Launched in 2020, Oasis Network aims to enhance data privacy in blockchain technology. Its inception marked a new era in data security and privacy.
The Genesis and Growth of Oasis Network
The Oasis Network emerged in November 2020 as a Layer-1 blockchain focused on privacy. Founded by UC Berkeley professor Dawn Song, the project addresses key challenges of early blockchains like data exposure and scalability issues. Built using the Cosmos SDK, Oasis Network enables interoperability with the broader Cosmos ecosystem through the Inter-Blockchain Communication (IBC) protocol. The token name 'ROSE' signifies confidentiality, recalling the Latin phrase 'sub rosa.'
Architectural Foundations: A Two-Layer System in Oasis
Oasis Network's architecture is notable for its modularity, organised into two layers: The Consensus Layer, where Proof-of-Stake validator nodes ensure network security and transaction validation; and the ParaTime Layer, which hosts separate runtime environments tailored to specific use cases, such as private DeFi applications or gaming projects. This arrangement allows for parallel transaction processing, enhancing scalability and reducing bottlenecks typical of single-architecture networks like Ethereum.
Privacy at the Core: Confidential Computing
Oasis Network is the first blockchain to support confidential smart contracts, utilizing Trusted Execution Environments (TEEs). These secure zones allow data processing without exposing the content to the network but remain verifiable. Innovations such as Oasis Sapphire — the world's first confidential EVM — lead to the concept of 'Smart Privacy.' This technology empowers unique applications like private DeFi, key management, and trusted gaming platforms.
Oasis Network has become a crucial player in the era of new demands for data confidentiality and protection against breaches. With its innovative approach to security, the network provides a foundation for creating applications where data privacy becomes the norm.
