CRYPTOKID: OATH: DISPUTE REVOLUTION PROTOCOL

ABOUT OATH PROTOCOL

OATH is a blockchain-based alternative dispute resolution protocol. 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.

OATH serves as 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. OATH acts as an insurance protocol for dApp users, protecting them from undesirable counterparty behavior. Once the OATH protocol is initiated, OATH jury community will vote on the verdict to resolve the dispute. OATH protocol will greatly improve users’ credibility and ensure that all contracts are guaranteed by an objective system and that, in case of a dispute, the parties have an unbiased, objective jury handling it.

OATH can also provide verification of real-world information, which is presently a big issue for blockchain. 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.

HOW ADVANCE IS THE PROJECT?

The OATH report contains comprehensive data about the project, and therefore an electronic device provides an additional summary summarized. The team continues to develop its Intermediate page with in-depth updates and articles. it’s already undeniable ability to effectively attract partners and investors to the platform.

NEM is one of all their partners who will use the Oath Protocol because of the default dispute resolution protocol on the platform. At present, NEM is one of the twenty leading cryptocurrency measured by capitalization. Recognized monetary media stores such as Yahoo Finance and newsbtc.com issued many spectacular high-level press coverage of the Oath Protocol. The most valuable oath player is predicted to be launched at the end of 2018, ahead of schedule.

PRODUCT

From a technical perspective OATH provides extensions to existing smart contract programming languages and an infrastructure layer for decentralized applications. Developers will be able to integrate OATH as the platform that will resolve disputes in case that contract parties disagree.

The potential use cases of the OATH protocol include over the counter cryptocurrency trading, e-commerce dispute resolution, blockchain powered insurance solutions, liability determination for blockchain based rental agreements, content management for decentralized content platforms and social networks, determination of outcomes for oracle platforms and public blockchain governance.

CORE CONCEPT

Use of Smart Contract

Easy and reasonable contract tools can greatly reduce barriers to exploiting reasonable contracts. in addition, the OATH protocol will be engineered into a reasonable contract to protect user rights and assets.

Decentralization ≠ Anarchy

A decentralized system must be governed by a decentralized community. OATH provides a typical blockchain governance protocol by organizing a decentralized jury community, consisting of members with various backgrounds and fields of experience, to resolve disputes or arguments about the blockchain.

Consensus is A Real Law

While it is true that “code is law,” code will only die by principles programmed into the code, and cannot solve any problem outside of this parameter.

The consensus is that actual legislation is the result of agreement solely among all users able to break down all types of problems.

Communities

SHARED DApp users are given incentives to make healthy schemes. OATH invites users from completely different communities to not only provide governance for the dApp they support, but also for alternative ecosystems. In this way, we will grow a large community together.

OATH PROTOCOL ADVANTAGES

The protocol’s main advantages include:

Trust – all data is hashed on a blockchain.
Confidentiality – all jury members data of confidential.
Dynamicity – protocol will ensure that different jurors will be resolving multiple cases to avoid a collision and ensure the integrity.
Fairness – protocol will ensure random jurors selection based on a variety of factors as gender, background, age, etc. to have full objectivity.
Incentive – a mechanism to motivate jurors for participating and assign them credit.
Autonomy – parties mutually set rules that they would be bound by.
Transparency – jury votes are disclosed to the community after resolution.
Archive – protocol allows keeping all data in a structured irrecoverable way.