What Is Oasis Network (ROSE) How It Works & Where To Buy It?

Oasis Network is a privacy-oriented blockchain project that provides users with a customizable and ultra-secure framework. The Oasis Network utilizes innovative consensus layers to achieve efficiency and security, and also offers users the option to custom-build applications.

The protocol has quickly grown to become one of the most popular privacy protocols and has garnered a large community of retail and institutional investors that are particularly interested in the blockchain project.

ROSE is currently the 104th largest cryptocurrency by market capitalization.

How Oasis Network (ROSE) Works

By offering end-to-end data confidentiality, Oasis Network can be used to create private smart contracts that can protect user data while it is being processed. As a result of the network’s tremendous scalability, it can easily overcome the issues with competing networks, such as long transaction times and expensive transaction costs.

The protocol focuses on scalability, securing private data, managing tokenized data, and the creation of private decentralized apps (DApps). The digital asset, ROSE, plays an integral role in the Oasis Network.

The protocol has recently received a lot of attention because it is anticipated to support data privacy and new use cases in private DeFi, which could aid in bringing DeFi and its products to a wider audience.

The PoS consensus process used by Oasis Network employs random validator nodes that stake the protocol’s native token, ROSE, necessary to earn rewards and to be tasked with the validation of a new block.

By isolating its consensus and computational functions into what it refers to as the consensus layer and ParaTime layer, Oasis Network can achieve optimal scalability.

Consensus Layer: Offers a highly scalable and secure consensus algorithm that is managed by validator nodes. Blocks are verified and committed to the blockchain here.

ParaTime Layer: Runtime environments, called ParaTimes, represent innovative computation in a shared state. Anyone can construct their own ParaTime and customize it. To meet the requirements of the specific application, every ParaTime can be uniquely built.

The Oasis Network uses two layers to divide consensus and execution, enabling the network to handle multiple transactions simultaneously. In this way, transaction processing in one ParaTime won’t be slowed down by resource-intensive computations occurring in another.

The Oasis Protocol’s whitepaper provides a more detailed description of the protocol and its lucrative functionality.

What Is Oasis Network (ROSE) Used For?

The Oasis Protocol uses the cryptocurrency ROSE to fuel its layer one blockchain, which aspires to be scalable and privacy-preserving. Rapid transaction times and the implementation of private smart contracts are facilitated by the Oasis Protocol. The Oasis Protocol’s proof of stake blockchain is validated by staking ROSE tokens used to pay transaction fees.

2.3 billion ROSE tokens have been reserved by Oasis Network as staking rewards for stakers and delegators who are tasked with securing the network. According to the network’s mining algorithm, the tokens set aside for staking rewards will be distributed to network participants who contribute to enhancing the security of the Oasis Protocol.

Additionally, Oasis enables secret ParaTimes that are tasked with the creation of private smart contracts. Nodes must utilize a Trusted Execution Environment (TEE), which functions as a protected zone for smart contract execution – this occurs within a confidential ParaTime.

Along with the smart contract, encrypted data is placed in a secure enclave. Before being processed further, this data is decrypted, processed by the smart contract, and then encrypted. As a result, neither the node administrator nor the creator of the smart contract will be able to read any private user data.

Additionally, users can trade ROSE tokens on various cryptocurrency exchanges. Experienced swing and arbitrage traders can capitalize on price fluctuations.

Where To Buy Oasis Network (ROSE) Token

ROSE is currently one of the most popular cryptocurrencies on the market. The ROSE token is quickly becoming one of the most adopted privacy coins on the market.

ROSE tokens are commonly traded on most centralized crypto exchanges. Before you’re able to purchase ROSE, you’ll need to deposit fiat money onto an exchange; sequentially, ROSE tokens will then be credited to your digital wallet on the exchange.

The crypto exchanges below are amongst the safest place where you can buy, sell and store tokens.

1. Gate.io
2. HTX
3. KuCoin
4. Binance
5. Bitfinex

ROSE Token holders can transfer their tokens to a compatible digital wallet such as MetaMask.

Additionally, many users can earn generous yields from participating in various DeFi products such as liquidity provision, farming, and staking.

About Oasis Network (ROSE)

How long has Oasis Network (ROSE) existed?

