/biz/ - Business & Finance

This is great on its own, but what is really needed for a mature form of defi to survive and thrive in the future is the ability to leverage your identity on-chain for things like under-collateralized loans and regulation compliance. Equifax is one of the "Big Three" credit bureaus, and *already* has the data of 800 million consumers and 88 million businesses. Partnering with Oasis means people can actually leverage this data in the world of web3, while still keeping the data hidden from the world.

Not only does Oasis benefit massively from a partnership, but Equifax will benefit in the future, and so will every single companie which holds private consumer data and is currently at risk of getting hacked and leaking that data. How can they protect themselves though? The Oasis blockchain has a modular architecture consisting of parallel runtimes (ParaTimes) which each can have different tech requirements or purposes. Think of it like a natively built-in rollup system all committing to the same consensus layer.

Sapphire lets you do confidential EVM, but what if you are a company that wants to avoid the risk of holding consumer data while still leveraging your access to that data? That's where Parcel comes in, another product built on the Oasis blockchain. Parcel lets companies trustlessly store data while keeping it confidential with secure hardware. It also allows for them to unlock data that was previously too regulated or risky to use.

In 2017 Equifax suffered a data breach, leaking private records of 150 million Americans held centrally on their servers. Utilizing Oasis to its full capabilities could have prevented such a breach (if Oasis existed). Ever since the name "Equifax" has been met with scorn. It's not a stretch to say that offloading the risk of sensitive data storage to blockchain will become not only desirable, but a *requirement* in the future. In the last few years people are increasingly waking up to the need to have control over their private data.

This Equifax partnership will allow for KYC in defi, but I suspect more integrations are brewing behind the scenes. Once the benefits become clear, the floodgates will open. Since the partnership announcement, $ROSE has been looking pretty healthy. That being said, it seems like few people understand the significance of this development. Perhaps this will change as the need for privacy becomes more well understood?

For now, we will just have to wait and see what other partnerships develop with Oasis.

Rose has a better use case than Link

>>52511504
>LINK fags triggered

>>52511504
NO IT DOESN'T MY INBESTMENT IS SUPERIOR

>>52511428

>>52511428

I'm not going to read any of that, but it looks important so I'm buying 500,000 ROSE.

>>52512395
based retard

10B

>>52511428
fuck off jack

>>52511428
thanks for the crumbs

>>52513248

Okay but ROSE died so like, what now?

>>52513324

Died? Sapphire is about to be released to mainnet

https://medium.com/oasis-protocol-project/the-oasis-privacy-layer-powered-by-sapphire-85079a2221f4

Mucho texto

>>52513336
What the huck is sapphire?

>>52513355
it's in the link also pic rel

Rose is dead. The fellowship of the Rose is gone. Dawng Song has betrayed and you're a closet homo.

>>52511428
Who the f is gonna use private smart contracts

>>52513607
Joe Mamma

>>52511428
I like the tech

>>52513336
What date will it launch?

>>52513388
checked
ive long had my eye on ROSE, but my one question is... will DECO obsolete Sapphire or vice versa? or do they coexist?

>>52511504
The dumb guys from IC3 get assigned to Oasis's teams. Trusted execution environments are retarded, you shouldn't have to trust any hardware... Did you ever wonder why Town Crier was abandoned? Fan Zhang, the primary author of the DECO whitepaper, used to work for Oasis Labs. Now he's working at Chainlink developing DECO. From the DECO whitepaper; "We tackle these challenges by introducing decentralized oracles
that don’t rely on trusted hardware or cooperation from web servers.
The problem is much more challenging than for previous oracles,
as it precludes solutions that require servers to modify their code
or deploy new software, e.g., [65], or use of prediction markets,
e.g., [12, 62], while at the same time going beyond these previous
approaches by supporting proofs on arbitrary predicates over data.
Another approach, introduced in [78], is to use trusted execution
environments (TEEs) such as Intel SGX. The downside is that re-
cent attacks [24] may deter some users from trusting TEEs."

DECO allows a Chainlink oracle to verify any API call cryptographically as a 3rd part without modification.

