What is NOIS

Nois Network: A Secure Randomness Solution for the Cosmos Ecosystem

Introduction

In the rapidly evolving landscape of blockchain technology, securing trustworthy and unbiased randomness is paramount. Enter Nois Network, a pioneering Layer 1 blockchain protocol tailored specifically for the Cosmos ecosystem. The project is engineered to provide secure, low-cost randomness through Inter-Blockchain Communication (IBC), an essential component for enhancing the reliability and fairness of decentralised applications (dApps). As the demand for user trust in blockchain technology continues to grow, Nois Network stands out as a beacon of innovative solutions aimed at delivering consistent randomness in a decentralised environment.

What is Nois Network?

Nois Network, denoted by the token symbol $NOIS, operates as a Proof of Stake (PoS) blockchain. Its core objective is to establish a dependable source of entropy within the Cosmos ecosystem, thereby enhancing the operational integrity of various blockchain-based applications. Through its groundbreaking design, Nois Network allows developers to access random numbers in a secure, unbiased manner at a nominal cost.

The project leverages the drand protocol, a decentralised beacon service that provides verifiable randomness. By integrating IBC, Nois Network ensures that the randomness can be interacted with across different blockchain platforms seamlessly. This unique capability makes Nois particularly valuable for a wide array of applications, including gaming, lotteries, financial systems, and even more complex processes like cryptographic operations and voting systems.

Creator of Nois Network

As of the latest available information, the specific creator or founding team behind Nois Network has not been disclosed. The anonymity of the project's origins is not uncommon in the blockchain space, where collaborative contributions often overshadow individual credit. Regardless of the lack of publicly available information on its creators, the project continues to garner interest in the blockchain community for its innovative approach and practical utility.

Investors of Nois Network

Details regarding the investors or funding foundations supporting Nois Network have not been specified. In many blockchain projects, especially within the early stages of development, investment details may remain confidential or undisclosed. Despite this uncertainty, the protocol has seen consistent engagement from developers and users alike, underscoring its potential and relevance in the blockchain ecosystem.

How Does Nois Network Work?

Nois Network incorporates a robust and innovative architecture that facilitates the secure generation of randomness to IBC-enabled chains. The process begins when a smart contract on an IBC-enabled chain sends a request to a Nois proxy contract. This contract cumulates requests and forwards them to the Nois Network.

At the heart of the system lies the interaction with the drand service, where randomness is emitted in cycles. Upon receipt of a drand beacon for the relevant round, a network of dedicated bots fetches the randomness and validates it before sending it back to the Nois Oracle contract. This layer ensures that only verified and legitimate random numbers are utilised, bolstering the integrity of the randomness provided.

The components that constitute Nois Network highlight its unique capability:

• Nois Validators: These nodes are vital for creating and validating blocks on the Nois blockchain, ensuring operational robustness and decentralisation.
• Nois Bots: Tasked with securing real-time randomness, these bots communicate with the drand network to gather the necessary information for the Nois ecosystem.
• Nois Oracle Contract: A key environment for logic implementation within Nois, it verifies the authenticity of randomness sourced from drand.
• Nois Proxy Contract: Positioned on various user chains, this contract serves as the primary interface for accessing randomness.
• IBC Relayers: These play a crucial role in relaying random data from the Nois Oracle contract to the respective Proxy contracts on different chains.

Timeline of Nois Network

The history of Nois Network, while relatively brief, reflects its ambitious roadmap and deployment milestones.

• March 28, 2023: The official launch of Nois Network marks the beginning of its journey towards establishing a secure source of randomness within the Cosmos ecosystem.

Unique Aspects of Nois Network

Nois Network distinguishes itself within the blockchain space through several innovative features:

• Integration with Drand Protocol: The utilisation of the drand protocol ensures that Nois Network delivers secure and unbiased randomness crucial for various applications.
• IBC Compatibility: This compatibility underlines the project’s ambition to offer seamless randomness generation across multiple blockchain platforms, greatly enhancing its utility.
• Smart Contract Architecture: The smart contract layer employing CosmWasm simplifies integration for developers, making it an accessible tool for a multitude of use cases.

Utility and Use Cases

The primary utility of Nois Network is its provision of decentralised and unbiased randomness, indispensable for applications such as:

• Lotteries: By delivering random numbers, it assures fairness and transparency in the drawing process.
• Financial Systems: Secure random number generation is vital for applications involving unpredictability, such as pricing volatility or risk assessments.
• Voting Processes: It can enhance the integrity of electoral systems by ensuring a fair and random selection process.
• Cybersecurity: In encryption processes, randomness is essential to maintaining security and protecting data.

The secure and reliable randomness that Nois Network offers significantly enhances user trust and experience across these applications.

Staking and Network Participation

Participants have the opportunity to engage with Nois Network by staking the $NOIS token. This process plays a crucial role in securing the network infrastructure and comes with the additional benefit of earning rewards. Users can participate in staking through various web-based tools or command-line interfaces (CLI) within the Cosmos ecosystem.

It's important to note that the unstaking process is accompanied by an unbonding period during which participants will not accrue any rewards. This mechanism encourages a long-term commitment to the network and promotes its overall stability.

Conclusion

Nois Network stands as a testament to the potential of blockchain technology to solve pressing problems within the decentralised landscape. By providing a pioneering solution for secure and unbiased randomness, it enables a plethora of applications that rely on unpredictable outcomes. With its unique architecture, promising utility, and a growing user base, Nois Network is paving the way for a more secure and fair blockchain environment within the Cosmos ecosystem. As the sector evolves, continued innovation and community engagement will be indispensable for unlocking the full potential of this trailblazing protocol.