The Oasis-Eth ParaTime is Live on Mainnet. Join the Hackathon!

Build DApps and earn ROSE in the Oasis-Eth Hackathon

Published in

Oasis Foundation

5 min readMar 5, 2021

Overview

The Oasis-Eth ParaTime by Second State is live on Mainnet of the Oasis Network! It launched successfully and has 18 nodes registered to operate on the ParaTime.
The ParaTime is designed with support for EVM and has support for the entire solidity tool chain but with better performance and lower gas fees than Ethereum.
Starting on March 16th, we’re hosting the second edition of the Oasis-Eth Hackathon! Participate in the challenges below to earn rewards and learn about the ParaTime.

Oasis-Eth is Live On Mainnet!

We’re excited to announce that the Oasis-Eth ParaTime is now live on the Oasis Mainnet. This means developers will now be able to deploy DApps on the ParaTime and take advantage of the entire solidity toolchain right on the Oasis Network.

The Oasis-Eth ParaTime is much more performant than Ethereum with throughput an order of magnitude higher and only 6s confirmation times. Plus with gas fees that are less than 1% of those on Ethereum — using and running DApps on the Oasis Network is much more affordable. As the Oasis Network expands its support for confidential smart contracts, DApps running on OETH will be able to access the latest in confidential compute technology — helping keep data private and protected.

As the Oasis Network grows, we at the Foundation are eager to expand the number of ParaTimes available to developers — allowing them to build new, powerful applications for blockchain with a diverse ecosystem of compute environments. Second State’s development of the Oasis-Eth ParaTime is a fantastic example of how we’re fostering a decentralized and versatile network.

If you’d like to get started building on the Oasis-Eth ParaTime, check out the Hackathon challenges below for prizes, or apply for a grant from the Oasis Foundation.

What is a ParaTime?

The Oasis Network is made up of two main parts, the consensus layer and the ParaTime layer. These parts work together to create a powerful yet versatile blockchain. The Consensus Layer is a scalable, proof-of-stake consensus run by a decentralized set of validator nodes. ParaTimes connect to the Consensus Layer and periodically submit a record of their transactions to be stored by the validator nodes on the Ledger.

Each ParaTime is made up of set of compute nodes, which provide a compute environment for smart contracts that can be customized for a broad set of use cases. The Oasis-Eth ParaTime that is going live today is built by the Oasis community member Second State, but ParaTimes can be built and deployed onto the Oasis Network by anyone. The community is actively working on additional ParaTimes such as the Ethereum Bridge ParaTime and the Oasis Labs Parcel ParaTime.

This unique architecture allows transactions to be processed in parallel and for each ParaTime to be developed in isolation — allowing the Network to grow and adapt as the needs of the ecosystem change.

For more on ParaTimes and how they work, checkout our Technology page.

Running a node on the Oasis-Eth ParaTime

With the launch of the Oasis-Eth ParaTime we’re inviting any interested node operators to join the ParaTime and earn rewards for running a node. Currently there are 18 nodes from projects like Staking Fund, WeTez, RockX, and Simply VC participating in the network, and we at the Foundation would love to have more! If you’d like to sign up visit our docs page here.

The Oasis-Eth Hackathon: Part 2

To celebrate the launch we’re bringing back one of our most exciting hackathons for a second edition. The second installment of the Oasis-Eth Hackathon is a great opportunity to test out the Oasis-Eth ParaTime and get started on a new project — all while earning rewards.

The Hackathon will take place from March 16th — April 16th.

Hackathon Challenges

There are 3 challenges for you to complete. To earn rewards you must complete at least one of the challenges and submit it using the submission form here. Additional terms and conditions apply. See details here.

The Hackathon will leverage Second State’s development environment which you can find on their website here.

Note: Repeat submission from previous Oasis-Eth Hackathons for either Challenge #1 or Challenge #2 will not be considered.

Challenge #1: Build & Deploy an ERC20 Token Contract (50 ROSE & .5 OETH)

For the final challenge, create and publish an ERC20 token contract. This can be an existing ERC20 from Ethereum or an entirely new one.

Where: Use Second State’s development environment to build and deploy your ERC20 token contract.

How to claim your reward: Submit the address for your ERC20 token contract here.

Challenge #2 — Build an NFT (100 ROSE & 1 OETH)

Create and publish your own NFT on the Oasis-Eth ParaTime. This should be a unique NFT that you have created yourself. We’d love to see NFTs that reference the Oasis Network, ROSE imagery, or the values and vision of the Network.

Where: Use Second State’s development environment to build and deploy your DApp.

How to submit your NFT: Submit the contract address, token ID, and contract code of your NFT here.

Challenge #3: Build & Deploy your Own DApp (Up to 3 DApps can win up to 200K ROSE and up to 2k OETH)

Create and publish your own DApp that is substantially different from the Oasis-Eth Tutorial. This can be a new DApp or something you’ve ported from Ethereum. Up to 3 DApps will each be eligible to win a maximum of 200k ROSE and up to 2k OETH. The winning DApps and their reward amounts will be determined by the Oasis and Second State Team.

We’ll consider all submission for the top prizes, but we’re particularly interested in DeFi DApps like DEX’s and lending platforms.