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Oasis Network (ROSE) Report & Analysis

Written by Thawon Preyawan

December 17, 2021

What is Oasis Network (ROSE)?

Oasis Network (ROSE) is a layer 1 blockchain built for revolutionizing open finance that is focused on privacy and a responsible data economy using the Cosmos SDK. With the power of ROSE, the native currency of the Oasis Network, Oasis prioritizes use cases that promote data privacy and users’ data confidentiality (personal or sensitive data) and aims to power private, scalable DeFi and expand it beyond traders to the mass market. The network’s goal is for users to be able to control data usage while still benefiting from the utility of data sharing and analysis.

Oasis achieves high throughput and flexes a secure architecture by connecting the multiple consensus layers, allowing support for ParaTimes. This blockchain structure for Oasis, connecting multiple different blockchains within one ecosystem is remarkably similar to that of Polkadot (DOT). Oasis Network uses the secure computing technology called proof of stake (PoS) consensus mechanism, which is less prone to centralization and is seen in Ethereum as well as other coins in the crypto market.

Oasis Network’s Approach to Data Privacy

One of the most significant aspects of the Oasis Network is its commitment to data privacy. As the world becomes more interconnected, and as data becomes an increasingly valuable asset, the need for privacy and security is paramount. The Oasis Network aims to provide a solution to this challenge by offering a platform where users can maintain control over their data while still benefiting from the utility of data sharing and analysis.

The Oasis Network incorporates a privacy-first approach by leveraging secure enclaves and confidential smart contracts. These technologies ensure that sensitive information is encrypted and accessible only by authorized parties, without compromising the functionality of applications built on the network. This approach opens the door for a wide range of use cases, such as medical data sharing, credit scoring, and private DeFi applications, which would otherwise be infeasible or too risky on traditional blockchain platforms.

Partnerships of Oasis Network

Photo by Oasis Foundation

Oasis Network has some incredible partnerships in its short existence, with one leading healthcare company and many industry leading app developers. Oasis Network’s support is huge and their pockets are running deep with their most recent partnership with Binance.

Binance Academy, the largest university program of cryptocurrency in the world, has partnered with Oasis Network to grant $300 Million towards developers building in either on the Oasis Network or using the Oasis framework. There’s a handful of enterprise partners already on board with Oasis Network and its only a matter of time before we see oasis labs and a core developer or two start to really push out smart contracts and enable users to experience a rapidly growing ecosystem consisting of confidential smart contracts.

A few weeks ago, the Oasis Foundation finally revealed the Fortune 500 Social Media Company partnership, Meta (Formerly known as Facebook). They are partnering up to capitalize on a fascinating application of secure computing technologies in AI. Another notable partnership with Oasis is with Google Cloud Platform to bring their confidential computing product, Confidential VMs, to Oasis Parcel. 

Who are the Founders and Backers of Oasis Network?

Oasis Network (ROSE) was founded by Dawn Song and is an unfortunately rare illustration of a blockchain company founded by a lady. Dawn Song is a professor in the Department of Electrical Engineering and Computer Science at the University of California at Berkeley and has spent considerable time probing and erecting security and insulation technologies, particularly in areas like cryptography, blockchain and machine knowledge. She has won an Amazon Web Services Machine Learning Research Award for her add “Guarding the general public Against AI-Generated Fakes” and has held senior places at high- growth security enterprises like Ensighta Security and Menlo Security. Also, the network is backed by several high-profile VC enterprises and investors, analogous as Andreessen Horowitz, Accel, Binance Labs and multitudinous others. 

What Makes Oasis Network Unique?

Oasis Network (ROSE) is erected to support a prominent position of scalability, low gas freight and token monetization. It also aims to advance insulation features to grease the use of sensitive data within DeFi. It achieves scalability by the separation of agreement and execution, thereby allowing multiple ParaTimes to exercise deals in resemblant and preventing simpler deals from breaking down more complex bones.

Since the ParaTime estate (the execution estate) is entirely decentralized, anyone can develop and make their own ParaTime, which can be open or unrestricted, depending on the innovator’s conditions. Binance is erecting a CryptoSafe Alliance, another unique feature being built on the Oasis Network, allowing exchanges to partake trouble intelligence data. Thanks to Oasis’ confidential computing technology, exchange data is kept confidential indeed while it is being compared. BMW is testing operations of discriminative insulation in their internal systems and storing the accesses on an Oasis-operated table. 

Private DeFi (DarkFi)

Photo by Oasis Foundation

Oasis Network unlocks intriguing new use-cases like tokenized data and private Decentralized Finance (DeFi). These use cases are considered revolutionary and instigative primarily because Ethereum cannot presently support this function.  

Still, also DeFi can use this capability to unleash new products and use cases. If your data (token balances and other blockchain relations) can be used for calculation without being revealed to a third party. Oasis Labs partnered with Binance to develop CryptoSafe, a platform that allows exchanges to partake trouble intelligence data. Thanks to the nonpublic calculation enabled by the Oasis network, exchange data is indeed kept nonpublic while it is being compared. 

Scalability of Oasis Network

Oasis has phenomenal upside potential, as it can scale and process transactions up to 1,000 transactions per second. Compared with Ethereum which handles 13.33 transactions per second, Oasis Network can reuse and handle about 75x more per second.

