Oasis Network is a privacy-focused Layer-1 smart contract platform that utilizes Proof-of-Stake and a modular architecture for scalability and low-cost deployment of privacy smart contracts.

The Oasis Network is a Layer 1 blockchain platform that prioritizes user control and data ownership through the use of confidential smart contracts, ensuring privacy during data processing. To address scalability and transaction fee challenges faced by other Layer 1 networks, Oasis Network employs a two-layer approach consisting of the Consensus Layer and the ParaTime Layer.

The Consensus Layer operates on a scalable Proof-of-Stake (PoS) consensus algorithm, with a decentralized set of validator nodes. On the other hand, the ParaTime Layer serves as the execution layer and accommodates multiple parallel runtimes known as ParaTimes. Each ParaTime represents a replicated compute environment with a shared state. This separation enables concurrent processing of transactions across different ParaTimes, ensuring that complex workloads on one ParaTime do not hinder the performance of simpler transactions on another.

Moreover, the Oasis Network employs advanced discrepancy detection techniques, contributing to its higher efficiency compared to sharding and parachains. Verifiable computing is used to verify ParaTime execution and requires a smaller replication factor while maintaining the same level of security.

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illumineX, the first confidential DEX built on Oasis, to launch a public testnet