The Oasis Protocol boasts itself as the first-ever privacy-enabled and layer 1 blockchain network. With its growing ecosystem, the network is definitely out to challenge the Ethereum giant as it offers privacy and scalability to DeFi. With its confidential computing and blockchain, it enables Tokenized Data, a new paradigm. With this paradigm, users are incentivized by staking their data with apps without losing control over it. Oasis Paratime ensures fast transaction, speed, high scalability, and bulk workloads by separating execution from consensus. It is also the first blockchain network that supports confidential smart contracts.
In 2018, Dawn Song, a Chinese American academic and a professor at the University of California, Berkeley founded Oasis Labs, the developer of the Oasis network. The Oasis Network, a smart contract platform was built using the Cosmos SDK. The network utilizes a proof-of-stake consensus mechanism. It has also received funding from respected VC firms and investors which include Andreessen Horowitz, Accel, and Binance.
The Oasis team consists of researchers, security experts, and privacy advocates who have previously worked for renowned companies like Apple, Google, Amazon, Goldman Sachs, UC Berkeley, Carnegie Mellon, Stanford, and Harvard. It has also offered the largest University program on a Layer 1 blockchain network which is now available to 25 leading university departments and blockchain clubs across 5 continents. This is in line with the network’s vision that it will have a best-in-class validator pool and a top-tier community active on the network at Mainnet.
The network’s privacy and confidentiality features create opportunities for new use-cases like under-collateralized loans, private dark pools, private automatic market makers, private stablecoins, private oracles, private payments, private, and could be even more. Data privacy has been a long-standing issue for all web users. Tech-giant Facebook has been slammed for allegedly sharing its users’ data with third parties. Even Google, the leading internet browser was accused of selling users’ data but denied the allegation according to a statement by Sundar Pichai.
“Google will never sell any personal information to third parties; and you get to decide how your information is used.”
But despite their denial, the accusation remains. The entry of the privacy-enabled network will soon give these companies a run for their money. With the network’s continued growth receiving funding from companies worldwide and partnerships including Meta – it will definitely take the world by storm, especially with the entry of the Web 3.0 version. The race is on to unseat Ethereum as the “most favorite smart contract platform” among developers. Will Oasis become the strongest contender? With Oasis network’s 1,000 TPS still way behind Solana’s 65,000 TPS, it should really work double time. But the beauty of the network lies in its privacy features. Truly, it’s the crypto world’s privacy guardian. In a world where data breaches have become a major and persisting problem, the Oasis network may soon provide the solution. Its privacy features allow sensitive data including health, financial, and personally identifiable data to exist on-chain. With the Oasis community pushing for its adoption in the real world, this could happen anytime soon. Today – the crypto world, and soon – the real world.
ROSE (Oasis Network), the native token of the network which started trading at only $0.06802 in November 2020 has increased by almost three times from its current price of $0.173734 in data by Crypto.co. This clearly shows the investors’ level of trust and confidence in the altcoin and Oasis network. Definitely, one of the top DeFi projects to invest in for the long term. ROSE (Oasis Network), the network’s native token is now one of the top altcoins worth adding to crypto investors portfolio.