It’s that time of the month again where we bring you a roundup of what the Oasis Network team has been working on. As you know, the Oasis team is incredibly proactive in engaging with our supportive community, so take a moment to grab yourself a drink and then catch up with all the latest developments.
Cobalt Upgrade Launch Unlocks New Network Features
We are delighted to announce that we successfully completed the first major Oasis Network upgrade, codenamed Cobalt, on 28th April at 16:00 UTC. Consensus by more than ⅔ of the validators for the network upgrade was in fact reached in less than a minute.
This is a significant milestone in our roadmap, which brings a whole host of new features and enhancements for the network, including:
- Light Clients and Checkpoint Synchronization
- PVSS-based Random Beacon
- On-Chain Governance for Network Upgrades
- ROSE transfers between the Consensus Layer and ParaTimes
- Self-governing ParaTimes
Significantly, the launch of the Cobalt upgrade will enable us to expand the network’s toolkit with the release of the following innovative features by end of Q2:
- Introducing a high-level ParaTime SDK providing common functionalities, thereby facilitating the ParaTime developer experience
- Introducing a token bridge between ROSE and Ethereum which will unlock liquidity across both networks
To find out more about the Cobalt upgrade, head over to the GitHub page right now.
Validator Set Expanded to 100 Nodes
The mentioned network enhancements brought about by the Cobalt upgrade also expanded the number of nodes operating on the Oasis network from 80 to 100.
This increase now allows the top 100 nodes on the Oasis Network, based on their proportional share of total staked ROSE tokens, to be selected to serve on the network’s consensus committee unlocking a fantastic opportunity to earn staking rewards.
If you would like more information or want to run your own consensus validator node, just click here to find out how to get set up and begin earning staking rewards.
Building the All-New SDK
Beyond the Cobalt Upgrade, the Oasis Network’s core developers are hard at developing an all-new SDK that will make it easy for developers to launch their own customizable ParaTimes on the Oasis Network and to develop clients that interact with them and/or the consensus layer.
Features currently in development for the SDK include:
- Multi-denomination account module that supports different signature schemes (Ed25519, Secp256k1, multisig).
- A module that enables token transfers between the consensus layer and the ParaTime SDK-based ParaTime.
- Rewards disbursement module for incentivizing node operators to run the ParaTime.
- Testing and fuzzing framework to ensure module correctness.
The Oasis Network’s ParaTime layer can host many parallel runtimes called ParaTimes, each representing a replicated compute environment with shared state. The Runtime SDK will streamline the ParaTime development process, enabling developers to spin up new ParaTimes quickly. Developers will be able to customize their parameters to best meet their development needs and satisfy their core use cases.
You can learn more about the SDK features currently in development in the following public project board: https://github.com/orgs/oasisprotocol/projects/3
The Oasis-Eth ParaTime is now live!
The Oasis-Eth ParaTime developed by Second State has officially launched its Mainnet. The Oasis-Eth ParaTime makes it easy for developers to deploy Solidity smart contracts on the Oasis Network.
Additionally, developers can port over various DeFi applications, NFTs, and other Dapps from the Ethereum network. This is fantastic news, allowing the exciting opportunity to launch brand new Dapps exclusively on the Oasis Network to take advantage of the Oasis Network’s unique confidentiality and scalability features.
As a reward for operating nodes, Oasis-Eth ParaTime node operators can earn OETH tokens which are the native “gas” tokens used for processing transactions on the ParaTime.
Users pay OETH to process their transactions, after which the network burns the gas OETHs. There is a total fixed supply of 21 million OETHs which decrease as the network burns gas.
There will be no token sale, nor investors or any pre-mining of any kind. The team thoroughly believes that all tokens should be awarded overtime to node operators, developers, and the community.
Second State has officially distributed OETH rewards to ParaTime validators for the ParaTime’s first epoch. The launch of the second installment of the Oasis-Eth Hackathon has seen a surge of developer interest from around the globe.
Head over to https://www.oasiseth.org today to learn more about the Oasis-Eth ParaTime.
The Oasis-Ethereum Bridge Testnet is expected to launch in Q2. Developers have made significant progress on building the bridges UI for enabling users to easily swap between ROSE and ETH and all of the necessary backend integrations to unlock this functionality.
The bridge will also support any ERC20 tokens, and we are investigating adding support for custom addresses as well. In the future, we’d love for the bridge to be integrated inside Dapps instead of existing only as a standalone product: this will remove friction for the user and push true cross-chain interoperability.
We’ll soon have more details on the Testnet for the bridge, with the opportunity for node operators to earn rewards for completing bounties and reporting bugs. Stay tuned to our social channels for more information in due course!
Parcel Beta is now live!
