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What is Oasis Network?

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Sep 13, 2022
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3 min read

This blog post will cover:

  • What is Oasis Network?
  • Where did Oasis Network come from?
  • What are the advantages of Oasis Network?
  • What are the disadvantages of Oasis Network?
  • How to buy Oasis Network on SimpleSwap?

What is Oasis Network?

Oasis Network is a blockchain project that offers a solution to many of the problems that DeFi faces (high fees, low scalability and throughput, and lack of privacy). Let's look into the details. The Oasis Network platform was created for cloud computing. It ensures their safety, efficiency and confidentiality.
The project is based on its own Oasis blockchain. It is a highly scalable, low-fee network that expands app and DeFi use cases by offering support for data privacy. That is, DeFi services will be able to find applications in the corporate sector and consortiums. After all, non-disclosure and safety of information play an important role in the latter. Thus, any company or user can place insurance data, bank statements or even medical data on the Oasis blockchain without fear of violating their confidentiality or leakage. At the moment, there are such companies as CryptoSafe, Nebula Genomics and a leading medical company that is included in the Fortune 500 list.
The Oasis Network platform also follows an interesting direction - data tokenization. This means vendors can be rewarded for posting encrypted information to applications that want to parse it.
The ROSE is a utility token. It is used for staking and delegation to nodes, to process various operations on the platform, run smart contracts in ParaTimes, etc. By ensuring the privacy of the Oasis Network platform, users can receive its tokens as a reward.

Where did Oasis Network come from?

In 2018, the company began developing its own Oasis blockchain. However, its launch took place only in 2020. In the same year, the company held a closed sale of ROSE tokens. It was possible to raise $46 million from such large venture investors as Binance, Andreessen Horowitz, Accel.
The programmers of the team who work on the project used to work in large corporations: Amazon, Google, Apple. They graduated from prestigious universities like Harvard, Berkeley, Stanford. Therefore, their experience will allow the project to quickly expand and launch more dApps.

What are the advantages of Oasis Network?

  • High scalability
    The Oasis Network platform has a scalability of about 1000 TPS and the ability to execute parallel transactions.
  • Proof-of-Stake algorithm
    It is simple to connect the node, and the entry barrier for stakers is minimal.
  • Data tokenization
    This expands the ways in which DeFi can be used, and creates a new ecosystem of dApps that supports information privacy.
  • Compatibility with Ethereum Virtual Machine and Solidity
    The majority of smart contracts are written in the Solidity programming language, and compatibility with it and the Ethereum Virtual Machine simplifies the creation of new dApps. Also, applications previously created on the Ethereum network can be transferred to the new blockchain.

What are the disadvantages of Oasis Network?

  • No mining option.

How to buy Oasis Network on SimpleSwap?

If you want to easily purchase ROSE tokens you can do it on SimpleSwap, just follow a few steps:

  • Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
  • Select ROSE in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. ROSE will be sent to this address. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.
    Our congratulations, now you own ROSE tokens!

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