Oasis is another project that Forbole has paid a lot attention on. Privacy is one of the most important, if not THE most important, issues in the technology world. Users now have become aware how their personal data has been used and leaked by internet companies. We believe Oasis has great potential to tackle this problem with their innovation powered by blockchain technology.
Machine Learning has become a part of our daily life. We rely so much on the suggested results to reduce number of options to make our life easier. Everything becomes more efficient but in exchange users sacrifice data privacy to large tech corporations where they earn so much by selling the computed users data as product, while the owner of the data earn nothing.
Oasis Labs is trying to tackle this problem by developing every single step in a privacy first manner on a public blockchain where no single entity owns all data and the data owners can control how they can share their data to the parties they trust. This can be achieved by processing confidential smart contract in a hardware enclave environment which even the node operators cannot touch the data on the node.
We have been keeping an eye on Oasis since listening to the presentation of Prof Dawn Song at the Global Blockchain Summit 2018 in Shanghai. There are so many different protocols appeared in the industry in 2019. Oasis is among a few of them that integrate another layer of compute and storage architecture on top of the Tendermint consensus engine. This opens up a new economic model which validators is not the only actor on the chain. Validators may only have to take care of making consensus and finalizing the states. Other roles in Compute Committee and Storage Committee will be in charge of the extensive computation on the smart contracts and sharing large amount of storage for storing the states. In this architecture, different roles can share the economic values generated by the network.
Oasis have recently launched the public testnet and we are happy to be on the it now. The next thing we would like to see will be how different committees can cooperate smoothly together and create interesting use cases in a decentralized serverless computation environment without the worry of leaking any sensitive data.
The steps for join the public testnet is straightforward. If you are interested, you can simply follow their documentation. Hope to see you on Oasis 🌴.
Where to find Forbole: