What is the Oasis Protocol and how it makes the Internet better
Blockchain developers have the same goal as the Internet creators: to eliminate borders between users and make digital money accessible to everyone. Some aspects of the Internet were not yet implemented before the creation of blockchain: users can establish communication, but they do not have sufficient control over digital data and cannot become completely autonomous.
Oasis Protocol has developed a solution that enables building a decentralized network where users can protect their personal data while maintaining a connection to the Internet.
What is the Oasis Protocol?
The Oasis blockchain developers seek to eliminate the lack of control and user autonomy by creating a decentralized platform focused on user privacy. Oasis Protocol is based on confidential smart contracts that make transaction processing anonymous for crypto holders.
This opens up new possibilities for using DeFi. Oasis offers a scalable platform with low-cost transactions and high throughput, solving the most pressing issues of current DeFi protocols. The platform can process up to 1000 transactions per second, which is not possible for any other DeFi platform that exists today.
The company has created Oasis Protocol Foundation, which aims to support developing projects that seek to implement the independent and confidential Internet idea. Oasis encourages any approach chosen to achieve the goal: from the development of simple applications to larger projects focused on blockchain network development.
Oasis Protocol works with large companies to integrate their solutions and create a new and improved Internet with complete user control over their data. For example, Oasis teamed up with Binance — the largest crypto exchange in the world — to launch the CryptoSafe project — a decentralized network of confidential smart contracts aimed at combating crypto scams.
On the 18th of November, Oasis Protocol completed testing and launched the main network, which enabled the blockchain deployment and all the functions of confidential data management. At the moment the network is stable.
Oasis Protocol Tokenomics
The Oasis platform is creating a new paradigm for tokenized data that combines privacy with blockchain technology. They created a new type of digital asset that can be exchanged or used to pay fees. Oasis blockchain data providers can create their own tokenized data and earn rewards by staking their data in apps. This allows users to verify and monitor the use of their data by other applications.
Oasis Monitor blockchain explorer
Everstake supports Oasis Protocol from the very beginning and is part of its DevAccelerator program, aimed at cooperation on the blockchain network improvement. The Everstake team developed Oasis Monitor, a block explorer for the Oasis Protocol network — https://oasismonitor.com/
Users can utilize it to track statistics for the Oasis network, accounts, and validators. On the Oasis Monitor website, users can find information about:
- Blocks;
- Accounts and validators;
- Number of signatures;
- Hash and many other things.
You can find more information about the Oasis Monitor blockchain Explorer in this article.
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