Executive Summary
Ola is a Layer 2 (L2) blockchain that uses zkEVM technology to provide a secure and private network. The actual owners of the data are given the liberty of how much and with whom the data will be shared. This ensures the original owner has complete control of their data and reveals no information to third parties. Keeping privacy at its core, it also offers a more secure and scalable platform for other developers to come and build upon.
Company/Project Overview
The previous Web3 projects have worked on decentralization without caring about the need for privacy. Ola intends to change that. They provide optional viewing mechanics to the users without worrying about any third person spying on them. Ola’s architecture(zkVm) provides users with much faster execution of transactions, allowing the network to scale owing to its ZK execution. The Ola architecture optimizes the system’s performance, ensuring users enjoy a seamless experience without delays. By leveraging the cutting-edge technology of ZK and advanced algorithms, Ola can provide a secure and reliable platform for users to transact and interact with each other. OlaVm supports two Smart Contract languages- Solidity and its native language Ola Lang.
The team behind OlaVm is well-experienced in this domain and has worked with big corporations like Huwai, ZKspace, Accenture, etc.
Ola Market Analysis
With current and future trends, blockchain will revolutionize in the coming decades. Overall, Ola aims to provide a secure, scalable, and privacy-centric platform for DApps. Its general-purpose capabilities and privacy for Smart contracts and developer tools give it a competitive edge. Recently, the market has witnessed rapid growth in privacy and scalability solutions, and Ola is well-positioned to take advantage of this trend. Ola wants to create a scalable ecosystem with privacy as its center point. Their target audience is developers who wish for privacy.
Product/Platform
Architecture- Ola provides an architecture where developers can come and build their applications leveraging the features of scalability and privacy. With ZKVM, the Ola infrastructure offers faster transactions with minimum execution trace. The users have full command of the visibility of their transactions.
Ola Lang- Ola-lang is a custom Smart contract language with a user-friendly syntax and more zk-friendly features. OlaVm easier to achieve compatibility with other advanced programming languages and is based on the LLVM compilation framework. Ola-lang is a developer-friendly language that offers immensely beneficial tools that make it simpler for developers to build.
The transparent nature of many blockchains brings along vulnerabilities like front-running and censorship attacks. OlaVm using its ZKVM technology, is providing a scalable solution. All the transactions of the users are shielded, protecting the users’ valuable data and covering the vulnerabilities.
Business Model
Ola plans to generate revenues in the following ways-
Partners/Projects- The parties interested in building using Ola will accrue some payment to OlaVm.
Nodes as a Service (NaaS)- The nodes helping the network will earn some of the fees collected from the users. This may be linked to the Ola Foundation.
Token issuance- The project will launch its token in the future, raising funds for them.
Tokenomics
Ola plans to launch its token in the future. The token will be used in running the platform.
Risk Assessment
Many L2 protocols in the market have raised money and are competitors with Ola. Blockchains are still unregulated, and some regulations introduced by the Authorities could pose problems. Given that Ola offers a private network, it could be subject to more scrutiny or guidelines by the Authorities.
Conclusion
Ola wants to stick to the core of Web3 world by making the users the actual owners of their data. Its unique technology makes significant value addition for the parties using it. It provides users with an easy and efficient system that solves the problems of privacy, censorship, and front-end running. This unique set of properties, combined with its latest tech and seamless experience, makes Ola an attractive project.
