What is Oasis Network （ROSE）? Open finance and protected data blockchain

What is Oasis Network? Oasis Network is a Layer-1, smart contracts blockchain that focuses mainly on establishing thorough privacy and security in its open finances for DeFi projects, and is built using the Cosmos blockchain (Cosmos SDK).

How does Oasis Network work?
Tokenized Data - The blockchain allows for the registration and application of use policies with high integrity and authorship capacity. Confidential computation under this tokenized data term guarantees that any data which runs through the Oasis Network stay private while it’s in the chain, unable to be reutilized without the direct owner’s permission.

Private and scalable DeFi - By offering edge-to-edge data confidentiality in its blockchain, Oasis Network reveals new and interesting use cases for DeFi. With privacy being a major concern for traditional markets to integrate their products into crypto, the Oasis blockchain could help build the bridge between major financial institutions and DeFi services.

ParaTimes - ParaTimes processes transactions in parallel with the core network, which means that complex workloads processed in one ParaTime will not slow down the fastest and simplest transactions in another side of the network. It makes Oasis Network more efficient than most parachains, and even requires a smaller replication factor to the same level of security.

ROSE token: The crypto asset that feeds the network, holding three core functions within Oasis: it is used for transaction fees, staking to earn rewards and as a governance asset within the Consensus Layer.

What is Oasis Network (ROSE)?

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Oasis Network is a Layer-1, smart contracts blockchain that focuses mainly on establishing thorough privacy and security in its open finances for DeFi projects, and is built using the Cosmos blockchain (Cosmos SDK). A fully decentralized endeavour, Oasis is built by developers, software engineers, security experts and other contributors from all over the world. Decentralization doesn’t mean the talents involved are scarce, as members involved include previous employees and even investors from companies such as Apple, Amazon, Google, Goldman Sachs and more. One of the most noteworthy contributors is Andreessen Horowitz, venture capital founded by Marc Andreessen - a software developer known as the creator of the popular web browser through the application Mosaic and later in founding the web company Netscape.

The Oasis Network also had a recent partnership announced with Meta, formerly Facebook, to facilitate blockchain-based AI computing applications.

The project was developed to work on decentralized applications (dApps) and other use cases that promote data privacy and user confidentiality. It seeks to reach this goal by separating its consensus layer from the contract execution layers, while simultaneously supplying an integrated interface that connects both networks across transactions and therefore preserving user privacy.

For the consensus layer, the area works as a central hub based on Proof of Stake (PoS) mechanisms in order to protect and validated transactions in the network. The execution layer, however, consists of a novel technology created by Oasis; made in several different execution patterns, called ParaTimes, for different needs within the networks that are built on the consensus layer.

How does Oasis Network work?

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The Oasis Network has three main layers, and top features, that makes the project stand out and become a novel crypto initiative; Tokenized Data, scalable and private DeFi, plus the previously mentioned ParaTimes.

Tokenized Data
The Oasis Network created a new form of confidential computation and blockchain data processing under a new framework entitled “Tokenized Data.” The blockchain allows for the registration and application of use policies with high integrity and authorship capacity. Confidential computation under this tokenized data term guarantees that any data which runs through the Oasis Network stay private while it’s in the chain, unable to be reutilized without the direct owner’s permission. This blockchain private data capsule allied with new privacy policies creates a kind of digital asset that can be traded and stored according to directives specified by its creator and agreed upon by using parties.

Tokenized Data can feed the next generation of apps that prioritize privacy into unlocking a whole new world of responsible data usage. Data providers attached to the Oasis Network can put all their tokenized data and assets in use, without having to worry about the privacy directives at play. In return, they are able to receive rewards for putting their data onto applications that wish to analyse it or customize how their confidential information is consumed by the services they use.

Private, scalable DeFi
The Oasis Network was projected to offer support to private smart contracts, allowing users and network contributors to keep the full privacy of their data throughout the entire processing. By offering edge-to-edge data confidentiality in its blockchain, Oasis Network reveals new and interesting use cases for DeFi. With privacy being a major concern for traditional markets to integrate their products into crypto, the Oasis blockchain could help build the bridge between major financial institutions and DeFi services. JPMorgan or Citi Bank, for instance, could offer their services in a decentralized manner for crypto users without any concern for the protection of their data.

The scalable resources present in the Oasis Network could also unlock DeFi’s potential by correcting the high transaction rates and slow transfer speeds that affect plenty of Layer-1 projects, with Ethereum network being the most popular ecosystem to suffer from this obstacle. Its unique capacity to offer private, secure and scalable DeFi frameworks buts Oasis Network at the bleeding edge to unlock the next generation of markets and use cases for DeFi.

ParaTimes
Mentioned previously in this piece, Oasis’ impressive scalability is obtained through a combination of resources, but its superior speed is owed to the separation between computational operations and the consensus layer through what the project calls the ParaTimes chains.

This separation allows for various ParaTimes to process transactions in parallel with the core network, which means that complex workloads processed in one ParaTime will not slow down the fastest and simplest transactions in another side of the network. Besides, the detection of this sophisticated discrepancy makes Oasis Network more efficient than most parachains, and even requires a smaller replication factor to the same level of security.

ROSE token, the Oasis Network Token

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I’m sure plenty of users are often curious as to why Oasis’ token would be called ROSE, and it’s an allegory to the Oasis itself - a fertile land within a desert, which is barren of water, fauna or plants. One of the universal symbols of hope and fertility for a land is a flower - in this case, a ROSE. Therefore, ROSE is the token that feeds the network, giving it its fertility to function.

The ROSE token has three functions: it is used for transaction fees, staking to earn rewards and as a governance asset within the Consensus Layer.

There are several ways to earn a ROSE token, but the main ones are as follows:
1.Earning rewards by completing challenges of the Oasis community or becoming an Oasis ambassador

2.Becoming a validator by running a node on the Oasis Network

3.Earn a ROSE Grant, an investment treasury created by the Oasis Foundation to boost projects that can greatly benefit the Oasis Network



Author: Gate.io Researcher: Victor Bastos
* This article represents only the views of the researcher and does not constitute any investment suggestions.
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