Oasis Cipher ParaTime
Oasis Network is a layer-one, PoS decentralized network that has a consensus layer and a ParaTime layer. The consensus layer is fully decentralized with 100 validators distributed across the globe. The ParaTime Layer hosts many parallel runtimes (ParaTimes), each representing a replicated compute environment with shared state. Oasis Foundation plans to launch the Cipher ParaTime soon, which will be the second ParaTime on the network, following Oasis-Eth ParaTime.
What’s Oasis Cipher ParaTime?
Oasis Cipher ParaTime is the first ParaTime developed based on the ParaTime SDK and will host interoperability modules, Wasm-based smart contracts and confidentiality features. It will run on SGX-based compute nodes and use ROSE as the native token for paying fees. One of the first applications being built on the ParaTime is a privacy-preserving DEX. Beyond that, the ParaTime aims to support the whole private DeFi ecosystem as well as a broad range of privacy use cases.
- 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
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.
- 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.
The Oasis Protocol Foundation plans to do an incentivized Testnet for the ParaTime before the official launch. Here are the Testnet bounties.
The Meaning Behind the Name
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.