Oasis Labs develops privacy-focused blockchain solutions, including the Oasis Network, a layer-1 blockchain. This network consists of two parts: the consensus layer and the ParaTime layer. The consensus layer employs a decentralized group of validator nodes for secure, scalable proof-of-stake consensus. In the ParaTime layer, multiple parallel runtimes (ParaTimes) process transactions parallelly, ensuring complex tasks on one ParaTime does not impede transactions occurring on another. Each ParaTime can process up to 1,000 transactions per second and can be developed in isolation to meet the needs of a specific application, such as confidential compute, and open or closed committees. The network’s native token is ROSE, which is used to pay for transactions, staking, and delegating.
The company also offers Sapphire, a confidential EVM Compatible ParaTime providing a smart contract development environment with EVM compatibility. This utilizes Oasis' Network’s privacy layer, which is based on a secure computing technology known as a Trusted Execution Environment (TEE) for secure smart contract execution. This encrypts data that is processed, ensuring a secure platform for dApps across EVM networks and eliminating the necessity for cross-chain swaps, as well as enabling dApps to be compatible across different blockchains.
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