While blockchain technology is believed to possess the potential to transform many industries with the finance ecosystem on top of the list, it still has a long way to go. The decentralization and transparency of blockchain technology are celebrated throughout. However, as the world moves towards digitization, concerns about privacy have become rampant. Scandals like that of Cambridge Analytica have further worsened the fears related to data privacy. Oasis is the first privacy-enabled blockchain but that is not all to it. The platform has so much more to offer which sets it apart from the crowd all the while presenting solutions to the problems that the blockchain realm is facing. So, let’s get into what the network is all about!
What is Oasis Network?
The concept behind Oasis Network is the creation of a responsible data ecosystem. It achieves the goal through its privacy-enabled blockchain as well as Tokenized Data. Tokenized Data gives users greater control over their data while enabling them to monetize their data. Moreover, it can also pave the road towards privacy-enabled blockchain applications and many other use cases. The blockchain is highly scalable with top-notch security features positioning it towards revolutionizing the open finance system.
The Oasis Network’s architecture can be divided into two components. The first is the consensus layer which is a high throughput, secure and scalable chain with the Proof-of-Stake mechanism. The second is known as ParaTime layer – which is the unique offering of the Oasis Network. Multiple parallel runtimes of which each represents a replicated computing environment runs on the ParaTime layer. The execution and consensus occur separately on ParaTimes which ensures the network does not suffer from congestion. By having completely decentralized ParaTimes, anyone can create and customize their own on the Oasis Network.
ROSE future outlook
The native token of Oasis Network surged upwards during August and established a new all-time high at $0.3581. Currently, the token has been suffering from bearish momentum. At the time of writing, the ROSE token stands at a price level of $0.1836. The price has fallen by 6% in the past twenty-four hours. However, the future projections for cryptocurrency are bullish.
According to the estimates of Wallet Investor, Oasis Network’s native token is expected to be standing at a price level of $0.281 in a year’s time. The price of the cryptocurrency is expected to reach $0.669 in five years’ time. Digital Coin Price projects similar price predictions. The year-ending price is estimated at $0.308 while the price by 2026 is projected at $0.704.
