Oasis Labs Teams Up With A16z and Binance

oasis labs crypto

Oasis Labs have announced that they will have some strong backers for their blockchain startup hub. Accel, a16z crypto, Binance, Pantera Capital and Polychain Capital will all provide support for Oasis Labs’ programs.

The Oasis Startup Hub will be a startup incubator for blockchain projects, which focuses on “privacy-first cloud computing” and the project already has some launch clients with projects under development.

The founder of the Oasis Labs project is University of Berkeley Professor Dawn Song, who is an expert in security technology. Song claims that the Oasis approach has solved problems with scalability by separating execution from consensus,

“By having the computation committee working in parallel with the consensus committee only needing to verify the correctness of the computation creates an easier path to scalability.”

Coin Desk reported a comment from Accel Partners which highlighted the importance of data protection in the Oasis Labs projects, due to the recent string of “high-profile privacy failures.” The big tech firms such as Google and Facebook will eventually have to adopt some form of blockchain technology for data protection, with reports this week of another high-profile data hack. The latest failure has led to Google shutting down its Google+ social media platform amid claims that they failed to disclose the user breach for fear of reprisal.

The backing for the Oasis Labs project comes as Crypto Slate reported a 300% increase in venture capital investments in cryptocurrency this year.