The Oasis Network (ROSE) is a decentralized Proof-of-State network that provides confidential and secure data exchange. It is created by Oasis Labs in 2018. This project helps ordinary users to control their data and companies to analyze or share data securely.
ROSE is the native token of the Oasis Network ecosystem. The ROSE coin is used to pay for network transactions fees, place stakes, and delegate authority at the consensus level. The Oasis Network (ROSE) token has a limited emission: the maximum number of ROSE tokens will be 10 billion. As seen in the Overview section on this page, about 3.5 billion tokens are currently in circulation. It also shows up-to-date info on ATH Oasis Network price, market capitalization, and trade volume.
What are Oasis Network’s key features and how does it work?
The project is based on its own Oasis blockchain. It is a highly scalable, low-fee network that expands app and DeFi use cases by offering support for data privacy. That is, decentralized financial services will be able to find applications in the corporate sector and consortiums. Data sharing features allow sharing sensitive data with other organizations by maintaining and configuring data access and analysis permissions.
The decentralized network uses the PoS algorithm. The basic component is the level of consensus. It includes sets of nodes that keep the blockchain running and secure. Nodes are managed by operators. Since the developers aim to create a public platform, they have made connecting a node as simple as possible, and the entry barrier for stakers is minimal.
The developers initially provided for an automatic distribution mechanism: 2.3 billion units of cryptocurrency are allocated for rewards to node operators and delegators. They get paid for keeping the network secure.
A distinct feature of Oasis Network is the creation of a computing machine that supports confidential smart contracts. In it, the nodes use the Trusted Execution Environment technology, which is an analogue of the “black box”. The technology acts as a guarantee that any information will not be disclosed to the node validator or the programmer who launched the dApp.
What makes Oasis Network noteworthy?
The platform is compatible with the Ethereum Virtual Machine and the Solidity programming language, which is the language most smart contracts are written in. This simplifies the creation of new dApps. Also, applications previously created on the Ethereum network can be transferred to the new blockchain.
The project allows for data tokenization by combining privacy technologies and the project’s own blockchain. Suppliers will be able to receive rewards for placing encrypted information in applications that want to analyze it.
The Oasis Network project has great forecasts as developers are constantly improving the ecosystem, making it more secure and powerful, which ultimately increases the value of the ROSE token. If you would like to check out the current ROSE market price, see the price charts on this page.
Where can you buy Oasis Network?
Oasis Network coin can be bought on all popular exchanges. You can find what exchanges are selling this token under the market tab, where you will also see the latest high and low prices of Oasis Network along with other data.