The hottest thing in the cryptocurrency market in 2020 is DeFi. Whether it is Ethereum, or EOS, TRON and other public chains, there have been many high-quality DeFi applications, especially the king of smart contracts, Ethereum, which was born A large number of classic DeFi applications, such as Compound, MakerDAO, Uniswap, Synthetix, etc., are all benchmark DeFi applications on Ethereum, and they have also profoundly affected the development of DeFi applications on other public chains.

Compared with traditional financial applications, DeFi does have advantages that traditional financial applications do not have. For example, it is decentralized, no registration and KYC are required, data is transparent, trust is achieved by algorithms, and the threshold for participating funds is lower. You can participate in DeFi more fairly.

It is precisely because of these advantages of DeFi that it has made great breakthroughs and developments this year. The amount of funds locked in DeFi applications continues to hit new highs. Mortgage and lending in traditional finance have been better developed in DeFi. Decentralized Uniswap has even become the world's top cryptocurrency exchange with the fourth largest trading volume. The synthetic asset protocol can even synthesize off-chain assets such as gold and stocks onto the chain, and connect on-chain and Off-chain data, thus providing us with a better trading experience.

The impact of DeFi on the cryptocurrency industry and even the entire financial industry will be far-reaching, but we should also see that the audience of DeFi is still relatively limited at this stage. Users participating in DeFi are basically stock users in the cryptocurrency industry. There are very few participants, and DeFi is still far from inclusive finance.

Among the many factors hindering the large-scale popularization and participation of DeFi, the privacy of personal financial data is an important influencing factor.

As we all know, DeFi involves finance after all, so the privacy of some personal data is particularly important, such as your bank transaction information, loan repayment information, etc., you definitely don’t want it to be leaked. Similarly, large companies, When financial institutions and mainstream financial people participate in some decentralized financial projects, some of their sensitive financial transaction information certainly do not want to be exposed.

However, the reason why blockchain technology is popular is that it can be disintermediated, and all information can be queried on the chain, which can prevent black-box operations to a certain extent.

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1. What is Oasis Network

Oasis is a blockbuster project in the field of privacy computing. Oasis Network is designed for the next generation of blockchain. It is the first scalable and privacy-protected blockchain that can maintain data confidentiality and privacy.

Because of its privacy-preserving properties, the Oasis Network can power private, scalable decentralized finance — extending it beyond traders and early adopters to the mass market.

The network uses a novel ParaTime architecture that separates consensus (consensus layer) from computation (ParaTime layer), which makes it more scalable and supports a variety of specialized computing needs.

What is the solution and significance of the separation of computation and consensus?

According to Oasis BD and Partnerships Linda Lu:

The Oasis network is a layer 1, proof-of-stake, decentralized network. It has two main components, a consensus layer and a ParaTime layer.

1. The consensus layer is a scalable, high-throughput, secure, proof-of-stake consensus run by a group of decentralized nodes.

2. The ParaTime layer hosts many parallel runtimes (ParaTime), and each runtime represents a computing environment with a shared state.

These features provide faster transaction speeds and higher throughput than other networks.

For example, in the figure above, the right side is the consensus layer, while the left side is the computing layer, and different ParaTime Committees can run in parallel, thereby increasing the processing speed.

The high performance of the network is mainly due to the separation of computing and consensus operations into a consensus layer and a ParaTime layer. This separation allows multiple ParaTimes to process transactions in parallel, meaning that a complex workload processed on one ParaTime will not slow down a faster, simpler transaction on another ParaTime.

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2. Star founders and investors

The reason why Oasis is getting a lot of attention is also related to the project’s apparent founders and investors.

Oasis is led by Professor Dawn Song, a professor of computer science at the University of California, Berkeley, as the CEO. Oasis Labs, founded by academic and business leaders, focuses on the privacy cloud computing platform.

According to Lianwen, the founder of the project, Professor Dawn Song, once founded a computer security company. He is a well-known scholar dubbed the "Godmother of Computer Security" by the Chinese technology media. He is also a professor of computer science at the University of California, Berkeley. Has a proud resume.

