The Oasis Network, launched in November 2020, provides solutions for ensuring data privacy and security in the blockchain space, addressing key limitations of early systems.
The History of Oasis Network
The Oasis Network was founded by Dawn Song, a professor of Electrical Engineering and Computer Science at UC Berkeley. It is the first Layer-1 blockchain focused on privacy and data security. The main goal of the network is to tackle issues related to data leakage and the scalability of other blockchains.
Architectural Foundations: A Two-Layer System
Oasis Network features a modular architecture that separates consensus from execution: 1. **Consensus Layer**: A decentralized network of validator nodes using Proof-of-Stake (PoS). 2. **ParaTime Layer**: Hosts multiple parallel runtime environments tailored for specific use cases, allowing for parallel transaction processing.
Privacy at the Core: Confidential Computing
Oasis Network is the first blockchain to natively support confidential smart contracts using Trusted Execution Environments (TEEs). This technology enables applications with privacy features, such as confidential DeFi applications. Sapphire, the first production-ready confidential Ethereum Virtual Machine (EVM), ensures full compatibility and the possibility of developing private applications.
Oasis Network has established itself as a technical innovator, addressing the challenges of privacy and scalability. With its unique architecture and confidential computing technologies, Oasis enables the creation of applications that protect data without sacrificing performance.
