Oasis AMA Recap
Oasis DeFi Lead, Luca Cosentino
Hi everyone! This is Luca from Oasis
Oasis Privacy Archutecht, Vishwanath Raman
Hello folks!
Oasis Marketing and Community, Anne Fauvre
Hello!
We’re almost ready!
CryptoDiffer team
Hello, everyone!
We are glad to meet here
Vishwanath Raman (Oasis Privacy Architecht) @vishwaraman
Luca Cosentino (Oasis DeFi lead) @lcosent
Anne Fauvre (Oasis Marketing and Community) @afauvre
CryptoDiffer team
Q1: Can you introduce yourself to our community ?
Oasis Marketing and Community, Anne Fauvre
Hi Everyone — really pleased to be here! My name is Anne and I work on all things Oasis Marketing and really focused on preparing the Network for launch! Ive been working on the Oasis project for about 2 years and passionate about actualizing the vision of building a more responsible data economy. Before Oasis I was a PM / Product Marketing lead at Apple working on iPhone.
Oasis DeFi Lead, Luca Cosentino
This is Luca from Oasis. I joined Oasis 2y ago and am leading our DeFi efforts.
I work a lot with blockchain companies that are interested in building on Oasis or partnering with us, as well as FinTech players and institutions that are interested in the DeFi space.
Oasis Privacy Archutecht, Vishwanath Raman
I am Vishwa. I focus on enabling both direct to consumer and business to business use-cases that can take advantage of our integrity, confidentiality, and privacy capabilities. Been with Oasis for about 2 years. Would love to see a world where data is used responsibly!
CryptoDiffer team
Q2: Can you briefly tell us what is Oasis in 3-5 sentences?
Oasis Marketing and Community, Anne Fauvre
Designed for the next generation of blockchain, the Oasis Network is the first privacy-enabled blockchain platform for open finance and a responsible data economy. Combined with its high throughput and secure architecture, the Oasis Network is able to power private, scalable DeFi, revolutionizing Open Finance and expanding it beyond traders and early adopters to a mass market. Its unique privacy features can not only redefine DeFi, but also create a new type of digital asset called Tokenized Data that can enable users to take control of the data they generate and earn rewards for staking it with applications — creating the first ever responsible data economy.
CryptoDiffer team
We have one more question for you and will move on to community questions part, everyone please be ready:
Q3: Let`s now talk about the milestones you have achieved and about your upcoming plans?
Oasis Marketing and Community, Anne Fauvre
Yes so here’s a good visualization of where we are
This past year the Oasis Foundation launched an incentivized Testnet — the Quest. It had over 500 node operators participating and over 70 winners including all the top PoS validators out there. The Netowrk then launched a release canddiate for Mainnet, The Amber Network, which is currently running now.
The Foundation is very close to launching mainnet. I don’t have a date to share but I can say that the team is putting the genesis file together as we speak
CryptoDiffer team
Awesome, a lot of updates to come out!
Thank you for great answers!
I think it is time to start community questions round!
Cryptodiffer Community
What exciting features coming to Oasis Network after Mainnet?
We know Liquidity is very important in DeFi
How will Oasis Network solve this problem about Liquidity?
Oasis DeFi Lead, Luca Cosentino
Features:
We think the future of DeFi is formed of 4 features: Privacy, Scalability, Composability, and Identity/Reputation and we are building our network according to this view. We are also partnering with the best in class protocols and services in each of the building blocks of a Dapp, making more and more of those available on our network, with the addition of privacy.
Cryptodiffer Community
Do you have planning to promote your project in different countries, where English is not good? Do you have a local community for them to better understand your project?
Oasis Marketing and Community, Anne Fauvre
Yes we are working on this and would love your help! You can join local channels here (link below). These are all community run but they’re pretty good about updating content in local languages.
