The Oasis Foundation, an organization supporting the development of the Oasis Network and its ecosystem, announced today it is partnering with Conflux Network to bring Oasis’ privacy-preserving technology to the Conflux Network. This is a major step in enhancing the security of applications built on Conflux, and enabling new market participation with more secure, reputation-based marketplaces.
The transparent nature of public, permissionless blockchain networks is vital to ensuring trust. While this is a powerful tool for accountability, there are certain types of personal information that must remain private. The Oasis Network enables the separation of public and private data. The result is a user-controlled web where users manage access to their private data, and allow applications to access that data in a secure environment. The key is that private data stays private even when shared, creating the dynamics for better collaboration between companies and users.
“The Oasis Network combines private data access and blockchain technology to create better ways to share and manage personal information on the internet,” said Eden Dhaliwal, Managing Director Conflux Network. “We see the partnership of our two technologies as a path to securing existing marketplaces with better KYC methods, unlocking new markets like personal data economies, and growing the Web3 space through cross-chain collaboration.”
Partnering with the Oasis Foundation integrates the high-speed performance of Conflux Network applications with the Oasis Network’s privacy technology, and unlocks the ability for users to control and manage their data across both networks. The cross-chain performance of Conflux and the privacy-preserving technology of Oasis make ideal partners to advance DeFi beyond traders and early adopters and into a more mainstream market.
“The way the web manages personal information of their users needs to improve to create not only a more secure environment but also more collaborative relationships amongst the stakeholders of a certain service,” said Luca Cosentino, DeFi Product Lead at Oasis Network. “We are excited to join forces with Conflux to make this vision a reality.”