System Safety & Security
GoraNetwork uses Algorand style consensus mechanism to secure the integrity of the data, and uses mathematical and statistical models to determine data quality.
Information Transparency
GoraNetwork aims to eliminate informational asymmetry in the ecosystem, so that all stakeholders know how decisions are reached, how to participate, the safeguards and risks. All parties have all information about the counterparts involved, and their actions. For example, on a blockchain, this information is public through block explorers. Our node runners are off-chain, and as such, there’s an opportunity for informational asymmetry if consumers and feed providers don’t have insight into how this group reaches consensus.
One strategy GoraNetwork will use is having the network be permissionless. Anyone can join the network, and monitor traffic. GoraNetwork will also provide a dashboard that provides up to date data on general data points within the system, such as (but not limited to):
Current number of node runners
General uptime
Current rewards APY
Total Rewards handed out
Vote results
GoraNetwork will also regularly publish token allocations, and be clear about how marketing, partnership and treasury tokens are being spent. This document (Token Design) section will go into detail on the initial allocations.
Staking to participate
GoraNetwork will also allow technical users to stake their token in order to be selected for consensus. However, anyone from the general public can delegate their tokens to node operators. The reason for allowing delegation of stake is the ensure diversity of node runners. Having such large pools of node runners (as well as a significant amount of tokens locked up for staking) makes it almost impossible to attack the system. The design of the staking allows for GoraNetwork to provide instant finality on data returned to smart contracts.
Cryptographic Security
GoraNetwork has several features to keep individuals private data, such as API keys, as well as stakes secure. These are detailed in the upcoming whitepaper. To summarize, GoraNetwork uses a combination of asymmetric encryption and zero knowledge proofs to keep private data secure. Node Runner's stake is also non-custodial. Node runner's stake would be stored in their main account, while a participation account is generated to deliver:
Privacy features - e.g. zero knowledge proofs - what privacy features are necessary in GoraNetwork, if any?
Cryptographic agility - encryption, data signing, cryptographic consensus mechanisms
Peer review white paper/auditing smart contracts - Have industry experts (e.g. Algorand) peer review our designs, etc. as well auditing smart contracts
Crypto Economic Security
As a proof of stake based consensus protocol, GoraNetwork is susceptible to sybil attacks. The economic design of GoraNetwork is intended to ensure that the token is as decentralized as possible, with tokens only being released in return for those performing platform activities, or in return for activities that grow the network. Furthermore, the use of vesting schedules and market makers ensures that an adversary that tries to attack the system by buying up the majority of tokens to stake end up spending more money than they stand to gain. To dominate and attack the network, 66% of tokens need to be bought out. In the first 2-3 years, at least 33% of stake will be by industry partners such as Algorand, making buying up the supply impossible. Furthermore, an adversary that does attempt will face an exponentially increasing . The chart below simulates the price action of the token, based on how much supply a single entity accumulates. The Gora whitepaper will go into detail on the modelling of this relationship.
Audit, Peer Reviews
GoraNetwork's routinely connects with industry leaders in economic design, cryptography, smart contracts and other fields to review its architecture and designs.
GoraNetwork also is scheduled to undergo extensive audits.
Last updated
