Oasis Labs has raised $45 million to construct a “privacy-first” cloud computing platform with blockchain expertise.
Berkeley, California-based Oasis Labs is designing a platform to beat the efficiency, safety, and privateness limitations which have hampered blockchain adoption to this point. The goal is to make blockchain, a distributed safe ledger that powers cryptocurrencies akin to Ethereum, extra helpful to a broader set of corporations.
“Blockchains are poised to revolutionize much of the way we live, but many developers and organizations have understandable concerns about performance and privacy limitations that are currently hindering their ability to embrace the technology,” stated Oasis Labs CEO Dawn Song, in an announcement. “The Oasis platform aims to give users control over their data, and at the same time deliver superior performance and privacy capabilities. Our goal is to build the scalable and secure decentralized internet that puts users first.”
The first funding spherical was led by a16zcrypto, Accel, Binance DCVC (Data Collective), Electric Capital, Foundation Capital, Metastable, Pantera, Polychain, and others.
“Today’s internet is experiencing significant growing pains when it comes to providing effective security and privacy protections, which is only compounded by the rise of data-intensive services like AI,” stated Accel accomplice Jake Flomenberg, in an announcement. “At the same time, however, the opportunity has never been greater to responsibly leverage data in the web’s next phase of products and innovation. Oasis Labs is forging a new path by giving people control over their data while delivering a high-performance blockchain platform that will reshape the future of the cloud.”
To energy these purposes, the Oasis platform embodies two core concepts.
The first is bringing privateness and safety protections beforehand not potential on a blockchain. The second is delivering processing capabilities with a lot larger efficiency than current programs, even for advanced purposes.
This mixture may allow refined, computationally intensive and privacy-sensitive providers, akin to machine studying on the blockchain, the corporate stated.
“It’s exciting to see talented people like Dawn and her team working on ways to transition the internet away from data silos and toward a world with more responsible ways to share and own your data,” stated Fred Ehrsam, cofounder of Coinbase and Oasis Labs investor, in an announcement.
Starting right now, Oasis Labs is asking builders to use for entry to its personal testnet.
“Our team has been hard at work building the platform for blockchain’s most meaningful applications,” stated Oasis Labs cofounder and CTO Raymond Cheng. “The next step is getting our product in the hands of developers who align with our mission and can help inform the evolution of the platform as they build applications upon it. We can’t wait to show them what we’ve been up to.”
Oasis Labs’ leaders have led a lot of open supply initiatives within the areas of safe and privacy-preserving computing, together with the open supply differential privateness challenge with Uber and the open supply keystone challenge (in collaboration with analysis teams at MIT and UC Berkeley) to develop open supply safe .
Oasis Labs was based in 2018 and has 20 staff.