Oasis Network (ROSE) Crypto: Overview, price and what you should know

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Cryptocurrencies have entered everyday life and have been on everyone’s conscience in recent years, thanks to their rapid adoption, increased institutional (and celebrity) support and constant sensational headlines.

But some are more ahead of the news cycle. In fact, while Bitcoin and Ether have become mainstream cryptocurrencies and mainstream concepts – closely followed by several altcoins, such as Dogecoin and Shiba Inu – there are still some lesser-known cryptocurrencies that may also be worth a look.

ROSE, for example, is one of them. While both Bitcoin and Ether are on their own networks – Bitcoin and Ethereum – ROSE is on the Oasis Network, as Bybit Learn notes is one of the projects called an “Ethereum killer.”

What is the Oasis Network?

Oasis Blockchain platforms is a team one proof-of-stake smart contract platform with the goal of offering expansion opportunities and privacy, according to its white paper.

The Oasis Foundation says it’s different since it enables fast transaction speeds and the creation of private smart contracts.

says Oasis Designed for the next generation of blockchain, it is “the first privacy-enabled blockchain platform built to scale for open finance, a responsible data economy and Web3.”

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“Combined with its high throughput and secure architecture, Oasis Network will operate private, scalable DeFi, revolutionize open finance and expand it beyond traders and early users to a mass market,” according to the Oasis Foundation’s website. “Its unique privacy features will not only redefine DeFi and Web3, but also create a new type of digital asset called tokenized data. This will allow users to take control of the data they generate and earn rewards for investing them with applications, and creating the first responsible computer economy ever. “

In terms of technology, the Oasis Network has two separate layers for consensus and execution: Consensus Layer and ParaTime Layer, which the Oasis Foundation says enable it to provide increased versatility and better scalability.

What is ROSE?

ROSE token is a resident of the Oasis Network, and its specificity include that it has a limited offer – in fact, it is limited to 10 billion tokens. The token can be used for staking and delegation and for transaction fees, according to the Oasis Foundation.

As of July 12, there are 5.03 billion ROSE tokens in circulation – 50% of the total limited offer. The token ranks as No. 109 in terms of market value, according to CoinMarketCap, and represents 0.03% in terms of crypto market dominance.

In addition, Oasis Network has set aside approximately 2.3 billion tokens, which will be automatically distributed on the chain as effort rewards to secure the network over time.

ROSE is at $ 0.047 as of July 12, down 29.2% last year and down 7.8% the last seven days, according to CoinGecko.

Is ROSE a good investment?

Although it is difficult to predict cryptocurrencies due to their inherent volatility and the general market cycles, it is worth noting a few factors. First, at $ 0.047, it has a lot of room to grow. Second, while still in its infancy, the Oasis Foundation is developing several other features, which could bring more attention to the crypto, and increase the price. Another feature is that just like Bitcoin, it is limited, and therefore creates a scarcity aspect.

On the other hand, just like the crypto market as a whole in recent months, ROSE has fallen significantly from its all-time high of $ 0.597 on January 15 this year – a whopping 92% decline, according to CoinGecko. Its lowest all-time was $ 0.032, which was November 26, 2020.

The Oasis Foundation notes that the team consists of top talent from companies including Amazon, Apple, Goldman Sachs and Google, as well as from institutions such as Carnegie Mellon, Harvard, Stanford and the University of California, Berkeley. The foundation also notes that all of its core engineering team members have received education at Ph.D. level.

All in all, the combination of the regular updates Oasis provides, the support it has received from well-known institutional investors, and a strong team seem to “bode well for the future of ROSE tokens as an investment,” according to an analysis by Bybit Learn.

Does ROSE have a future?

Although it is difficult to predict which crypto projects will succeed in the long run, ROSE has several attributes in its favor. As previously mentioned, Oasis has major supporters and is involved in several new projects around DeFi and Web3 – including non-fungible tokens and the meta-version – which can help increase the price.

In January and following Binance Labs’ contribution, the Oasis Ecosystem Fund grew to $ 200 million in size.

The fund’s goal is to back the next generation of Oasis applications, including in the metaverse rooms, DeFi, privacy applications, NFTs, data tokenization and data management. In addition, since Oasis Network considers itself scalable, it does well suitable for DeFi applications “due to its immediate finality, 99% lower gas charges versus Ethereum, high throughput” and other factors, according to the Oasis Foundation.

In May, the Oasis Foundation announced that the fund had reached a total of $ 235 million. Oasis Ecosystem Fund’s partners include Dragonfly Capital, Electric Capital and Pantera Capital, among others.

If you want to invest in ROSE, just as is the case with all other cryptocurrencies, keep in mind that they are all very volatile. In addition, it is strongly recommended to always do your own research to understand if a project is valid, who is behind it and who supports it. Finally, make sure you can withstand wild trips as cryptocurrencies tend to go up and down wildly.

The data is accurate as of July 12, 2022, and is subject to change.