Oasis Foundation Launches EVM-Compatible ParaTime on Mainnet, Targets NFTs, Gaming

Emerald, an Ethereum Virtual Machine (EVM-compatible ParaTime) developed by Oasis to protect privacy, has been officially published on Mainnet. Oasis hopes to bring more projects from the DeFi and NFT industries onto its network by the announcement.

The press release seen by CryptoPotato informed of the launch, explaining that Oasis Network wants to provide enhanced DeFi and NFT experience for its user base but only for a fraction of the fees that they pay on Ethereum.Additionally, Oasis promised “high throughput, and instant transactions” – features supported by the “unique ParaTime architecture.”So far, the network has processed over four million transactions and consists of 110 active validators and more than 4,000 delegators. ParaTime, which is integrated with Ethereum-based dApps via cross-chain bridges, will help the project increase its numbers. It currently has over four million transactions and 110 active validators. There are more than 4,000 delegators.

The total value of DeFi is now at $300 billion, just as NFT and gaming convergence is rapidly picking up. Emerald, which is fully compatible with EVMs, will add a host new features to the Oasis network, including easy integration with EVM based dApps, and the launch DeFi.” Jernej Kos, Director of Oasis Foundation.

This announcement comes after the launch of a $160m Ecosystem Fund that Oasis co-founded with AME Cloud Ventures and Dragonfly Capital Partners, Draper Dragon Fund and other prominent VCs.
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