What is Oasis?

The purpose of Oasis is to provide a high-performance, privacy-enabled blockchain platform that addresses issues of high fees and low throughput found in traditional blockchains. It aims to enable a responsible data economy and supports a wide range of applications including decentralized finance, data tokenization, NFTs, metaverse projects, and data DAOs. The project seeks to solve the problem of data confidentiality on blockchain and to facilitate secure, scalable, and versatile decentralized applications that can handle sensitive data securely.

The technology of Oasis works through a blockchain architecture that consists of a consensus layer and a ParaTime layer. The consensus layer handles transaction validation and network security, while the ParaTime layer processes smart contracts, with multiple ParaTimes able to operate in parallel for higher throughput. It uses secure computing technologies like Trusted Execution Environments (TEE) to keep data confidential during processing. Its blockchain supports creating and running specialized ParaTimes to meet specific application needs, ensuring scalability, privacy, and flexibility.

Oasis differentiates itself from competitors by its unique separation of consensus and execution layers, allowing for higher scalability and parallel processing of transactions. Its privacy-first approach with confidential ParaTimes and support for secure enclaves give it a competitive edge in sectors requiring data confidentiality. Compared to other blockchain platforms, Oasis offers advanced privacy features, versatility in ParaTime customization, and a sophisticated discrepancy detection mechanism, making it suitable for diverse applications while maintaining high security.