Oasis May Engineering Update

Our monthly update on all things technical!

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 catch up with all the latest developments.

Oasis Core & Infrastructure Updates

We recently released Oasis Core version 21.1 and will soon be releasing Oasis Core version 21.2, implementing important support functionality to enable the upcoming launch of the ParaTime SDK, as well as several optimizations for the network.

You can see the full range of completed features to be released in Oasis Core 21.2, as well as features that are currently in development here.

ParaTime Updates

Announcing the Cipher ParaTime developed by Oasis

We’re excited to share that the Oasis ParaTime now has an official name: the Cipher ParaTime. This will be the first ParaTime built from the ground up using the ParaTime SDK!

The Cipher ParaTime name pays homage to the field of cryptography and the Oasis Network’s focus on data privacy. In cryptography, a cipher is an algorithm for performing encryption or decryption. “Cipher” comes from the Arabic word “sifr” which means “nothing” or “zero.” The word came to Europe along with the Arabic numeral system. As early codes substituted numbers for letters to hide a word’s meaning, these secret codes became known as ciphers. If you solve a cipher, you break the code and can understand the underlying hidden message. Ciphers, and cryptographic codes more broadly, have been used since the dawn of modern civilization to ensure that important information is kept private and secure. We hope the Cipher ParaTime will continue this tradition by enabling the next generation of privacy-preserving applications. We look forward to working with our community of node operators to launch the Cipher ParaTime and set the foundation for a better internet.

Core Features:

  • Fully decentralized with node operators distributed across the world
  • Oasis ROSE tokens will be the native token used in the ParaTime for gas fees
  • Support for WebAssembly smart contracts
  • Support for confidential compute

Our team is working on finalizing the following components before launch:

  • Documentation
  • Deterministic builds
  • Convenience macros

How to join the Cipher ParaTime?

  • To be eligible to be a ParaTime node, you would need be a validator on the Oasis Network consensus layer. Here is the register of all the validators on the consensus layer.
  • All ParaTime nodes are required to have SGX available. Here are the instructions on how to run an SGX node.

ParaTime Incentives

  • The ParaTime will release tokens on-chain to reward nodes for participation.
  • The reward program is 2 years long, and tokens will be released per epoch.
  • The reward will be 10~20 ROSE tokens per entity per epoch, where the Oasis Protocol Foundation will make the final decision on the reward size upon the testnet launch. Epochs are currently produced at a one per hour speed and each node has 1/3 of chance of being selected in the primary committee to claim the rewards, hence a node entity can earn 80~160 ROSE tokens per day and 2400~4800 ROSE tokens per month.

Learn more about the Cipher ParaTime here. Stay tuned for more information regarding the incentivized testnet coming soon!

Bridge Update

The backend implementation for the Oasis-Ethereum bridge is near completion. Our team is now working on finalizing the user interface to enable users to interact with the bridge, engage in Oasis-Ethereum token swap transactions, and sign their transactions.

You can review the code for the bridge here: https://github.com/oasisprotocol/oasis-bridge

We’ll share more information about the launch of the bridge in the coming weeks.

Developer Platform Updates

Update on the ParaTime SDK

The Oasis Network’s core developers have made significant progress toward releasing 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.

Over the past several weeks, our team has completed building the following ParaTime SDK features:

  • Multisig support
  • Gas model and accounting mechanism — a simple gas model and corresponding accounting mechanism, similar to what we do in the consensus layer, with each operation costing a specific amount of “gas.” The gas limit and fee then implicitly define a gas price, and nodes can decide to set a minimum price that they will accept.
  • Rewards module — module for disbursing rewards to node operators; rewards come from a specific module account and are disbursed according to a genesis configuration parameter
  • Consensus layer interaction module — a module that supports interacting with the consensus layer via runtime messages for transferring tokens from consensus layer, transferring tokens to consensus layer, and staking tokens in the consensus layer
  • Transaction and query end-to-end fuzzying tests, similar to what we have with txsource workloads in Oasis Core
  • Making the current consensus layer epoch number available to the runtime
  • And many more features

You can learn more about the SDK features currently in development in the following public project board: https://github.com/orgs/oasisprotocol/projects/3

Data Tokenization: A Technical Primer

Oasis Labs recently published a primer outlining their plan to update the Parcel SDK to include robust data tokenization features and enable private data marketplaces. This would allow for NFTs to be minted that represent ownership and access to specific datasets, paving the road for entirely new use cases for the Oasis Network, ROSE, and NFTs for broadly.

Check out the full story in Oasis Labs recent blog here.

Open DeFi Hackathon Winners Announced

The Oasis Foundation partnered with Open DeFi to launch Open DeFi’s first hackathon, bringing together the Oasis community with developer communities from their extensive member network to connect and grow the DeFi ecosystem. The event ran for 3 weeks and concluded with a summit and demo day.

The Oasis Foundation sponsored a bounty prize of $2000 in ROSE tokens for the top project focused on building a DeFi app on the Oasis-Eth ParaTime.

The winning projects were:

  1. Tulip Swap — An automated market maker that allows tokens to be exchanged on the Oasis-Eth Paratime. Users can also participate in Yield Farming to earn TULIP tokens.
  2. MicroMix — A mixer that moves ETH or ERC20 tokens from one address to another in a way that nobody except the sender can know for sure that these addresses are linked.
  3. Rosebud Finance — A “Uniswap” type product that allows you to swap tokens on the Oasis-Eth ParaTime.

Oasis Wallet Coming Soon

One of our grant recipients has been hard at work building a non-custodial web wallet for ROSE tokens, and this wallet will be launching on the Oasis Network testnet in the coming weeks!

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

Stay tuned for information on our upcoming Oasis Wallet Tester Program, which will give you the opportunity to help test and provide feedback on this new Oasis web wallet.

Stay Connected

If you are working on Oasis and you want your progress to be included into this monthly update, please email us at info@oasisprotocol.org

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