Oasis Network was launched in November 2020 as a layer-1 blockchain focused on privacy and security. Built on the Cosmos SDK, it offers innovative solutions to address limitations present in early blockchain systems.
The Genesis of Oasis Network
Oasis Network emerged as a project by Dawn Song, a professor of Electrical Engineering and Computer Science at UC Berkeley. The primary goal of the project is to solve issues related to data exposure and scalability in blockchain systems. The token's name, "ROSE", symbolizes the concept of confidentiality, expressed by the Latin phrase "sub rosa", meaning "in secret".
Two-Layer Architecture of the Network
Oasis Network utilizes a two-layer architecture composed of:
1. Consensus Layer: a decentralized network of validators using Proof-of-Stake to secure the network.
2. ParaTime Layer: which hosts multiple parallel runtime environments, allowing for parallel transaction processing. This solution achieves high scalability and improves overall processing efficiency.
Privacy and Technology Applications
Oasis Network implements confidential smart contracts through Trusted Execution Environments (TEEs). This allows for the creation of applications such as private DeFi platforms, where user data remains hidden during processing. The Sapphire technology represents a confidential version of the Ethereum Virtual Machine (EVM), offering developers control over the privacy level of their applications. Furthermore, Oasis supports privacy integration for existing EVM applications, creating conditions for ecosystem expansion.
In a climate of increasing data breach threats, Oasis Network has established itself as a technical innovator ensuring privacy and scalability for applications. With its unique architecture and focus on confidentiality, the project lays the groundwork for innovative advancements in the blockchain ecosystem.
