Unlocking the Power of Privacy: Oasis Blockchain Introduces the Privacy Layer for Web3

Maria Irene

The Oasis blockchain has recently introduced a groundbreaking privacy solution called the Oasis Privacy Layer, which is powered by Sapphire. This revolutionary innovation allows Solidity developers to build privacy-centric decentralized applications (dApps) and even add confidentiality to existing dApps on popular Ethereum Virtual Machine (EVM) networks.

Sapphire’s launch on testnet in Q3 demonstrated its potential to address the blockchain privacy paradox. By providing a confidential EVM developer environment, Sapphire showcases the flexibility of the Oasis Network and its customizable ParaTime layer.

The Oasis Privacy Layer extends Sapphire’s functionality to popular dApps on all familiar EVM chains. This enables these dApps to leverage Oasis’ privacy technology without the need for migrating their entire application and user base to a different blockchain.

Sapphire eliminates the limitations of traditional EVM networks by using private smart contract states and encrypted transactions. This breakthrough enables the creation of new privacy-enabled dApps, such as Wordleish, a fun blockchain-based game similar to the viral Wordle game.

The Oasis Privacy Layer is not limited to new dApps. Existing dApps can also benefit from on-chain privacy by using Sapphire’s privacy features. For example, DAOs hosted on other EVM networks can implement “secret ballot” proposals, allowing members to submit votes secretly while maintaining trustless on-chain voting.

To achieve this, a secret ballot smart contract is deployed on the EVM-compatible Sapphire runtime. The DAO contract on the home chain initiates voting for a proposal by sending a message to the secret ballot contract over a message-passing bridge. DAO members submit their votes as encrypted messages, and upon the conclusion of voting, the final result is reported back to the DAO on the home chain via the bridge.

The Oasis Privacy Layer addresses the critical lack of privacy in the blockchain ecosystem. Oasis aims to scale blockchain to Web3 and provide a robust, configurable, functional privacy layer. With the Oasis Privacy Layer, the hard work already done on other chains with established dApps can access Sapphire’s unique privacy capabilities without any sacrifices.

As the Oasis Network gears up for the mainnet launch of Sapphire, it invites developers to experience building confidential dApps in Solidity and even offers grants for those interested in building on Sapphire. If you’re interested in utilizing the Oasis Privacy Layer for your dApps, don’t hesitate to get in touch with the Oasis team.

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Maria Irene
Maria Irenehttp://ledgerlife.io/
Maria Irene is a multi-faceted journalist with a focus on various domains including Cryptocurrency, NFTs, Real Estate, Energy, and Macroeconomics. With over a year of experience, she has produced an array of video content, news stories, and in-depth analyses. Her journalistic endeavours also involve a detailed exploration of the Australia-India partnership, pinpointing avenues for mutual collaboration. In addition to her work in journalism, Maria crafts easily digestible financial content for a specialised platform, demystifying complex economic theories for the layperson. She holds a strong belief that journalism should go beyond mere reporting; it should instigate meaningful discussions and effect change by spotlighting vital global issues. Committed to enriching public discourse, Maria aims to keep her audience not just well-informed, but also actively engaged across various platforms, encouraging them to partake in crucial global conversations.

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