Oasis Protocol has announced the launch of Oasis Sapphire, described as the 1st and only confidential Ethereum Virtual Machine (EVM) in Web3, aimed at enhancing Web3 usability and security. This innovation allows developers to create decentralized applications (dApps) with smart contracts that can be entirely confidential or public, catering to the need for privacy in the blockchain space. Additionally, Oasis Protocol has introduced a $100,000 bug bounty program in collaboration with Immunefi to improve Web3 security, encouraging the community to identify and report vulnerabilities. In a related development, the protocol is also sponsoring a competition at Ethereum Denver's BUIDLATHON, offering up to $6,000 USD for developers who build dApps on Oasis Sapphire, further emphasizing its commitment to fostering innovation and security in the blockchain ecosystem.