Oasis Network
ROSEThe Oasis Network was launched at the end of 2020 with the promise of introducing the crypto community to the next generation of blockchain technology that focuses heavily on security and privacy.
The project has already partnered with some global corporations such as BMW Group and Binance and received funding from top investment firms. Thanks to its thriving community, strong developer team, and an array of unique features, Oasis has a lot of potential in the long term.
This article will dive into the Oasis Network to reveal the details behind this up-and-coming project that’s looking to take on the leading layer-1 blockchains.
Oasis Network Exchange Rate
ROSEThe Oasis Network: How does it work?
The Oasis Network proof-of-stake (PoS) layer-1 blockchain is optimized for high-security transactions using unique features such as tokenized data, scalable DeFi, and parallel Smart Contract layers.
The network’s features and transaction speeds (TPS) in excess of 1,000 per second make Oasis a potentially revolutionary blockchain that could compete with the big layer-1 players such as Ethereum (ETH) and Cardano (ADA).
Enhanced Privacy and User Confidentiality
The high level of confidentiality is one of the cornerstones of the Oasis Network, and it’s achieved through its private smart contract building platform. The private smart contracts are built using end-to-end data that can’t be accessed by anyone outside of the parties involved.
Essentially the platform makes it possible to build private dApps, potentially creating a market of private DeFi applications that, if successful, would revolutionize the field and drive a tremendous amount of traffic towards the Oasis blockchain.
Tokenized Data
By combining blockchain tech with the confidentially driven approach of Oasis, the developers have tokenized user data on the network. As a result, users can profit from providing their data for on and off-chain analysis by tokenizing data.
Ownership of data through tokenization is a massive theme in web 3.0 projects. The web3.0 community believes that large corporations such as Meta and Google are stealing from internet users by not rewarding them for their data.
Oasis: A Community-Driven Approach
In the true spirit of crypto and decentralization, the Oasis project is being built by a flourishing community that ranges from dApp developers to universities. The community runs nodes, develops new use cases, and creates privacy protocols within the ecosystem. Furthermore, the Oasis Network has a grants system that distributes funds in the form of ROSE tokens to promising projects.
What Makes Oasis Network Unique?
As you can see, the Oasis Network is a seriously ambitious project; some of its features are simply improvements on already existing layer-1 capabilities, such as higher TPS; but it also has several unique features, including:
ParaTime: this feature allows network users to build custom-made private protocols for their dApps while preventing the congestion of the primary blockchain layer.
Scalable DeFi: the project’s developers claim that by creating the first privacy-focused DeFi platform Oasis has opened the door to a more secure DeFi market that can be scaled quickly by users.
Upgraded NFTs: the next generation of NFTs will secure their value directly from the data contained in the NFT; this will make NFTs more dynamic by allowing them to store more complex data such as financial records and medical data. If Oasis gets a head start on the next generation of NFTs, expect big things from this project.
How Many Oasis Network (ROSE) Coins Are There In Circulation?
According to CoinGecko, the total supply of ROSE coins is 408,665,849, and the Oasis developers have stated that the maximum supply is capped at 10 billion.
According to Oasis.dev, the ROSE tokens are distributed as follows: 23.5% staking rewards, 23% backers, 20% core contributors, 18.5% community & ecosystem, 10% foundation endowment and 5% strategic partners and reserve.
The Oasis Network’s Team
The Oasis Network’s team is made up of people from big tech companies such as Amazon and Apple, along with graduates from Ivy league universities such as Stanford and Harvard. Oasis Labs was founded by Dawn Song, a computer security expert from the University of California, Berkeley, with support from dozens of engineers with PhDs.
Much of the funding for the project has come from top VC firms and investors, including Binance Labs, Polychain, and Andreessen Horowitz.
How Is the Oasis Network Secured?
The Oasis Network has taken a unique approach to keeping the blockchain secure by incorporating two layers.
The Consensus Layer is a highly scalable network that uses a proof-of-stake (PoS) consensus system managed by decentralized nodes that process transactions for ROSE rewards.
The ParaTime Layer is made up of parallel chains known as ParaTimes, which can be built to fit the specific requirements of dApps and reduce pressure on the consensus layer and therefore preventing a slow down in TPS.
To secure the network, nodes are required to stake ROSE; if they verify transactions correctly, they’re rewarded with ROSE tokens; however, if they are caught trying to cheat the system, their staked ROSE will be slashed.
How to exchange ROSE
Swapping any other crypto for ROSE through Swapzone is extremely easy and ensures that you pay minimal transaction fees by comparing 15+ exchange providers. Follow these simple steps to swap ROSE:
- Select coin for ROSE exchange.
- Enter the total amount of coin you are going to exchange.
- Choose the best swap offer.
- Click on the Exchange button.
- Enter your wallet address to receive ROSE to your wallet.
- Send your deposit to the generated address.
- Wait for your swap to be done.
- Finally, receive your ROSE in your wallet!
Frequently asked questions
What is the Oasis Network exchange rate?
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Where to find the lowest transaction fees?
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
What is average transaction time?
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
How to choose a cryptocurrency wallet to store Oasis Network?
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
What is the best cryptocurrency exchange for beginners?
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
What is Swapzone?
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
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