Oasis is proud to announce its approval for grant funding to be awarded to deltaDAO AG to support their development of the Oasis Network compute layer. With the awarded grant, deltaDAO will develop a new parallel runtime (a.k.a., ParaTime) environment on Oasis. Behind this effort by deltaDAO is their overarching mission to safely and securely bridge the worlds of Web2 and Web3, which the Oasis Grants Program is proud to support.
Since its inception in 2018, the Oasis Network has pioneered a layered approach to network design with the separation of its consensus and compute layers. Parallel runtimes are replicated compute environments with shared state running on the Oasis Network’s compute layer. Anyone can develop and launch their own Oasis runtimes, and multiple runtimes can process transactions in parallel without slowing down any other runtimes.
deltaDAO recognizes the powerful efficiency and confidentiality of Oasis runtimes, which motivated their decision to launch their own alongside existing runtimes like Sapphire, Emerald, and others. Working with over 100 leading brands and institutions in Web2 to migrate into Web3, deltaDAO chose the most flexible and customizable confidential technology among alternative models (i.e., sharding or parachains), in order to deliver a powerful solution for the future of deltaDAO.
Although other types of application-specific blockchains offer slightly similar developer and user experiences in some ways (e.g., Polygon supernets and Avalanche subnets), parallel runtimes on Oasis offer unparalleled privacy and network security assurances. In fact, the battle tested confidential compute and private smart contract storage of Oasis runtimes were important factors that motivated deltaDAO to build on Oasis. Inheriting the full security of the Oasis Network protocol to their ParaTime, moreover, underscores the robust protection afforded to runtime environments on Oasis, similar to the inherited attributes of Ethereum rollups. In short, this design positions Oasis as a uniquely scalable, versatile, and privacy-first ecosystem accessible to any Web3 developers.
“Our mission is to lead this industry into a future where data is a securely managed asset, supporting sustainable, scalable and ethical business models, and a self-sovereign responsibility,” said Albert Peci, Co-Founder of deltaDAO. “We are proud to be supported by the Oasis Foundation as we build our own runtime environment on their network for a scalable digital service ecosystem.”
Oasis approved the grant for deltaDAO in early January, marking the second grant approved so far in 2024. Development of the deltaDAO runtime will begin in Q1 and continue throughout most of 2024. As part of the development phase, deltaDAO will customize all aspects of their runtime, including their validator set, gas token, confidentiality parameters, and more with help from Oasis engineers as needed.
“Oasis is thrilled to support deltaDAO’s runtime project to expand the utility of the network’s confidential compute layer,” said Matej Janež, Business Development Lead at the Oasis Foundation. “Innovative teams like deltaDAO recognizing the superiority of Oasis runtimes is a strong validation of Oasis Network technology and paints a bright future for the entire ecosystem.”