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News Link • Blockchain

Oasis labs Privacy first blockchain that is 2–4 orders of magnitude faster than on-chain...

• https://www.nextbigfuture.com, brian wang

Oasis Labs is building a privacy-first, high-performance cloud computing platform on blockchain.

Oasis created the Ekiden platform. Ekiden is a system for highly performant and confidentiality-preserving smart contract execution. To the best of their knowledge, Ekiden is the first confidentiality-preserving smart
contract system that can perform thousands of transactions per second. The key to this achievement is the effective combination of blockchains and trusted hardware. Ekiden combines any desired underlying blockchain system (permissioned or permissionless) with TEE-based execution. Anchored in a formal security model that is
expressed as a cryptographic ideal functionality, its principled design supports rigorous analysis of its security properties. 

Ekiden uses compute nodes to perform smart contract computation over private data off chain in TEEs, then attest to their correct execution on chain. The underlying blockchain is maintained by consensus nodes, which need not use trusted hardware. Ekiden is agnostic to consensus-layer mechanics.

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