Oasis Network Goes Live
In a move that shakes up the blockchain landscape, Oasis Labs has launched the Oasis Network mainnet, which is now home to more than 70 independent validators. This layer-one network prioritizes privacy and aims to facilitate decentralized applications (dApps) with impressive throughput of 1,000 transactions per second. Talk about efficiency! Who wouldn’t want to squeeze more transactions into their day?
Heavyweight Backing for Oasis
The story of Oasis Labs isn’t just a tale of rapid development—it’s also one of significant financial backing. Back in June 2018, they raised a whopping $45 million from major players in the crypto industry like A16z, Binance Labs, Pantera, and Polychain. With such rich support, it’s no wonder Oasis is making waves!
Privacy Enhancements: The Secret Sauce
What sets the Oasis Network apart is its “confidential compute” functionality. This allows encrypted data to be processed by the network’s nodes, maintaining privacy during various operations, from checking credit history to conducting genetic research. As part of their recent announcement, Oasis Labs stated:
“The Oasis Network can support a new breed of privacy-preserving applications that respect a user’s data preferences by design…”
Empowering Users with Data Ownership
Users can earn rewards by allowing their data to be analyzed by applications that need it. Picture this: you’re earning while safeguarding your sensitive information. It’s like being paid to keep a secret!
Rethinking DeFi with Privacy Features
The Oasis Network is also optimistic about redefining loan products in the DeFi world. Traditionally, loans in DeFi systems are heavily overcollateralized, but Oasis’s privacy protocols open the door to the development of undercollateralized loans. This means that users can establish their creditworthiness without putting up mountains of collateral—finally, a move away from the medieval style of lending!
Partnerships and Future Projects
Oasis is already fostering a rich ecosystem of projects. They’re collaborating with notable industry figures such as Chainlink and Balancer. One particularly intriguing initiative includes a “privacy-first genome sequencing” project with Nebula Genomics. This partnership leverages Oasis’s data governance API, Parcel, to allow genomic data to be analyzed in isolation, effectively shielding it from the dangers of centralized database breaches.
CryptoSafe Alliance: A New Dawn for Data Security
Additionally, Oasis launched the CryptoSafe Alliance in August. This platform aims to facilitate private sharing of threat intelligence data among cryptocurrency exchanges, ensuring sensitive information stays under wraps, thanks to Oasis’s confidential smart contracts. Who needs a safety deposit box when you can just use blockchain?
