world a promising decentralized internet, new ideas, and business opportunities. In fact, it is very essential to build and protect a high secure and trustable decentralized system. Blockchain security should have two different layers: Technology and Governance. Normally, to ensure security, users of this type of system will rely on smart contracts to do business and collaborate with others. However, nowadays, smart contracts still haven’t been widely accepted or still had limitations. Understanding these difficulties, OATH is building the first of its kind, community – based dispute resolution protocol, modeled on the common – law jury system.

Based on blockchain technology, OATH is used as an alternative dispute resolution protocol. It is an infrastructure layer between chains and dApps. Using a decentralized juror community with a complete new consensus mechanism and Proof of Common sense, OATH Protocol believe that they will be the best solution for blockchain governance problem.
To achieve the aim of providing a solution for community, their team already has intention of increasing the usability of smart contracts by creating an easy to use and friendly tool to create smart contract. Besides, they also want to create a decentralized jury community comprising members from diverse backgrounds as well as experts in other areas. Another objective is to increase the number of users to only provide governance for the dApp but also for other ecosystems.

Appearing in the current market, OATH has several advantages to succeed.

First of all, OATH can be used for any blockchain and provide additional value to that network with their service.
At present, there are not many companies focusing on blockchain governance and dispute resolution. That’s why we can say that OATH is a very competitive and interesting project.
Occasionally, OATH is a very fair and transparent protocol. Any user of any blockchain can be selected as a juror for OATH multiple cases. They will be chosen randomly based on a variety of factors such as gender, background, age to have full objectivity. Moreover, all the information of jury members will be kept confidentially, which provides their user security and flexibility.
This project has created a good impression with investors. Since the idea of this project was created, it has received the money from big investment funds: Amino Capital – a venture firm from Palo Alto, Global Blockchain Innovative Captial, Continue Capital, etc. Besides, OATH also announced it strategic partnership with big platforms in blockchain industry such as NEM, Qtum, Quarkchain, which enables OATH to get access to large ecosystem.
All members, advisors and partners of OATH have been verified. All the members of OATH team are well – qualified, coming from diverse background in technology, business, and law. Besides, OATH Protocol also has established strategic partnerships with world – class platforms in blockchain technology.

Apart from all the growth potential, this project still has several limitations. First of all, it still does not have MVP, it only has active Github. Secondly, their team does not have many public activities. Moreover, in present context, crypto market still continues to fall, which creates a lot of difficulties for both OATH Protocol and their investors. Finally, before the appearance of OATH, there was a project called Kleros. It also has the same idea with OATH, however, this project still haven’t achieved its full potentials. Therefore, it will be very challenging for their team to prove their ability and bring all the functions written in their white paper into real life.

OATH will issue 10,000,000,000 ERC-20 tokens (OATH) that facilitate engagement between participants on the platform by providing access to the platform and acting as its internal currency.
OATH can be earned by acting as nodes, arbitraging contracts, or providing community services. It may also be purchased from crypto exchanges and marketplaces.

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More info about OATH token can be found here: OATH Tokens

In conclusion, OATH Protocol provides one of the most important protocols for blockchain security. The idea of this project is very exciting and promising. We are also very impressed with the fact that they received the investment from Continue Capital as well as established partnership with world – class platforms. If their team
can succeed in making all their objectives real, OATH will become a leading example of a public chain’s use of a decentralized governance protocol.