TopDao X Oasis Interview Recap
TopDao just interviewed Vic from Oasis Network yesterday, here is a quick recap of the interview!
Carter: Hi Vic, before we start, can you briefly introduce Oasis and your team members?
Vic: Of course. Designed for the next generation of blockchain, 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. 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 — creating the first ever responsible data economy.
The Oasis team is made up of top talent from around the world with backgrounds from Apple, Google, Amazon, Goldman Sachs, UC Berkeley, Carnegie Mellon, Stanford, Harvard and more — all committed to growing and expanding the impact of the Oasis Network.
Carter: Thanks for your introduction. As the leading project on the track of the blockchain privacy computing, what advantages does Oasis have?
Vic:
First Privacy-Enabled Blockchain: The Oasis Network is the world’s first scalable, privacy-enabled blockchain. ParaTimes on the Oasis Network can leverage confidential computing technology such as secure enclaves to keep data confidential — unlocking new use cases and applications for blockchain.
Scalable, Private DeFi: The Oasis Network’s privacy-first design can expand DeFi beyond traders and early adopters — unlocking a new mainstream market. Plus its innovative scalability design brings fast speeds and high-throughput to DeFi transactions.
First to Enable Data Tokenization: The Oasis Network can Tokenize Data, unlocking game changing use cases for blockchain, and an entirely new ecosystem of apps and projects on the network — powering the next generation of privacy-first applications.
Rapidly Growing Community: The Oasis Network has a thriving community of close to a thousand node operators, developers, enterprise partners, ambassadors, and nearly ten thousand community members engaged in global social channels.
We also have many advantages in technology
Technology Highlights
- Separates consensus and execution into two layers — the Consensus Layer and The ParaTime Layer — for better scalability and increased versatility.
- Separation of consensus and execution allows multiple ParaTimes to process transactions in parallel, meaning complex workloads processed on one ParaTime won’t slow down faster, simpler transactions on another.
- The ParaTime Layer is entirely decentralized, allowing anyone to develop and build their own ParaTime. Each ParaTime can be developed in isolation to meet the needs of a specific application, such as confidential compute, open or closed committees, and more.
- The network’s sophisticated discrepancy detection makes Oasis more efficient than sharding and parachains — requiring a smaller replication factor for the same level of security.
- The network has broad support for confidential computing technology. The Oasis Eth/WASI Runtime is an open source example of a confidential ParaTime that uses secure enclaves to keep data private while being processed.
Carter: We all know that technical background is very important for a project. Vic, would you please introduce the advantages of Oasis in terms of technology for our community?
Vic:
1.Scalability
The Oasis Network’s impressive scalability is achieved through a cutting-edge set of features that provide faster transaction speeds and higher throughput than other networks. The top-tier performance of the network is largely due to its separation of compute and consensus operations into the Consensus Layer and ParaTime Layer. This separation allows multiple ParaTimes to process transactions in parallel, meaning complex workloads processed on one ParaTime won’t slow down faster, simpler transactions on another. Plus, the network’s sophisticated discrepancy detection makes Oasis more efficient than sharding and parachains — requiring a smaller replication factor for the same level of security.
2.Privacy-First
The Oasis Network designed the first ever confidential ParaTime with support for confidential smart contracts. In a confidential ParaTime, nodes are required to use a type of secure computing technology called a TEE (Trusted Execution Environment.) TEEs act as a hypothetical black box for smart contract execution in a confidential ParaTime. Encrypted data goes into the black box along with the smart contract, data is decrypted, processed by the smart contract, and then encrypted before it is sent out of the TEE. This process ensures that data remains confidential, and is never leaked to the node operator or application developer
The Oasis Eth/WASI Runtime is an open source example of a confidential ParaTime that uses Intel SGX. Other secure compute technology, such as ZKP, HE, or other secure enclaves, can also be used. In the future we hope to support additional computation techniques such as secure multi-party compute, federated learning and more.
Confidentiality unlocks a range of new use cases on blockchain by allowing personal or sensitive data, such as their social security number, bank statements, health information to be used by apps on the Oasis Network — something incredibly risky on other Layer 1 networks.
3.Versatility
Designed to support the next generation of blockchain applications, the Oasis Network is incredibly versatile, agile, and customizable. Namely, each ParaTime can be developed in isolation to meet the needs of a specific application. ParaTimes committees can be made large or small, open or closed, allowing for faster or more secure execution depending on the requirements of a particular use case. Nodes can be required to have specific hardware, such as Secure Enclaves in a confidential ParaTime. Each ParaTime can similarly run different Runtime VMs (ParaTime Engines) such as EVM backwards compatible engine, Rust based smart contract language, or a Data tokenization engine. Finally to support enterprise and developer use cases, ParaTimes can be made Permissioned or Permissionless — allowing consortiums to have their own closed ParaTime, or communities to have full decentralized open ParaTimes.
The versatility of the ParaTime Layer allows the Oasis Network to expand and grow to address a broad set of new and exciting use cases, while still maintaining the same core ledger and consensus layer.
4.The Oasis Network has a thriving and rapidly growing ecosystem consisting of industry-leading app developers, blockchain infrastructure teams, node operators, universities, and more. We are proud to highlight some of our key partners and community members in the chart below:
Carter: Thank you Vic. Next, could you please tell us about the ROSE token?
Vic:
1.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.
Token utility: The ROSE token will be used for transaction fees, staking, and delegation at the Consensus Layer.
Staking rewards: 2.3 billion tokens will be automatically paid out as staking rewards to stakers and delegators for securing the network over time.
The quantity of ROSE tokens reserved for various network functions, as a percentage of the total existing token supply, approximately follows the distribution below.
Tokens set aside for Staking Rewards will be disbursed in accordance with on-chain mining mechanisms, which are calculated based on how many blocks are produced, how many nodes are participating in staking, and how many tokens are staked etc. The remaining allocations will be disbursed according to the following release schedule:
Carter: At the moment, what applications does Oasis have on DEFI?
Vic: Scalable, Private DeFi
The Oasis Network is designed to support confidential smart contracts, allowing it to keep data private while being processed. By providing end-to-end data confidentiality on Blockchain, the Oasis Network unlocks new and exciting use cases in DeFi. From under-collateralized lending to preventing front/back running, the Oasis Network can help expand DeFi beyond traders and early adopters to a mainstream market.
The network’s cutting-edge scalable features can help unblock DeFi as it works today, fixing the high-transaction fees and slow throughput currently plaguing other Layer 1 networks. Combined, Oasis’ unique ability to provide scalable, private DeFi is expected to make it the leading platform for unlocking the next generation of DeFi markets and use cases.
That’s the end of our recap. We also set up a quiz game in the interview, and finally 4 winners shared $1500 ROSE! For more AMA with rewards, come join our telegram group！ https://t.me/TopDaoGroup
