Oasis Network (ROSE): Pioneer of Privacy and Scalability in Web3

Bittime - Oasis Network (ROSE) is an innovative blockchain platform designed to address two key challenges in the Web3 world: data privacy and scalability. 

This article will discuss the history of the Oasis Network, how it works, its main functions, and the current price of the ROSE token.

History of Oasis Network

Oasis Network was founded in 2018 by a team of experienced cryptography experts, software engineers and entrepreneurs. 

Founded with the vision of creating a secure and scalable blockchain platform for sensitive data, Oasis Network is quickly gaining traction with companies and organizations looking to leverage the power of Web3 without compromising data privacy.

How Does Oasis Network (ROSE) Work?

Oasis Network solves privacy and scalability problems by using a unique architecture consisting of two layers:

• Consensus Layer (Consensus Layer): This layer is responsible for network security and uses an energy-efficient Byzantine Fault Tolerance (BFT) consensus algorithm. This layer uses the ROSE token as a governance and staking token.

• Trusted Computing Layer (Parachain Layer): This layer consists of parachains which are specialized blockchains that can be configured for specific computing needs. These parachains can be run in trusted enclaves, which are secure computing environments where data can be processed confidentially. This allows decentralized applications (dApps) to harness the power of blockchain without disclosing sensitive data.

Main Functions of Oasis Network (ROSE)

Oasis Network offers several key functions that make it stand out among other blockchain platforms:

• Data Privacy: Oasis Network enables users and dApps to control and protect their sensitive data. By using trusted enclaves, data can be processed and analyzed without ever leaving the secure environment.

• Scalability: Oasis Network's two-layer architecture allows for better scalability than traditional blockchains. Parachains can handle computing loads separately, which reduces congestion and increases network efficiency.

Token ROSE

ROSE is the native utility token of Oasis Network. ROSE is used for a variety of functions, including:

• Staking: ROSE holders can stake their tokens to secure the network and earn rewards.

• Governance: ROSE is used for voting on network governance proposals.

• Payment: ROSE can be used to pay transaction and service fees on the Oasis Network.

At the moment ROSE price is around $0.07. Crypto prices can fluctuate significantly, so it's important to do your own research before making any investments.

Conclusion

Oasis Network is a promising blockchain platform for the future of Web3. With a focus on data privacy and scalability, Oasis Network has the potential to power a wide range of decentralized applications and services. 

Although ROSE's current price is relatively low, its long-term prospects look attractive as demand for secure privacy and scalability solutions continues to rise.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn How to Buy Crypto on Bittime.

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.