Full description of Oasis Network
The Oasis Network is a scalable, privacy-focused
Blockchain (?) platform built to expand
DeFi (Decentralized Finance) (?) to the mass market. The Oasis Network mainnet was launched on November 18, 2020, with the purpose to provide a high level of scalability, low gas fees, and
Token (?) monetization. Oasis’ other key goal is to improve privacy protection for DeFi to become suitable for storing sensitive data. To achieve it, the Oasis Network implements confidential smart contracts.
To protect data privacy and prevent data leakage, nodes rely on a TEE (Trusted Execution Environment) which works as follows. The encrypted data first goes into the TEE where it gets decrypted. After that, it is processed by the smart contract and gets encrypted again before going out of the TEE.
Oasis implements Parcel SDK as a bridge to help developers get the most out of the privacy solutions. It allows users to automatically implement data ownership and analyze data. This privacy-first data governance SDK is designed to protect user access to their data while integrating apps with the Oasis Network.
The Oasis Network features
The key advantages of the Oasis Network include scalability, low transaction fees, confidential computing, and parallel execution for complex transactions. Oasis can handle up to 1,000 TPS. High network performance is possible due to the separation of computation and
Consensus (?) operations. Thus, the network is based on two layers: the Consensus layer and the ParaTime layer. Such an approach increases scalability and versatility and allows processing transactions in parallel.
The Consensus layer is a scalable and secure Proof-of-Stake mechanism which represents a
Decentralized (?) set of validator nodes operated by independent
Node (?) operators.
The ParaTime Layer hosts runtimes or ParaTimes. The project enables multiple ParaTimes to process transactions in parallel. As a result, simpler transactions do not slow down more complex ones. This layer is entirely decentralized giving an option for anyone to build and develop a separate ParaTime. Also, ParaTime protects the confidentiality of data while it is being processed by leveraging secure enclaves.
The Oasis Network ecosystem
The growing ecosystem of Oasis Network consists of application developers, blockchain infrastructure teams, node operators, the ROSE token, ambassadors, enterprise partners, universities, and regular community members.
The Oasis Network supports the University Program, which has already attracted 25+ top university departments and blockchain clubs. The program participants from 5 continents run nodes and build applications. In addition, the ROSE Bloom grants program was launched to help kick-start the development of projects in a number of key areas.
Another product Oasis Scan is a
Block (?) explorer that also shows active network validators and the necessary information about them. Also, the Oasis ecosystem fund was created to invest in DeFi, data tokenization, and
NFT (Non-Fungible Token) (?) projects.
The ROSE token
The Oasis network is powered by its native utility token ROSE launched on the Oasis Consensus Layer. It is used for covering fees in smart contracts, staking, validating, and delegating.
The maximum supply of ROSE tokens is limited to 10 billion coins. At the time of writing, only 15% of them are in circulation. The tokens were allocated as follows: 23.5% was reserved for
Staking (?) rewards, 23% was sold to backers prior to the mainnet launch, 5% is kept for strategic partners, 18.5% is intended for community funding programs and ecosystem development, 10% went to the foundation endowment to foster the development and maintenance of the Oasis Network, and 20% has been paid to core contributors. Tokens for staking rewards were set to be paid out over a ten-year period.
The ROSE Garden is a farming and staking initiative that consists of two phases: ROSE Farm and ROSE Cultivate. They provide Oasis community members with an easy way to access the ROSE tokens. Token holders help to secure the network by staking ROSE. Each organization must stake a minimum of 100 ROSE tokens.
Validators earn ROSE by running nodes. The number of validators who can become members of the consensus committee is limited to 110. Validators receive staking rewards based on their contribution to the network. To be eligible, a node must verify at least 75% of blocks in the epoch. Rewards range from 2.0% to 20.0% APY. Validators gain voting power proportional to their stake.
ROSE holders who do not want to participate in staking can delegate their coins to validators. This allows them to receive a portion of validators’ staking rewards determined by the number of delegated tokens.
The ROSE token is available for purchase on some of the top
Cryptocurrency (?) exchanges such as Binance, CoinTiger, KuCoin, Mandala Exchange, and ZT. It can be traded against USDT, BUSD, BTC, USD, ETH, and a few other assets. Users can store the ROSE token in one of the official Oasis Wallets which include two non-custodial wallets: the Oasis Web
Wallet (?) and a browser extension named Oasis Wallet.
The Oasis’ team and partners
Oasis is led by a team of academic and entrepreneurial leaders specializing in cryptography, blockchain, security, and machine learning. The network was founded by Dawn Song. She is a professor at the University of California specializing in security and privacy technologies. In addition, she is a winner of the Amazon Web Services Machine Learning Research Awards (AWS MLRA). Gina Tiriakidou, the Head of Marketing, is an experienced blockchain advisor, strategist, and marketing leader. Linda Lu is the Head of the Ecosystem, Tadej Janež is a lead engineer who is also a contributor to Fedora Project. Warren He is a software engineer and Jernej Kos is the Director of Oasis Protocol.
The Oasis network has a growing ecosystem of DeFi partners. Specifically, it has reached strategic cooperation with
Binance exchange (?) to build the CryptoSafe Alliance that allows exchanges to share threat intelligence data. Other partners include Nebula Genomics, a privacy-focused genomics company, Fortune 500 Healthcare, Chainlink, Balancer, and Meter. YuzuSwap is the 1st decentralized
Exchange (or Cryptocurrency exchange) (?) built on Oasis.
The Oasis key fund backers include such giant investors as Andreessen Horowitz, Binance, NGC Ventures, Dragonfly Capital, Pantera, Draper Associates, Accel, and Huobi.
- Exchange symbol (?): ROSE
- Cryptocurrency type (?): Token (?)
Oasis Network for developers
Oasis Network social sites
Source: NOMICS
