Markets->Oasis Network

Oasis NetworkOasis Network PriceROSE

$0.05,039,894-5.95%(24h)

Market Statistics

Market Cap$253.37M
24h Volume$35.06M
Circulating Amount$10.00B
Price Change (1h)-0.03%
Price Change (24h)-5.95%
Price Change (7 days)-5.03%

About Oasis Network (ROSE)

Oasis Networkis the leading privacy-enabled and scalable layer-1 blockchain network and combines high throughput and low gas fees with secure architecture to provide a next-generation foundation for Web3 and power DeFi, GameFi, NFTs, Metaverse, Data tokenization and Data DAOs. Oasis will propel web3 forward, scaling it and evolving it from infancy to maturity.

The initiative favours apps and use cases that improve data privacy and user confidentiality. It tries to accomplish this objective by isolating its consensus layer from its contract execution layer while offering a built-in interface linking the two for privacy-preserving computation.

The ROSE native token from Oasis Network is a capped supply token. It is used for staking and delegating on the Oasis consensus layer and for smart contract operations that require fees in ParaTimes.

 

How Does Oasis Network Work?

The Oasis Network is a Layer-1 blockchain protocol that employs a PoS consensus system based on Byzantine Fault Tolerance (BFT). Oasis distinguished itself by separating its consensus layer from its contract execution layer. These independent layers allow Oasis to support several configurable runtimes (which it calls ParaTimes).

The consensus layer is a scalable, high-throughput, secure PoS consensus run by a decentralised network of validator nodes. This consensus layer functions as a hub that protects the network and sets agreements on transaction legitimacy.

The execution layer, called the ParaTime layer, comprises several parallel runtimes called ParaTimes for specific processing requirements that individually plug into the consensus layer. ParaTimes represent a duplicated compute environment with a shared state. The network’s novel ParaTime design enables them to scale without sidechains.

The Oasis Network powers private, scalable decentralised finance (DeFi), spreading it beyond traders and early adopters to a mass market. Its distinct privacy characteristics reshape DeFi, Web3, and usher in a new digital asset known as ‘tokenised data’. This would allow users to take ownership of their data and earn rewards for staking it with applications, creating a responsible data economy.

By enabling confidential smart contracts, data is kept secret while being processed. This allows end-to-end data secrecy on the blockchain, opening possible DeFi use-cases such as under-collateralised lending and measures that prevent front/back running.

 

What Makes Oasis Network Unique?

Privacy-Enabled Layer-1 Blockchain: The Oasis Network is the world’s leading scalable, privacy-enabled blockchain. ParaTimes on the Oasis Network can leverage privacy-preserving technology enabling users to share their data to earn income while keeping it totally confidential, unlocking new Web 3 use cases like digital identity and private metaverse applications for blockchain.

Scalable, Private DeFi: The DeFi market is still in its infancy, with trillions of dollars in existing financial markets ready to enter the space. The expansion of DeFi is limited by a lack of privacy, security as well as high fees. The result is an overloaded and expensive system that’s impossible to scale. Oasis Network is a Layer 1 blockchain that can expand DeFi beyond early adopters into mass-market adoption. Enables Data Tokenization: The Oasis Network can Tokenize Data. This will unlock game-changing use cases for blockchain, and an entirely new ecosystem of apps and projects on the network, powering the next generation of privacy-first applications that reward users for the value they create.

Data Backed NFTs: Oasis Network provides transparency for online transactions but keep the underlying data private. Data-backed tokens and NFTs on the Oasis Network enable private ownership while allowing smart contracts to verify any necessary information. This ensures assets and transactions are kept confidential, secure, and not vulnerable to attack or ever exposure to a third party.

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