As far as we know, the problem of blockchain scalability has always been an interest to many people who love blockchain. The slow processing speed of transactions causes network congestion and makes it impossible to become perfect (despite the decentralization and high security). Many projects have also proposed to use new concepts such as plasma, sharding, and are developing very well. However, there is still another concept, another issue which is equally important, but less concerned - it is the oracle problem. There were also some projects that solved this problem (Augur, Chainlink, etc.) but still not perfect. If scalability helps blockchain make speed transactions faster, the oracle will make blockchain practical and useful with newer models. DOS Network is a project which can solve this oracle problem.
WHAT IS DOS? HOW DOES IT WORK?
DOS Network is a chain-agnostic layer 2 decentralized oracle network that offers realtime data feeds and verifiable computation power to mainstream blockchains. It connects on-chain smart contracts and Dapps with off-chain
data sources and unlimited computation power, enabling smart contracts with more real world using cases.
What is the architecture of DOS Network?
The architecture of DOS Network is partitioned into two layers with several key components:
- On-chain part: A set of system and governance contracts are going to be deployed on supported blockchains, mainly including functionalities such as request handling and response/computation result verification, node registration and staking, stats monitoring, payment processing, etc. On-chain system contracts also provide a universal interface to developers and user contracts on all supported chains.
- Off-chain part: A client software implementing the core protocol running by third party users (a.k.a node operators), constituting a layer 2 distributed network serving oracle requests. Client software includes several important modules: event monitoring and chain adaptor module, distributed randomness engine module, cryptography and off-chain group consensus module, request and/or computation task processing module depending on the type of oracle service the node operator provides.
ADVANTAGES OF DOS NETWORK
- Decentralized and Reliable:
A trustworthy decentralized solution without single point of failure.
- Secure and Trustworthy
Driven by Verifiable Random Engine and advanced cryptographic signatures.
- Near real-time and verifiable result:
Driven by the secure randomness engine built upon Verifiable Random Function (VRF) and advanced cryptographic primitives, the data request or computation is performed and consented off-chain but verifiable on-chain in a system contract. The delay between receiving request and delivering back response is within two blocks - the optimal one can achieve in theory.
- Scalable at a low cost:
Thanks to the group sharding and off-chain consensus, the total data query throughput and computation capacity increases as more nodes joins DOS network.
- Compatible to heterogeneous blockchains:
With core protocols operating in off-chain clients, it’s easy to support multiple public chains by adding off-chain adaptors and port on-chain governance contracts at a low overhead.
- Crypto economy:
With designed token economic models and cryptographic primitives, it’s highly incentive for node runners to join the network early to earn the “mining” rewards and rapidly grow the network capacity. The network is resistant to sybil attack, with malicious nodes to be detected and forfeited of their stake and honest nodes always to be rewarded.
OPPOTUNITY AND CHALLENGE
DOS was born after some previous rival projects, so it can surmount the disadvantages and difficulties that the oracle problem has not achieved yet in previous projects.
The problem of oracle is concerned with just few blockchain, if successful, the chances of gaining traction of DOS are huge.
DOS has a great opportunity to quickly raise funding through the IEO on Bitmax exchange. Currently, this can be considered a trend when Binance founder has achieved certain successes. And it is clear to see this better opportunity when DOS open token sale through Bitmax, the token of this exchange (BTMX) has increased 150% in just 1 day.
Another advantage, the number of tokens sold is very small (tokens in circulation), which helps the project avoid devaluation, The team can focus on technology development.
However, It's a significant challenge for DOS
First, investors are quite skeptical about start-up projects on blockchain technology. At this point, DOS seems to receive a sudden interest thanks to the tendency to raise funding on exchanges (IEO). Many investors before getting our official notification still don't know what DOS is. The team still hasn’t gained traction in this industry yet. If the token sale via Bitmax fails (Bitmax has no IEO project yet and DOS is the first project), this means the project will have difficulty developing in the future. In order to compete for investors, DOS can hardly win against other projects (solving problems) with an extremely experienced team and large capitalization on those projects.
Not releasing its whitepaper (investors must send an email to receive it) makes the project not popular with the community. Social networking sites have not been active yet, you can hardly find its work reports, investors have just been interested in it in recent times. The project has not received any investment from funds, only about 1.45 million USD in private-sale, it is difficult to maintain operations in the future.
CONCLUSION
With the quite frantic trend in community, DOS raise funding at Bitmax can bring positive results. Maybe the project will receive great attention from the community, but time is limited. Developing technology for DOS's core purpose is what the team needs to focus on. We need more effort in every aspect to help DOS gain traction in the very harsh blockchain industry, it will quickly eliminate projects not bringing good results as their targets.
More info about DOS Network:
• Website: https://dos.network
• Telegram: https://t.me/dosnetwork_en
• Medium: https://medium.com/dos-network
• Twitter: https://twitter.com/DosNetwork
About Syndicator Org:
• Website: https://syndicator.in
• Telegram: https://t.me/Syndicator_Official
• Twitter: http://twitter.com/syndicator_org