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Oasis Network

The Oasis Protocol blockchain is a decentralized, trust-minimized, and privacy-preserving platform built on a new Web3 infrastructure.

With unique features such as privacy by design, self-custody of assets, and execution of smart contracts on an efficient and secure layer two solution, the Oasis Protocol enables developers to use blockchain technology without sacrificing user privacy or security. It lays a blueprint for the development of Decentralized Web 3 applications that enable users to own their data and keep their financial activity safe from prying eyes.

Check out the best dApps that support Oasis Protocol below.

No. of Nodes:
120
Type of chain:
Layer 1
Consensus mechanism:

Proof-of-stake

Pros

  • Scalable and Fast
  • Secure
  • Community Governance
  • Open Source
  • Decentralized Computing Infrastructure
  • Interoperability Protocols

Cons

  • Lack of Adoption
  • Network Features
  • Limited Use Cases

Features

  • Open DPoS Consensus
  • Confidential Computing
  • Resource Modeling
  • Governance Modeling
  • Toolkit Library

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Popular dApps on

Oasis Network

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Blockchain Cuties

Blockchain Cuties
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Cutest collectable game with adventures on Ethe
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User reviews of

Oasis Network

What is Oasis Network? 

The Oasis Network is a blockchain network designed to be a privacy-preserving platform for open finance.

It uses a proof of stake consensus mechanism, and its throughput can reach up to 1,000 transactions per second. This makes it an ideal solution for a decentralized data and finance economy that doesn’t require users’ private information to be exposed.

With privacy-first architecture, Oasis Network offers developers the opportunity to create applications through an underlying decentralized network that supports secret contracts, allows secure communication between different nodes, and provides confidential data storage on the network layer.

Oasis Network provides numerous features for developers such as simple integration of smart contracts, library-based programming language for application development, and single-sign-on authentication using asymmetric cryptography.

Oasis Network also provides identity-proofing features such as robust identity vetting that is based on privacy-preserving design principles such as zero knowledge proofs.  

How does Oasis Protocol work? 

The Oasis Network offers a secure, highly scalable consensus mechanism powered by validator nodes. Each of these nodes stake their native coins, ROSE, in order to gain the privilege to validate blocks and earn rewards.

This consensus layer is the backbone of the Oasis Network – it's where validators are elected and then validated blocks are updated on the blockchain.

In addition to its consensus layer, Oasis Network employs a ParaTime layer which provides parallelized runtime environments that allow for computations in shared states. This makes transactions faster and more efficient while also creating scalability.

Along with its secure consensus protocol and smart contract capabilities, the ParaTime layer allows for decentralized applications built on the Oasis Network to scale more quickly than ever before possible.

Oasis Network Pros

  1. Scalable and Fast: The protocol is designed to support high-transaction speed and scalability, as well as incentive layers for users.
  2. Secure: Consensus algorithms ensure decentralization of agreement processes and trustless data storage on the chain.
  3. Community Governance: All protocols are controlled by stakeholders in the network for transparent and efficient decision making about network resources.
  4. Open Source: Being open source, all parts of the system are accessible to anyone wanting to build or contribute to it.
  5. Decentralized Computing Infrastructure: Distributed computing power across a variety of nodes helps maintain security while optimizing cost efficiency and energy consumption.
  6. Interoperability Protocols: Oasis Protocol enables different blockchains, networks, technologies and organizations to interact in a more secure, decentralized manner without sacrificing speed or performance.

Oasis Network Cons

  1. Lack of Adoption: The Oasis protocol and its associated tokens do not yet have large-scale adoption, which may limit the potential use and value of the protocol.
  2. Network Features: The current version of the Oasis protocol does not yet have many of the features common in other blockchain networks, such as a wider range of smart contract languages or decentralized applications (dApps).
  3. Limited Use Cases: So far, most use cases for the Oasis protocol involve asset management and tokenization for enterprise digital securities offerings, though development teams hope to expand this into more areas in the future.
  4. Regulations: It is unclear how many regulations will need to be met for certain types of applications built on top of the Oasis protocol, which could limit what developers can build and make some projects unfeasible.

Oasis Network Features

  1. Open DPoS Consensus: Oasis has adopted the open DPoS consensus algorithm, which lowers energy and hardware requirements of full-node hosting or staking.
  2. Confidential Computing: Oasis uses the secure enclave Substrate-based RustRuntime library to encrypt transactions on blockchain.
  3. Resource Modeling: Special data structures and algorithms are implemented to prevent users from consuming too much resources when creating smart contracts.
  4. Governance Modeling: The protocol defines a set of permisable behaviors for validators, allowing them to learn and adapt in different conditions over time.
  5. Toolkit Library: A comprehensive set of libraries that allows developers to effortlessly deploy decentralized applications on the Oasis Network.

Does Oasis Protocol have its own token? 

Yes. 

The Oasis Protocol has a token called ROSE.  

 What are ROSE Tokens? 

ROSE tokens are the native token of Oasis Network and help power its decentralized platform.

ROSE tokens allow users to pay transaction fees, delegated on the consensus layer, and stake with validator nodes. The token distribution for ROSE is as depicted in a pie chart - with 10 billion total supply being capped.

The primary purpose of the ROSE token is to encourage network usage and provide economic incentives for node operators on the Oasis Network.

Network operators receive reward tokens when they make successful transactions or produce blocks on the blockchain. This incentivization helps secure a healthy operating environment and increases robustness within the network itself.

Beyond this, ROSE tokens can also be used internally within services built atop Oasis, such as trading cryptocurrencies and accessing censorship-resistant storage solutions.

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