Become a Validator on Oasis Ethereum Paratime Mainnet

Published in

Oasis Foundation

3 min readJan 25, 2021

We’re excited to share that the Oasis Ethereum Paratime, an Ethereum compatible blockchain runtime designed for financial privacy and DeFi, is scheduled to launch in February 2021.

As part of this launch, we hope to give validators the opportunity to run a node on the ParaTime, earn rewards, and help support the ecosystem. If you’d like to become a validator node on Oasis Ethereum, check out the instructions here to get started on the testnet today.

Why run an Oasis Ethereum ParaTime node?

All Oasis Ethereum ParaTime node operators receive OETH, the native token of Oasis Ethereum, as block rewards. OETH has a fixed total supply of 21 million. It is deflationary as the network burns gas. There is no token sale, no investors, no pre-mine. All tokens are awarded over time to node operators, developers, and the community. The OETH token can be traded for other tokens via Uniswap DEX deployed on the ParaTime.

The Oasis Ethereum ParaTime aims to enable transactions and smart contract states to stay confidential even from the node owners and operators. You can read more about its privacy-first DeFi design in this paper.

How much does it cost to become an Oasis Ethereum validator?

It costs around $35 a month (ie a Microsoft Azure B2s VM instance) to run a minimal validator node on Oasis Ethereum.

About the Oasis Network

Designed for the next generation of blockchain, the Oasis Network is the first privacy-enabled blockchain platform for open finance and a responsible data economy. Combined with its high throughput and secure architecture, the Oasis Network is able to power private, scalable DeFi, revolutionizing Open Finance and expanding it beyond traders and early adopters to a mass market. Its unique privacy features can not only redefine DeFi, but also create a new type of digital asset called Tokenized Data that can enable users to take control of the data they generate and earn rewards for staking it with applications — creating the first ever responsible data economy.

About the Oasis Ethereum ParaTime

The Oasis Ethereum ParaTime s fully compatible with today’s Ethereum applications and much faster than the Ethereum mainnet due to its Proof-of-Stake and lightweight consensus. Ethereum digital assets, such as ETH and any ERC-20 tokens, can move between Ethereum and Oasis Ethereum in a decentralized and permissionless manner. Anyone can set up smart contracts to do Atomic Swap of tokens without any intermediaries.

The Oasis Ethereum ParaTime protects Ethereum transactions both in transit and during execution, ensuring that confidential data inside smart contracts are protected while public data can be accessed freely from the node at low cost and high performance. The ParaTime allows the Oasis Network to reach thousands of smart contract transactions per second (TPS). Due to its high throughput, the gas cost on Oasis Ethereum ParaTime is very low.

The Ethereum flavored WebAssembly (Ewasm) is the next-gen runtime for Ethereum 2.0 smart contracts. The Oasis Ethereum ParaTime is among the world’s first blockchain platforms to fully support Ewasm runtime & tooling through a partnership with Second State.

If you’re iterested in running a node on the Oasis Ethereum ParaTime, we’d love to have you onboard! You can get started here.

For more information, contact:

Website: https://www.oasiseth.org/
Discord: https://discord.com/invite/MjxtURG
Slack: https://app.slack.com/client/TK9CZ7USZ/CMUSJCRFA
Twitter: https://twitter.com/oeth