Launched in November 2020, Oasis Network is a layer-1 blockchain aimed at solving privacy and security issues prevalent in older blockchain systems.
Genesis of Oasis Network
Founded by Dawn Song, a professor of Electrical Engineering and Computer Science at UC Berkeley, Oasis Network addresses key limitations in early blockchain systems, particularly data exposure and scalability bottlenecks.
Two-Layer Architecture of the Network
Oasis Network employs a modular architecture separating consensus from execution. It operates on two layers: the consensus layer and the ParaTime layer, enabling parallel transaction processing to avoid slowdowns typical of single-layer blockchains. The network also implements a discrepancy detection system for enhanced efficiency.
Data Security and Confidentiality
Oasis Network is the first blockchain to natively support confidential smart contracts using Trusted Execution Environments (TEEs). This allows operations to occur in a setting where data remains hidden. Privacy settings can be adjusted to facilitate the development of applications across various fields.
Oasis Network shows technical innovations in privacy and scalability, creating a foundation for the growth of use cases where data protection and computational efficiency are key priorities in the blockchain ecosystem.
