Oasis Network

The Oasis Network, developed by Oasis Labs, is a decentralized network designed to provide users with control and ownership of their data, fostering the development of inventive privacy-focused applications and use cases. ^[4]

Overview

The Oasis Network operates as a decentralized platform focusing on privacy, utilizing a proof-of-stake mechanism. It aims to give users more control over their data while facilitating the development of privacy-centric applications. The network emphasizes four key features: ^[4]

Confidentiality & Integrity: Ensuring privacy and data integrity.
Auditability: Establishing a decentralized system for auditing.
Versatility: Adapting to various use cases.
Utility and Performance: Providing practicality and efficiency for real-world use.

These features are realized through a distinctive design incorporating a Consensus Layer for decentralized ledger functionality and a ParaTime Layer for privacy-preserving computation. The Oasis Network supports multiple runtimes concurrently, offering adaptability and maintaining a secure ledger. ^[4]

The Oasis Network enables users to convert their data into tokens, safeguarding it from concentrated control by a few entities. This tokenized data facilitates the development of various privacy-preserving applications and services on the Oasis Network's adaptable and resilient architecture. ^[4]

Technology

Consensus Layer

The consensus layer is a scalable, high-throughput, secure, proof-of-stake consensus run by a decentralized set of validator nodes. - Oasis Documentation ^[1]

The Consensus Layer is designed to be adaptable and responsive, efficiently accommodating diverse use cases and addressing technological shifts. It employs discrepancy detection to ensure transaction accuracy, utilizing a committee of compute nodes that undergoes reselection in case of discrepancies. Once verified, this layer maintains an immutable record of ParaTime actions, contributing to action integrity.^[4]

Regarding confidential computing, the Consensus Layer features unique elements for runtimes using techniques like HME and ZKP. Oasis Labs made the Oasis Eth/WASI Runtime open source, which employs Trusted Execution Environments (TEEs) like Intel SGX secure enclaves to ensure the confidentiality of transactions. Being entirely open source, anyone can set up an instance and connect it to the Consensus Layer. ^[4]

ParaTime Layer

The ParaTime Layer supports multiple parallel runtimes (ParaTimes), each representing a replicated computing environment with a shared state. It receives transactions from clients and enacts state changes based on them. The ParaTime layer operates fully decentralized, allowing individuals to create and customize their own ParaTime. Each ParaTime can be tailored to meet the specific requirements of an application, whether it involves confidential computing, open or closed committees, or other specifications. A ParaTime doesn't handle its consensus, simplifying development and enhancing integration into the overall network. ParaTimes manage computation, and discrepancy detection is employed to ensure the correctness and integrity of execution. The Oasis Network holds three ParaTimes developed by Oasis Labs: Sapphire, Emerald, and Cipher. ^[1]^[4]

Sapphire

Sapphire is a confidential Ethereum Virtual Machine (EVM) designed for Web3, offering Smart Privacy that adapts to developers, users, and brands. It enables the creation of on-chain decentralized applications (dApps) using EVM-based smart contracts ranging from fully confidential to fully public. Sapphire's key features include:

Private Storage
- Sapphire ensures secure encryption and storage for executing contracts that involve confidential data. Additionally, it simplifies the technical procedures for creating decentralized applications (dApps) that perform tasks like generating random numbers or verifying cryptographic signatures.
EVM Compatibility
- Applications developed on any EVM network can be transferred to Sapphire with minimal adjustments, especially when utilizing tools like Truffle or Hardhat. Moreover, all decentralized applications (dApps) maintain compatibility with MetaMask and other Ethereum providers.
Encryption Precomplies
- Developers running decentralized applications (dApps) on Sapphire have access to precompiled contracts that facilitate various processes, including random number generation, keypair generation, signing and verification, and other encrypted operations.
Free View Calls
- Using eth_call on Sapphire is free of charge, and the contract retains full access to its private state. This allows decentralized applications (dApps) on Sapphire to perform tasks that may not be feasible on transparent EVM chains, and it comes at no cost to users.
Web2 Authentication
- Sapphire is suited for decentralized applications (dApps) in the Web3 space that involve Web2 authentication features. Its support for EcDSA, EdDSA, and confidential storage allows applications built on Sapphire to incorporate secure authentication using credentials available in modern mobile devices and browsers. ^[5]

Emerald

Emerald is an official EVM-compatible ParaTime built to improve transaction throughput to 1,000 per second and reduce fees for Solidity developers. It operates fully decentralized with globally distributed node operators and uses Oasis ROSE as the native token for gas fees. Emerald offers:

Full compatibility with the Ethereum Virtual Machine (EVM)
Seamless integration with EVM-based decentralized applications (dApps), including DeFi, NFTs, Metaverse, and crypto gaming
Enhanced scalability with increased transaction throughput
Cost-effectiveness, featuring fees that are more than 99% lower than Ethereum
Cross-chain bridge functionality for facilitating cross-chain interoperability. ^[6]

