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OASIS LABS - A New Era for Scalability and Privacy-Preserving Built with ever Smart Contracts Platform

christina - 06/06/2018 - 2789 view
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Ekiden, the son from Oasis Labs, marked as an unprecedented project which helps solve almost in security and scalability for smart contracts. Among upcoming ICO, Oasis Labs outrates when it is able to use cutting-edge technologies in smart contract platform to provide a solution to a trustworthy and confidential smart contract of its own. Worth a deep look.

General Information:

Project Name: Ekiden

Website: https://www.oasislabs.com/

Twitter: https://twitter.com/OasisLabs

Telegram: https://t.me/oasislabs

White Paper: https://arxiv.org/pdf/1804.05141.pdf%20

Token Sale: Period is not set, but soon

Token type: Own Wallet

Accepts: BNB

Team:

Raymond Cheng: an immensely experienced and administrative manager who can run-a-team: post-doctoral researcher from UC Berkeley before going on to work at many illustrious technology giants in a row: 5-year HP, 3-year Apple as a Marketing Director, a year Borland as a Director, 7-year CEO Alabama China Partnership and and so far 8-year CEO at SoZo group. With this network, the ability to centralize geniuses and call for any promotion at barely no cost may be unquestionable. The entire number of projects (of which the technology field is widely covered) are listed on his website.
Jernej Kos deserves the lead in dev team who has earned a Ph.D in Computer Science in 2016 and experienced real and most practical jobs, which is a buffer for the development team. He has enough “rotation-covering”  to be a hard member: a researcher, a founder, a lead developer, and more (4-year Software Developer, KDE; 8-year Lead Developer; Unimatriks; 2-year Software Engineer, Genialis; 11-year Network engineer, Wlan Slovenia.)

Ari Juels and Andrew Miller have earned their Ph.D. in Computer Science just recently. Another team member, Dawn Song also earned her Ph.D. in the same field, but quite a while ago (2002) and all of them have been professors in University and do research in several Labs. All have acquired sufficient experience and certain in-deep learning in Cryptocurrency. Of all 3 members, don’t forget Dawn Song’s wealthy intellectual property and research about AI, Security, Blockchain; Serial entrepreneur,... She could be an ambassador of Ekiden, as a brilliant scholar. Her awards queue in a long row, you can see it here:

Noah Johnson, Nicholas Hynes, both are practitioners of Law and has sufficient experience in their field, follow up the study major as their early career direction.
Warren He has a bachelors in Electrical Engineering and Computer Science. At UC Berkeley, she conducts research with several areas include security, deep learning, distributed systems and blockchain.

The last member is Fan Zhang, from Cornell University, but we don’t have enough information.
5 out of 9 team members hold Ph.D. all in Computer Science major, closely related to what has to be done in Ekiden. Also 5 out of all are in the same University of California, Berkeley, which obtains certain cohesion to be a united team. The CEO profile is something more, HP, Apple to name but a few, with the experience of CEO of consecutive 7 companies. Although when you take a look at their LinkedIn, Ekiden or Oasis Labs hasn’t been there, the team squad is highly qualified and has a big potential for something huge. In our view, however potential they are, the website should be more well-designed and the LinkedIn should be updated when they want to call for any budget.

It seems that this project wants to be exposed as “Still waters run deep”.

Ekiden Protocol:

Generally, it is the project that uses Ekiden Protocol, a platform for Trust and Performant Smart Contract Execution. What it can do is to support diverse applications in its high performance, ranging from games to machine learning. Furthermore, security and privacy for data and computations are focused on, when the user-friendly function is featured with built-in machine learning and data analytics. It can be a source to build the D-apps.

The team is so confident with their code product that they almost show and explains every algorithm in their white paper (You can refer to the White Paper to know more, if you are a tech.)

They try to show how well they keep the network decentralized and confidential when it comes to any blockchain process off-chain, especially on TEE hardware.

PROTOCOL DETAILS AND SECURITY PROOF: Formal Specification of the Protocol. Ekiden Protocol. The contract TEE program

Applications

The application range is long, from Machine Learning, Thermal Modeling, Token, Poker, Cryptokities and Ethereum VM, as listed in the picture below:

“Ekiden smart contracts are written in Rust. For each, they specify the number of lines of code, as well as secret inputs, outputs, and state. Secret inputs and outputs are only accessible to the contract and the invoking user. Secret state is only accessible to the contract.”

