About Oasis Network (ROSE)

Oasis Network is a privacy-focused layer-1 blockchain protocol.

A “network of networks,” Oasis combines a base Proof-of-Stake (PoS) consensus layer with an underlying web of DeFi, NFT, Metaverse and Web3 projects which are known as “ParaTimes.”

The platform has a native token, ROSE, that is used to pay transaction fees and execute smart contracts. ROSE can also be stake or delegated on the platform for an annual yield.

Like other layer-1 solutions (e.g., Polkadot and Avalanche), Oasis actively separates smart contract execution from consensus, allowing the network’s various ParaTimes to process transactions in parallel (i.e., at the same time), resulting in throughput speeds of 1 million TPS (in theory) at minimal cost to the end user.

According to project documentation, ParaTimes operating on Oasis are fully customizable. Networks can be built with or without associated permissions – depending on the application – and they have the capacity to implement confidential smart contracts that ensure customer data remains private during execution.

As of June 2022, Oasis supports three native ParTimes: the Ethereum Virtual Machine (EVM)-compatible Emerald ParaTime; Cipher ParaTime for private smart contract execution; and Parcel ParaTime for enterprise grade data storage. Per documentation, Parcel’s storage services are currently leveraged by the likes of Nebula Genomics and BMW. In theory, anyone can build a use specific ParaTime using the protocol’s development resources.

Oasis Network introduces a new paradigm: data tokenization. It allows users to share their private information – for a tokenized fee – to applications seeking to analyze it. The protocol hopes this kind of information monetization will help foster a new “data economy.” 

Oasis’s confidential computing procedures ensure tokenized data stays private during analysis, a functionality which could serve particularly helpful in the healthcare field. As of June 2022, over 75 healthcare providers worldwide – including Stanford Medicine - were leveraging confidential consumer data staked on Oasis. 

According to CoinTelegraph, Oasis is bent on developing a full-fledged ecosystem of decentralized applications (dApps). In November of 2021, the project launched a $160 million fund to provide resources to developers looking to build on Oasis. 

When was ROSE created and how much was it worth?

The project was born in 2018. It’s backed by a team of leading blockchain engineers with experience at firms such as Apple, Google and Amazon. It was founded by UC Berkeley professor Dawn Song.

The network’s native token, ROSE, was first released via a private sale in July of 2018 at a price of $0.03. According to Messari, the offering raised roughly $45 million from various industry backers including a16z and Binance Labs. Oasis’s mainnet went live two years later in November of 2020.

Pricing data from CoinGecko indicates that ROSE consolidated briefly following Oasis’s mainnet launch before rising to a local high of $0.23 in March of 2021.

ROSE once again peaked in late 2021, culminating in the token hitting a record high of $0.59 in January of 2022. An uncertain macro environment has since taken its toll on ROSE’s price.

How is the price of ROSE determined?

ROSE is a deflationary asset with a hard cap of 10 billion tokens. CoinMarketCap said 23% of the token’s total supply (2.3 billion tokens) was initially distributed via private sale in 2019, while an additional 20% was allocated to Oasis’ core development team. Some 23.5% of supply is earmarked for future staking rewards and 18.5% is reserved for community/ecosystem development.

 As of June 2022, there were 5.03 billion Rose tokens in circulation.

Why does ROSE have value?

A competitor to the Ethereum Network, Oasis’s value owes to its higher throughput speeds and lower transaction costs relative to the original “network of networks.”

Likewise, the network’s concept of data tokenization creates a new paradigm which will allow blockchain, Web3, DeFi, and metaverse users to monetize their personal data while maintaining a degree of confidentiality.

Is ROSE secure?

Oasis Network’s base consensus layer is backed by PoS consensus. Validators stake ROSE tokens to the protocol to partake in consensus and help secure the network.

The base consensus layer works to validate and confirm various transactions executed in parallel by Oasis’s network of ParaTimes.

What are the main benefits of ROSE?

• Through its ParaTime scaling architecture, Oasis Network is marketing itself as a much cheaper alternative to Ethereum, whose exorbitant gas fees continue to be a source of concern for users, said CoinTelegraph 
•  Oasis’s concept of data tokenization creates a new paradigm that allows users to monetize their personal information.
•  Independent ParaTimes running on the network are customizable with both permissioned and permissionless applications.

What do the critics say about ROSE?

If the team fails to implement the required upgrades, CoinPedia recently said, the coin might end up under bearish pressure. Not being able to market and advertise the network effectively is also a risk. If such concerns wind up being warranted, the token could slide, CoinPedia said.