What is Oasis Network (ROSE)?

asis Network is a Layer 1 Proof-of-Stake (PoS) blockchain founded in 2018 and launched its mainnet in 2020. Their mission is to create a more scalable and privacy-focused blockchain than Ethereum, making ROSE an ETH killer.

We can all agree that most blockchains are absent of privacy. This is a big problem that most seem to ignore. Anyone can check out your wallet, transactional history and network interactions. Oasis Network has come up with the perfect privacy solution. Let me explain.

How Does Oasis Network work?

The Oasis Network is able to provide superior scalability and privacy by separating its PoS consensus layer and the unique ParaTime layer. This is how it works:

Consensus Layer

This is the layer that uses the Proof-of-Stake algorithm. Like every PoS blockchain, Oasis requires Validator Nodes to lock up ROSE tokens in order to validate blocks on the network. All Validators are rewarded with ROSE tokens for running a node.

ParaTime Layer

Put simply, ParaTimes are ‘runtime environments (RTE)’ that act as operating systems that provide all the essentials for a programme to run. The ParaTime layer is the execution layer of the Oasis Network.

The consensus and execution layers are separated in order to process multiple transactions side-by-side. This creates a more scalable and versatile network. In terms of privacy, Oasis Network designed what’s called a Confidential ParaTime. Let me explain.

Confidential ParaTimes are designed to support confidential smart contracts. These ParaTimes require nodes to use what’s called a TEE (Trusted Execution Environment). Imagine a TEE is a black box for the execution of a smart contract in this ParaTIme.

First, the smart contract and any encrypted data will go into the black box. The data is then decrypted, processed by the smart contract and then once again encrypted before it is sent out of the black box (TEE). This process guarantees user data is never leaked, it’s genius!

Oasis Network Ecosystem

We could go through the hundreds of dApps within the Oasis Network’s ecosystem, but here is a handful that I’ve picked out:

Yuzu Swap - Native Oasis AMM DEX with extremely low fees and passive income opportunities
MultiChain - Leading multi-chain protocol that connects most blockchains in existence, all through a cross-chain router!
MetaMirror - Providing real-world utility by bridging data from Web2 to Web3!

There are many more utilising the ultimate privacy-focused blockchain and its native token $ROSE.

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Oasis Network (ROSE) Roadmap

The 2023 Oasis Roadmap will be a game-changer for the protocol. Why?

Oasis Privacy Layer Launch - Early 2023
Zero-Knowledge Trustless Bridge to Ethereum - Date TBA
Core Security improvements - Q2 2023
Oasis Wallet UI Update
AI

So much more en route, check it out by following this link!

ROSE Token

Native to the Oasis Network is the ROSE token which powers the entire ecosystem. It has a variety of utilities and is a deflationary token.

Firstly, the primary utility of the token is transaction fees, which most people know as gas fees. Any transaction made on the network will require ROSE, whether that is sending, swapping or interacting with a decentralised application (dApp).

Secondly, as we have mentioned above, the Oasis Network is a PoS blockchain which requires Validators to delegate ROSE tokens on the consensus layer (PoS). Validator nodes are responsible for validating all the transactions (blocks) on the network.

Thirdly, the average user is able to help secure the network by staking their ROSE tokens to Validator Nodes. When the Oasis Network launched, the team set aside a total of 2.3B (23% of the Total Supply) ROSE tokens as Staking rewards!

As I mentioned, ROSE is a deflationary token and has a Maximum/Total supply of 10B tokens. Currently, over 65.42% of the tokens are in circulation and this is because many tokens are locked up and are scheduled for a gradual release. It will take years for the total supply to enter circulation, but at least the network is proven scalable!

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How to Buy ROSE

The ROSE token is available on Ethereum, Avalanche, BNB Chain and the Solana network. ROSE can also be found on 99% of major centralised exchanges.

There are two main ways to buy ROSE, but you will always go through a centralised exchange (CEX). Here are the options:

Option 1- Centralised Exchange

We recommend using one of these centralised exchanges when buying or trading the ROSE token. Here is a list of CEXs with a few delicious promotions:

Binance - The most popular CEX in the world
ByBit - EARN UP TO $30K in DEPOSIT BONUSES
BitGet - Trade on BitGet and receive 0% Deposit Cashback + $5,000 DEPOSIT BONUSES
Coinbase - Spend $100 and Get $10 back!

Option 2 - DeFi Wallet & Decentralised Exchange

To get started you will need a DeFi wallet and make sure to secure your seed phrase with a hardware wallet (Trezor):

If you are buying ROSE through your DeFi wallet, we recommend using Avalanche or the BNB Chain as Ethereum gas fees are very expensive. Alternatively, you can use the Solana network which is cheap in gas fees too (SOL). If you haven’t set up the Ethereum, Avalanche, BNB Chain or Solana network, you can follow our YouTube tutorials down below. Here are the essential links:

Conclusion

At the time of writing, ROSE is sitting at a price of $0.041, ranked #102 on CoinMarketCap and has a market cap of $268.3M! The ROSE token once peaked at an all-time high of $0.59 and reached a market cap of over $1.98B!

The Oasis Network is definitely a worthy Ethereum Killer. Privacy will soon become a staple for blockchains that wish to become adopted worldwide. If not, they will suffer and be left behind. Privacy-enabled blockchains will be the narrative of the future.