Cipher

Cipher is a ParaTime that utilizes WebAssembly (WASM) and emphasizes privacy. Developers can use the Oasis Contract SDK with Rust to create advanced confidential decentralized applications (dApps). Cipher provides the same benefits as the Emerald ParaTime with two additional features:

Flexibility: Developers can specify data storage preferences, choosing between public and confidential storage based on cost considerations.
Security: WASM smart contracts are primarily written in Rust, which is known for strict memory management, minimizing the risk of memory leaks. ^[7]^[8]

Oasis Privacy Layer (OPL)

The Oasis Privacy Layer (OPL) is an EVM-compatible privacy solution that enables developers to enhance smart contracts on popular EVM networks like Ethereum, BNB Chain, and Polygon. It introduces encrypted transactions and a confidential state. Through a Solidity library that integrates Sapphire, developers on supported networks can effortlessly incorporate confidential state and selective disclosures into their dApps, maintaining compatibility with existing networks. The OPL offers:

Customizable Privacy
- OPL accommodates diverse privacy requirements for different dApps, supporting a range from fully public to completely confidential. This flexibility allows features in a dApp requiring privacy to function on Sapphire via OPL while users and assets remain on their host network.
Cross-Chain Convenience
- Web3 user safety is enhanced by the versatile, cross-chain privacy OPL provides. Using Sapphire's secure runtime, the message-passing bridge integrated into OPL ensures seamless synchronization between the dApp state and the host network.
Productive Transparency
- OPL allows Solidity developers to finely adjust discretionary transparency according to the optimal level for their application. ^[9]

Oasis Nexus

Oasis Nexus operates as the official indexer tool for the Oasis Network, functioning as the backend for explorers and wallets. It continuously fetches blockchain data from one or more Oasis nodes and other pertinent sources. This data is processed, and the resulting information is stored in an indexed SQL database. The database, in turn, enables access to the data through a JSON-based web API. ^[10]^[12]

The API follows the OpenAPI Specification (OAS) 3.0, ensuring compatibility with various systems. It includes essential routes such as the latest block numbers and times, making it user-friendly for Web3 builders, dApps, and other on-chain applications. ^[12]

Oasis Nexus dynamically sources data from multiple entities, primarily the Oasis node linked to the consensus and ParaTime layers. Additional sources include the metadata registry for validator metadata, Sourcify for verifiable source code of EVM smart contracts, and IPFS for more details on individual NFT instances. ^[12]

Besides data queries and visualizations, Oasis Nexus's indexer feature is an analytical tool for accounting and tax records tasks. It provides account-centric event and transaction histories, supporting accurate financial audits, tax accounting, and other financial activities. ^[12]

Oasis Wallet

The Oasis Foundation supports two in-house non-custodial wallets: Oasis Wallet - Web (a web wallet) and Oasis Wallet - Browser Extension (a browser extension wallet). Both interface with the Oasis Network, facilitating convenient storage, sending, and receiving of ROSE tokens. Additionally, the integration of Oasis Safe by ProtoFire on Sapphire and collaboration with Transak offer Oasis users custody options and straightforward onboarding processes within the Oasis ecosystem. The Oasis Wallet provides users with various functionalities, including: ^[10]^[11]

Creation of a new wallet with a user-friendly mnemonic recovery phrase
Access to an existing wallet using a mnemonic recovery phrase, private key, or a Ledger device
Viewing transaction history
Submission of new transactions
Management of multiple accounts
Toggle between light mode and dark mode (Web variant)
Selection of a language for the UI (currently, English and French for the Web variant, English and Chinese for the Browser Extension variant)
Staking and receiving staking rewards
Easy switching between different Oasis Wallets utilizing the same ADR-8 standard account key generation process.

Oasis Explorer

Oasis Explorer offers a user-friendly exploration of on-chain activities within the Oasis Network. It presents comprehensive data and analytics covering all Oasis runtime environments, enabling users to analyze the network's growth and development. ^[10]

Oasis Ecosystem Fund

In 2021, the Oasis Foundation introduced its Oasis Ecosystem Fund. Valued at $235 million as of December 2023, the Ecosystem Fund is committed to supporting founders in building the future of Web3 on the Oasis Network. ^[13]^[14]

ROSE Token

ROSE serves as the native token within the Oasis Network, fulfilling various roles such as covering gas fees, supporting staking, delegation, and facilitating governance activities. ^[2]

Token Distribution

wiki

23.5% – staking rewards
23% – backers
5% – strategic partners & reserve
18.5% – community & ecosystem
10% – foundation endowment
20% – core contributors ^[15]^[19]

Funding

On July 9, 2018, Oasis Labs disclosed securing $45 million in funding from notable backers, including a16zcrypto, Accel, Binance, DCVC (Data Collective), Electric Capital, Foundation Capital, Metastable, Pantera, Polychain, and others. ^[3]