devcon 4 / privacy preserving smart contracts at scale
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Privacy-preserving Smart Contracts at Scale
Duration: 00:30:12
Speaker: Noah Johnson
Type: Talk
Expertise: Beginner
Event: Devcon
Date: Invalid Date
In this talk we'll describe Oasis, a platform for privacy-preserving smart contracts at scale. Oasis addresses two critical issues of today's platforms: poor scalability and a requirement that all data is public. These platforms cannot support many exciting use-cases which have complex application logic (e.g. machine learning) or require protection of user or application secrets (e.g. data markets). Oasis is a layer 1 blockchain platform that scales to complex workloads such as machine learning and protects data via secure computing techniques. Oasis's scalability stems from the novel separation of computation and consensus in a layered design. This design allow transactions to execute in parallel before validation by the consensus layer, thus alleviating a major source of congestion and enabling new verifiable computing techniques that dramatically reduce replication needed to ensure integrity. Oasis uses a proof-of-stake consensus algorithm tailored for this architecture and supports multiple secure computing models (trusted hardware, multi-party computation, zero-knowledge proof) based on security and performance requirements. We'll summarize the Oasis protocol and discuss real-world applications built on Oasis in as credit scoring, medical data sharing, and blockchain-based games. We'll describe how Oasis enables these exciting applications to run directly on-chain, avoiding the need for off-chain computation.
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