What is TheOoL?

TheOoL DAO is a super secure distributed information ecosystem that provides users with private space and the ability to transact without leaving their ‘digital footprints’ on the internet.

We provide high speed services of secure and distributed cloud computing and cloud storage at optimum prices. Resource providers and content providers are able to securely and automatically trade in computing resources and information. And our ecosystem makes private payments fast and secure.

TheOoL DAO offers decentralized web hosting services with a serverless security and content control system on its private, secure distributed cloud for data computing and storage. The ecosystem’s economics is underpinned by smart contracts executable in our decentralized payment system.

Watch Our Intro

TheOoL Mission

The mission of TheOoL DAO is to assure the rights and freedoms of online users as declared in the Universal Declaration of Human Rights, namely the right to privacy, the right to protection from prosecution on political, religious or any other grounds, and the right to access online data by way of technological elimination of any third party censorship.

Our further goal is to provide micro- and small businesses with access to the market of cloud computing and cloud storage, and guarantee that online users enjoy fair prices for cloud services based on the curves of supply and demand, as well as drastically reduce marketing and organizational costs within the cloud services industry.

Our Eco-Friendly Solution

Mining in current blockchain networks requires huge amounts of energy. According to a Cambridge University study the Bitcoin network alone consumes 97 terawatt per year. This is comparable with the annual consumption of electricity by the Netherlands. Experts find it hard to accurately estimate the rate of emissions created as a result of this energy generation. But they agree on one thing: Mining causes extensive damage to the environment. Especially considering that a substantial share of mining capacity is located in China where electric power is predominantly generated by coal-fired power plants.

Unlike other public blockchains TheOoL network consensus does not require any additional expenditures and energy resources. TheOoL supports PoW consensus algorithm but its hash code is computed by way of ‘useful work’ directly linked with transactions within the network.

Each transaction within TheOoL network is a smart contract with several counterparties: Storage/compute server owners, content owners, and content followers. And each of them generates their own unique transaction identifier. The smart contracts are also intended for non-reciprocal transactions. These identifiers are conveyed to all process actors and serve a hash code that is normally computed as a result of mining in other PoW networks. The codes thus generated are subsequently used for signing of a block in TheOoL blockchain, provided they satisfy conditions of the algorithm (let’s call them ‘useful codes’).

This approach allows to exclude conventional mining and, correspondingly, the energy consumed by such mining.

Moreover, TheOoL network effectively eliminates the possibility of the infamous 51% attack. This is because useful code computation is only performed when useful work is performed, and the network hash rate is defined by the number of transactions, not equipment capacity. Most importantly: Each hash code computed by the network user corresponds to at least one hash code computed by another user of the network. The probability that the hash code turns out to be useful is exactly the same for everyone, i.e. the hash rate is always identically distributed across multitudes of users of the network.