Every DApp structure on Ethereum must use the same runtime indeed though it isn’t the most ideal for their use case. A runtime is simple the terrain that an operation is erected on. For illustration, the ideal prosecution terrain for a DAO (decentralized independent association) is different from that for a DeFi operation. Simply put, not all surroundings are ideal for all use cases.  

This makes Ethereum incompletely confining. With the use of ParaTimes, Oasis can offer a wider range of surroundings to DApp builders, therefore perfecting the versatility of the computational subcaste. Again, this structure is remarkably like Polkadot which runs with multiple parachains in parallel.  

Because this ParaTime design structure comes with isolatability inbuilt, it’s insolvable for a failure in one ParaTime to affect the entire system. Further, any inventor can produce a new ParaTime terrain and emplace it for others to make on. Presently, there’s an EVM compatible ParaTime that enables Ethereum-native operations to emplace on Oasis with minimum changes.

How many ROSE Tokens are there in Circulation?

The current circulating supply of Oasis Network (ROSE) is ~3.5 Billion tokens, with a Max Supply of 10 Billion. The name is a bit confusing because its known as the ROSE token, but is called the Oasis Network in long, and is why we believe it has had a hard time initially pushing through the mainstream market.

• 23.5% – Staking Rewards

• 23% – Backers

• 5% – Strategic partners & reserve

• 18.5% – Community & Ecosystem

• 10% – Foundation Endowment

• 20% – Core Contributors

2.3 Billion tokens will be automatically paid out as staking rewards to users staking and delagators (node operators) for securing the network over the span of 10 years. These rewards will decrease overtime as the digital asset matures, very similar to that of any other blockchain or decentralized network. This will make way for external parties to enter on their ROSE token positions while the core users retain ownership of the network.

You can either stake the tokens yourself or delegate your vote to a node operator where your data remains private and you receive the rewards, but they do the voting for you.

Oasis Network Community and Ecosystem

A strong community and ecosystem are essential for the long-term success of any blockchain project, and the Oasis Network is no exception. The Oasis Network boasts an active and growing community of developers, users, and supporters, who are all working together to build and promote the platform.

The Oasis Network also features a robust ecosystem of partners and collaborators, including major players in the blockchain and technology space. These partnerships not only serve to strengthen the network’s credibility but also provide oasis team valuable resources, expertise, and support to help drive the project forward.

The Oasis Foundation plays a critical role in fostering this community and ecosystem by providing resources, funding, and support for developers and projects built on the Oasis Network. By nurturing a strong community and ecosystem, the Oasis Network is better positioned for long-term growth and success.

Oasis Network’s Competitors and Potential Challenges

As with any blockchain project, the Oasis Network is not without its competitors and potential challenges. One of the main competitors of Oasis Network is Polkadot (DOT), which shares a similar architecture that allows for the connection of multiple blockchains within one ecosystem. However, Polkadot has a larger market cap and a more established ecosystem, which could make it more difficult for Oasis Network to gain traction and compete.

Another potential challenge for Oasis Network is the regulatory environment surrounding data privacy and DeFi. As governments and regulators around the world become more focused on data privacy and security, there is a risk that they could introduce regulations that could impact the development and adoption of platforms like Oasis Network.

Additionally, the success of Oasis Network will also depend on its ability to attract developers and build a strong ecosystem of applications and users. While the platform has several high-profile partnerships, including Binance and Meta (formerly Facebook), it will need to continue to attract and support developers to build innovative applications and drive adoption.

Oasis Network’s Role in Decentralized Finance (DeFi)

The Oasis Network aims to play a significant role in the rapidly expanding DeFi ecosystem by offering a platform that prioritizes privacy and security. By utilizing confidential smart contracts, Oasis Network can facilitate the development of DeFi applications that require secure data handling and sharing. This includes applications like lending platforms, decentralized exchanges, and asset management tools, which can all benefit from the privacy features offered by the Oasis Network.

As the DeFi market continues to grow and mature, the demand for platforms that can provide the necessary privacy and security features will only increase. Oasis Network’s unique architecture positions it as a strong contender in this space, offering users and developers a robust platform for building the next generation of DeFi applications.

Lastly, at Messari Crypto show that Oasis Network is one of the most commonly held assets by crypto funds. Besides Bitcoin, Ethereum, and Polkadot, Oasis Network is right up there with big institutional players and backers behind them. The institutions have caught on, however, the retail investors haven’t caught onto it yet and is still a hidden gem. This is a great sign that paints the picture of Oasis Network being in its infancy and is a great hold for the long term. We can’t give an Oasis Network price prediction, however, we believe the token will soar a lot higher than $0.06, it’s current market price. The Oasis Network is a privacy-focused, scalable blockchain platform designed to enable a responsible data economy as well as decentralized finance (DeFi) applications. It is built on a unique architecture that separates the consensus layer from the execution layer, which is how the data remains confidential and private. The Oasis team is trying to build the future of open finance with data ownership, high throughput, and low transaction fees in mind, while also pushing out Oasis Labs built API that makes it easy for developers to add data privacy to their application. As always please do your own research, this Oasis Network Analysis does not constitute as financial or investment advice.

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