Oasis Network, sometimes called ROSE token, is a blockchain platform focused on privacy and scalability.
Powered by its native ROSE token, Oasis aims to enable confidential smart contracts and decentralized applications. Let’s take a deeper look at what makes Oasis Network tick.
What is The Purpose of Oasis Network (ROSE)?
The ROSE token fuels all transactions and activity on the Oasis Network. It’s used to pay transaction fees, stake nodes, vote on network upgrades, and more. Like gas on Ethereum, ROSE keeps the network running smoothly.
Oasis also wants ROSE to power a new “data economy” concept. By enabling private data usage tracking, individuals could potentially earn ROSE by sharing select data with certain applications in a privacy-preserving way.
This gives people more control over how their digital information is used.
How Oasis Network (ROSE) Works?
Under the hood, Oasis Network employs some clever technical tricks. It separates the blockchain consensus process from smart contract execution using a novel “ParaTime” framework.
This modular approach allows for high scalability and custom computing environments tailored for different apps. Transactions and data are hidden using zero-knowledge proofs and multiparty computation.
The result is privacy inherent to the platform rather than bolted on later. Features like optional anonymity help ensure individual rights and freedoms remain protected in a digital world.
Does Oasis Network (ROSE) Have a Future?
With its unique focus on both scalability and privacy out of the gate, Oasis Network seems poised to capture growing demand in the coming years. Major blockchains are still struggling to tack privacy features on after the fact in an effective way.
The financial opportunities around big data monetization and consumer privacy laws also give Oasis an opening.
If they can successfully launch initiatives to properly incentivize and reward individuals for private, consent-based data sharing as envisioned, adoption should snowball rapidly. Overall the future looks bright for Oasis Network and ROSE.
When Oasis Network (ROSE) Launched?
Oasis Network’s mainnet went live in October 2020, following earlier public testnets. At launch, a total of 10 billion ROSE tokens were created according to a standard ERC-20 distribution model.
Over 90% were held by the Oasis Foundation for operations, grants and long-term community incentivization programs.
Early backers received sizable pre-sale allocations including Binance, a16z, Polychain and others. Liquidity has grown steadily on major exchanges since, making ROSE increasingly investable and accessible to a wide audience.
Is Oasis Network (ROSE) a Scam?
Absolutely not. Oasis Network is built by respected researchers and applied cryptographers from top schools like Stanford.
They released working code from the start and have made steady progress outlined in public roadmaps. Node operation is also permissionless and decentralized.
Any token sale involves risks but there are no obvious red flags to suggest a scam. Ongoing developer activity, funded partnerships and proposals show the team aggressively building out their vision.
As with any crypto investment do your own research, but overall Oasis appears very legitimate.
Is It Safe to Invest in Oasis Network (ROSE)?
Like all cryptocurrencies, investing comes with risk. But as long as you only put in what you can afford to lose and do proper due diligence, ROSE seems reasonably safe compared to others.
The tech tracks Oasis Network’s serious commitments to privacy, security and decentralization. Also, large institutions openly backing the project signals broader validity over time.
Diversifying a crypto portfolio with ROSE alongside blue chips like Bitcoin and Ethereum can provide upside if the project succeeds while mitigating downside volatility.
Is Oasis Network (ROSE) Worth It? ROSE Price 2024
Only time will tell if ROSE proves a worthwhile investment, but there are positive signs. During the 2021 bull run it peaked over $0.55, demonstrating buyers’ enthusiasm.
If Oasis Network gains meaningful adoption for private DeFi and novel data applications by 2024 as planned, ROSE could certainly hit new highs. Even without another mega-bull market, incremental appreciation up to $1-2 long term isn’t out of the question.
Overall the risk-to-reward profile looks favorable for patient fans of the project’s vision of privacy-preserving blockchain applications.
Where to Buy Oasis Network (ROSE)?
The easiest way is on major centralized exchanges like:
You can typically fund your account with fiat or stablecoins then trade into ROSE directly with minimal hassle. Just be wary of high fees on volatile coins.
Alternatively, decentralized options on protocols like Uniswap provide support without needing to verify your identity. But these often have much lower liquidity. As always, double-check the details of any platform before transferring funds.
And remember – everyone can stay up to speed with the latest crypto news very quickly thanks to EXEcrypto!
How to Sell Oasis Network (ROSE)?
Selling ROSE follows essentially the same process as purchasing but in reverse. Head to the exchange you bought on, go to the ROSE/BTC, ETH or USDC pair, and place a “Sell” order. Funds will be returned to your exchange wallet minus any transaction costs.
From there you can either cash out entirely back to fiat, or swap the sale proceeds into another cryptocurrency to reinvest elsewhere.
Just keep in mind taxes if you realize capital gains over a certain holding period depending on your local laws. Exchanges also typically require identity verification for larger fiat offramps.
How to Stake Oasis Network (ROSE)?
Oasis Network allows staking ROSE tokens to earn additional rewards and help secure the blockchain. This can be done through supported standalone staking interfaces like Frontier or directly via a full archival node.
Staking generally requires a minimum amount of around 500 ROSE locked up for 30 days at a time.
Annual percentage yields can vary from 6-10% depending on total staking participation and network activity levels. Rewards are automatically accumulated over time in your wallet.
So staking provides a relatively passive way to generate more ROSE without actively trading – helpful for long term holders. Just be sure to only stake from a secure private key.
How to Mine Oasis Network (ROSE)?
You cannot directly mine ROSE tokens as the network uses a delegated proof-of-stake model rather than proof-of-work.
This means block production duties are assigned in a randomized fashion to elected staking nodes, with rewards consisting solely of block transaction fees rather than new token generation.
As such, regular users have no option to mine through specialized hardware. Their involvement requires either staking tokens as described earlier, running a validator node if they meet the requirements, or trading on exchanges.
While mining terminology is commonly used generically in crypto, ROSE is not mined in the traditional computational sense.