Oasis Labs announced the successful start of its Mainnet Oasis Network, with more than 70 independent validators already living.
Oasis is a data protection-oriented layer-one network that supports decentralized applications that require a throughput of 1000 transactions per second.. In June 2018, Oasis raised $ 45 million from major crypto companies, including A16z, Binance Labs, Panther Y. Polychain. Oasis allowed Data is encrypted and privacy policies related to its use are enforced through smart contracts.
Oasis Labs says its functionality of “confidential computing” enables Nodes in the network process encrypted data to ensure data protection from a variety of processes, from credit checks to genetic research. An announcement on November 19 stated:
“Oasis Network can support a new generation of privacy protection applications that inherently take into account the preferences of user data and ensure that everyone receives fair compensation for their data. They can earn rewards by putting their data on applications that they want to analyze or control how their most sensitive information is used by the services they use. “
The Oasis team presented the network’s data protection protocols Facilitating the creation of under-collateralized credit products within the DeFi sector. The network should have a larger capacity Allow credit checksThis ensures the confidentiality of sensitive financial or personal information and enables loan applicants to determine their creditworthiness with lenders.
Most of the existing loan products within DeFi offer over-secured loans, although projects, including mainframe, They are also making efforts to introduce under-secured loans.
The announcement notes that DeFi industry leaders, Chainlink and Balancer recently joined the Oasis Network. Oasis Labs thinks so too Its secure architecture could also facilitate the creation of private decentralized exchange platforms, including automated market makers like Uniswap.
According to Oasis, “hundreds” of partnership projects are already being set up in the network, including a “Genome Sequencing First in Privacy” with Nebula Genomics and CryptoSafe Alliance (CSA) led by Binance.
Oasis announced that last month Nebula Genomics would use its Parcel data governance API product to the Allow genomic data to be analyzed in an isolated computing environment.
The project aims at Reducing the risk of consumer genetic data being compromised by breaching central databases. Parcel also offers consumers secure data storage and tamper-proof access data.
Announced in August CSA is a platform that facilitates the private exchange of threat data between cryptocurrency exchanges. The CSA uses Oasis’ confidential smart contracts to ensure that sensitive data of participating companies on the network remains private.