Oasis Network Overview

What is Oasis Network ?

The Oasis Network is a Layer 1 decentralized blockchain network designed to enable open finance privacy and a responsible data economy. Combining outstanding technology features provides the foundation for building next-generation projects for Web3.0, DeFi, Metaverse, DAO, and NFT on the Oasis Network.

Oasis’s security features could also create a new type of digital asset called Tokenized Data that allows users to control the data they generate and earn rewards for staking it with apps

Oasis network structure

Network structure:

The network has two main architectural components, the Consensus Layer and the ParaTime Layer 

–The Consensus Layer is a scalable, high-throughput, secure, proof-of-stake consensus run by a decentralized set of validator nodes.

The Consensus Layer receives, examines and stores the values sent by the Paratime layer.

–The ParaTime Layer hosts many parallel runtimes (ParaTimes), each representing a replicated compute environment with shared state.

The ParaTime Layer runs a smart contract, encrypts the data, and sends the resulting encryption to the Consensus Layer for validation and storage.

Outstanding technology features of Oasis Network

The Oasis Network offers the following salient features:

• Scalability

Due to the separation of computation and consensus operations of the Consensus Layer and ParaTime Layer, allowing multiple ParaTimes to process transactions in parallel, it means that complex workloads processed on a single ParaTime will doesn’t slow down faster, simpler transactions on another ParaTime. Plus, the network’s sophisticated divergence detection makes Oasis more efficient than sharding and parachains, which require a smaller replication factor for the same level of security.

• Privacy-First

The Oasis Network designed the first secret ParaTime with support for secret smart contracts. In a secret ParaTime, nodes are required to use a type of secure computing technology called TEE (Trusted Execution Environment.) The TEE acts as a hypothetical black box for smart contract execution within a ParaTime. secret. The encrypted data goes into the black box along with the smart contract, the data is decrypted, processed by the smart contract and then encrypted before sending out of the TEE. This process ensures that data remains secure and is never leaked to the node operator or application developer..

• Versatility

Designed to support the next generation of blockchain applications, the Oasis Network is incredibly versatile, agile, and customizable. Namely, each ParaTime can be developed in isolation to meet the needs of a specific application. ParaTime committees can be made large or small, open or closed, allowing for faster or more secure execution depending on the requirements of a particular use case. Nodes can be required to have specific hardware, such as Secure Enclaves on a confidential ParaTime. Each ParaTime can similarly run different Runtime VMs (ParaTime Engines), such as EVM backwards compatible engine, Rust-based smart contract language, or a Data tokenization engine. Finally, to support enterprise and developer use cases, ParaTimes can be made Permissioned or Permissionless, allowing consortiums to have their own closed ParaTime, or communities to have full decentralized open ParaTimes.

The versatility of the ParaTime Layer allows the Oasis Network to expand and grow to address a broad set of new and exciting use cases while still maintaining the same core ledger and consensus layer.

Oasis Ecosystem

The Oasis ecosystem is thriving and rapidly including industry leading application developers, blockchain infrastructure team, node operators..etc..

With a vision of privacy as an essential part of web3, the project recently established a $200 million fund to fund developers and projects looking to build projects on the Oasis Network

Some advantages of the Oasis ecosystem

• Privacy-Enabled Blockchain: The Oasis Network is the world’s leading scalable, privacy-enabled blockchain. ParaTimes on the Oasis Network can leverage privacy-preserving technology enabling users to share their data to earn income while keeping it totally confidential, unlocking new Web 3 use cases like digital identity and private metaverse applications for blockchain.

• Scalable, Private DeFi: The DeFi market is still in its infancy, with trillions of dollars in existing financial markets ready to enter the space. The expansion of DeFi is limited by a lack of privacy, security as well as high fees. The result is an overloaded and expensive system that’s impossible to scale. Oasis Network is a Layer 1 blockchain that can expand DeFi beyond early adopters into mass-market adoption.

• Enables Data Tokenization: The Oasis Network can Tokenize Data. This will unlock game-changing use cases for blockchain, and an entirely new ecosystem of apps and projects on the network, powering the next generation of privacy-first applications that reward users for the value they create.

• Rapidly Growing Community: The Oasis Network has a thriving community of node operators, developers, enterprise partners, ambassadors, and community members engaged in global social channels.

• Top-Tier Team: The Oasis Team is made up of top talent, from around the world, with backgrounds from Apple, Google, Amazon, Goldman Sachs, UC Berkeley, Carnegie Mellon, Stanford, Harvard, and more. All the core engineering team are PHD level educated and all committed to growing and expanding the impact of the Oasis Network.

Rose Token

*Token use case:

ROSE is the native token of the Oasis Network project used for transaction fees, staking and authorization at Consensus Layer.

•  For the consensus layer:

Use as transaction fee

Validators need to stake Rose to have the right to confirm transactions

• For the ParaTime layer:

ParaTimes can use Rose to pay transaction fees

*Key Metrics :

• Token Name: Oasis ROSE
• Ticker: ROSE
• Blockchain: Oasis Blockchain
• Token type: Utility
• Total Supply: 10 B token
• Circulating Supply: 3.49B ROSE

*Token allocation:

The amount of ROSE tokens to be allocated as a percentage is below:

Roadmap

Backer

Between 2018 and 2020, Oasis raised more than $45 million from backing investors, including:

Conclude

With the ability to handle private security smart contracts, Oasis Network is absolutely necessary in the upcoming blockchain future. Hopefully the project will continue to expand and develop.

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