Topic: Why I am bullish on the Oasis Network. (Read 287 times)

So some news about Oasis, they will be attending Ethereum Denver, and they're hosting their own workshop about configurable privacy and how to add it as an additional layer to an EVM chain.
They also published their roadmap and looks like their method of adding privacy to an EVM is coming out soon, still no update on what is being built on Sapphire though, but I'm guessing they want to announce it in Denver where there's a lot of eyeballs. The workshop and the roadmap by the way, if anyone is interested.

https://www.eventbrite.com/e/privacy-layer-for-web3-developer-workshop-tickets-528243389197
https://oasisprotocol.org/blog/the-oasis-2023-roadmap

Another bump, Sapphire has been deployed on their mainnet, but nothing in regards to announcements yet. I'm guessing that they're gathering information on the dApps being built on it, to showcase it in one big post, but that's speculation from my end.

In the meantime, here's the latest engineering update.
https://medium.com/oasis-protocol-project/oasis-december-2022-engineering-update-49e3b9c2ac3d

Just giving this a quick bump so people don't miss out on the Covalent discussion. Good opportunity to learn more about Oasis if you haven't already. It starts at 15:00 UTC

Oasis Network has proven to be one of the best L2 Blockchains in the crypto space. Its Sapphire Paratime - the very first EVM-compatible privacy layer will be launched on mainnet this first quarter. I am enthusiastically looking forward to more privacy-enabled Dapps built on Sapphire.

Hey there everyone, hope you all had a good holiday with your loved ones. Not fun to update this thread given the market conditions, but I guess every other protocol/network/project has not done so well when it comes to the price of the token either.

Any way, to start the new year off in this thread, I thought I'd post a webinar link where Oasis is doing together with Covalent. If you're not familiar with Covalent, they're basically a blockchain indexing protocol, quite similar to Graph Protocol. The topic is going to be how integration of the network will impact it. I'd stop by and watch, it's on January 5th 07:00 Pacific time.

Note: if you don't wanna use your real email, just use a burner email for it, alternatively you can watch it on youtube once it's announced (they tend to announce their youtube right before it starts)
Here's the link
https://us06web.zoom.us/webinar/register/8216715382845/WN_wNySx54ETSOeIIapAD24WA

How's everyone doing? Given the market conditions and the one bad news after the other, it's understandable that ones enthusiasm has probably taken a severe hit, but I think if you're in this for the long term you should be undeterred, and continue to solidify your holdings and keep doing extensive research. So I guess I'll share this medium piece so you guys can see why I'm so bullish on this, since especially today with the increasing need of privacy, a solution like Oasis is needed more and more.

https://medium.com/oasis-protocol-project/the-oasis-privacy-layer-powered-by-sapphire-85079a2221f4

Copy and pasting a highlight.

The Oasis Network is not out to be another siloed Layer 1 chain that sets yet another blockchain standard, fracturing the ecosystem further. We want to work with what has been created and empower developers to take it to the next level. Solidity developers, EVM chains, and major dApps are starting to hit a Web3 ceiling because of a lack of privacy, and with the Oasis Privacy Layer, we’re forging a path forward.

In other words, they're (Oasis) aiming for making their solution easy to implement on any chain so users can have access privacy-preserving tech and confidentiality.

I'm going to strongly disagree with the comparison of Dawn to SBF. Dawn is an accredited professor, a certified genius and part of the IC3. To the veterans in the blockchain space, the IC3 should ring familiar, if not than some of the names involved. She also didn't move away to the Bahamas, and still lives in the U.S. her research is literally funded by DARPA and various government grants. SBF to my knowledge was just some rich kid that basically fooled around with other peoples money, where as Dawn is completely focused on creating a responsible data economy. The reason why I am so focused on her, is cause of her credentials as the most cited computer security expert.

Outside of this, it's pretty solid tech, based on strong research, and they're going to be the only chain that offers confidential smart contracts on the EVM. The Equifax news should have you all excited, since it's pretty clear to me that they'll be utilising Sapphire for it.

The only unfortunate, or rather fortunate given that this place has been largely unaware of the Oasis Network, is the price action has stagnated a bit in this bear market, however the prudent buyer would DCA in these ranges.

Yeah, why not? haven't check the price, but if it is like 5 cents that you are saying and then the potential to grow at $1? That is huge amount of profits already.