Scalability: Ekiden performs concurrent, off-chain execution of smart contracts via TEE-backed compute nodes. Ekiden can combine blockchains with Trusted Execution Environments (TEEs), such as Intel SGX.

EkidenEthereum Network

   1. Merging concurrent output from multiple TEE-
backed compute nodes

 2. Separates smart contract execution from consensus

   1. Each node replicates all computation                 

    2. Run the consensus protocol

Ekiden can execute smart contracts in parallel to obtain higher performance, with low cost and protect sensitive data through concurrent, off-chain execution of smart contracts.

Security and Privacy: All data on the Ekiden network is encrypted and secure. Ekiden applies several to optimize the system instead of relying on one mechanism for security

The picture is presenting an overview of Ekiden architecture and workflow. The Ekiden network includes three main elements: clients, compute nodes and consensus nodes. Amongst that, clients are end users of smart contracts, who can create smart contracts or execute existing ones. The blockchain stores encrypted contract state and keep it secret from all other parties and explicitly specify their secret state, which will automatically be encrypted with keys known only to enclave applications.

They also design Ekiden-BT (end-to-end instantiation of the system with a blockchain extending from Tendermint) achieves example performance of 400x less latency and 600x higher throughput at 1000x lower cost than using Ethereum.

End-to-End LatencyThroughput
End-to-end latency of client requests for various contracts.
  • Rust token and ERC20 token contracts on Ekiden-BT: transactions 2-5 orders of magnitude faster than Ethereum.
  • Read-write transactions on Ekiden-BT blockchain: a second.
Throughput comparison across contracts and systems, with baseline reads and writes to meet any demand on blockchain:
  • Rust token: 10x lower cost compared to In-EVM operations:
  • ERC20: 1–2 orders of magnitude higher performance than Ethereum.

Consensus commit time

Peak throughput performance of token transfers under different consensus layer commits times. That contract execution occurs in parallel to state agreement will help throughput performance for plenty of commit times on the consensus layer. Ekiden is hoped to perform well on a variety of blockchains. The decoupling of computation, storage and consensus are essential for achieving the high performance and confidentiality.

By off-chain secure consensus that will take a load off of main-chains on smart contract platform, Ekiden is proved to be a scaling solution. 

As usual, we are going to summarize strong and minus points for this review to grasp the overall picture:

Upsides:

  • Strong team is excel at designing products and management, with a plethora of industry experience and most related background (Ph.D. in Computer Science).
  • The idea is initiative, Ekiden is a pioneer in using blockchain-agnostic to solve the lack of blockchains’ privacy
  • Backers of the project are eminent, backed by Hash and multiple South Korean venture capital. Although not yet published widely, it draws attention on many reviewers and investors signaling a breakthrough (two episodes of CNBC Crypto Trader, Ran NeuNer’s interview with CNBC, and a recent tweet NeuNer published)
  • EVM-based blockchain will make the working of the Ethereum blockchain more competent, as it not only does not have to do any experienced programming language, but also ensure compatibility at a high level.

Downsides:

  • Awareness of the Oasis Labs ICO is low.
  • Competition is high:
  • Ekiden has a competitor named Enigma with the same idea of confidentiality-preserving with smart contract. In spite of that, Engima is not called as an agnostic solution because it has not complete as Ekiden, though the blockchain has made a strong network (Aion is just a name)
  • QuarkChain, another competitor, solve both scalability and backward EVM-compatibility in the same package
  • There is not enough information about the hard cap, roadmap but if it is not too crazy, it will win big
  • SGX used is compatible with CPUs after 2015, which has some limitations but the world now is even developed, so it would overcome this easily.

To sum up, when lots of companies have great tech, a great team along with a great attitude can bloom. As the slogan, “RETHINKING BLOCKCHAIN FOR THE REAL WORLD”, it is believed that with the first project built from the ground up with smart contract platform, with high-profile team who are about to ring the bell, Ekiden will be a chance for anyone who set a belief in the quote “Tip of an iceberg”. Please wait for enough tips to sprout so that you can make the right choice, or always take a deep breath from afar when you are ready for it.

Rate from ICOGENS.COM

HYPERISKROITERMICONGENS’ SCORE
HIGHLOWNOT RATELONGHIGH

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