Dawn Song, a professor from the University of California, Berkeley’s Department of Electrical Engineering and Computer Science, created the ROSE and the Oasis Protocol in 2018. The Oasis Labs ICO ended on the 18th of November 2020 and raised $45 million.

The protocol is relatively new compared to projects like Monero and Zcash but it has rapidly established itself as a top-tier project that provides secure and innovative solutions to issues that have long plagued the blockchain industry. Decentralization and security are at the core of the Oasis Network.

What’s controversial about Oasis Network (ROSE)?

The majority of cryptocurrency projects are at least slightly controversial. The most frequent issue is that ordinary investors don’t research enough about the fundamentals of the cryptocurrency industry before investing in specific projects.

Let’s take a look at the top controversy surrounding Oasis Network (ROSE):

• Competition – The privacy sector is growing at an exponential rate, and new projects are emerging almost daily. Several projects are already dominating the sector, having amassed global communities and large market caps.

  Projects like the Oasis Protocol will need to work hard to differentiate themselves from other projects in the sector. Currently, the most dominant projects are Monero, Zcash, and Decred.

How many ROSE Tokens are there?

At the time of writing, ROSE has a circulating supply of 5.03B ROSE tokens

The total supply of Oasis Network (ROSE) is 10,000,000,000.

The max supply of Oasis Network (ROSE) is 10,000,000,000.

Can ROSE be mined?

ROSE coins can’t be mined. The Oasis Network uses a proof of stake mechanism to reach a consensus. Unlike other blockchains which use proof of work consensus algorithms, and are mineable, ROSE is an unmineable coin.

However, ROSE token holders can earn yields in various ways. The most common way to earn yields on ROSE tokens is by utilizing decentralized platforms that offer various DeFi products such as staking, farming, and liquidity provision.

Some centralized exchanges allow users to earn yields from staking their ROSE tokens.

What is the market cap of Oasis Network (ROSE)?

The market cap of Oasis Network (ROSE) is: the total amount of coins in circulation x the current market price of ROSE.

Oasis Network (ROSE) Market Cap = 5.03B ROSE x $0,05 = $266 million (105th largest market cap).

ROSE is currently one of the top 150 cryptocurrencies by market capitalization and has recently seen a lot of mainstream adoption.

Biggest Competitors Of Oasis Network (ROSE)

As a blockchain project that offers exclusive privacy solutions to individuals, the Oasis Network has established itself as one of the top privacy protocols.

The protocol’s innovative architecture and mechanisms make it simple for participants to conduct anonymous transactions. Individuals can use customized programs that are tailored to meet their specific requirements.

Oasis Network’s biggest competitors are:

• Monero
• Zcash
• Decred

What Are The Future Plans For Oasis Network (ROSE)?

The protocol focuses on improving user adoption, boosting the ROSE tokens utility, and broadening its ecosystem by adding valuable decentralized security products. The blockchain project has been particularly successful in building a significant crypto community and will continue prioritizing marketing and education surrounding the Oasis Network.

The protocol is centered around a responsible data economy that uses confidential computing as a core product. By utilizing secure computing technology and improving confidential smart contracts, the protocol will continue to protect users’ sensitive data.

Pros And Cons Of Oasis Network (ROSE)

Pros:

• Real Utility – The blockchain space is rooted in decentralization, security, and scalability. The Oasis Network provides solutions to decentralization and security issues innovatively.
• Energy-Efficient Consensus – The Oasis protocol makes use of a proof-of-stake consensus algorithm to achieve optimal functionality. This is particularly energy-efficient because it doesn’t require users to use energy-intensive computing power to secure the network.
• Low Market Cap – The protocol’s market cap is much smaller than the other privacy coins such as Monero and Zcash. This is typically a positive sign because it indicates that there is still a lot of room for growth.
• Partnerships – Oasis network has an impressive list of application and integration partners. Some of the most notable partners include Binance and Chainlink.

Cons:

• Relatively New – The protocol is much newer than projects that are currently dominating the privacy sector. This can be seen as a downfall because it will take time for the protocol to establish a community as large as its competitors – many individuals consider this to be risky because its competitors already provide users with very similar solutions.
• Competitors – The Oasis Network has performed well since it was launched, garnering significant retail adoption and growing its ecosystem substantially. However, the project is facing some serious competition from the likes of Monero, Zcash, and Decred.