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Cryptocurrency Guide | Guides

What Is Oasis Network (ROSE)? All You Need To Know

Author

Rickie Sanchez

Tags

Tags Editor's Choice / Slider Posts

Reading time

3 mins
Last update

Author

Rickie Sanchez

Tags

Editor's Choice / Slider Posts

Reading time

3 mins
Last update

Author

Rickie Sanchez

Tags

Editor's Choice, Slider Posts

Reading time

3 mins
Last update

oasis network

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Key Takeaways

  • Oasis Network is a Layer-1 blockchain focused on scalability and privacy, allowing businesses to collaborate on confidential data.
  • Oasis offers customizable privacy features, allowing developers to choose the level of confidentiality for their projects.
  • The project integrates with existing blockchain tools and technologies, enabling developers to build privacy-preserving applications with ease.

What Is Oasis Network (ROSE)?

Oasis Network (ROSE) is a privacy-enabled blockchain platform designed for secure data, confidential computing, and scalability. Its goal is to create a platform where businesses can collaborate and innovate on confidential data without compromising privacy.

How Does Oasis Network (ROSE) Work?

Oasis Network (ROSE) functions as a Layer-1, proof-of-stake blockchain with a unique two-layer architecture designed for scalability and privacy. Here’s a breakdown of its core functionalities:

Dual-Layer Architecture

Consensus Layer

This layer secures the network through a Byzantine Fault Tolerance (BFT) consensus mechanism. Validators on this layer stake ROSE tokens to secure the network and earn rewards.

ParaTime Layer

This layer consists of multiple isolated execution environments called ParaTimes. Each ParaTime can have its own rules and functionalities, allowing for customization and privacy preservation. Depending on the application’s needs, ParaTimes can be public or confidential.

Privacy Features

Trusted Execution Environments (TEEs)

ParaTimes can leverage TEEs, secure enclaves within processors that protect data confidentiality during computation. This enables confidential smart contracts to process sensitive data without revealing it to the network.

Confidential Assets

Data within ParaTimes can be encrypted, ensuring only authorized users can access it. This is crucial for applications dealing with sensitive information like financial data or medical records.

Scalability

By separating consensus and execution in the ParaTime layer, Oasis Network aims to achieve high transaction throughput and scalability compared to single-layer blockchains.

Oasis Network (ROSE) Token And Tokenomics

Tokenomics

The ROSE token is Oasis Network’s native cryptocurrency. It is used for:

  • Staking
  • Utility
  • Governance

Token Details

Total Supply 10,000,000,000 ROSE

Circulating Supply 6,713,599,876 ROSE

Current Price $0.09598

Market Capitalization $644,443,964

This information is current as of April 23rd, 2024, and the token’s price, market value, and available supply may fluctuate.

Distribution

  • Backers (23%)
  • Community & Ecosystem (18.50%)
  • Core Contributors (20%)
  • Foundation Endowment: (10%)
  • Strategic Partners & Reserve (5%)
  • Staking Rewards (23.50%)

Where Can I Buy Oasis Network (ROSE)?

Binance Binance is a major exchange offering a wide range of cryptocurrencies. It offers multiple ways to buy crypto, including credit cards, debit cards, and peer-to-peer (P2P) trading.

Bybit This exchange is known for its derivatives and margin trading features, but you can also use the platform for spot trading.

Coinbase Coinbase is an American-based cryptocurrency exchange that allows you to buy cryptocurrencies using various payment methods, including bank transfers, debit cards, and wire transfers.

Is Oasis Network (ROSE) A Good Investment?

Pros

  • Scalability and Efficiency – Oasis Network addresses the scalability issues faced by some blockchains like Ethereum by separating consensus and execution. This two-layer architecture with ParaTime enables faster transaction processing and lower fees.
  • Privacy-Preserving – Developers can build dApps that handle sensitive data without compromising user privacy.
  • Developer-Friendly – The platform offers tools and resources to streamline the development of privacy-focused decentralized applications (dApps).

Cons

  • Limited Interoperability –  Compared to some established blockchains, Oasis has limitations in seamless communication with other blockchains.
  • Nascent Ecosystem – As a relatively new platform, Oasis has a less developed ecosystem than more mature blockchains.
  • Complexity for Users –  The advanced privacy features and dual-layer architecture can be challenging for new users to understand and navigate.

Final Thoughts

Whether Oasis Network (ROSE) is a good investment depends on your risk tolerance and goals. Remember, this guide provides a starting point for your research. Always conduct your due diligence before making any investment decisions.