ROSEUSD
Oasis Network / United States dollar
crypto Composite

Oasis Network is a privacy-focused smart contract platform for open finance built using the Cosmos SDK. The project prioritizes applications and use-cases that promote data privacy and user confidentiality. It aims to achieve this goal by separating its consensus layer from its contract execution layer while providing a built-in interface connecting the two for privacy-preserving computation. The consensus layer acts as a hub that uses a Proof-of-Stake (PoS) mechanism to secure the network and reach a consensus on transaction validity. The execution layer consists of multiple, parallel runtimes (called ParaTimes) for specialized computation needs that each plug into the consensus layer. The Oasis Network separates consensus and execution into two layers, the Consensus Layer and The ParaTime Layer, which gives the network a more flexible (and potentially versatile) design. Separation of consensus and execution allows ParaTimes to process transactions in parallel, meaning workloads processed on one ParaTime won't slow down or impact another. The Consensus Layer accepts values from its clients (the ParaTimes) and writes these values into the next block of the blockchain. It also manages ROSE token operations and the selection of validators for the ParaTime consensus committee. The ParaTime Layer is where smart contract execution occurs. Each ParaTime can be developed in isolation to meet the needs of a specific application, such as confidential computation and open or closed committees. Discrepancy Detection Discrepancy detection is the verifiable computing technique that Oasis uses to verify ParaTime execution. It permits the use of smaller ParaTime committees and requires a smaller replication factor for the same level of security, which according to the team, is more efficient than sharding or parachain models. The two key features include (1) random selection of compute nodes from a population to form a compute committee and (2) accepting the results only if all committee members agree. If there is a discrepancy, a separate protocol called "discrepancy resolution" is enabled. which serves as another security parameter. ParaTime Logic and Tooling Oasis can support various forms of confidential computing technology through its flexible ParaTime system. For example, The Oasis Eth/WASI Runtime uses secure enclaves to keep data private while being processed. Oasis Network also supports a number of tools and SDKs to assist developers in building applications. These SDKs rely on differential privacy that aims to protect individual data. The platform supports smart contracts in RUST. It also has a ParaTime that offers backward compatibility with Ethereum, which would allow Ethereum developers to migrate existing contracts with minimal code changes. In addition, developers can build applications using existing Ethereum tools such as Truffle and Metamask.