INTRODUCTION
Have you ever enter into an unending dispute with a friend or relative. it could be costly. it could deter the relationship. the friendship. ever got involved in disputes where both parties refused to accept the outcome. The outcome could end trust toward each other. it might affect the believe and confidence build toward both parties. The Blockchain provides us a liable and useful mechanism for reaching consensus. it provides us a platform to resolve so many problems. even disputes. Blockchain brings to the world a promising decentralized internet, new ideas, and business opportunities. the blockchain offers us so many solutions to problems facing our current world. both financial, weather, technology and many more.
OATH PROTOCOL
OATH is a blockchain-based alternative dispute resolution protocol. a blockchain governance system that provides an effective warranty for smart contracts. If one side is dissatisfied with an outcome, resulting in a dispute, there will be a decentralized third party with no conflict of interest to resolve the dispute. The availability of a dispute resolution mechanism improves the reliability of smart contracts and provides a dependable protection mechanism for blockchain users. It is an infrastructure layer between chains and dApps. By using a decentralized juror community with a complete new consensus mechanism, Proof of Common sense, OATH provides a robust, fair, transparent, and extensible dispute resolution protocol.
The oath project claims that they can provide verification of real-world information, which is presently a big issue for blockchain. when issues are hard to resolve, oath can provides verification means to provide a resolution to the dispute.
As a standard protocol, any dApp that utilizes OATH may request any kind of real-world information from our jury community, our jurors will provide information, and the rest of the jury community will vote to verify the information’s authenticity and accuracy.
SOLUTION OFFERED BY OATH:
whenever there is a dispute involving users, they can use dapps intergrated on the Oath protocol blockchain to provide solutions. at the same time, OATH will also provide a smart contract construction interface that will greatly reduce
barriers to using smart contracts by providing common contract templates, OATH will improve the usability of smart contracts in a variety of scenarios.
The templates will include many typical applications and scenarios, such as e-commerce, copyright protection, OTC transactions, and others. OATH protocol will be built into the template and include a dispute resolution plan, compensation agreement, and other related fields. All smart contracts written through the OATH smart contract interface are automatically secured by the OATH protocol.
DISPUTE RESOLUTION MECHANISM
Borrowing the Jury court system of disputes, a judge presiding over the proceedings and resolves questions of law and procedural issues.at the end, he hands the case over the jury for decision based on the evidence presented in court, which side prevails and returns a verdict the Oath protocol utilizes blockchain, cryptographic algorithms, random algorithms associated with categories and attributes, credit level, and case-tracking technology. OATH jurors, from different backgrounds and variant professions, guarantee to provide resolution of contract disputes by contents, evidence, testimonies and debates. the project promises to keep Identities of the OATH jurors are kept strictly confidential and encrypted to make sure that their decisions are objective and free from external influence. Jurors will provide information relating to their relevant categories like age, gender, nationality, occupation, and educational level.
ADVANTAGES OFFERED BY OATH
BLOCKCHAIN SECURITY
QUICK AND EFFICIENT
JUSTICE AND FAIRNESS
MANAGEABLE COST
EFFECTIVE EXECUTION
TOKENISATION AND DISTRIBUTION:
OATH platform will issue 10 billion (10,000,000,000) ERC-20 tokens (OATH) to facilitate all transactions that take place on the OATH platform, mainly as awards for resolving disputes, mining nodes, and community maintenance and management.
OATH can be earned by community members for acting as nodes, arbitraging contracts, or providing other community services. Jurors will be rewarded with OATH tokens for participating in dispute resolutions. In each case, the jurors who correctly vote for the prevailing party will be rewarded according to the “Case award formula.” Jurors may also get rewarded for inviting more jurors and maintaining and governing the Juror community by reviewing new juror applications, setting categories for new jurors, reviewing finished cases and providing feedback for jurors, and so on.
To utilize the OATH protocol, users will have to pay a certain amount of OATH Token as the operating cost of the platform, which will vary with the number of outstanding cases and the liquidity of OATH tokens.
For More Informations about OATH PROTOCOL:
website: https://oathprotocol.com/en/
whitepaper ;https://oaths.io/files/OATH-Whitepaper-EN.pdf
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