Oasis Network is a project born as a first layer solution, and it is not a fork, the network was created from scratch. It is intended to provide a solution to the scalability and security problems of second-generation networks such as Ethereum. The network stands out for offering superior speed and low fees compared to large competing blockchains and everything seems to indicate that it will be the Blockchain used as a payment method in the metaverse of the company Meta, formerly known as Facebook. The network is capable of servicing Smart Contracts, DeFi products. As a new feature, the platform includes Tokenized Data. This tool offers the possibility of monetizing non-relevant user information for commercial purposes, while at the same time ensuring the anonymity of the user and their most sensitive information.
Advantages and Disadvantages of Oasis Network (ROSE)
.As mentioned above, the network is intended to offer increased speed and security. To this end, the structure of the Oasis Network is composed of two layers in order to streamline processes and operations.
On the one hand we have theConsensus Layer, the layer in which blockchains are generated and validated. Its agility is possible thanks in part to the use of the Sharding method (action of dividing the blockchain into smaller chains). The verification protocol used by the layer is the Proof-of Stake (PoS) so the verifying nodes and their delegators receive rewards for keeping the network active.
On the other hand we have the Execution Layer and as the name suggests this is where the Samrt Contracts, DeFi and Dapps are executed. This layer is composed of blockchain subnetworks called ParaTimes. Each of these ParaTimes can be run independently, this allows each to be tailored to the application it will host. In this way, some sacrifice security for speed and vice versa. As a result we obtain a versatile layer that adapts to the needs of each application.
Advantages of Oasis Network (ROSE):
- Scalability,thanks to the differentiation between Consensus Layer and Execution Layer (composed of ParaTimes).
- Oasis Network (ROSE).
- High privacy and security, despite the monetization of private data by the users the network maintains .
- Implements Smart Contracts Confidential, where only the parties involved know the data collected in them.
- Smart Contracts, where only the parties involved know the data collected in them.
- High speed, currently the network is capable of performing 1,000 transactions per second.
- Versatility in the Dapps, each ParaTime can satisfy the specific needs of each application.
Disadvantages Oasis Network (ROSE):
- Little known marketing. The project does not have as large an advertising campaign as its direct competitors.
- Oasis Network (ROSE).
- Small community, compared to other competing networks.
- High competition, the proliferation of more and more blockchains may put the furo of blockchains in jeopardy.