Bangladesh : https://t.me/OasisNetworkCommunity_Bangladesh
Brazil : https://t.me/OasisNetworkCommunity_Brazil
India : https://t.me/OasisNetworkCommunity_India
Korea : https://t.me/OasisNetworkCommunity_Korea
Nigeria : https://t.me/OasisNetworkCommunity_Nigeria
Philippines : https://t.me/OasisNetworkCommunity_Philippine
Russia : https://t.me/OasisNetworkCommunity_Russia
Vietnam : https://t.me/OasisNetworkCommunity_Vietnam
Cryptodiffer Community
Are there any new partnerships and interesting upcoming use-cases?
Which area does #OASIS focus on at the moment? (DeFi, Stake,Dapps,Vote…)
Oasis Privacy Archutecht, Vishwanath Raman
We announced a couple of new partnerships. Binance and Chainlink. We are working on a number of fascinating use-cases. The blogs on our foundation webpage give you a glimpse of the various projects we are working on. For Binance we are part of an alliance that Binance is putting together to enable exchanges to share threat intelligence and run queries on the joint threat intel. The exchanges are not required to trust each other neither are they required to trust Oasis. Chainlink is our preferred Oracle provider at launch.
Cryptodiffer Community
Why did you choose the name ROSE for your token? What is the story behind it?
Can you share with us your next big milestone? What should we expect from Rose and Oasis Labs?
Oasis Marketing and Community, Anne Fauvre
We wanted the token to stand as a representation for the network and Roses fit very well with this imagery. Historically they have often represented “secrecy”. Dating back to Ancient Greece, the Rose was seen as a symbol for secrets or privacy, used by Aphrodite as a gift in exchange for keeping the secrets of Gods.
In Ancient Rome this symbolism continued and the phrase “sub rosa” or “under the rose” was to mean “done in secret” or “under a pledge of secrecy”. This phrase and the symbol of Roses as secrecy extended throughout history with the British Tudors era where state secrets were decided in a room with a large rose hanging from the ceiling.
Cryptodiffer Community
Can you tell us something about your Vision and target that #Oasis DeFi is focusing most until end of this year?
Oasis DeFi Lead, Luca Cosentino
The roadmap for the next few months is focused on 1) launching the network 2) making main protocol and services available on the network and 3) bringing privacy and scability to defi.
Cryptodiffer Community
Does the Oasis Network support ParaTimes EVM? Are you planning to launch Ethereum smart contracts supporting DeFi protocols in Oasis?
Oasis Privacy Archutecht, Vishwanath Raman
Yes we are. At launch we will have an EVM ParaTime that is developed by secondstate. Here is a blog post on the topic –
https://medium.com/oasis-protocol-project/ethereum-support-on-the-oasis-blockchain-3add9e13556
Cryptodiffer Community
I stumble upon an announcement of your partnership with Binance. This is huge, can you talk more about it? How did you come about this partnership and will it in any way benefit we the community members?
Oasis Marketing and Community, Anne Fauvre
Yes! Oasis Labs is partnering with Binance on a new initiative to help combat crypto fraud with the CryptoSafe Alliance. Powered by the Oasis Network and the Oasis Labs privacy SDK, Parcel, the CryptoSafe Platform is a decentralized system used to identify bad actors across multiple exchanges.
By using the platform Alliance members will be able to share and access real-time intelligence and reports on hacks, scams and other malicious incidents privately and without having to share sensitive industry or user data with competitors.
This is an exciting use case for blockchain, and a great example of how secure computing technology can help untrusted parties collaborate on shared data.
This will help the community in that as more exchanges get involved, the Alliance will help reduce fraud, improving the crypto community as a whole.
Cryptodiffer Community
DeFi is one of the hottest topics in the blockchain field. Can you share your opinion about DeFi with us?
Do you think DeFi will destroy the existing financial system?
What’s your project Approach towards DeFi?
Oasis DeFi Lead, Luca Cosentino
DeFi should help move from a system based on geography, status, and wealth, to a system based on a set of programmable conditions. We also think that a completely transparent financial system is not imaginable so we think privacy will stronly shape the next gen of DeFi apps. We see privacy as a way to protect interests and relationships, not as a way to hide information.
We think DeFi will attract instiutions that are part of the current financial system and we expect the current financial system to get closer and closer to DeFi, perhaps integrating some lending protocols inside more traditional apps.
Cryptodiffer Community
What is the difference between ParaTime on the Oasis network and the parachain on the Polkadot network?
Oasis Marketing and Community, Anne Fauvre
ParaTimes (aka Parallel Runtimes) are replicated execution environments that process transactions on the network and execute smart contracts. In short, they do all the “computation” on the network. The Oasis Network can have many different ParaTimes all running simultaneously, each with its own unique properties and configurations.
ParaTimes and Parachains address the same problem and that is scalability. In the ParaTime model anyone can run a ParaTime on the Oasis network which then proposes blocks for inclusion in the ledger together with proofs of correctness of execution. In the Parachain model there are parallel evolving chains that eventually commit to a global ledger also known as the Relay chain. The difference is in where the state lives before an eventual commit. In our case it is in the ParaTimes that are verified before being accepted by the consensus layer. In the case of Parachains it is in the collator nodes that eventually commit after consensus with a similar Proof of Verification step.
Cryptodiffer Community
How will Oasis solve the scaling problem? And what is possible to overcome the threat of centralization?
Oasis Marketing and Community, Anne Fauvre
Yeah it’s a good question. So Oasis has a unique approach to scalability where the network separates consensus from computation. By doing so the network is able to manage realyl complex transactions at scale. Sharding is a nice idea in theory but comes with a lot of complexity and costs that make it harder to implement in practice. From a security perspective, the complexity of sharding also makes it harder to audit and inherently more vulnerable to security breaches The Oasis Network’s discrepancy detection-based approach provides the same benefits as sharding through a cleaner, simpler, more efficient implementation.
Ultimately, the Oasis Network’s unique scalability mechanism ensures that the network is not only fast (like sharding networks purport to be) but also versatile and secure enough to support a wide range of real-world workloads.
Cryptodiffer Community
The crypto space, and even more so the DEFI industry, is very young and changing rapidly. My question is: how flexible are Oasis tools and design to adapt to changes in the crypto space?
Oasis DeFi Lead, Luca Cosentino
it’s true that the space is changing rapidly, but it’s also true that some bigger trends haven’t taken off yet. We are very focused on the macro picture. Our architecture offers a lot of flexibility, the presence of paratimes and the many partnerships we have are an example.
Cryptodiffer Community
How does data mediate your development in building new business models, artificial intelligence and machine learning?
Oasis Privacy Archutecht, Vishwanath Raman
We are focused on enabling ecosystems where data is owned by an entity and used by another. Given the flexibility of our architecture with ParaTimes, we get multiple advantages that enable pretty much any data driven use-case. For instance, anyone can build an ML training ParaTime that uses a cluster of condidential VMs and interfaces with the consensus layer using a well-defined interface. At this time we have several partners that have AI pipelines that they want to bring confidentiality to. Luther.ai and Alethea are examples.
Cryptodiffer Community
Why do you think that privacy-preserving Daaps and DEFI will contribute to the development of the world of cryptocurrency in mass adoption?
Oasis Marketing and Community, Anne Fauvre
With its privacy technology, Oasis is able to bridge real-world identity and on-chain finance because users can securely store and share sensitive real world data (e.g. credit scores) on ParaTimes. This unlocks new use cases like undercollateralized loans, private lending, and dark pools — unlocking new markets by expanding DeFi beyond just early adopters and traders to mainstream users.
Cryptodiffer Community
Q: Yeild farming is a new trending so Oasis Labs have any plan to yeild farming system development?
Q: How Oasis Labs maintains and controls flexibility, cost and security which three important things on blockchain?
Oasis DeFi Lead, Luca Cosentino
Similar to other credible projects, we are studying yield farming to separate the good and the ‘bad’ things out. We are working with companies such as Balancer and Stafi to bring their contracts to our network, especially given everyone agrees that privacy will be a killer feature soon.
Cryptodiffer Community
What tools does Oasis offer developers so they can run their own ParaTimes on the Oasis network?
Oasis Marketing and Community, Anne Fauvre
We’re very excited for developers to try out building and deploying their own ParaTimes! Currently we provide a Rust SDK for ParaTime development. The best place to get started is our developer docs at https://docs.oasis.dev/oasis-core/. When you’re ready to try out deploying your ParaTime to the Amber network, check out https://docs.oasis.dev/oasis-core/development-setup/running-tests-and-development-networks/deploying-a-runtime
Cryptodiffer Community
Could you tell us more about the latest updates to the Oasis network and the new partnerships that will lead you to success?
Oasis Marketing and Community, Anne Fauvre
yeah it’s a good question. so we’re seeing a number of paratimes in development. One of those is a Data Soveriegnty focused paratime designed by Oasis Labs. This ParaTime is explicity designed to help manage confidential compute. Additionally Oasis Labs has built a number of developer privacy tools called Parcel to abstract the blockchain away and make development easier to do (don’t need to use Rust!). This is in alpha now but expect to see it out in the wild soon! If you’re itnerested in trying it out just go to https://www.oasislabs.com/parcelsdk and we’ll get you hooked up!
One example of a company using this: A direct-to-consumer genomics wants to differentiate their product from other competitors by giving their users control of their genetic data. Using Oasis’ framework, customers can retain ownership of their genomic data and the company can run analysis on the data without seeing the customer’s raw information.
Cryptodiffer Community
How Oasis plans to dominate the DeFi market?
Oasis DeFi Lead, Luca Cosentino
We think DeFi has two main issues.
1- existing networks incentivize ‘selfish’ behaviors such as front and back running, making the network valuable for few and unusable for many.
2- participations of big players is discouraged by the full transparency of the existing networks
Oasis is super well equipped in both aspects.
Cryptodiffer Community
How will ROSE tokens be distributed?
Will there be staking rewards? How will they work?
How will ROSE be used by the network?
Oasis Marketing and Community, Anne Fauvre
How will ROSE tokens be distributed?
We haven’t announced anything about distribution yet, but we’re working on ways for folks in the community to contribute and earn rewards and should have more to share soon. If you’re interested in learning more, fill out this form and stay in this channel for updates.
https://oasisfoundation.typeform.com/to/i4kzWvmV
Will there be staking rewards? How will they work?
The network is targeted to reward stakers with rewards of between 2.0% to 15.0% depending on the length of time staked to provide staking services on the network, with rewards ranging between ~15-12% annualized the first year. In order to be eligible for staking rewards per epoch, a node would need to sign at least 75% of blocks in that epoch.
How will ROSE be used by the network?
The ROSE token will be used for staking, delegation, and computation fees in the consensus layer.
As the Oasis Network evolves, we envision it will play a larger role as we expand into open finance with the introduction of Data Yield Farming as part of the DeFi stack.
Cryptodiffer Community
The goal of the DeFi app is to create a new financial system that eliminates subjectivity, bias, and inefficiency by relying on programmable terms. Does the Oasis network support this vision and how does it participate in the DEFI space?
Oasis DeFi Lead, Luca Cosentino
Absolutely. You can find a couple of blog posts and presentations where I talk about the exact same thing. In addition to solving the main problems of the current DeFi (scalability, high fees, back/front running, lack of privacy, etc), we also think that developers will need to build a set of integrations for the main building blocks that form a finance app. Oasis has partnerships with top players in each category to help developers in this process.
Cryptodiffer Community
What’s Oasis Labs and what problems does it solve that existing solutions are not solving
Do you offer any incentives for users of Oasis Labs and how can I contribute to the development of the project
Oasis Privacy Archutecht, Vishwanath Raman
From the very outset Oasis has focused not only on scalability but also on confidentiality and privacy. This is a significant differentiator as we have a network that is purpose built for confidentiality and privacy. There is support for confidential ParaTimes in the consensus layer and we have a reference confidential ParaTime that anyone can run or use that as an exemplar to build one on their own. A confidential ParaTime provides end to end confidentiality for transactions. Not just at rest and in motion, but during compute.
We have a number of incentives for users to participate and get involved. Here are useful links –
https://oasisprotocol.org/en/grants
https://oasisprotocol.org/devaccelerator
https://medium.com/oasis-protocol-project/the-oasis-community-cup-starts-now-1112b4a689a2
Cryptodiffer Community
How many validators are planned in Oasis network? Is there a theoretical chance that 2/3 of network validators will act maliciously
Oasis Marketing and Community, Anne Fauvre
It’s a permissionless network so is there an infinite number of operators. The consensus committe will be comprised initially of somewhere between 70-100 nodes. The network voting power is based on stake weight. Various part of the network and paratimes have been extensively audited by a number of external groups including Trail of Bits and NCC Group.
Cryptodiffer Community
Can you HIGHLIGHT the TOP-NOTCH FEATURES of OASIS LAB that will convince both CRYPTO EXPERTS and NON CRYPTO USERS to join this project and contribute immensely in it?
Oasis Marketing and Community, Anne Fauvre
Sure thing! Here’s what we see as really making Oasis Stand apart:
Confidential Smart Contracts
The first network to support confidential smart contracts. The Oasis Eth/WASI Runtime is an open source example of a confidential ParaTime that uses secure enclaves to keep data private while being processed.
Private and Scalable DeFi
Oasis is able to bridge real-world identity and on-chain finance with it’s cutting-edge privacy technology — unlocking new use cases like undercollateralized loans and expanding DeFi beyond early adopters to a mass market.
Tokenizing and Monetizing Data
Oasis’ privacy features allow users to control and tokenize their own data. Users can ensure apps only compute over encrypted versions of their data and monetize their data by charging apps for access.
Parallel Smart Contract Layers
ParaTimes are parallel smart contract layers that can be customized to meet the needs of a specific use case. Anyone can create their own ParaTime, allowing for the Oasis Network to support a rich ecosystem of applications.
I could go on and on here… the network is very unique in many ways. Check out our Primer to learn more: https://docs.oasis.dev/oasis-network-primer/
Cryptodiffer Community
Can Oasis run corporate Paratimes with node launch restrictions? Can one node run more than 1 Paratimes?
Oasis Marketing and Community, Anne Fauvre
Yes! A ParaTime can specify restrictions on who is eligible to operate compute and storage–we expect this will be useful for developers/organizations that have specific requirements. And yes, nodes can run more than one ParaTime, subject to their own resource limitations.
Cryptodiffer Community
Why do you think that privacy-preserving Daaps and DEFI will contribute to the development of the world of cryptocurrency in mass adoption?
Oasis DeFi Lead, Luca Cosentino
Bringing a sustainable financial incentive definitely increases adoption. Current lack of scalability, high fees, miners’ behavior, and lack of privacy scare large institutions and traditional investors, making the product appealing to super high-risk crypto traders only.
Cryptodiffer Community
Q1. Would you mention the features of oasis that make it different and outstanding among its competitors?
Q2. Security is really important and valued by users these days. Would you mention Oasis security measures? How is it protected against being hacked, and in case it does, is there insurance for investors?
Oasis Privacy Archutecht, Vishwanath Raman
For Q1 there is an anwer that we posted a few mins ago. On Q2 – Oasis has a great team with a lot of experience in security and privacy. We have done multiple audits and take the security of our stack very seriously and have done multiple audits.
Cryptodiffer Community
Can you monitor all transactions on the DeFi infrastructure and outside the chain?
Can the transactions of the users be monitored on the network? How do you ensure privacy and anonymity?
What critical problems does OASIS FOUNDATION solve that existing solutions are not solving?
Oasis DeFi Lead, Luca Cosentino
We have a block explorer so the transactions are visibile. The content won’t be public though, which protects privacy.
At its core, we solve scalability and privacy together, other projects may solve one at a time. We designed our system to be able to support complex transactions in a privacy-preserving way, which is pretty unique.
Cryptodiffer Community
How do you pay via the Oasis application? Does credit card support? Or crypto deposit?
Oasis DeFi Lead, Luca Cosentino
We have partnerships with on/off ramp players so we will support multiple ways.
Cryptodiffer Community
What exactly are the Consensus Layer and ParaTime and how do they mediate the provision of privacy?
Oasis Privacy Archutecht, Vishwanath Raman
The consensus layer is separate from the execution layer. The former supports multiple parallel execution environments called ParaTimes. What the platform provides are integrity and confidentiality. The latter is a prerequisite for privacy. The architecture is purpose built to support confidential runtimes. Please note that confidentiality can come from multiple mechanisms. We use Trusted Execution Environments at this time. A ParaTime can provide confidentiality using any secure computing tech. Homomorphic Encryption for example. The platform is agnostic and non-prescriptive.
Cryptodiffer Community
Which is the Consensus algorithm that Oasis foundation use? PoW , PoS or Hybrid?
Have you considered the creation of a Wallet ? Or a hardwallets integration?
Oasis Marketing and Community, Anne Fauvre
1. The consensus algorithm is PoS, based on Tendermint.
2. There is support for Ledger hw wallets–more info here: https://docs.oasis.dev/oasis-core-ledger/. There are several other wallet options currently being developed by community contributors (that we know of ).
Cryptodiffer Community
Currently attracting real users and mass Adoption is a problem for Blockchain projects. So how will #OASIS solve this problem?
Oasis Marketing and Community, Anne Fauvre
The Oasis Network was designed to be able to support use cases and apps that address a mainstream audience. We see privacy as a critical part of this. With support for confidential compute, sensitive data can be brought on chain while still remaining private. This expands the kinds of apps that Blockchain can support — for example real-world identity can be linked (confidentiality), allowing DeFi apps to offer under collateralized loans. If you think about it, most apps we use today require some kind of sensitive information that we wouldn’t want to be stored publicly on chain. Oasis’ privacy features change that.
Furthermore, our unique design that separates consensus and compute allows the network to be scalable and versatile — able to address a broad range of use cases with customizable ParaTimes.
Cryptodiffer Community
Q: Alternatively, if you don’t think there are direct competitors, what sort of trends or obstacles do you think need to be overcome in order for Oasis Labs to capture more market share?
Q: What are some of the major achievements that the Oasis Labs project has achieved and what milestones are planned in the upcoming months/years?
Oasis Privacy Archutecht, Vishwanath Raman
In general our focus has been on making it easy for developers to engage with the platform. We truly believe that capturing more market is predicated on least friction development experiences whether or not the developers are blockchain aware. This is the best way to get small startups and enterprises to use our platform. The goal is to get to a point where it becomes easy to build new applications that provide confidentiality as well as move existing stacks to provide confidentiality.
In terms of achievements we have quite a number of things we can talk about. Please check out our foundation website and our blogs! Thanks!
Cryptodiffer Community
What are your plans for more collaboration for DeFi innovation?
Oasis DeFi Lead, Luca Cosentino
we see this done in two steps. 1) we partner with protocols and services to help developers integrate the main building blocks of each app. 2) with these and other partners, we have sessions to discuss how privacy can shape the next gen of Defi services
Cryptodiffer Community
Oasis Labs CEO Dawn Song is renowned for her work in AI. Will OasisNetwork develop in this direction and if so how?
Oasis Marketing and Community, Anne Fauvre
The Oasis Network was designed so that the compute engines (ParaTimes) could be developed in isolation. This allows the network to support a broad range of use cases simultaneously, and develop specialized ParaTimes for specific types of compute. We imagine this may one day allow new kinds of sophisticated compute, but still a lot of development to do there. We encourage anyone to build a ParaTime!
Oasis Marketing and Community, Anne Fauvre
Thanks everyone for all the awesome questions. To learn more about the project be sure to join the community telegram channel! This is the best place to be the first to know about new developments and community incentives!
https://t.me/oasisprotocolcommunity
Cryptodiffer TEAM
Really appreciate this!
You are awesome!
Thank you everyone who participated today!
Oasis Privacy Archutecht, Vishwanath Raman
Thanks for having us! Thanks all for the great questions!
