AMA Recap: CryptoBooster X Oasis Network, August 10th
Part 1 — introduction and questions from the Twitter retweet
zhangruikiki | CryptoBooster:
Are you ready to start guys？
Vic@Oasis Network | Oasis Network:
I’m ready.
zhangruikiki | CryptoBooster:
Thank you let’s get it go.
A pleasure to have you here@Vic@Oasis Network. Now there’s a lot of people with questions about Oasis Foundation, Can you please introduce yourself and give us an introduction about Oasis Foundation?
We are very eager to learn about your amazing project.
Vic@Oasis Network | Oasis Network:
Ok!
I am Vic and I am the technical consultant of Oasis Network in China. I joined the blockchain industry in 2017 and participated in the community governance of EOS. I am the co-founder of the blockchain core arbitration tribunal. I have also designed and developed many dapps. I am very happy to share it in the Booster community today.
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.
zhangruikiki | CryptoBooster:
Thank you for this great overview.
Part 1: Let’s go to the Twitter Questions! We have 5 twitter questions for you, are you ready?
Q1:Can you tell us about Oasis’ unique architecture and its innovations? @kangkan61270989
Vic@Oasis Network | Oasis Network:
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.
zhangruikiki | CryptoBooster:
Thanks a lot.
Let’s move to our second Twitter question.
Q2:What are the advantages of Oasis over other blockchains like BSC? @rick69052009
Vic@Oasis Network | Oasis Network:
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.
Top-Tier Team: 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.
zhangruikiki | CryptoBooster:
Let’s move to our third Twitter question.
Q3:What is the encryption technology used by Oasis? Why did you choose it during the development process? @Aalon32990019
Vic@Oasis Network | Oasis Network:
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.
zhangruikiki | CryptoBooster:
Wow, thank you for this.
Q4:How does Oasis support Ethereum applications? @caseykeke
Vic@Oasis Network | Oasis Network:
VersatilityDesigned 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.
zhangruikiki | CryptoBooster:
Thanks a lot, coincise and precise.
Q5:Oasis is a privacy-enabled project. Can you give a privacy use case? @txx2272
Vic@Oasis Network | Oasis Network:
Many projects have already begun building apps that leverage data tokenization on the Oasis. Here are just a few examples:
Case Study: Binance CryptoSafe Alliance
Crypto theft and attacks are on the rise, and exchanges need a platform to identify and ban bad actors. The CryptoSafe Platform was developed by Oasis Labs and Binance to allow exchanges to share threat intelligence data. Because of the Oasis Network’s support for confidential compute, exchange data is kept confidential even while it’s being compared.
Case Study: 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.
Case Study: Nebula Genomics
Nebula Genomics wants to differentiate their product from other competitors by giving their users control of their genetic data. Using Oasis’ framework, customers can retain ownership of their genomic data and Nebula Genomics can run analysis on the data without seeing the customer’s raw information.
zhangruikiki | CryptoBooster:
Thanks a lot.Now let’s move the the next bit.
The one our community loves,Live questions.
Vic@Oasis Network | Oasis Network:
Thank you.
zhangruikiki | CryptoBooster:
Part 2:Open chat for 100 seconds. You can post Max 3 questions. The Oasis Network Team will select 5 questions and answer them.
Part 2 — live questions from the Telegram community
Q1 from telegram username@Lucy Chan
Which one of these aspects is important for you?
1-Increasing Token Price & Value
2-Empowering Platform Development
3-Building Community Trust
4-Expanding Partnership Globally
In what order?
Vic@Oasis Network | Oasis Network:
Quick Token Facts
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.
Q2 from telegram username@Clayton Abbott
What does your roadmap for 2021–22 look like? Name some important milestones you are hoping to achieve?
Vic@Oasis Network | Oasis Network:
Q3 from telegram username@Thakur8909
NFT and Defi are one of the trending trends in the crypto market and they are effectively expanding with many new projects coming up in the field. What do you think about the development of NFT and Defi? Which area are you focusing on at the moment? (DeFi, Stake,Dapps..) and what is your goals in this year ?
Vic@Oasis Network | Oasis Network:
Defi is better.
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.
Q4 from telegram username@Elisabeth Mcclure
Do you have any YouTube channel or website for this project?From where we can learn something?
Vic@Oasis Network | Oasis Network:
Q5 from telegram username@Truong Tran
Nearly 80% of investors only focus on short-term token price instead of understanding the real value of the project. Can you tell us the motivations and benefits for investors to hold your tokens in the long term?
Vic@Oasis Network | Oasis Network:
The quantity of ROSE tokens reserved for various network functions, as a percentage of the total existing token supply, approximately follows the distribution below.
For more information and future AMAs, join our Social Media channels:
Telegram Community: https://t.me/multichainstar
Twitter: https://twitter.com/CryptoooBooster
Our partners Oasis Network:
Telegram Community: https://t.me/Oasiscn
Twitter: https://twitter.com/OasisProtocol
