# About OAK Network 

**Published by:** [StraiK2260](https://paragraph.com/@straik2260/)
**Published on:** 2023-08-31
**URL:** https://paragraph.com/@straik2260/about-oak-network

## Content

OAK Network - designed to automate payments and decentralised finance. It is built on Polkadot and uses an event-driven execution model. This means that transactions can be triggered in response to various events such as time, price or state changes of a smart contract.OAK Network can be used to automate various tasks such as:Creating payment streams such as regular subscription payments or payroll.Placing centralised and decentralised limit and stop loss orders.Creating complex contracts that are executed automatically according to certain conditions.OAK Network has a number of advantages over other automation systems such as:Decentralised: the OAK Network is a decentralised blockchain, which means it is not influenced by a single party.Security: OAK Network uses advanced security technologies such as encryption and PoS consensus.Scalability: OAK Network can scale as the number of users grows.OAK Network is still under development but has the potential to revolutionise the way payments and decentralised finance are automated. Here are some concrete examples of how the OAK Network can be used:A company can use OAK Network to automate employee payroll.An investor can use OAK Network to place limit and stop-loss orders on a cryptocurrency exchange.A business can use OAK Network to create complex contracts that are automatically executed according to certain conditions, such as changes in the price of goods or services.OAK Network is a new and innovative project that has the potential to change the way payments and decentralised finance are automated. Follow the project here: Twitter | Discord | Website | Medium

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