Introduction to The Oasis Network

Whenever we mention privacy on the Web3, the Oasis Network is usually mentioned as well..... so what is the Oasis Network?

What is Oasis Network?

Oasis Network is a layer-1 blockchain network with privacy and scalability its main uniqueness. Founded by Dawn Song, a professor in the Department of Electrical Engineering and Computer Science at the University of California at Berkeley, Oasis offers a proof-of-stake (PoS) consensus mechanisms, decentralization and Ethereum compatibility.

The platform encourages its users by:

• being privacy oriented

• providing EVM infrastructure

• having high throughput

• providing scalability

• having low gas fees and

• providing high security

 Among the dApps built on Oasis, MetaMirror, Multichain and Covalent are few of the major ones.

And among the networks biggest backers, Binance, a16z, Polychain Capital and Neo-Global Capital are worth mentioning.

The Oasis Network Token (ROSE)

The Oasis Network has its own native token called ROSE. ROSE token has a fixed supply of 10 billion but only 1.5 billion tokens are currently in circulation. The token can be used to:

• pay transaction fees

• staking and 

• delegating

The token has an all-time high price of $0.597347 registered in 2022 and an all-time low price of $0.03200566 registered in 2020.

Currently ROSE has a market cap of $232,084,260 and ranked around 135th as compared with other tokens.

So what are your thoughts on Oasis Network...... Let me know in the comment section.

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Disclaimer

I am not a financial advisor. The information found here are for educational purposes and cite my personal opinion.