Thread by @expctchaos

0/ @OasisProtocol is a modular blockchain network that separates execution from consensus by design. Oasis supports customized ParaTimes (rollups with custom VM implementation) & aims to be a shared security layer for rollups 🌀

A 🧵 on $ROSE and why it matters (0/23) 👇

@OasisProtocol 1/ @OasisProtocol is built on the @Cosmos SDK, uses Tendermint BFT consensus and natively separates execution (or computation) from consensus and has a two-layered architecture:

- Consensus Layer

- ParaTime Layer

@OasisProtocol @cosmos 2/ Consensus Layer:

The consensus layer accepts data from its clients (the ParaTimes) & writes the data into a block of the chain. The meaning of the data generated by a ParaTime is entirely defined by that ParaTime, making ParaTimes flexible & the consensus layer VM-agnostic

@OasisProtocol @cosmos 3/ ParaTime Layer:

ParaTimes are where smart contract execution occurs. Each ParaTime defines its own smart contract execution environment and chooses the mechanism & associated parameters used to verify results of smart contract execution

@OasisProtocol @cosmos 4/ This architecture makes the #Oasis network optimized for rollups, strongly discouraging general computation on the consensus layer. $ROSE only allows built-in contracts to run on the consensus layer. These contracts are the validating bridge contracts for rollups

@OasisProtocol @cosmos 5/ Currently, there are three ParaTimes live on the #Oasis network, built by the @OasisProtocol team:

- Emerald ParaTime

- Cipher ParaTime

- Parcel ParaTime

@OasisProtocol @cosmos 6/ Emerald ParaTime:

An EVM-compatible ParaTime, essentially running as an optimistic rollup (see tweet 9) on top of @OasisProtocol's consensus layer.

@OasisProtocol @cosmos 7/ Cipher Paratime:

A confidential smart contract ParaTime, implemented as an optimistic rollup on the $ROSE consensus layer. It's optimized for privacy-preserving smart contracts, enabling private & secure asset storage, frontrunning-free DEXes and other privacy use-cases

@OasisProtocol @cosmos 8/ Parcel Paratime:

Optimistic ParaTime, enabling governance, confidential computation & private data analysis. Application devs can use the Parcel SDK to integrate privacy-preserving data storage, governance & computation into their applications

@OasisProtocol @cosmos 9/ These ParaTimes use Oasis’s validating bridge in the consensus layer, which uses a bare metal fraud-proof style system, where a technique called “discrepancy detection” is used to detect fraud & “discrepancy resolution” to resolve it

@OasisProtocol @cosmos 10/ While the @OasisProtocol's consensus layer bakes in discrepancy detection, it is architecturally extensible to allow other rollup technologies to be implemented

@OasisProtocol @cosmos 11/ When zk-rollup proof schemes mature enough for general computation, a zkSNARK verifier would be a great addition, especially since validating bridges implemented in Go should run much faster than Solidity smart contracts (e.g. on $ETH)

@OasisProtocol @cosmos 12/ In any case, independent ParaTimes offer a high degree of flexibility for ParaTimes to customize according to:

- Security Needs

- Performance Needs

- Other (external) Factors

@OasisProtocol @cosmos 13/ Security/Privacy Needs:

Different ParaTimes can be optimized for confidential smart contracts versus integrity-only smart contracts

@OasisProtocol @cosmos 14/ Performance Needs:

ParaTimes can use custom VMs and are free to implement recursive rollup structures to achieve further scale

@OasisProtocol @cosmos 15/ Other (external) Factors:

Enterprises may require that their private ParaTimes execute only on a specific designated set of server nodes, so that they run on-premise or within particular legal jurisdictions

@OasisProtocol @cosmos 16/ Personally, I think especially natively enabling confidential smart contract execution in ParaTimes is a powerful feature

Why #privacy matters 👇

https://twitter.com/expctchaos/status/1484546235549822978

@OasisProtocol @cosmos 17/ For example, in ParaTimes that use encryption techniques such as FHE, an observer of the contract state cannot determine what it is doing unless the observer has the cryptographic keys that encrypted the input values for the FHE contract

@OasisProtocol @cosmos 18/ For ParaTimes that use TEE-based computation, contract execution occurs within the TEE environment & contract state is encrypted before being stored on-chain

@OasisProtocol @cosmos 19/ Additionally, the Parcel ParaTime supports the tokenization of data, enabling the privacy-first applications & a responsible data economy. A ver unique feature of $ROSE

@OasisProtocol @cosmos 20/ Data providers on @OasisProtocol can put their tokenized data to use by staking their data with apps that want to analyze it. Thereby, users are able to control how their most sensitive information is consumed by the services they use

@OasisProtocol @cosmos 21/ So, where does $ROSE stand compared to #Celestia?

As mentioned in my thread on @0xPolygon Avail, I see a future with multiple DA & settlement layers. However, @OasisProtocol is less minimal in design than @Celestia or Avail, as it includes settlement in the consensus layer

@OasisProtocol @cosmos @0xPolygon @celestia 22/ I think @CelestiaOrg or Polygon #Avail's more minimal approach & use of a light node network that contributes to network security through data availability sampling on erasure coded blocks (with increasing block size enabled by increasing # of light nodes) is more scalable

@OasisProtocol @cosmos @0xPolygon @celestia @CelestiaOrg 23/ However, I think @OasisProtocol has its place as it enables a variety of interesting use cases. The customizable nature of ParaTimes & natively available privacy features are especially attractive for certain enterprise-grade services imo