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 Oasis Network is a privacy-enabled blockchain platform for open finance and a responsible data economy.
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The Oasis Network is a Layer 1, proof-of-stake, decentralized network. It has two main components, the Consensus Layer and the ParaTime Layer.
The Consensus Layer is a scalable, high-throughput, secure, proof-of-stake consensus run by a decentralized set of validator nodes.
The ParaTime Layer hosts many parallel runtimes (ParaTimes), each representing a replicated compute environment with shared state.
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.
By separating ParaTimes from Consensus, multiple ParaTimes can process transactions in parallel, meaning complex workloads processed on one ParaTime won’t slow down faster, simpler transactions on another.
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 Oasis Network supports confidential smart contracts — allowing sensitive data to be used by Dapps and unlocking new use cases and applications of blockchain technology.
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. This process ensures that data remains confidential, and is never leaked to the node operator or application developer.
The Oasis Eth/WASI ParaTime 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.
Designed to support the next generation of blockchain applications, the Oasis Network is incredibly versatile, agile, and customizable.
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.
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 fully decentralized, open ParaTimes.
By bringing privacy and scalability to DeFi, the Oasis Network expands DeFi beyond early adopters to a mass market. It enables private smart contracts, high scalability, and the ability to tokenize data. This unlocks new use cases like private lending, undercollateralized loans, and private automated market makers.
The Oasis Network’s unique combination of confidential computing and blockchain enables a new paradigm called Tokenized Data. With Tokenized Data users can earn rewards by staking their data with apps that want to analyze it or control how their most sensitive information is consumed by the services they use.
The Oasis ParaTime scaling architecture supports fast transaction speed, high scalability, and large workloads by separating execution from consensus. Anyone can create their own ParaTime, allowing for the Oasis Network to support a rich ecosystem of applications and use cases.
"It's exciting to see talented people like Dawn and her team working on ways to transition the internet away from data silos and towards a world with more responsible ways to share and own your data."
“We support Oasis’ vision for a responsible data economy.
Oasis’ innovative approach to optimize computation for a variety of use cases, without sacrificing strong security, is very exciting and we’re looking forward to mainnet launch."
“We are thrilled that developers will soon be able to access the first privacy-enabled, scalable blockchain network for open finance at an exceptionally low cost offered by BSN. I believe based on Oasis Network’s expertise in secure and private data-sharing and control, the two of us will find many opportunities to work together in the future."
