10 Things You Need to Know About The Oasis Network

The Oasis Network also has the largest University Program of any Layer-1 blockchain with over 25 top university departments, blockchain clubs, and others across 5 continents.

10 Things You Need To Know About The Oasis Network_65b96d595b747.webp

1. What is the Oasis Network?

The Oasis Network is a Layer 1, proof-of-stake, decentralized network.

The Oasis Network is the first privacy-enabled blockchain platform for open finance and a responsible data economy. Combined with its high throughput and secure architecture, the Oasis Network is able to power private, scalable DeFi, revolutionizing Open Finance and expanding it beyond traders and early adopters to a mass market.

2. Who is working on the Oasis Network?

The Oasis team made up of researchers, security experts, and privacy advocates — all working together to build a platform for a responsible data economy. The team includes talent from around the world with backgrounds from Apple, Google, Amazon, Goldman Sachs, UC Berkeley, Carnegie Mellon, Stanford, Harvard and much more.

Founded by Dawn Song in 2018, Dawn is an distinguished researcher in the areas of software, networking, distributed systems, applied cryptography, blockchains, smart contracts, and machine learning.

Dawn is a respected thought leader in computer security and is credited for the following achievements:

  1. AMiner Award — for being the most cited scholar in computer security;
  2. Amazon Web Services Machine Learning Research Awards — for her work in ‘Protecting the Public Against AI-Generated Fakes’;
  3. Numerous awards, including a Sloan Fellowship, an NSF CAREER Award, the IBM Faculty Award, a Guggenheim fellowship, and a MacArthur Foundation Fellowship;
  4. A serial entrepreneur with senior roles at high growth security firms including Ensighta Security (acquired by FireEye Inc.) and Menlo Security.

3. Who is involved in the Oasis Network?

The Oasis Network is backed by respected VC firms and investors including Andreessen Horowitz, Accel, Binance and many others.

The Oasis Network has a thriving and rapidly growing ecosystem consisting of industry-leading app developers, blockchain infrastructure teams, node operators, universities, and more.

10 things you need to know about the oasis network 65b96d595ec06

Oasis Network Ecosystem

The Oasis Network also has the largest University Program of any Layer-1 blockchain with over 25 top university departments, blockchain clubs, and others across 5 continents.

4. What makes the Oasis Protocol unique?

The Oasis Foundation’s vision is to create a responsible data society. At its core is the concept of using a blend of advanced distributed ledger technologies to give human beings much more control over their own data. These technologies combine two foundational elements: the public and easily shareable nature of tokenized data (whitepaper), with secure computing environments. The end result is the capability to produce a new form of cryptodata.

With its unique ability to keep data confidential and private, the Oasis Network can unlock new use-cases like under-collateralized loans, private dark pools, private automatic market makers, private stablecoins, private oracles, private payments, private and more.

Its unique privacy features can not only redefine DeFi, but also create a new type of digital asset called Tokenized Data that can enable users to take control of the data they generate and earn rewards for staking it with applications.

Separating consensus from Compute allows the Network to be very fast since many parallel execution environments (we call these ParaTimes) can submit transactions to the Consensus Layer simultaneously. Having two distinct layers also allows ParaTimes to be easily customized depending on the computation needs of particular use cases for the network. This means larger more complex workloads can be processed in parallel to smaller, faster transactions without slowing down the entire network.

Find out more about the technology powering Oasis Network in the whitepaper.

5. Where has the Oasis Network technology been applied?

The Oasis Network’s powerful, privacy-enabled design is already being put to use to solve the issues of value creation in Web 2.0.

Here are just a few example of projects being developed on the network:

  • Nebula Genomics: Using Oasis’ framework, user can retain ownership of their genomic data and Nebula Genomics can run analysis on the data without seeing the customer’s raw information.
  • Binance CryptoSafe Alliance: Developed by Oasis Labs and Binance, the CryptoSafe Platform allows exchanges to share threat intelligence data. With the Oasis Network’s support for confidential compute, exchange data is kept confidential even while it’s being compared.
  • BMW: Oasis Labs is working with the BMW Group to test applications of differential privacy in their internal systems. All accesses can be persisted on a ledger to enable consent-based audit, and all access policies can be checked with high integrity by the Oasis Labs platform prior to running queries and returning results.
  • Fortune 500 Healthcare Provider: A Fortune 500 healthcare provider wanted to share data with external parties while retaining control of the data and protecting the confidentiality of patient data. Using an Oasis Labs-built API this leading healthcare company is able to track, trace, and control data usage even when shared with 3rd parties. Stay tuned for more information!

10 things you need to know about the oasis network 65b96d5967cb9

6. How does the Oasis Network compare with projects of a similar kind?

The biggest competitor for the Oasis Network is the web. The Oasis Network provides primitives such as data ownership, immutability, and confidentiality, that the current web just cannot provide — making the Oasis Network a preferred solution for the next generation of digital apps and services that respect user privacy.”

7. What is the relationship between Oasis Labs and the Oasis Foundation?

Oasis Labs is the core developer for the Oasis Network.

8. What is, “who is”, “how is” the Rose Token?

The ROSE token is used for transaction fees, staking, and delegation at the Consensus Layer.

Supply: The ROSE native token is a capped supply token. The circulating supply at launch will be approximately 1.5 billion tokens, and the total cap is fixed at 10 billion tokens.

Staking rewards: ~2.3 billion tokens will be automatically paid out as staking rewards to stakers and delegators for securing the network over time.

Find out more about the Rose token metrics and distribution here.

Related: Uniswap Foundation will Share Fees with Users

9. What stage of development is the Oasis Network in?

  • Nov 2019 — Public Testnet
  • Jun 2020 — Amber Network
  • Oct 2020 — Mainet (Beta)
  • Nov 2020 — Mainet (Production)

The development of the Oasis Network is driven by the community. Keep up to date with the latest roadmap updates and discussions here.

10. Where can I keep up to date with the Oasis latest news?

Keep up to date with all the latest updates here:

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