But I do agree with some of the posters to be cautious as well, it has a precedent regarding the founder and it turn out to be a scam, SBF. Anyone has trusted this guy, from average joe, to some big shot sports personalities. However, everything has crumbled down to it's knees.

It maybe has the potential to go big, but you emphasize the creator too much, which in my personal opinion, we should not do. The main focus should be on the project itself and what purpose it will serve. It is the most important thing to me before stepping into the project.

Oasis Network definitely has growth potential. In one year, investments in this coin brought almost 2000% for investors, including many funds, including Binance. Right now the coin is at the bottom, just ~5 cents, if there is a global bull run, this project could shoot up nicely, to $1. Even if that doesn't happen, though, buying at 5 cents would still be justified. In any case, DYOR.

This is a bit of an unrelated update, but I still think it's important. Those that have read up on Oasis are aware that their upcoming ParaTime, Sapphire (which enables confidential smart contracts on the EVM) relies on trusted hardware, also known as TEE (Trusted Execution Environment), namely Intel's SGX (Software Guard Extenstion). The unrelated part comes that another blockchain called Secret Network that also uses TEE, was hacked by white hackers, and their master key that decrypts all the confidential information was exposed. Here's the more interesting part, the group of white hackers, featured Andrew Miller, one of the scientists of Chainlink Labs, who also co-authored the Ekiden paper, which is what Sapphire is largely based on. The Ekiden paper goes on to explain how its tech mitigates sidechannel leaks in TEE (which is the vulnerability of it), and Miller tweeted that he remained bullish on TEE smart contracts.

Some news about Oasis. Equifax (large credit bureau company) will be using Oasis tech to secure the privacy of their users.
https://www.prnewswire.com/news-releases/oasis-labs-partners-with-equifax-to-power-on-chain-kyc-solution-for-the-web3-economy-301659732.html

If I understand it right, if they (meaning Equifax) use Sapphire (an upcoming ParaTime) on Oasis) then it certainly gives their token that powers their network utility.

It's actually because the founder I'm so bullish on Oasis. She's the most cited scholar in computer security, and given that Meta, and now Equifax are using their tech to provide privacy for their users (though Equifax is still on going work), I think institutions are recognising the shift towards a data economy, and the focus on Oasis, is to allow users complete sovereignty over their while still maintaining privacy.

I would invite you to read the most recent announcement with Equifax and Oasis Labs. Their goal is to provide privacy compliant methods, IE, while users have their sensitive information protected, it still allows for auditability. Not to mention that Monero is privacy at the consensus layer (meaning the bare bones), and doesn't provide the ability to offer privacy-preserving smart contract environment that allows for more complex executions.

Yes, indeed, but as investors we still need to research for me specially about this project. There is no doubt that the founders has a very good set of resume that can rival anyone in the field. Maybe I'm just thinking it wrong, maybe the project is kinda late though? just saying.

If this is one of the prime movers and that name came to light early, for sure there will be a lot of hype and investors are willing to pour their money.

Anyhow, let's see how the project will go in this bear market, and hopefully they will continue to developed it along the way so that it can survived this cycle and who knows, in the bull run, this could be one of those that will give us a good return because it is a solid project in the beginning.

You are putting too much emphasis on the creator and that's like a hard sell to me similar to most tokens nowadays. I understand that knowing the team is also important but focus on what this network does and explain it the simplest way possible.

You mentioned privacy as one feature but what assurance can users get once regulators comes knocking to your door? Only Monero didn't back down to the various anti-privacy policies.

High-throughput and low gas fee is pretty common among projects nowadays.

2nd of November 11:00 EST. Speakers: Linda, Jernej, Nick Hynes (both have written papers with Dawn, and Nick co-authored the Ekiden paper with Dawn, Ari, Fan, Miller). We're seeing the need for privacy in web3 and its utility manifesting itself with the recent Equifax news. Posting the link down below.

Outside of privacy, one of the things that Oasis are focused on, is utilising NFTs to help foster a data driven economy. This means that when we see the emergence of data NFTs, most, if not all, of retail will have soured on it, cause they lost their money on stupid monkey pictures, or cash grabs by b-tier celebrities. Essentially a data NFT means that when you submit your data (through a privacy-preserving smart contract) you get issued a data NFT. The data gets computed in the enclave, and then extracted (while your sensitive information still stays private), and you are in return awarded tokens since you're the holder of the NFT. This is useful for building credit profiles, insurance, medical data, and so on.

Link to sign up and view the Town Hall https://us06web.zoom.us/webinar/register/5016666104422/WN_-JxkFujXRfabgLm99lCMaA

https://www.prnewswire.com/news-releases/oasis-labs-partners-with-equifax-to-power-on-chain-kyc-solution-for-the-web3-economy-301659732.html

Very interesting information about the founder of Oasis. The project is indeed very promising and has excellent partners and a mission.

So a strong title needs some strong evidence, which I hope I am able to provide here.

The main reason why the Oasis Network caught my attention is cause of their founder Dawn Song. A brief intro to her so you guys can see why she's so interesting. Dawn Song is the most cited scholar in computer security (her h-index is over 130. An h-index measures productivity and citations) and a part of the Initiative for CryptoCurrency & Contracts (also known as the IC3) I'll include all the links down at the bottom btw. She's worked with google to improve their AI, as well as a focus on adversarial machine learning, to improve the defences of machine learning, due to the fact as technology evolves so does the methods of attacks. What also attracted me to Dawn, outside of her credentials and the respect her work demands from her peers, is that she's clearly a very productive and driven woman, whose primary goal is enabling a responsible and fair data economy. Protocols and chain lead by such people are always a very good long term bet, as they're not driven by material wants such as a lambo or faux respect, like you see with other founders and CEOs. If you want to take the deep dive, check out her google scholar page which I'll link down below.

Also on a quick short note about the IC3; it's an academic focused organisation that are aiming to solve the challenges of blockchain, spearheaded by Ari Juels, the chief scientist of Chainlink (and the co-author of the paper that formulized proof of work in 1999). Challenges such as confidentiality, scaling, interoperability, correctness of code; I'll include a link for that as well down below. But to copy paste it here;



Dawn has multiple papers here published on the IC3's website, some co-authored with the Chainlink team.

So what is the Oasis Network? To put in short terms:
    Oasis is a privacy-enabled, layer-1 blockchain network, with high throughput, low gas fees and a secure and modular architecture.
    The network has a unique architecture that separates consensus operations from compute into two main layers: the Consensus Layer and ParaTime Layer. This design
    allows the Network to support many different parallel compute environments (aka ParaTimes) that can be  customized for a broad set of use cases. It's similar to a rollup.
    Another explanation is that a ParaTime is its own separate compute environment that can operate as a smart contract environment as well. Hence why Oasis already has
    one EVM compatible ParaTime called Emerald, and soon it will have Sapphire, which will be the first confidential smart contract environment on the EVM.
    For more information I'll be linking a whitepaper overview, and a link to the whitepaper itself.

It also has some interesting backers such as: Andreessen Horowitz, Polychain, Pantera, Dragonfly, Binance Labs, and several projects already building like the CryptoSafe Alliance with Binance, The BMW Group, Chainlink, Genetica, and Meta (yes, Facebook).

The name of their native token is called ROSE, and yes the token has a utility. It's used for staking, delegation, and for transaction fees both for its consensus layer and its ParaTime layer.

There's a lot more, and I'll be updating this thread to make it more readable, but I'm always up for answering questions, keep in mind I'm not a developer.

The links I talked about;

Dawn Song's google scholar page: https://scholar.google.com/citations?user=84WzBlYAAAAJ&hl=en&oi=ao
Initiative for CryptoCurrencies and Contracts: https://www.initc3.org/projects.html
Proof of Work paper: https://www.semanticscholar.org/paper/Proofs-of-Work-and-Bread-Pudding-Protocols-Jakobsson-Juels/1745e5dbdeb4575c6f8376c9e75e70650a7e2e29
Whitepaper overview: https://docdro.id/dn0PG5k (this is a shortened unofficial paper of the whitepaper)
Whitepaper itself: https://assets.website-files.com/5f59478e350b91447863f593/628ba74a9aee37587419cf65_20200623%20The%20Oasis%20Blockchain%20Platform.pdf
Meta's working with Oasis Labs: https://ai.facebook.com/blog/assessing-fairness-of-our-products-while-protecting-peoples-privacy/