Section 1.1: Design Objectives

The Oasis Network Blockchain has established five primary design objectives:

• Flexibility: System parameters are easily adjustable, such as constraints on ParaTime nodes.
• Extensibility: New components can seamlessly integrate into the existing architecture, including additional ParaTimes.
• Scalability: The network is designed to increase transaction throughput as it expands.
• Security: The architecture is built to enforce security protocols, primarily by executing computations in private environments.
• Fault Isolation: Issues in one component (like security breaches or performance setbacks) do not impact other components.

Section 1.2: Core Principles

The Oasis Network Blockchain operates on three foundational principles:

• Modular Architecture: Each ParaTime functions as an isolated module, ensuring a clear separation between consensus and smart contract execution layers.
• Simplified Consensus Layer: This layer focuses solely on managing validator committee operations, including token transfers and staking.
• Independent ParaTimes: Each ParaTime runs autonomously, allowing for tailored security and performance measures to be implemented.

This video discusses the potential of ROSE as a privacy token during a market bull run, highlighting its unique advantages.

Section 1.3: Network Architecture

Oasis Network comprises two principal layers:

1. Consensus Layer: This layer manages:
   • Receiving inputs from clients (ParaTimes).
   • Recording transactions submitted by ParaTimes onto the blockchain.
   • Selecting validators and ParaTime committees.
   • Conducting consensus operations.
   • Managing operations involving native tokens like staking.

The consensus layer is based on a simple Byzantine Fault Tolerance (BFT) / Proof of Stake model powered by the Tendermint BFT consensus mechanism.

2. ParaTimes Layer: This layer is responsible for:
   • Defining the environment for smart contract execution.
   • Outlining the semantics for exposed interfaces.
   • Establishing mechanisms for verifying contract execution.
   • Implementing confidentiality measures for smart contract operations.

The network supports two types of ParaTimes: TEE-based ParaTimes, which require a "Key Manager" for encrypting states, and FHE-based ParaTimes that operate exclusively on encrypted data without the need for a Key Manager.

Section 2.1: Discrepancy Detection

Discrepancy Detection enhances security and alleviates computation from larger node pools. The process includes these steps:

• A compute committee is randomly selected and assigned computation tasks.
• Members of the committee perform computations, sign the results, and relay them to discrepancy detectors using a gossip protocol.
• If the results are consistent, detectors forward them to validators for consensus. In cases of discrepancies, the results are flagged, a resolution phase initiates, and the involved compute nodes face penalties.

This approach allows for a significantly smaller committee size compared to traditional BFT models while maintaining robust security.

Section 2.2: Parallel Runtimes

Oasis Network facilitates the execution of parallel ParaTimes, allowing each ParaTime to interface with the consensus layer and communicate with one another through Inter-Blockchain Communication (IBC) protocols.

• Private Computation Runtime: Utilizes the TEE model for efficient execution of confidential smart contracts.
• Non-Confidential Computation Runtime: Ensures verifiable computations without encryption of smart contract states.
• Smart Contract APIs: Provides bindings for smart contracts written in various programming languages such as Rust and Solidity.

Section 2.3: The ROSE Token

ROSE is the native token of the Oasis Network Blockchain, serving three primary purposes:

• Transaction fees
• Staking
• Delegation within the consensus layer

The total supply of ROSE tokens is capped at 10 billion, distributed across six categories over time:

• Approximately 2.3 billion tokens (23.5%) will be allocated for Staking Rewards.
• 23% were sold directly to backers prior to the mainnet launch in 2018.
• 20% were granted to the project's Core Contributors.
• 10% were designated for the Oasis Network Foundation Endowment.
• 18.5% are allocated for developer grants and community incentives.
• 5% are reserved for funding programs and partnerships within the Oasis Network.

At the mainnet launch, only 1.5 billion of the 10 billion tokens were in circulation. The Oasis Network's roadmap outlines a distribution plan for the remaining tokens over the next decade.

Section 2.4: Staking Mechanisms

Participants can operate validator nodes on the Oasis Network to earn staking rewards. The network allows a maximum of 110 validators, selected based on their staking weight, with a minimum threshold of 100 tokens.

Staking rewards can range between 2% and 20%. To qualify for rewards, each validator must sign at least 75% of blocks in each epoch. In cases of double-signing, the network penalizes by slashing the minimum stake and freezing the node. A 14-day unbonding period applies during which staked tokens are at risk of being slashed for double-signing and will not accrue rewards.

This video shares insights on the Oasis Network (ROSE), discussing its features and potential in the blockchain ecosystem.

Disclaimer: This article is for informational purposes only and should not be regarded as financial or legal advice. For accurate guidance, consult a financial professional before making significant financial decisions.

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