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.
OATH Protocol introduces a new consensus mechanism, Proof of common sense. It is not used by nodes to confirm the on-chain data. Instead, it is a consensus mechanism that is used within the OATH jury community. OATH jurors only need to rely on their common sense to decide cases based on contract terms, evidence, and testimony. They do not need to be experts in any field or area. As blockchain users, they have sufficient knowledge to evaluate the evidence and determine the case outcome. OATH jury is a community of regular blockchain supporters and dApp users. Not only will they help regulate the chain or dApp they support, but they can also provide their knowledge and service to other ecosystems. They will be rewarded for using their common sense to resolve disputes.
OATH will provide extensions for multiple smart contract programming languages, allowing users to agree on dispute resolution solutions and default claims agreements when writing smart contracts or blockchain applications. OATH will also provide an infrastructure layer for dApps so that developers can directly integrate OATH protocol..
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.
The heart of the OATH protocol is our jury community. They protect the integrity of smart contracts that incorporate the OATH protocol by adjudicating any potential disputes. The OATH jury community will also serve to link news, events, and predictions between blockchains and the real world.