Participate with confidence based on Bison Trails’ experience and expertise with the Oasis network. We worked with the Oasis team for over a year as the protocol progressed towards mainnet launch, advising on infrastructure and rollout plans, how to structure the incentivized testnet, the Oasis University Program, and general community-building.
We are the top community contributor and ranked in the top 5 for availability in the Oasis Quest incentivized testnet.
Oasis, a privacy-first, proof of stake, decentralized computing network is built to enable a "responsible data economy." The protocol aims to put users in the driver's seat, allowing them to own and control their data, while supporting the development of privacy-preserving applications and services.
Oasis has a unique design which makes the platform highly adaptable while allowing for high-performance computation. Consensus is separated from computation on a Consensus Layer and a ParaTime Layer.
For most Layer-1 protocols, the blockchain is one-size-fits-all. Every decision—on operational code, pricing, protocol design, and more—impacts all applications and services identically. By separating out the ParaTime layer from the Consensus layer, Oasis is able to optimize computation for a variety of use cases without sacrificing strong security.
Each ParaTime defines its own security model: its own manner for determining truth and process for agreement. Once that agreement is reached, the output is hashed and put on the main chain, providing an unalterable record of all past states.
Anyone can build a runtime and add it to the Consensus layer. Runtimes determine for themselves how they work, come to agreement, operate, and enact governance; these design choices are independent of one another and the Consensus Layer. Given this system, the consensus mechanism on Oasis is of less importance than on many other blockchains. The Consensus Layer is essentially the auditor of a ParaTime’s decision, accepting the hashes of the most recent state (values) and writing them into the next block on the Oasis blockchain.
The Oasis Foundation was founded in April of 2021 to further Oasis’ decentralization as an entity independent from Oasis Labs, who developed the protocol. The Oasis Foundation is the organization in charge of overseeing the growth and success of the Oasis network. They also provide technical resources, oversee grant and participatory funding, and promote the governance and decentralization of Oasis.
Oasis is based on the Tendermint consensus layer. At launch, the active set (called the “consensus committee”) will be 80 validators. Validators are placed in the active set dependent upon stake, and propose blocks proportionally to their stake. 67% of the voting stake must agree on a block for it to be considered valid.
To participate in the Oasis Network, you can run an Oasis validator node (consensus node). ParaTimes have their own compute nodes and requirements separate from the nodes in the Consensus Layer.
A validator must have a minimum self-bond of 100 ROSE, plus another 100 for the entity housing the validator. The entity is like an on chain identifier that has a single validator at a time associated with it. For delegation, an individual must delegate a minimum of 200 tokens to a validator.
In order to receive staking rewards, a validator must sign at least 75% of the blocks in a single epoch, meaning it can’t be down for more than about 15 minutes per hour. Rewards are shared with delegators based on the validator fee. Transaction fees are not shared with delegators and only accrue to the validator itself. Rewards are automatically distributed and restaked: they must be unbonded to be spendable.
|Expected rate of Inflation||
Year 1, first half: up to 15%
Year 1, second half: up to 12%
Year 2, first half: up to 10%
Year 2, second half: up to 6%
Year 3, first half: up to 4%
Year 3, second half: up to 3%
Year 4: up to 2%
Inflation is based on block time and smoothed over time (e.g. there are not step-function changes). Inflation rates are approximate.
|Expected rate of reward (based on an expected staking rate of 70%)||
Year 1, first half: 21.42%
Year 1, second half: 17.14%
Year 2, first half: 14.29%
Year 2, second half: 8.57%
Year 3, first half: 5.71%
Year 3, second half: 4.29%
Year 4: 2.86%
Inflation starts at 15% and then decreases roughly linearly for the first 3 years. This decrease is not a step function; the rate declines slowly, and these values are the expected benchmarks. The rate of inflation is not impacted by the staking rate, only by time since launch.
Read Oasis Token Metrics for additional information.
At launch, slashing will only occur for double-signing. The network will slash the minimum stake amount (100 tokens) and freeze the node. Freezing the node is a precaution in order to prevent the node from being over-penalized. A frozen validating node will not be able to participate in consensus ever again.
However, the entity running the validator can continue to participate by replacing the frozen validator with a new validator, which moves the token delegation to the new validator and enters that one into the active set. Token holders do not need to take any action when this happens as they are technically delegating to the entity itself and the entity can swap validators at will.
The Cobalt upgrade in late April 2021 enabled on-chain governance on Oasis. This first implementation of Oasis' governance only supports binary upgrades, or upgrades to the entire protocol. Later upgrades may allow the ability to propose specific changes, such as changes to particular network parameters or proposals to fund activities.
Anyone can submit a governance proposal to upgrade the protocol by submitting new code, on which all active set validators can vote. ROSE holders cannot vote on proposals, and delegators cannot override the votes inherited from the validator to which they delegate.
The product of the quorum and threshold parameters must be ⅔ or more. So, for example, if a proposal has a 75% quorum of votes, it must have a minimum of 89% yes votes in order to pass.
Oasis is a protocol that leverages secure computing technologies for safe data handling and analysis.
Bison Trails supports the Oasis Network and the creation of a responsible data economy Running a validator on the Bison Trails platform enables customers to earn participatory rewards for helping secure the network
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