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.
Creating blocks in a PoA network does not require significant computational resources, as in other open networks.
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.
The network supports broad range of "proof of identity" distributed apps and integrates them to proof identity of validators.
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.
Igor is a pioneer in the intersection of legal technologies and blockchain. His ideas expands the applications of distributed ledgers technologies.
Fellow of Vermont Law School, Center for legalinnovation