Oasis Network announced the launch of Mainnet Beta and Second State’s ParaTime compatible with Ethereum Virtual Machine (EVM) on Oasis Network
Oasis Network announced the launch of the mainnet Beta-this is the last major milestone before the launch of the mainnet and the most powerful and privacy-protected blockchain network to establish a responsible data economy. Mainnet Beta is the first stage of launching the mainnet network. It includes the finalized founding documents of the mainnet and several features when the mainnet is launched, but the token transfer will be disabled when the network is started. (You can read more about the technical features of the mainnet Beta here ).
“The Oasis network continues to pave the way for a privacy-centric approach to support developers, exchanges and institutions.”-Konstantin Richter, CEO of Blockdaemon
The new era of blockchain
At the Oasis Foundation, we have full trust in building a new type of responsible data economy. Here users can control and tokenize their data-track the use of data by applications and companies, and get a fair return. To achieve this, we need a new platform with strong encryption primitives, such as decentralization, private computing, and scalability.
To help us realize this vision, we worked closely with a community of researchers, engineers, and privacy experts to build the Oasis network. The Oasis network is designed for the next-generation blockchain and is the first blockchain platform with privacy protection functions for open finance and responsible data economy.
Combining its high throughput and security architecture, the Oasis network can power private, scalable decentralized finance-extending it beyond traders and early adopters to the mass market. For the first time, real-world identities can be linked to on-chain finance, opening up new use cases, such as under-collateralized loans, dark pools that provide privacy protection, automated market makers, stable coins, oracles, payments, etc.
Its unique privacy protection features can not only redefine decentralized finance, but also create a new type of digital asset called tokenized data, which allows users to control the data they generate, and because of the use of applications to use data Stake to win rewards.
“With its privacy protection and scalability features, the Oasis network is very suitable to power the next generation of blockchain applications and lead a new type of responsible data economy.”-Dan Boneh
The powerful design of Oasis network with privacy protection function has been put into use. Here are some examples of projects developed on the web:
Nebula gene
Nebula Gene hopes to differentiate its products from other competitors by giving its users control over their genetic data. Using Oasis’ framework, customers can retain ownership of their genetic data, and Nebula Gene can run analysis on the data without seeing the customer’s original information. You can read more here .
Binance CryptoSafe Alliance
Crypto thefts and attacks are increasing day by day, and exchanges need a platform to find and ban malicious elements. The CryptoSafe platform was developed by Oasis Labs and Binance to allow exchanges to share threat intelligence data. Because of the Oasis network’s support for confidential computing, exchange data can be kept confidential even when compared. You can read more here .
Top 500 healthcare providers
A Fortune 500 healthcare provider wanted to share data with external parties while retaining control of data and protecting the confidentiality of patient data. Using APIs built by Oasis Labs, this industry-leading healthcare company can track, trace and control data usage even when sharing data with third parties.
ParaTime architecture
Through an innovative architecture called ParaTime architecture, the Oasis network is able to support these new blockchain use cases. This architecture separates computing and consensus, computing enters the ParaTime layer and consensus enters the consensus layer. The consensus layer is a scalable, high-throughput, proof-of-stake consensus run by a decentralized set of validator nodes.
ParaTime is a parallel smart contract layer that can be customized to meet the needs of specific use cases. Anyone can create their own ParaTime, allowing the Oasis network to support a rich application ecosystem-which makes the Oasis network unparalleled in terms of versatility, applicability and scalability. You can learn more about the technology behind the Oasis network and its use cases in our introductory document .
Here are a few examples of ParaTime types that are already under development on the Oasis network:
Backward compatibility with Ethereum
With the new Oasis-Ethereum ParaTime from Second State, which is compatible with the Ethereum Virtual Machine (EVM), the Oasis network supports all Ethereum-based decentralized applications. ParaTime developed by Second State provides an easy-to-use development environment for smart contracts written in Solidity, YUL, Vyper, Rust and other popular blockchain programming languages.
With nearly 10 times the throughput and 6-second confirmation time, Oasis Ethereum ParaTime is not only fully backward compatible with Ethereum, but also has much optimized performance. And its transaction fee is less than 1% of Ethereum. The existing Ethereum smart contracts and decentralized applications including decentralized finance (DeFi) and DEX applications can be used on the Oasis network with very little cost. Run on. Second State is working hard to support confidential smart contracts on its Oasis Ethereum ParaTime in the near future.
Oasis-Ethereum Community Cup is about to start
Second State and Oasis Foundation will hold a competition where you can win rewards for building decentralized applications and completing tasks on Oasis Ethereum ParaTime. Developers will be able to test Second State’s web-based development environment, deploy smart contracts, and build user interfaces for their decentralized applications. Rewards will be given for completing various tasks, transplanting popular Ethereum decentralized applications, and creating innovative new decentralized finance (DeFi) decentralized applications. The competition will start on Monday, October 12. If you are interested in participating, please fill out this form . You can also join our Telegram group and follow us on Twitter for the latest updates.
“So far, many blockchain use cases have been hampered by the lack of privacy protection on the existing network. Oasis is one of the first decentralized platforms to solve this problem by helping users maintain control of their data.” — —Brian Crain of Chorus One said.
Data Tokenization ParaTime
Oasis Labs is working hard to develop ParaTime, which aims to support privacy-protected applications and data tokenization. ParaTime is based on the open source Oasis ETH/WASI ParaTime . It supports TEE (Trusted Execution Environment). TEE helps data to be protected during use and ensures that the original data will not be leaked or abused.
The application can be integrated with Oasis Labs ParaTime through a JavaScript package called Parcel. Parcel makes the process of building a product where user privacy is paramount easily and quickly. Parcel is a set of data management APIs with user privacy as the top priority. It aims to give customers better control and supervision over the way their data is used. If you are interested in using Parcel in your application, please visit our website and sign up for the Alpha program.
The road to the mainnet
With the coming of the mainnet, we are excited to have more interactions with the community to help promote the development of a privacy-protected blockchain designed for open finance and data tokenization. The Oasis network has a prosperous and fast-growing ecosystem, which is composed of industry-leading application developers, blockchain infrastructure teams, node operators, universities, etc. We are honored to highlight some of our major partners and community members in the chart below:
