Oracles Network

Oracles Network

Created using Figma
Created using Figma
Oracles Network is the first Ethereum-based public network with Proof of Authority consensus, reached by independent validators. Oracles Network makes smart contract platform cheaper and faster than POW predecessors.
Risk: High
Dec 1, 2017
Jan 1, 2018
100% completed
$12 641 032
100% goal completed
past
Nov 17, 2017
Nov 30, 2017
100% completed
Raised funds - no Data
Cap 12 500 000 USD
past
Token Details
Ticker
POA
Accepted Currencies
ETH
Additional Details
MVP/Prototype
Yes
Platform
Ethereum
Company Details
Registered Country
USA

About Oracles Network

Oracles Network is an open, public, permissioned blockchain based on Ethereum protocol. To reach consensus on a global state, it uses a Proof of Authority consensus algorithm. PoA consensus is a straightforward and efficient form of Proof of Stake with known validators and governance-based penalty system. A list of validators is managed by a smart contract with governance by validators. During an initial ceremony, master of ceremony distributes keys to 12 independent validators. They add 12 plus one more to reach initial requirements for the consensus. To be validators on the network, a master of ceremony asks them to have an active notary public license within the United States. A concerned third party can cross-validate validators’ identities using open data sources and ensure that each validator is a good actor with no criminal records. In the proposed network, identity of individual validator and trust to independent and non-affiliated participants will secure the consensus.

The network is fully compatible with Ethereum protocol. The network supports only Parity client version 1.7 and later. The network supports trusted setup, on-chain governance, and a variety of “proof of identity” oracles. We believe that Oracles Network will close a gap between private and public networks, and will become a model for open networks based on PoA consensus.

Features

1. Proof of Authority. Proof of Authority (PoA) is an alternative consensus mechanism, which does not depend on the nodes solving arbitrarily difficult mathematical problems, but instead uses a set of "authorities" - nodes that are explicitly allowed to create new blocks and secure the blockchain.
2. Validator. Validators on Oracles Network are the known people who validate the blocks.
3. Master of Ceremony. The Master of Ceremony is the initiator of a network. Using the Ceremony DApp, the Master of Ceremony creates 12 initial keys and distributes them to individual validators. Validators then replace initial keys with a new subset of keys. This initial ceremony launches the network.

Technical Info

Technical details:  Ethereum ERC20 standard token. The source code:  The code is not available. Proof of developer:  Public team.

Roadmap

  • April 2017

  • The project announced on Silicon Valley Ethereum Meetup. First validators joined the waitlist.
  • May 2017

  • NotaryCoin renamed to Oracles Network. Igor won Consensus 2017 Hackathon with Ceremony DApp.
  • August 2017

  • The network launched on the testnet with 12 independent validators. Initial Ceremony and Governance DApps deployed in production.
  • September 2017

  • First projects launch their tokensales using Oracles Network ICO Wizard, a tool for running a crowdsale on blockchain for non-developers.
  • Read More
  • Oct-Nov 2017

  • ICO Wizard integrated with Parity bridge for the state of the art cross-chain ICO of Oracles Network.
  • November 2017

  • Oracles Network mainnet launched and connected to the exchanges. Coins unlocked in real time using the bridges
  • December 2017

  • Oracles Network team expanded with other experienced engineers and researchers focusing further on blockchain scalability.
  • First Half, 2018

  • Multiple PoA based networks connected their DApps using bridges without PoW/PoS predecessors.
  • Second Half, 2018

  • Oracles Networks becomes a platform with multiple PoA networks connected by interledger protocols.

Activity

Status:
Member
MEDIUM
Activity:
89
LOW
Merit:
10
LOW
Posts:
69
VERY LOW
Views:
3 239
LOW
Followers:
314
VERY LOW
Tweets:
1
VERY LOW
Members:
9 930
HIGH
Alexa
Rank:
1 022 971
VERY LOW
Delta:
307 509
Year commits:
875
Watchers:
51
Stars:
34
Forks:
38
Open issues:
30

Team

Verified 0%

Attention. There is a risk that unverified members are not actually members of the team

Core Developer
unverified
Pavlo Goncharenko
UI
unverified
Pavel
DApps Developer
unverified
Software Engineer
unverified
Fellow of Vermont Law School, Center for legal inn...
unverified

3 ICOs

$27 771 032

Washington
unverified
Utah
unverified
New York
unverified
California
unverified
Washington
unverified

Last News

3.18

risky+
5.0 20
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