Oasis Labs has officially launched the Parcel Beta release. With this launch, you can get access to all of Parcel Beta’s features, allowing you to implement data ownership and access policies for your users automatically; analyze data in a privacy-preserving environment and unlock data that was previously too regulated or risky to use — all while taking advantage of the Oasis Network’s confidentiality and scalability features.
At its core, Parcel is a privacy-first data governance SDK equipped with powerful privacy tools designed to protect and control access to your data. It distills years of privacy research and expertise into an easy-to-use SDK. The interface is designed specifically for developers looking to expand their app’s capabilities to include powerful data privacy and governance features.
You can learn more about the Parcel Beta release here: https://medium.com/oasis-protocol-project/introducing-parcel-beta-34d729553d8e.
The ROSE Bloom Grants Program is Funding New Projects
The Oasis Protocol Foundation recently launched the ROSE Bloom Grants program. We offer grants worth up to $50,000 USD to developers building applications and tools that add value to the Oasis Network.
You can browse the grant program rules and instructions here: https://github.com/oasisprotocol/community/discussions/17.
The Oasis Protocol Foundation has recently granted funding for the following projects:
- A new Oasis Wallet chrome extension (like MetaMask) for holding and transacting with ROSE tokens
- A new Oasis Wallet web app for holding and transacting with ROSE tokens
- A project migrating Uniswap V2 to the Oasis-Eth ParaTime, enabling decentralized exchange token swaps on the Oasis Network
- A private decentralized exchange that focuses on keeping confidential key transaction information such as transaction intention, the direction of each transaction, the amount of each transaction, and the gas limit/price associated with each transaction
We’re excited for the opportunity to work with even more developers from around the world on new applications and tools. You can submit your grant proposal here: https://oasisfoundation.typeform.com/to/HtYql2aN.
Submissions from around the world for the Oasis-Eth Hackathon
Second State and the Oasis Protocol Foundation came together again to celebrate the launch of the Oasis-Eth ParaTime with a second instalment of the Oasis-Eth Hackathon.
Developers from all over the globe submitted projects for three key bounties:
- Build & Deploy an ERC20 Token Contract on the Oasis-Eth ParaTime
- Build an NFT on the Oasis-Eth ParaTime
- Build & Deploy your Own Dapp on the Oasis-Eth ParaTime
Submissions are currently being judged by core team members from Second State and the Oasis Protocol Foundation. Winners could bag prizes of up to 200K ROSE tokens and up to 2K OETH tokens — the official tokens of the Oasis-Eth ParaTime.
The Open Defi Hackathon is happening now!
Hot on the heels of the Oasis-ETH hackathon, the Oasis Protocol Foundation is partnering with Open DeFi to launch Open DeFi’s first hackathon. This partnership unites the Oasis community with developer communities from their extensive member network to connect and grow the Defi ecosystem.
The event is running now until 23rd May, culminating with a summit and demo day.
The focus areas for the hackathon are:
- Liquidity: NFTs+DeFi, new token primitives, asset wrapping
- Risk management: Insurance, security, oracles
- Innovation: Project integrations, L2/cross-chain DeFi, new asset and governance models
In particular, the Oasis Protocol Foundation is sponsoring a bounty prize of $2000 in ROSE tokens for the top project focused on building a Defi app on the Oasis-Eth ParaTime.
Check out the rules and submit your project for a chance to win here: https://gitcoin.co/issue/oasisprotocol/oasis-quest-hackathon/4/100025620.
Building an Oasis Wallet Chrome Extension
Bit Cat has received a grant from the Oasis Protocol Foundation to develop a non-custodial Oasis Wallet Chrome extension, similar to the popular MetaMask extension. This will enable Oasis community members and developers to hold, send, and receive ROSE tokens right from their web browser.
Bit Cat has made great progress on building the front-end UI for the Chrome extension, as well as getting close to completion on the base code for the application. The project’s GitHub repo will soon be opened to get feedback from the broader community.
Building an Oasis Wallet Web App
Another one of our grant recipients has been hard at work building a non-custodial web wallet for ROSE tokens. This wallet is still a work in progress and is not compatible yet with the Oasis Network Mainnet.
You can check out the project and share your feedback on the project’s GitHub repo: https://github.com/esya/oasis-wallet#features.
The wallet currently has the following key functionality:
- Opening wallets through private key or mnemonic phrase
- Displaying transaction history
- Multiple languages (English and French currently supported)
- Submitting transactions
- Ledger support
- Multiple accounts, open in parallel
Also in development are these features:
- Staking (Adding/reclaiming escrow
- Staking rewards and history
- Debonding status
- Displaying various account and network stats
- OETH token support
That’s all for now! If you are developing on the Oasis Network and want your progress to be included in this monthly update which is viewed by thousands of readers, please email us at firstname.lastname@example.org