USABILITY OF SMART CONTRACT
A user-friendly smart contract tool will greatly reduce barriers to using smart contracts. In addition, OATH protocol will be built into those smart contracts to protect users’ rights and assets.
DECENTRALIZED ≠ ANARCHY
A decentralized ecosystem should be governed by a decentralized community. OATH provides a standard blockchain governance protocol by organizing a decentralized jury community, comprised of members with diverse backgrounds and areas of expertise, to resolve disputes or arguments on blockchain.
CONSENSUS IS THE REAL LAW
While it is true that “code is law,” code can only be executed by the rules that are programmed into the code, and it can’t resolve any matters outside of those parameters.
Consensus is the real law because only consensus among all users is capable of resolving all kinds of matters.
SHARED COMMUNITY
DApp users are incentivized to build a healthy ecosystem. OATH invites users from different communities to not only provide governance for the dApp they support, but also for other ecosystems. This way, we can grow a large shared community.
Why OATH?
Blockchain Security should have two different layers: Technology and Governance. So far, we have only focused on information technology security, like ‘anti-hacking’ or ‘code review.’ But Blockchain Governance is just as (if not more) important because every user needs it from time to time. OATH Protocol encourages users from different communities to join us and becomes part of our OATH Jury to help with chain governance and dApp dispute resolution.
TRUST
All key data, such as the contract and relevant evidence, is hashed into the blockchain to establish a permanent, immutable record.
CONFIDENTIALITY
The jury members’ identities are kept confidential through cryptographic techniques to ensure objectivity and immunity from external influence.
DYNAMICITY
OATH’s dynamic allocation algorithm reduces the odds of the same jury members resolving multiple disputes to avoid collusion.
FAIRNESS
OATH’s categorized random algorithm, designed for reducing bias, selects jurors with diverse backgrounds to ensure fairness.
INCENTIVE
OATH’s credit level system and token mechanism work together to evaluate and motivate the jurors.
AUTONOMY
Both parties to the contract may set the details of the dispute resolution process they agree to be bound by.
TRANSPARENCY
Once the dispute is resolved, the jury’s votes and stated reasons therefor are disclosed to the community.
ARCHIVE
The contracts and dispute resolution results are encrypted and saved on the OATH Chain for future reference.
