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Oasis Foundation collaborates with the Conflux Network to introduce innovative privacy-preserving technology from Oasis to the Conflux Network.
FREMONT, CA : The Oasis Foundation, a company that supports the Oasis Network's growth and its ecosystem, recently announced that it is collaborating with the Conflux Network to introduce innovative privacy-preserving technology from Oasis to the Conflux Network. It is a significant step in improving the security of Conflux-related apps and allowing new consumer participation with a more secure marketplace based on reputation.
To guarantee trust, the transparent nature of public, permissionless blockchain networks is crucial. Although this is a useful transparency tool, some kinds of personal data need to remain private. The Oasis Network allows for public and private data to be segregated. The effect is a user-controlled web where users manage access to their private data and enable applications in a protected environment to access that data. The solution is that, even though shared, personal data stays private, generating the dynamics for better communication between businesses 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."
They are combining the high-speed efficiency of Conflux Network applications with Oasis Networks privacy technologies by collaborating with the Oasis Foundation and enhancing users' ability to access and manage their data through both networks. Conflux's cross-chain success and Oasis' privacy-preserving technologies make it a perfect partner to advance DeFi into a more mainstream market beyond traders and early adopters.
"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."