Oasis Network and ROSE Token: A Comprehensive Guide to Privacy-Enabled Blockchain for Web3

Oasis: Everything You Need to Know

ROSE is the native token for the Oasis Network, a privacy-enabled blockchain platform that aims to be the next-generation foundation for Web3. The Oasis Network combines high throughput and low gas fees with secure architecture to enable the creation of private smart contracts, data tokenization, and data DAOs. ROSE is used to pay for transaction fees and for staking to validate the Oasis Network’s proof-of-stake blockchain.

How does ROSE work?

ROSE works by powering the Oasis Network, which is composed of two layers: the Consensus Layer and the ParaTime Layer. The Consensus Layer is a proof-of-stake blockchain that secures the network and provides a common interface for ParaTimes. ParaTimes are parallel execution environments that run smart contracts and can be customized for different use cases. ParaTimes can also leverage privacy-preserving technologies such as Trusted Execution Environments (TEEs) to ensure data confidentiality and integrity.

ROSE holders can stake their tokens to become validators or delegators on the Consensus Layer, earning rewards for securing the network and participating in governance. Validators run nodes that produce blocks and validate transactions, while delegators delegate their tokens to validators and share their rewards and risks. Staking ROSE also helps users access premium ParaTimes that offer enhanced features and services.

ROSE holders can also use their tokens to pay for transaction fees on the network, which are determined by the complexity and demand of the ParaTime. Transaction fees are paid to the validators and ParaTime operators who provide the computational resources for executing transactions. Transaction fees also help regulate the network usage and prevent spamming.

Who is the team behind ROSE?

ROSE is developed by Oasis Protocol Foundation, a non-profit organization that oversees the development and governance of the Oasis Network. The foundation is supported by Oasis Labs, a technical contributor that provides research, engineering, and ecosystem development for the network. Oasis Labs was founded by Dawn Song, a professor of computer science at UC Berkeley and a MacArthur Fellow. The Oasis team consists of experts in cryptography, distributed systems, privacy, and blockchain from leading institutions such as MIT, Stanford, Harvard, Cornell, Google, Amazon, IBM, Intel, Uber, and more.

The Oasis Network is also backed by top industry investors such as Andreessen Horowitz, Accel, Binance Labs, Electric Capital, Pantera Capital, Polychain Capital, Coinbase Ventures, Fenbushi Capital, and more. The Oasis Network has also partnered with leading companies and organizations such as Meta (formerly Facebook), BMW Group Genetica, Google Cloud Platform, Chainlink, Balancer Labs, Sia Foundation, API3 Foundation, and more.

What are the use cases for ROSE?

ROSE enables a wide range of use cases for Web3 that require privacy, scalability, and interoperability. Some of the use cases include:

DeFi: ROSE can power decentralized finance applications that offer lending, borrowing, trading, insurance, and more with privacy protection and low fees.

GameFi: ROSE can enable gaming platforms that offer immersive experiences with NFTs, metaverse assets, in-game economies, and more with privacy preservation and scalability.

Data Tokenization: ROSE can facilitate data tokenization platforms that allow users to create data-backed tokens that represent ownership or access rights to data sets with privacy protection and data governance.

Data DAOs: ROSE can support data DAOs that enable users to create decentralized autonomous organizations that manage data sets with privacy protection and collective decision making.

And more: ROSE can also enable other use cases such as healthcare data sharing, identity management, social media platforms, content creation platforms, and more with privacy protection and scalability.

Conclusion

ROSE is a cryptocurrency that powers the Oasis Network, a privacy-enabled and scalable blockchain platform that aims to be the next-generation foundation for Web3. ROSE is used to pay for transaction fees and for staking to validate the network. ROSE enables a wide range of use cases that require privacy protection and scalability such as DeFi, GameFi, data tokenization, data DAOs, and more. ROSE is developed by Oasis Protocol Foundation with support from Oasis Labs and backed by top industry investors and partners.