Auth3 Network: An in-depth look at some of the projects currently under construction on Parcel
Oasis Labs believe in creating technology that protects their privacy while allowing them to use the full value of their data. Auth3 is a privacy protection computer network that Parcel uses to gain full control over the data lifecycle. Auth3 network users can access features such as secure storage, data management, data tokenization etc.
Auth3 is a decentralized and reliable network based on an infrastructure protected by data-protection to enable and exchange data values. Auth3 aims to connect people and data from all over the world for Web 3.0. It helps people discover, add and share authenticated data. Additionally, Auth3 encompasses data usage rights in data tokens using Blockchain and DeFi tools, specifically helping to unlock data value.
The ultimate goal of Auth3 is to unlock the value of data and help people discover, collect and fairly share real data assets. For example, user tags and portraits are indispensable in advertising, insurance, medicine and artificial intelligence industries. However, values are significantly limited and unevenly distributed due to privacy concerns and the lack of rational ways to use the data. Auth3 aims to ensure that everyone has the data, controls it, and has the right to use it without giving up privacy and getting paid for it.
Auth3 offers comprehensive data protection and security protection that covers the entire lifecycle of data usage. Specifically, Parcel implements a robust, advanced data protection infrastructure that can complement the Auth3 network in secure storage, execution, access control and tokenization. With Parcel’s support, the Auth3 system offers extensive functionality, including:
· Enable data providers to collect, store, and manage data and add datasets to a data project for exchange.
· Check the authenticity and attributes of data in datasets and protect data confidentiality during calculation.
· Let data operators print data tokens.
· Other behaviour related to the dissemination and confidentiality of data.
Data, the oil of the new age, has become indispensable as a new production factor in modern business life. Today, people are constantly generating and contributing data in the digital space. An enormous amount of data creates tremendous value when collected, analyzed and excavated in all possible areas of the industry. However, the true value of the data has not yet been used effectively. Problems with leakage and misuse are common in the dissemination and use of data.
About Oasis Network
The Oasis Network is the first privacy-enabled blockchain network developed for the next generation of blockchain for open finance and a responsible data economy. With its high throughput and secure design, the Oasis Network can enable private, scalable DeFi, redefining open finance and making it accessible to a wider audience than traders and early adopters. Its unique privacy features have the potential to revolutionize DeFi and produce Tokenized Data, a new sort of digital asset that will allow users to take custody of the data they generate and earn incentives for staking it with apps, resulting in the first-ever responsible data economy.