In the midst of a bear market, a crypto winter in which ROSE has been the protagonist due to its outstanding behavior in recent weeks, this note has been prepared through the review and study of the network that represents this cryptocurrency, Oasis Network.
Oasis Network a third generation blockchain, It is also known as the OASIS network that aims to be a decentralized network with active privacy for DEFIs and an economy through data tokenization, a secure form of responsible control of our data, an issue that will play a role in the future. very relevant.
It is a project developed by Oasis Labs, its CEO and co-founder, Dawn Song, focused her idea or fundamental pillar to develop it in a new paradigm in which “true privacy” of data could exist for a secure system, and where people could control said data. data in a responsible manner, having with it the option of extracting a monetary value in exchange for it.
As they expose, today data security is not the best in the world and Oasis Labs takes advantage of blockchain technology and cryptography to improve it, they believe that data should be seen as property and that it can drive a new global economy of a way the world has never seen; We can see this vision reflected in the statements of its CEO when in an interview with the New York Times he described the vision of Oasis as follows “As we talk about data like new oil, it’s very important to develop technologies that allow that information to be used in a way that preserves privacy.”.
the founder
Dawn Song is CEO and founder of Oasis Labs and a professor in the Department of Electrical Engineering and Computer Science at the University of California at Berkeley. Dawn has spent a lot of time researching and developing security and privacy technologies, specifically in the areas of software, networking, distributed systems, applied cryptography, blockchain, smart contracts, and machine learning.
The Oasis Network
The oasis network uses the consensus protocol Proof of Stake (PoS) or Proof of Participationwhich works through the rewards staking system, transferring your coins to a node that validates transactions on the network and guarantees its security. In the specific case of this network, there are two layers, the ‘consensus layer’, which refers to the layer that we have just explained, and the ‘ParaTime’ layer, which is the development layer and the one that would be in charge of hosting many parallel runtimes each representing a replicated application and data computing environment with shared state. Through this mechanism, what is intended is that the complex workloads processed in a ‘Paratime’ do not slow down the transactions of another, since they are carried out independently while maintaining the same central accounting book in the consensus layer.
Data tokenization: data, a valuable asset
Oasis Network shares an idea that is the combination of confidential computing and blockchain through its technology, allows it to develop a new paradigm known as the ‘Data Tokenization’, knowing that blockchain is an integral and auditable technology, confidential computing guarantees that data remains private and cannot be reused without user approval, it is this set of policies that make users’ personal information a digital asset that can be consumed with certain conditions in exchange for a fee, in this way Oasis Network data providers could earn rewards for providing their data with applications that use them to carry out market analysis, social studies, interaction, network behavior, etc.c.
According to them, this creates awareness in users about their privacy, and responsibility for the data with which they would receive or at least that would be the ideaa monetary reward. It is noteworthy that this modality encourages ethical behavior on the part of application developers, considering that in many of the technology companies, they have obtained a large part of their income with our data.
privacy comes first
Apparently, according to what was investigated, in Oasis privacy would come first, and this would turn out to be a motto that is taken very seriously since the Paratimes system that in its programming allows the development and running of private or confidential smart contracts, and where the involved nodes are given the characteristic of using a “secure” computing technology known as TEE (Trusted Execution Environment) or Trusted Execution Environment.and, a medium or computing environment within the network that functions as a black box where confidential smart contracts are executeds along with the information encrypted in the Paratimes.
This information encrypted inside the black box is decrypted to be processed with the smart contract and then encrypted with the same contract to be sent outside TEE, this is what guarantees that the data remains confidential and is never leaked to the wrong person. when not wanted.
ROSE the cryptocurrency
Finally, to close the explanation around Oasis, it is time to talk about the network’s native cryptocurrency: ROSE, and which at the time of writing this note has a value of USD 0.1049 according to data from Coinmarketcap.
Rose is used to perform all transactions, network delegations, and awarding of rewards at the consensus layer. has a limited supply set at 10 billion coins has a circulation of 5.03 billion coins after two releasesand the interesting thing about this cryptocurrency is the origin of its name, because ROSE is a symbol of “secrecy”. Since ancient Greece, it is said, Aphrodite used Roses as a gift or as a reward for keeping the secrets of the gods.
The Rose symbol for secrecy is also used in Tudor England, where state secrets are decided in a room with roses hanging from the ceiling.
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