Sapphire, the oasis network innovation that beats imaginations.
Tags: cryptocurrency, blockchain
Published: 2023-06-23 16:33:09

 Sapphire is a groundbreaking developer environment as it is the first and only confidential Ethereum Virtual Machine
(EVM) compatible ParaTime. Sapphire is the key building block of a privacy layer for Web3, including all EVM chains and dApps (this is the Oasis Privacy Layer). This runtime can help scale blockchain rapidly towards Web3 and allow EVM developers to quickly lay the foundations for privacy-enabled blockchain dApps.

As the official confidential EVM-compatible ParaTime on the Oasis Network, Sapphire allows for:
_Confidential state_: end-to-end encryption, confidential randomness
_EVM compatibility_: Easy integration with EVM-based dApps: such as NFT, Metaverse, crypto gaming and DeFi
_Scalability_ :increased throughput of transactions
_Low-cost_ : 99%+ lower fees than Ethereum
_Cross-chain bridge_:to enable cross-chain interoperability

The blockchain ecosystem is at a critical phase in its evolution and blockchain technology is lacking in a few areas, particularly in privacy.
The lack of privacy is often discussed when it comes to blockchain being a fundamental technology for our lives in the future, Oasis aims to scale blockchain to Web3 and provide that robust, configurable, functional privacy that is so desired. While there is the desire for blockchain to be usable, and foundational for Web3 - the need to protect the privacy of users should be prioritized. 
Sapphire presents a solution to the blockchain privacy paradox and showcases the flexibility of the Oasis Network and its customizable ParaTime layer with the development of a confidential EVM developer environment. It doesn’t end there, Sapphire offers Solidity developers a familiar, Ethereum-compatible building environment, but with additional benefits of Oasis' privacy technology which is key to allowing blockchain to be part of the Web3 world. popular dApps on all familiar EVM chains can utilize Oasis' privacy technology without the need to migrate their entire application and user base to a different chain.
Presently, a key security feature of blockchain means data executed on-chain is publicly available and transparent, but we need to agree that sensitive data, such as financial and health information, needs to remain confidential if we are to scale to Web3.
Sapphire enables the development of dApps that can utilize confidential smart contracts where, for instance, transactions between wallets can remain visible, transparent and ensure security, but the data on how much was transacted is kept private. 
Sapphire allows for dApps to be built that can make data confidential, while still executing smart contracts.
existing dApps can also benefit from on-chain privacy when they conduct secret ballots in their DAOs, private NFT lotteries, or Decentralized ID systems that manage sensitive personal information 

Sapphire, the Oasis Privacy Layer was created so that the hard work already done on other chains with other established dApps can access Sapphire's unique privacy  capabilities without losing anything.
oasis is fostering the growth of an open, data-responsible economy - with privacy. Oasis recognizes the importance of privacy technology and It is no mistake that Oasis' technology is built the way it is. The goals and motivations of the platform are empowered only by the technology to achieve a Web3 world where blockchain is viable, functional and begins to solve real-world problems.
https://oasisprotocol.org/blog/the-oasis-privacy-layer-powered-by-sapphire