Oasis Network, a privacy-enabled blockchain open finance platform, has just announced two critical milestones in the development of the Oasis ecosystem. These upgrades make Oasis fully developer-ready with a range of tools and features to create and deploy powerful applications.
Code-named ‘Cobalt’ – this is the first major mainnet upgrade for the Oasis Network. This upgrade comes with a host of new features, including improved security and performance, as well as enhanced control mechanisms and more decentralization.
Highlights of network improvements include:
- Light Clients and Checkpoint Sync to make the start-up of new network nodes much faster.
- Random Beacon Support provides security for ParaTimes with an open admission policy.
- On-Chain Governance provides a simple framework for submitting governance proposals, validators who vote on proposals and, once an upgrade proposal is adopted, have a way to perform the upgrade in a controlled manner, minimizing downtime.
- ROSE transfers between the consensus layer and ParaTimes. This also means that ParaTimes get their own accounts in the consensus layer that can hold and transfer tokens.
- A path to self-driving ParaTimes to expand ParaTime’s governance options.
- The validator pool will also increase from 80 to 100, helping to further secure the Oasis Consensus Layer while increasing decentralization.
For more details on the Cobalt mainnet upgrade, including an overview of all major features, mechanics and developer technical support, see the official Cobalt upgrade proposal.
The Oasis network is a Layer 1, proof-of-stake, decentralized network. It has two main components, the consensus layer and the ParaTime layer:
- Consensus layer is a high throughput scalable, secure, secure consensus managed by a decentralized set of validator nodes.
- ParaTime layer hosts many parallel runtimes (ParaTimes), each representing a replicated compute environment with a shared state.
“With this upgrade, Oasis has become the ideal environment for developers to build applications as they take advantage of a whole host of features, including transaction fees 99% lower than Ethereum’s and much higher throughput – 1,000 transactions per second. Additionally, developers can now enjoy a powerful DApp development environment through the Oasis-Eth ParaTime, which is fully backward compatible with Ethereum. “
– The Oasis Foundation team
Parcel SDK launch
Recently, Oasis also announced that its Parcel SDK is now live in its first Beta release. Parcel is a privacy-first data governance SDK that bundles years of privacy research and expertise into a user-friendly solution. The interface is specially designed for developers who want to extend the capabilities of their app with powerful data privacy and management features.
The Parcel SDK was developed to bridge the gap between the everyday app developer and complex privacy solutions. Developers can easily analyze data in a privacy-preserving environment and unlock data that was previously too regulated or risky to use. Parcel is a powerful tool and the SDK is already being used in collaboration with Binance, BMW and Nebula Genomics, among others.