What’s so special about Oasis working with Meta?

On July 28, Oasis Labs, the developer of the privacy computing network Oasis Network (hereinafter referred to as Oasis), announced a partnership with Meta. As an important technology partner of Meta, Oasis Labs has built a platform using Secure Multi-Party Computation (SMPC). Responsible for Artificial Intelligence (Responsible AI) and data usage.

Among the many underlying protocols that focus on privacy protection, what is special about Oasis being a partner of Meta? This article will attempt to answer that question.

High concurrency

Almost all public chains have a trade-off between decentralization, scalability and security. However, because the information on the chain is open and transparent, everyone can access the data on the chain, and with the continuous development of blockchain applications, users may expose more and more information, and privacy on the chain has gradually become a pain point in the industry, so privacy gradually Become the fourth question to be considered in the blockchain.

Oasis is one of the public chains that can solve privacy problems, but before explaining how Oasis works to protect user privacy, we have to mention another feature of Oasis—high concurrency.

Oasis separates consensus and execution into two layers: consensus layer and ParaTime layer. The separation of consensus and execution allows multiple ParaTimes to process transactions in parallel. ParaTime can be simply understood as different “networks” on Oasis.

What's so special about Oasis in partnership with Meta?

The unique design of ParaTime ensures that different ParaTimes on Oasis process transactions in parallel without affecting each other , which makes Oasis have high concurrency characteristics, which ensures that Oasis can serve multiple enterprises at the same time without reducing performance and without facing other The network congestion that the blockchain network may face.

This means that complex workloads processed on one ParaTime will not slow down another ParaTime, transaction processing is simpler and more efficient, and the security and privacy of each independent ParaTime can be guaranteed .

In addition to privacy, ParaTime allows flexible configuration of parameters , such as the size of the committee’s execution, which is related to the level of security required by users to meet specific business needs. Additionally, ParaTime can run different VMs , such as EVMs or Rust-based smart contracts, and can be designed as permissioned or permissionless systems. Ultimately, ParaTime customization and flexibility allow developers to strike the ideal balance between security, performance, and privacy.

Compared with public chains such as Ethereum and Solana, the Oasis network is more scalable, more versatile, and has higher security and privacy. It also supports developers to customize parameters and redesign the system, and the Oasis network can be used in It serves a large number of projects and enterprises without losing the above attributes, which is quite unique in the multi-chain world.

And because of Oasis’ ParaTime design, Oasis has the ability to protect privacy.

How Oasis Protects Privacy

Oasis protects user privacy through a design called Confidential ParaTime (Confidential ParaTime).

As mentioned above, the Oasis network separates the consensus layer from the computing layer, and the computing layer becomes ParaTime. Different enterprises/developers can build ecological applications on ParaTime, but there is a special ParaTimes called Confidential ParaTime.

In Secrecy ParaTime, nodes need to use a secure computing technology called Trusted Execution Environment (TEE). A TEE is similar to a black box for smart contract execution. Encrypted data enters the black box with the smart contract, the encrypted data is decrypted, processed by the smart contract, and remains encrypted until it is sent out of the black box. This process ensures that data remains confidential and is not disclosed to node operators or application developers.

And Oasis also launched new ParaTime, such as Parcel ParaTime, Cipher ParaTime, etc., to meet the ever-changing privacy needs of users, developers, and enterprises.

What's so special about Oasis in partnership with Meta?

For example, Binance partnered with Oasis to create the CryptoSafe platform to enable exchanges to share threat intelligence data. The platform leverages Parcel ParaTime’s confidential computing capabilities, allowing exchange data to remain confidential even when comparing across exchanges.

Epilogue

Oasis’ unique ParaTime design enables Oasis to have the characteristics of privacy and high concurrency at the same time, which makes Oasis stand out in the public chain. In addition, Oasis has accumulated rich application experience in the course of several years of development, and has been recognized by leading companies in the industry such as Binance, Oasis has also established a reliable brand image in the industry. Maybe Meta just took a fancy to the good technology and good reputation of Oasis and chose to cooperate to jointly promote the development of artificial intelligence and responsible data.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/whats-so-special-about-oasis-working-with-meta/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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