Oasis Network (ROSE), founded in 2020, is a privacy-centric Layer-1 blockchain platform that allows scalable, secure, and confidential data-sharing and DeFi applications. Oasis Network is designed to create a paradigm shift in industries like healthcare, finance, and data analytics by combining the power of high performance with privacy-preserving features.
The network was designed to overcome the shortcomings of classic blockchain platforms: providing scalability, privacy, and usability. The ROSE token is the utility token native to the network; it is used for staking, transaction fees, and delegating responsibilities within the network.
Oasis Network was founded by Oasis Labs, which was led by the well-known computer scientist Dawn Song, a specialist in privacy and security. Being a professor and entrepreneur, Song had pictured Oasis Network to be a secure, privacy-preserving blockchain that would fundamentally change the paradigm of how data was being shared and used. Raymond Cheng served as the CTO and contributed to the network’s focus on putting confidentiality together with high performance. Their mission is to enable users and developers with tools to build dApps that focus on data privacy and security without sacrificing scalability.
Oasis Network introduces innovative solutions for scalability, privacy, and data tokenization. The ParaTime Layer separates consensus and execution layers, allowing for several ParaTimes to execute in parallel. This separation allows scalability while keeping certain workloads private. Confidential smart contracts are enabled to ensure data privacy while being processed securely.
The Cipher ParaTime is privacy-focused and enables secure computation and data tokenization, while the Emerald ParaTime is EVM-compatible, allowing developers to deploy Ethereum dApps with lower fees and higher throughput. Oasis uses a Proof of Stake (PoS) consensus mechanism, allowing holders of ROSE to participate in securing the network through staking and delegation.
Data tokenization allows users to control how their data is shared or monetized, setting up a decentralized data-sharing framework. Oasis achieves scaleability through the parallel execution of transactions at low operational costs.
The network achieves 1,000+ transactions per second (TPS), ensuring high-demand applications are processed quickly and efficiently.
Oasis partnered with Meta to explore privacy-preserving machine learning applications that support its secure computation technology. Integration with Binance enables seamless trading of ROSE tokens and supports Oasis-based applications.
Oasis integrates with Filecoin to combine decentralized storage with privacy-preserving data-sharing capabilities. Its integration with Chainlink’s decentralized oracles provides a secure and accurate source of off-chain data for applications based on Oasis.
Oasis launched Sapphire ParaTime, the first confidential EVM-compatible runtime, enabling Ethereum compatibility in privacy-preserving dApps. Several DeFi protocols have been onboarded into Oasis, including DEXs, lending protocols, and liquidity providers, increasing the utility of the ROSE token. Oasis is considering NFTs with embedded privacy features that enable creators and buyers to control access to metadata and transaction details.
The network introduced an Ecosystem Fund to support developers in creating dApps, tools, and services on its platform, driving innovation and adoption. Oasis is working on a bridging solution to integrate with major blockchains such as Ethereum, Polkadot, and Binance Smart Chain.
Oasis is running pilot projects that enable individuals and organizations to securely share and monetize their data without compromising privacy. New developer-friendly tools and SDKs simplify the deployment of privacy-focused dApps, attracting a growing developer community.
ROSE trades at approximately $0.08, up about 6.24% in the last 24 hours as of December 26, 2024. Its market capitalization stands at $581 million, positioning it within the blockchain market.
Oasis Network’s native token, ROSE, reached its all-time high (ATH) of $0.59 on January 15, 2022, and its all-time low (ATL) of $0.03 on November 26, 2020. Several factors affect the price movement of ROSE. Increased use of ROSE in DeFi applications boosts demand and utility for the token. Oasis’s high-quality privacy-preserving technology attracts enterprise and developer attention. Additionally, strategic partnerships and ecosystem grants facilitate the adoption of Oasis-based applications, contributing to ecosystem growth.
The Oasis Network is one of the first to implement a combination of both scalable and private blockchain technology. Backed by data tokenization, privacy-preserving apps, and high performance, Oasis offers a powerhouse environment for developers and enterprises. With strategic partnerships, relentless innovation, and ecosystem development, Oasis Network is primed to lead in providing blockchain solutions for global adoption around DeFi, Data Sharing, and Web3 applications.
For more information, watch the video below:
Curious about cryptocurrencies? Start with our guides on KCS, BTT, and CRV for all the essential insights.
FAQs
Q1. For what purposes is Oasis Network (ROSE) used?
- A: It finds its use in staking and transaction fees, as well as in delegating network responsibilities within the Oasis ecosystem.
Q2. What is different about Oasis?
- A: Oasis scales uniquely with the additional feature of privacy, wherein decentralized applications can process sensitive data in a secure way.
Q3. How does Oasis achieve scalability?
- A: The ParaTime layer separates consensus and execution, enabling parallel processing of transactions for higher throughput.
Q4. What is Cipher ParaTime?
- A: It is a runtime for Privacy-based Computation and Data Tokenisation.