The first major upgrade is now live on the Oasis Network, bringing powerful new tools for ParaTime and DApp developers.
Today, we’re excited to announce two critical milestones in the development of the Oasis ecosystem, both furthering our mission of creating a responsible data economy and putting more control into the hands of everyday users. These upgrades also make Oasis fully developer ready, so if you are a developer, you now have a suite of tools and features to create and deploy powerful applications.
Our First Major Mainnet Upgrade Is Now Live!
Codenamed Cobalt, the first major mainnet upgrade marks an important milestone for the Oasis Network, as it sets the foundation for unlocking the network’s full decentralized finance (DeFi) capabilities. The name Cobalt comes from the incredible Oasis community. They voted on the naming scheme for the network upgrades and chose Cobalt because of its meaning as a Rose color. We also find it fits well with the Oasis Foundation’s signature color, blue.
This upgrade comes with a host of features including increased security and performance, as well as strengthened governance mechanisms and more decentralization.
Network enhancement highlights include:
- Light Clients and Checkpoint Sync in order to make bootstrapping of new network nodes much faster.
- Random Beacon Support providing security for ParaTimes with an open admission policy.
- On-Chain Governance provides a simple framework for submitting governance proposals, validators voting on proposals, and once an upgrade proposal passes, having a way to perform the upgrade in a controlled manner, which minimizes downtime.
- ROSE Transfers Between the Consensus Layer and ParaTimes. This also means that ParaTimes get their own accounts in the consensus layer which can hold and transfer tokens.
- A path towards self-governing ParaTimes extending ParaTime governance options.
- The validator pool will also increase from 80 to100, helping further secure the Oasis Consensus Layer while also increasing decentralization.
For a deep dive into the Cobalt Mainnet upgrade, including a run down of all its major features, the mechanics and developer technical support, check out the official Cobalt upgrade proposal.
On top of that, developers can now enjoy a powerful DApp development environment via the Oasis-Eth ParaTime, which is entirely backwards compatible with Ethereum. With this upgrade, Oasis has become the ideal environment for developers to build applications as they benefit from a whole host of features including transaction fees that are 99% lower than Ethereum’s as well as a much higher throughput — 1,000 transactions per second.
Parcel SDK Launch
We’re excited to announce the Parcel SDK is live in our inaugural Beta release. Parcel is a privacy-first data governance SDK that distills years of privacy research and expertise into an easy-to-use solution. The interface is designed specifically for developers looking to expand their app’s capabilities to include powerful data privacy and governance features.
Oasis was founded with a vision of making privacy available to everyone and that started with building a new class of technologies that are able to protect our most sensitive data, while still giving us unhindered access to the apps we love and use every day. App developers are a core element to realizing this goal and we realize developers need world-class tools and nimble API solutions that provide massive value and little integration cost. So the Parcel SDK was developed to bridge the gap between complex privacy solutions and the everyday app developer.
Developers are easily able to analyze data in a privacy-preserving environment, and unlock data that was previously too regulated or risky to use. Parcel is an extremely powerful tool and the SDK is already being used in partnership with Binance, BMW and Nebula Genomics among other organizations. More information on how Parcel works can be found here.
Get Involved With the Oasis Ecosystem
Oasis was founded by Dawn Song, the award-winning professor from Berkeley and has the support and backing of Andreessen Horowitz, Accel, Binance Labs and many more. Oasis also has several projects building on its network, and partners such as the CryptoSafe Alliance with Binance, Chainlink, Balancer, Meter and others.
The release of the Cobalt upgrade, the Oasis-Eth Paratime and Parcel SDK are just the beginning because in the coming months we’ll continue to expand the Oasis Network’s capabilities to support a diverse ecosystem of ParaTimes. This includes supporting our growing community of developers and DeFi projects with the tools and support they need.
If you are a developer, you can leverage the $1.5 million ROSE Bloom Grants Program to help kickstart the development of your projects in a range of key focus areas and support privacy-enabled DeFi and data tokenization. Each proposal is eligible to receive up to $50,000 USD in ROSE tokens. Visit our developer portal to get started today.
If you have any questions, please reach out via our official channels: