Second State Releases Oasis Ethereum ParaTime
The rise of decentralized finance (DeFi) has triggered changes in the world's financial infrastructure. The current public blockchains fall short of financial services requirements in terms of performance and privacy protection.
Oasis NetworkDesigned and developed by world-renowned privacy computing and distributed system experts.Cloud Virtual Machine and Compilerhigh performance
high performance
In August 2020, the price of Ethereum gas reached1000 Gwei. Just one DeFi transaction to deposit or withdraw funds can cost up to50Dollar. Such a high gas is due to the fact that the load capacity of the Ethereum blockchain is close to the limit. With Ethereum 2.0 still months away, a new solution is urgently needed.
Oasis Network is a privacy-preserving blockchain platform for open finance and responsible data economy design. It was designed with high performance in mind. By separating the network into two layers - a consensus layer and a ParaTime layer, Oasis Network is able to parallelize operations and scale each layer independently, creating custom ParaTime layers to support complex and specific use cases. The ParaTime layer is fully decentralized, and anyone can develop and build their own ParaTime. Nodes can also participate in running one or more ParaTimes. Each ParaTime can be developed individually to meet the needs of specific applications, such as private computing, open or closed committees, etc.
Created by Second State Oasis Ethereum ParaTimeEnables Oasis nodes to execute Ethereum smart contracts. These nodes create a high-performance public Ethereum network that is fully compatible with existing Ethereum ecosystem software, development tools, wallets, and token assets. Oasis Ethereum ParaTime can run 100 times faster than Ethereum 1.0.
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privacy first
Public blockchains like Bitcoin and Ethereum are completely transparent. Anyone running a node on these blockchains can download the full transaction history and obtain identities, relationships, and even transactional intent behind on-chain accounts. Lack of privacy is a huge barrier to financial applications on public blockchains, including DeFi.
Additionally, newly submitted transactions that are not yet included in the blockchain are also visible to the public. This has led to frequent malicious front-running transactions and other attacks on DeFi smart contracts.
Oasis Network is designed and implemented by the world's leading privacy computing experts. Oasis can guarantee the confidentiality of data and computing tasks through innovative consensus design and the use of Trust Execution Environment (TEE).
In Oasis Ethereum ParaTime, all smart contract transactions can be kept private. No one knows what's in the Confidential Transaction except the caller paying the gas. Each node executes these transactions in the TEE, which ensures that even node operators cannot see these transactions.
Technical white paperTechnical white paperEthereum Compatibility
Ethereum Compatibility
Oasis Ethereum ParaTime is fully compatible with existing Ethereum smart contracts and DApps. All current Ethereum ecosystem tools are available on Oasis Ethereum. Taking the current hot Defi as an example, deploying and using Uniswap DEX on Oasis Ethereum ParaTime is very smooth. Oasis Ethereum developers can use the following tools in the Ethereum ecosystem:
Complex smart contracts written in Solidity and Vyper;
MetaMask wallet;
web3 library and Dapp built on web3;
Remix IDE for smart contract development;
BUIDL IDE for Dapp development.
Not only codes and applications can be seamlessly migrated from Ethereum to Oasis Ethereum, but tokens and assets can also be exchanged through the oracle atomic swap contract.
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Next Generation Ethereum
Oasis Ethereum ParaTime not only supports today's Ethereum applications, but also supports the next generation of Ethereum applications. The next generation of the Ethereum Virtual Machine is often referred to as Ethereum-style WebAssembly (Ewasm). Second State Virtual Machine (SSVM) is the market leadingEwasm implementation. Oasis Ethereum ParaTime supports the current classic EVM and the upcoming Ewasm. Consult the guide,secondary title。
Oasis Ethereum Hackathon is about to start
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About Second State
Second State builds the next generation open source "operating system" for cloud computing and the decentralized web. The Second State VM is ideal for building AI and big data microservices, and is the execution engine for leading public blockchains.
