Designed to support the next generation of blockchain applications, the Oasis Network is incredibly versatile, agile, and customizable. Namely, each ParaTime can be developed in isolation to meet the needs of a specific application. ParaTimes committees can be made large or small, open or closed, allowing for faster or more secure execution depending on the requirements of a particular use case. Nodes can be required to have specific hardware, such as Secure Enclaves in a confidential ParaTime. Each ParaTime can similarly run different Runtime VMs (ParaTime Engines) such as EVM backwards compatible engine, Rust based smart contract language, or a Data tokenization engine. Finally to support enterprise and developer use cases, ParaTimes can be made Permissioned or Permissionless — allowing consortiums to have their own closed ParaTime, or communities to have full decentralized open ParaTimes.