Rose Crypto Oasis Network (ROSE) is a cryptocurrency, and has a Layer 1 decentralized blockchain network designed to be uniquely scalable, privacy-first, and versatile. Read on to learn all about the Rose Crypto project.
In this article, we will discuss:
What is Rose Crypto, Oasis Network (ROSE)
Rose Crypto, Oasis Network (ROSE) is a privacy-focused smart contract blockchain for open finance, built using the Cosmos SDK. The project was developed with a focus on applications and use cases that promote data privacy and user confidentiality. It aims to achieve this goal by separating its consensus layer from its contract execution layer, while providing an integrated interface connecting the two for privacy-preserving computing.
The consensus layer acts as a hub that uses a Proof of Participation (PoS) mechanism to secure the network and reach consensus on the validity of the transaction. The execution layer consists of several parallel execution times (called ParaTimes) for specialized computing needs, which each connect to the consensus layer.
How does Rose Crypto work?
Private and scalable DeFi
The Network is designed to support sensitive smart contracts, allowing you to maintain data privacy during processing. By providing end-to-end data confidentiality in the Blockchain, the Oasis Network unveils new and exciting use cases in DeFi. From unsecured loans to preventing front/back running, the Oasis Network can help expand DeFi beyond traders and early adopters into a mainstream market.
The network's next-generation scalable features can help unlock DeFi as it works today, correcting the high transaction rates and slow transfer speed that currently affect other Tier 1 networks. Oasis' unique combined ability to deliver Private, scalable DeFi should make it the leading platform to unlock the next generation of DeFi markets and use cases.
Tokenizing data
The Oasis Network (ROSE) has confidential computing and blockchain which enables a new paradigm called Tokenized Data. Blockchain allows the recording and enforcement of usage policies with high integrity and auditability. Confidential computing ensures that data remains private during computation and cannot be reused without permission. This data + policy capsule creates a new type of digital asset that can be consumed according to specific guidelines for a specific fee or exchange of value.
Data Tokenization can fuel the next generation of apps that prioritize privacy and unlock a new responsible data society. Data providers on the Oasis Network may put your tokenized data to use. They can earn rewards by putting their data into apps they want to analyze or control how their most sensitive information is consumed by the services they use.
Smart Contract Parallel Layers
The impressive scalability of the Oasis Network is achieved through a set of cutting-edge features that provide faster transaction speeds and higher throughput than other networks. The network's top-level performance is due in large part to the separation of compute and consensus operations in the Consensus Layer and the ParaTime Layer.
This separation allows multiple ParaTimes to process transactions in parallel, which means that complex workloads processed in one ParaTime will not slow down faster and simpler transactions in another. In addition, sophisticated network discrepancy detection makes Oasis more efficient than shredding and parachains – requiring a lower replication factor for the same level of security.
Oasis Network Wallet
It is a wallet application that needs to be installed on a smartphone. You can store ROSE tokens in Bitpie and Trustwallet apps.
Technology
- Scalable, Reliable and Versatile – The Oasis Network separates consensus and execution into two layers – the Consensus Layer and the ParaTime Layer – for better scalability and greater versatility.
- parallel workloads – The separation of consensus and execution allows multiple ParaTimes to process transactions in parallel, which means that complex workloads processed in one ParaTime will not slow down faster and simpler transactions in another.
- Confidential Smart Contracts – The first network to support sensitive smart contracts. The Oasis Eth / WASI Runtime is an open source example of a confidential ParaTime that uses secure enclaves to keep data private during processing.
- Efficient Design – The network's unique discrepancy detection system makes Oasis more efficient than shredding and parachains – requiring a lower replication factor for the same level of security.
Oasis Network (ROSE) Price Prediction for 2023
According to our crypto price prediction index, in 2023, the price of Oasis Network (PINK) can reach a maximum level of $1.209, with the average trading price of $0.899.
Having said that, before making any investments, do your research, investing in cryptocurrencies is highly risky and speculative, and this article is not a writer's recommendation to invest in cryptocurrencies.
Conclusion
The Oasis Network (ROSE) project was developed similarly to the Ethereum network. However, the cryptocurrency still needs to evolve its project to be able to climb the rankings and become
one of the best decentralized blockchain projects on the market.
