Thread by @ECrypto0

So @oasisprotocols latest product, the Oasis Privacy Layer (OPL) is here to change #web3 for the better.

Understanding the magnitude of this development for the industry can be challenging, so here is my attempt to break it down

Mega Thread🧵Read on

#privacy #AI #BigData $ROSE

2) In order to understand OPL, we first need to start with the Oasis Sapphire paratime.

Sapphire is the first and only confidential #EVM network for #web3.

What does it mean to be a confidential EVM though?

3) Essentially what this means is that Sapphire has the ability to create confidential smart contracts. Smart contracts with the ability to hide aspects of state.

Hiding aspects of state vastly expands what can be done with smart contracts enabling more sophisticated use cases

4) The use cases this offers to #web3 are endless

#GameFi - Games no longer have to move aspects off-chain in order to incorporate confidential logic

#MEV - Institutional adoption of #defi needs privacy. Sapphire can prevent bots from front running

tinyurl.com/3uuf9b78

5) Uses continued

Confidential DAO voting - much needed flexibility and #privacy in their governance model

Digital identity and #KYC - Through @oasisprotocols partnership with @Equifax, gaining the ability to on board their 800m+ customers to #Web3 whilst keeping users private

6) What is OPL though?

Well the key idea behind OPL is to offer the ability for applications to leverage confidential smart contracts, not just for those built natively on @OasisProtocol

Through OPL, any #EVM network Dapp can incorporate #privacy with ease

@BNBCHAIN @ethereum

7) How is the user impacted?

One additional click within @Metamask is all it takes. No bridges, no need for multiple wallets or even holding $ROSE as the user

@Oasisprotocol offers the Layer 2 solution that means the user never need to deviate from their native chain

8) How though? By using gas relayers - Sapphire transaction fees are paid in the gas token of the home network (#BSC = #BNB)

Sapphire can almost be entirely abstracted away from the user experience

Gas relayers are required to consistently buy and transact in $ROSE

9) In 2022 #defi total transaction values were $850B. Every protocol used to transact would benefit from this customisable #privacy.

If the solution of privacy on chain can be done compliantly, securely and with customizability, why would anyone not use this?

They wouldn’t

10) Mass adoption of this revolution of #privacy in all EVMs would give the $ROSE token incredible demand and consistent use case across the entirety of #EVM ecosystems.

What do you think that might do to a project with a $350M market cap?👀

#ETH #BSC #Polygon #FTM #100x

10) A good example of where this will start would be with #Binance and #BSC

At the upcoming @EthereumDenver in March, @oasisprotocol and @BNBchain have a workshop to build and demonstrate privacy. Sounds like #privacy could be coming to Binance Smart Chain

11) This leads onto another extremely noteworthy point of @cz and @binance’s involvement with @OasisProtocol

They are original backers and significant ecosystem funders. Binance has accumulated over 2b~ of the 6b~ circulating $ROSE tokens

They have 4x its hold over 12 months..

12) Why would @CZ/@binance need to have collected so much $ROSE?

Because there are bigger plans for BSC than its current form

He has recognised that $ROSE is the oil to the machine and building his reserves ready for the next #privacy revolution

#Binance #BNB #BSC

13) In summary, I believe @OasisProtocol launching OPL will be the underpinning of privacy across #Web3

To give you confidence they have the ability, this is built by the best minds in the world. With backgrounds from @UCBerkeley @DARPA @Cornell @Google @GoldmanSachs @Apple etc

14) To support the implementation of the Oasis Privacy Layer across #Web3 and the teams over at @OasisProtocol and @OasisLabs, some of the most influential backers in #Crypto are behind the project

15) If you want to explore @oasisprotocol and $ROSE in more detail, I’ve compiled my years of exposure to the network within one easy Research Cheat Sheet, allowing you to catch up on everything going on

https://twitter.com/ECrypto0/status/1619485654597120000

#AI #BigData #rose

16) To read more about @Oasisprotocol’s Sapphire paratime and OPL, you’ll find more information here

oasisprotocol.org/blog/the-oasis…

#privacy #Web3 #blockchain

I hope this thread has shed some light on what is coming to #web3 in the coming months and years

Trying to articulate the magnitude of this development can be challenging and I feel I’ve only scratched the surface of what is brewing.

Thank you!

$ROSE @Oasisprotocol #privacy