7 things you should know about Oasis. Overview
1. What is Oasis?
Oasis Network is a Layer 1 decentralized blockchain network built for open finance and a responsible data economy. Combined with its high throughput and secure architecture, the Oasis Network is able to power private, scalable DeFi, revolutionizing Open Finance and expanding it beyond traders and early adopters to a mass market.
Its unique privacy features can not only redefine DeFi, but also create a new type of digital asset called Tokenized Data that can enable users to take control of the data they generate and earn rewards for staking it with applications — creating the first ever responsible data economy
2. What are the main architectural components of Oasis?
Oasis has two main components, the consensus layer and the ParaTime layer.
- The consensus layer is a scalable, high-throughput, secure, proof-of-stake consensus run by a decentralized set of validator nodes.
- The ParaTime layer hosts many parallel runtimes (ParaTimes), each representing a replicated compute environment with shared state. This layer is fully decentralized, meaning that anyone can develop and build their own ParaTime. There are 3 ParaTimes built by the Oasis core team: Emerald ParaTime, the EVM Compatible ParaTime, Cipher ParaTime, the confidential smart contract ParaTime and Parcel ParaTime, the confidential data storage, governance, and compute ParaTime.
By separating ParaTimes from Consensus, multiple ParaTimes can process transactions in parallel. Thus, workload balancing is achieved and complex workloads processed on one ParaTime won’t slow down transactions on another.
3. What are the benefits of the Oasis Network?
Scalability
Since Oasis provides faster transaction speeds, higher throughput than other networks and security, it is perfect for DeFi applications. Oasis unlocks new use-cases in DeFi and helps to expand DeFi beyond traders and early adopters to a mainstream market.
Oasis in comparison with Ethereum, Avalanche and Polkadot. Source: docs.oasis.io/general/oasis-network/why-oasis
Privacy-First
Oasis was designed as the first confidential ParaTime with support for privacy-preserving smart contracts. In a confidential ParaTime, nodes are required to use a type of secure computing technology called a Trusted Execution Environment. Encrypted data goes into TEEs along with the smart contract, data is decrypted, processed by the smart contract, and then encrypted before it is sent out of the TEE.
Thereby, data is confidential, and never leaked to the node operator or application developer.
Versatility
Oasis is customizable and versatile. For instance, each ParaTime can be developed in isolation to meet the needs of a specific application, it can be permissioned or permissionless, etc. As for nodes, they can be required to have specific hardware.
Highly skilled team
According to the Oasis team, they have backgrounds from Apple, Google, Amazon, Stanford, Harvard, and more. Moreover, all the core engineering team are PHD level educated.
4. Who is behind the project?
As already mentioned, the Oasis team consists of experts with backgrounds from world-leading companies.
Dawn Song, Founder of Oasis
Dawn Song is a founder of Oasis Labs and Oasis Network, she is a professor in the Department of Electrical Engineering and Computer Science at University of California, Berkeley.
She has been recognized for contributions in computer security through numerous prestigious awards including the MacArthur Fellowship, the Guggenheim Fellowship, the Alfred P. Sloan Research Fellowship, the NSF CAREER Award etc.
Anne Fauvre, COO of Oasis Labs
Anne started her career in politics, working in the House for Congressman Adam Schiff, on campaigns (including Hillary Clinton’s first presidential run), and in foreign policy, working for Secretary of State Madeleine Albright. Then she worked as a product manager at Apple.
Jernej Kos, Director of Oasis Foundation
Jernej Kos has an extensive background in engineering, software development and open source for 20 years. Before becoming the director, Jernej served as a senior engineer at Oasis Labs. He is also a co-founder of Institute for Development of Advanced Applied Systems.
5. How has Oasis developed?
Oasis Network was launched by Oasis Labs. Both were founded in 2018 by Dawn Song. 2 years later mainnet went live. Another milestone was reached in 202, when the $200 million Oasis ecosystem fund was launched. In 2022 the team launched DeFi DEX and NFTs.
6. What is the $ROSE token?
ROSE is the native token of the Oasis Network. It is used for staking and delegating on the Oasis Consensus Layer and for smart contract operations.
The genesis supply of ROSE is 1.5 billion tokens, while the total cap is fixed at 10 billion tokens.
The token distributed in the following way:
source: docs.oasis.io/general/oasis-network/token-metrics-and-distribution/
7. Where can I keep track of Oasis updates?
Subscribe to Oasis official channels!
If you have further questions, drop us a message to support@citadel.one. You can also join our chat in telegram, there is an active discussion of all current updates, as well as round-the-clock support from our managers.
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The analytical dashboard provides relevant information on wallets’ balances and networks’ main metrics. In Citadel.one, we standardize the semantics, making interactions with the platform as easy as possible. The same goes for network metrics. By using universal terms, we are making it easier for users to understand and compare networks.
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