Oasis Network is a layer-1 blockchain protocol using a modular architecture that differentiates the foundational Consensus layer and the myriad possible computational runtimes – the ParaTime layers. Currently, three ParaTimes (with room for more) are in operation – the EVM-compatible Emerald, the confidential WASM-compatible Cipher, and the latest confidential EVM-compatible Sapphire. With proof-of-work as the basis, Oasis uses Tendermint as its BFT consensus protocol. Moreover, with NFTs, DeFi, and DAOs as primary use cases of its privacy and confidentiality features and functionalities, the USP of Oasis is how it employs privacy-preserving techniques like trusted execution environments. Aware of the pros and cons of other methods like ZKP, FHE, SMPC, etc, and the shortcomings of TEEs themselves, Oasis employs a unique defense-in-depth approach to protecting confidentiality and mitigating any potential vulnerabilities thereby preventing data breaches.
Therefore, with a consensus mechanism that puts focus on validation via proof of stake, a strong tokenomics for its native token $ROSE, a confidential computation methodology that takes care of the privacy of users in terms of data and transactional security, and a vision for the future where its capabilities can be used to transform AI into a responsible force for good, Oasis grows from strength to strength. Explore the world of this privacy-enabled and scalable ecosystem as it continues to propel web3 forward by building a responsible data economy and working to make the privacy-first vision a reality.
Incredibly bullish. This doesn’t even go into the data sovereignty or AI training aspect of the use-case. On-chain confidentiality is something most people are sleeping on, yet is one of the biggest game-changers to ever hit web3.
The integration of trusted execution environments and the modular architecture certainly sets it apart. I’m also intrigued by its vision to transform AI into a responsible force for good. It’s fantastic to see projects like Oasis driving the growth of web3 and building a responsible data economy.
Oasis also announced their oasis safe recently which looks really promising