>>52513607
ligma and johson

>>52511428
>In the upcoming months, the Oasis blockchain will move its Sapphire ParaTime, the *first* confidential EVM, from testnet to mainnet
>Sapphire supports the creation of confidential Smart Contracts. In this confidential ParaTime, nodes are required to use a secure computing technology called a Trusted Execution Environment (TEE). Data goes into a Secure Enclave along with the smart contract, where the data is decrypted, processed by the smart contract, and then encrypted before it’s sent out again.
Genuinely disappointed. Thought I was going to read something about homomorphic encryption like a zkEVM. Ended up with this shit.

whats the make it stack ? 100k stacklet here

>>52515626
https://blog.chain.link/undercollateralized-lending-teller-deco-poc/
>In this PoC, the DECO Prover instance was deployed by Teller while the DECO Verifier was deployed by Chainlink Labs. In future iterations, it is planned that the DECO Prover can be deployed locally by the end-user or in a Trusted-Execution Environment (TEE) while the DECO Verifier can be deployed by a decentralized oracle network in order to increase trust-minimization guarantees.
Even Chainlink understands the use of TEEs.
>>52515578
DECO and Sapphire have some overlap but can serve different purposes. DECO doesn't obscure anything on-chain, it just lets you put facts *about* data on-chain without revealing the data. You don't get private smart contracts from it though, they will co-exist.

>>52515626
Town crier was abandoned because DECO is able to achieve a lot of what town crier was able to from an oracle perspective. Essentially high integrity of confidential data. and even then DECO is still sub optimal, it is just good enough while not requiring trusted hardware. For smart contracts execution that is still very much not the case. All DECO has to prove is that something is or isn’t true whereas for smart contracts you have to prove that large numbers of things are true not only in and of themselves but also in conjunction with the other data. For example using ZKPs to create a DEX order book. If person A deposits $100 and person B deposits $100 you need to show that the liquidity is $200. However, all you have is two ZKPs to go on. For this to happen confidentially it is fairly hard since you can not actually share that person A or person deposited $100 each, but you must show the total liquidity is equal to $200. Aggregating this data together while still keeping both data sets confidential is substantially more difficult than proving 1 thing is true for one user which is what DECO is doing and extremely well suited for. Most crypto dApps require aggregation of data, often a large amount. Aggregating large amounts of data while keeping that data private is extremely computationally expensive using ZKP. This is why if you want to create a private DEX or even a public DEX using zkp the DEX essentially has to be the entire network (i.e. zigzag, dydx, loopring). Having an entire ecosystem with multiple DEXs, lending protocols, all doing this at the same time like you would need to have a comparative experience as Ethereum or other EVM networks is not even remotely realistic at the moment. With TEEs this is a trivial task essentially capable of the same level of data aggregation and composability as Ethereum or other EVM network.

>>52518933
post picture of bussy

>>52517687
1M, sui is 100k so well done

guys, charles just launched a privacy token called dust...

>>52520425
bullish, even a master grifter like charles knows that privacy tokens are the next big thing.I'm getting a bag of his too, as a hedge

>>52512395

>>52520425
More to the point (/biz/ is fucking dead) it's a whole Privacy network called Midnight which looks quite a bit like Oasis' paratimes. I have a bag of both and am so underwater on ROSE it's not worth worrying about in the short term, but Oasis tweeted a "clarification" series within 2h of Midnight being announced.

>>52522451
> it's a whole Privacy network called Midnight which looks quite a bit like Oasis' paratimes. I have a bag of both
where do you even buy that?

>>52522582
You don't, there's barely any information about it at all. This shit could be years away for all we know.

>>52522582
to clarify, I have been buying back into ADA and hold ROSE. I assume that ADA will benefit from it's sidechains like ETH with its L2s Dust is not available and the whole project still looks like lab work - they haven't announced any partners.

>>52523253
I don’t know about ADA
I mean sure it will pump in bull I’m just not that impressed technology wise
ROSE is a bit riskier but I like it and has more upside
I could dca into dust if it ever comes out but I’m too keen to see where’s rose going in the long run to sell any those tokens