Nois

Technical Framework

The Nois protocol operates through a sequence of orchestrated interactions involving smart contracts on IBC-enabled chains and a network of bots on the Nois Network. These steps culminate in the generation and verification of randomness, which is then made available to the requesting decentralized applications (dApps)​. Drand protocol serves as the bedrock of Nois’s randomness generation, ensuring the randomness is secure, unbiased, and unpredictable​​.

Randomness Generation and Verification

The process commences with a contract on an IBC-enabled chain sending a message to a Nois proxy contract. The proxy contract then relays an IBC message to its counterpart on the Nois Network, cueing the job in a queue. Upon the release of the drand beacon for the correct round, a network of bots dispatches it to the Nois Network for verification, which, upon successful verification, processes the pending jobs and sends the beacon back to the proxy contract​​.

Utility and Use Cases

Nois’s core utility lies in its provision of decentralized unbiased randomness, which is indispensable in a myriad of applications like lotteries, financial systems, voting processes, cybersecurity, and encryption. By offering a secure and reliable source of randomness, Nois bolsters the fairness and security of these applications, thereby enhancing user trust and experience​​.

Staking and Network Participation

Participants can stake $NOIS to secure the network and earn rewards, with the staking process facilitated through various web tools or CLI tools within the Cosmos ecosystem. Unstaking $NOIS entails an unbonding period during which no rewards are distributed​​.