Oracles Network

An open blockchain network based on Ethereum protocol with Proof of Authority consensus by independent validators. Licensed public notaries serve as private actors to secure the network.

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Public network

Is it private or public blockchain? It's hybrid! Anyone can become a member of the network by registering an account and buying coins. It's possible to use any applications developed for Ethereum. Liquidity in the form of coins is created by validators, which are independent, unaffiliated notaries with a known identity. A doubting network participant can cross-validate a notary with the help of "proof of identity" oracles or government services.

Proof of Authority

Authorized validators or oracles, create new blocks in the unique open network with Proof of Authority consensus secured by public notaries.

No mining

Creating blocks in a PoA network does not require significant computational resources, as in other Proof of Work based blockchain.

Governance by voting

Validators are required to vote for adding or removing validators using Oracles dApp. Thus, the network supports voting at the consensus level.

Legally recognizable hard fork decisions

All validators required to sign a legal agreement with the network. Hard fork descisions are legally binded.

Model for hybrid networks

Oracles Network model can be used as a blueprint to quickly launch open on-premise networks with intristic value.

Platform for experiments

We believe that hybrid networks with POA consensus will be a trend in public blockchains in the coming years. On-demand systems with trusted validator will play an important role in creating many specialized open networks based on Ethereum's protocols. Our goal is to be a model for the generation of networks connected by intergledger protocols, such as Polkadot.