She graduated from Tsinghua University in 1996, received a master's degree in computer science from Carnegie Mellon University in 1999, and a Ph.D. in 2002 from the University of California, Berkeley. He was once the recipient of the MacArthur Genius Award MacArthur Fellow, and was selected in the "35 Innovators Under 35" list by the MIT Technology Review magazine in 2009.

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3. How does Oasia solve data privacy

In order to truly break the shackles of the traditional financial system, the next generation of new financial infrastructure needs to make greater progress in several aspects such as privacy, scalability, and identity verification.

For example, in terms of privacy protection, the new financial infrastructure should make real-time adjustments at the source of the data when collecting data. The ability to collect data from multiple sources, perform secure calculations, and publish calculation results will soon have a major impact on DeFi's core businesses such as decentralized exchanges, loans, transactions, and mortgages. Oasis Network have the ability to solve these problems.

1. Trusted execution environment

Oasis has taken the trusted execution environment as the core privacy computing technology of Oasis from the very beginning, which can truly implement the privacy computing technology and provide enterprise-level performance services.

The Oasis network is designed to support end-to-end confidentiality and data ownership, with built-in key management and support for TEE (Trusted Execution Environment) such as Intel SGX, which enables it to support new privacy-preserving decentralized applications and service.

TEE (Trusted Execution Environment) is widely used in the financial field, especially when some sensitive data is involved. In fact, TEE technology is needed in our mobile phones.

TEE (Trusted Execution Environment) is a secure area within the CPU, such as Intel's SGX, which can be regarded as a black box. Smart contracts running in TEE can protect personal privacy data.

For example, in the above figure, the smart contract and data are run in the Secure Encalve (safe area) area of ​​the CPU, and then output after running. The running process of the smart contract is like running in a black box, and the data is protected.

2. Data transaction

Data is becoming more and more important to our modern way of life. However, as Internet users, we have little control over how the data generated by personal behavior is used. These data are often controlled by large Internet companies and become the main source of their income. The source of the data that should belong to us is used by Internet companies for profit, and they have not paid us a penny for use, and there is even a risk of personal privacy being leaked.

Blockchain technology can not only solve the problem of data ownership, but also solve the problem of data assetization, and the Oasis platform provides a perfect solution.

Oasis Protocol, a blockchain privacy computing platform, reconstructs the production relationship of data. It can tokenize data into an asset, and then construct a new data production, management and consumption model to form a data transaction market, allowing users to Not only can you regain control of your own data, but you can also use data to earn income through staking and other methods.

Through the Oasis network, data providers (Data Providers) can earn certain income by mortgaging data, while Data Consumers (data consumers) can obtain certain data by paying certain fees.

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4. What you need to know about Oasis

1. Large-scale Hackathon in the Oasis community

As the Oasis network mainnet launch time is getting closer, Hackathon and Gitcoin have joined forces to bring the first large-scale Hackathon to the Oasis community.

Compared with the previous Oasis Second State Hackathon, the difficulty of this Hackathon has been upgraded, but the rewards have also been upgraded! The Oasis Foundation will provide ROSE worth US$11,000, Oasis Foundation gift packages, cloud vendor discounts, etc. Friends with the ability can form a team to challenge!

Developing with Oasis Ethereum ParaTime is also one of the exam questions!

For details of the event, please refer to the link:https://mp.weixin.qq.com/s/63e4OuNBPSIiI3kNBfKdhw

2. On November 19, the Oasis Network mainnet will be launched

The Beta version of the Oasis Network mainnet has been online for some time. After receiving relevant feedback and community support on the mainnet upgrade proposal, the community suggested that the Oasis Network mainnet 00:00 on the 19th) to the official version.

In short, Oasis Network can break the bottleneck of current public chain projects in terms of scalability and privacy protection (Oasia not only has more privacy protection functions than BTC/ETH network, but also the scalability TPS can reach more than 1000, much higher than BTC/ETH Network), thus promoting the large-scale popularization and application of DeFi.