Oasis Network mainnet launches touting privacy for loans and genomes

Summary (IA Generated)

Oasis Labs has announced the successful privacy-and-scalability-25379d152122″ rel=”noopener nofollow noreferrer”>launch of its Oasis Network mainnet, with more than 70 independent validators already live.

Oasis Labs says its “confidential compute” functionality enables encrypted data to be processed by the network’s nodes to ensure the privacy of a wide range of processes — from credit history checks to genetic research.

“The Oasis Network can support a new breed of privacy-preserving applications that respect a user’s data preferences by design and ensure each individual is fairly compensated for their data.

The network is said to have a greater capacity to enable credit checks as it ensures the privacy of sensitive financial or personal data, allowing loan applicants to establish their creditworthiness to lenders.

Oasis Labs also believes its secure architecture could also facilitate the creation of private decentralized exchange platforms, including automated market makers (AMMs) like Uniswap.

According to Oasis “hundreds” of partnership projects are already being built on the network, including a “privacy-first genome sequencing” venture with Nebula Genomics, and the Binance-led CryptoSafe Alliance (CSA).

Announced in August, the CSA is a platform designed to facilitate the private sharing of threat intelligence data among cryptocurrency exchanges.

The CSA uses Oasis’ confidential smart contracts to ensure that sensitive data belonging to participating entities is kept private within the network.