Oasis Network (ROSE) is a decentralized finance (DEFI) system launched in 2020 and the system’s cryptocurrency is ROSE. It is a privacy-focused, open-code and scalable blockchain project that has created a data economy. With the Oasis Network, the aim is to bring together open finance and confidential transaction data in decentralized financial systems. Oasis Network (ROSE) consists of two main layers, Consensus and ParaTime. These two layers allow for different uses of the system. Information about What is Oasis Network (ROSE) and what network does it use, is in rest of the article.
What is Oasis Network (ROSE) and what network does it use?
Oasis Network (ROSE) conducts collaborations with many important crypto currency, blockchain and fintech companies. There are many applications and validators on the network where global participation is very high. The Oasis Network system aims to innovate and solve issues such as high fees and data security, which are the problems of decentralized finance systems. Information about Ethereum, you can browse here.
Oasis Network conducts collaborations with many important cryptocurrency, blockchain and fintech companies. There are many applications and validators on the network where global participation is very high. The Oasis Network system aims to innovate and solve issues such as high fees and data security, which are the problems of decentralized finance systems.
Although Oasis Network is a system based on ERC-20, which is an Ethereum network, it works as a more economical and faster system than Ethereum. Oasis Network (ROSE) also supports all decentralized applications (DApps) found on the Ethereum network.
What is Rose? Oasis Network and Privacy!
The most important element of Oasis Network system is privacy. There is a special privacy protocol in which the transactions on the network are encrypted. This privacy is provided by this privacy support in ParaTime, one of the network layers. It is ensured that the applications created in this layer benefit from all the advantages of blockchain technology. Developers who want to take advantage of blockchain technology with this privacy can apply from the Oasis Network official site.
ROSE is the cryptocurrency released to be used for all operations of the Oasis Network network. This name and symbol were chosen because ROSE, that is, the rose is used as a symbol of secrecy. In addition, the fees of smart contracts used to develop in the ParaTime layer in the Oasis Network system are paid.
For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency