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Oasis Labs, a startup building a privacy-first, high-performance cloud computing platform on the blockchain, announced today that it has officially launched following a $45 million private token pre-sale led by Andreessen Horowitz.

According to the announcement, the Oasis Labs team aims to compete with Amazon’s AWS by building a decentralized computing platform that leverages privacy-preserving smart contracts at scale.

In an interview with Coindesk that accompanied the announcement,¬†Oasis CEO Dawn Song highlighted the potential of the startup’s new tech.

In our experiments we see performance orders of magnitude greater than Ethereum. This architecture also supports far more computationally intensive tasks like machine learning and AI, which are not possible with today’s blockchain technologies.

Developers interested in testing their platform can now join the Oasis Labs testnet by filling out an application.

News of the token sale drops just weeks after Andreessen Horowitz announced that it has launched a $300 million dedicated venture fund to invest in cryptocurrency and digital tokens. It is not clear whether the latest investment in Oasis was included in the dedicated fund.

The private token sale reportedly was joined by other notable investors, including Accel, Binance, and Coinbase co-founder Fred Ehrsam.

More: Crypto and venture’s biggest names are backing a new distributed ledger project called Oasis Labs
Similar: Andreessen Horowitz Launches $300 Million Cryptocurrency Fund
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