Oasis Network News

Oasis Foundation Announces The Sapphire ParaTime — the Newest Addition to its Network

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Oasis Foundation

The Sapphire ParaTime just became the first EVM-compatible ParaTime to join Oasis Network. According to the Oasis Foundation’s recent announcement, the project is currently live on the Oasis testnet, and its goal is to empower developers by providing them with the ability to create privacy-enabled dApps for a brighter and bolder Web3 future, as the announcement says it.

As such, the Sapphire ParaTime is the latest addition to the Oasis Network, and many are excited to see how it will change it.

The Oasis Foundation also published a more detailed post on its Medium account, noting that the move was made as part of the plan to grow and improve the Oasis Network architecture. The project also noted that the introduction of Sapphire is the next step that the Oasis made, and it follows on from the successful launch of the project’s original EVM ParaTime, Emerald.

Why is Sapphire ParaTime so important?

The Oasis Network was imagined to operate a modular architecture that would separate smart contract execution from consensus. Consensus is reserved for the Consensus Layer, while the network’s contracts run on the ParaTime Layer. The ParaTime layer can allow different runtimes, which means that the developers will be able to work in new, more dynamic environments based on their needs.

With Sapphire joining the network, it will enter the industry as a completely unique and first-of-its-kind confidential EVM computing environment. The developers using Solidity, for example, will now easily be able to take advantage of the new and unique privacy-preserving technology that the Oasis Network has to offer, all thanks to the fact that it can provide a more familiar development environment.

This is very advantageous for situations where the project wishes to onboard Solidity-based projects and to introduce developers who have experience with Solidity but now wish to switch to a different network.

The rise of data privacy

Furthermore, Oasis understands the importance of privacy in Web3, marking it as one of the founding pillars of this future version of the internet. This is why it is important for it to be able to provide an environment where privacy-enabled dApps can run on the blockchain and propel the space forward, offering a better online world for the new generations of internet users.

The devs also noted that they inspected the depth and breadth of the EVM developer community. One thing that they learned is that Solidity developers lacked the options to create privacy-enabled applications, which is why they decided to dedicate themselves to enabling those. This is highly important right now when the world is trying to move on from Web2 and into Web3, and that move requires a deeper focus on privacy and data ownership.

Fortunately, both of these are core values that are already propositions at Oasis. Now, with Sapphire enabled, developers will finally have access to world-class privacy-preserving tech that Oasis can offer and allow them to be part of a brand new, responsible data economy.

To learn more visit our Investing in Oasis Network guide.

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Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.