Seeking to provide a fast and secure environment for dApps and the data economy, Oasis Network has already deserved a lot of attention from the community. The latest news caused a new price rise. Read our ROSE Price Prediction to see what is going to happen with the asset.
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Oasis Network Fundamental Analysis
The Oasis Network is a layer-1 blockchain focused on privacy and created with the goal to boost the fair finance and responsible data economy establishment. It is an Ethereum compatible blockchain network that brings privacy into the data and gives companies full control over their data while also making it easier to share the information in a deliberate way.
The Oasis Network separates consensus and execution into two layers — the Consensus Layer and The Para Time layer that allows to improve the scalability and increase the versatility. Thus, Para Time processes the transactions in parallel protecting the slowing down of fast and easy transactions by more complex workloads.
The project is also the first blockchain to support confidential smart contracts. Oasis has its own ETH/WASI Runtime — an open-source confidential Para Time that keeps data private during the processing by using secure enclaves.
Oasis’ cutting-edge scalable features help to fix the issues with the high transaction fees and slow throughput. As it’s able to offer a platform for scalable and private DeFi projects. Many experts expect the network to become a leading platform for the next generation DeFi markets and use cases. The mainnet of the network was launched in November 2020 with more than 70 independent validators.
Oasis community is backed by a great core development team consisting of specialists with a lot of experience in blockchain and DeFi. Moreover, it grew a community of over a thousand node validators, developers, enterprise partners, and ambassadors and also over 10 000 active members across numerous social channels.
On 11 January the first decentralized exchange on the Oasis Network YuzuSwap was released and experienced a massive uptake from the community demonstrating a high interest in decentralized finance protocols.
ROSE is the native capped supply utility and settlement token of the Oasis blockchain. It’s used for staking and delegating on the Consensus Layer and is also required for smart contract operations with fees in Para Time.
Oasis Network Live Price Chart
After the summer downtrend that affected the whole crypto market, ROSE token started to recover in price in mid-July. On 7 September it had already skyrocketed from $0.12 to $0.28. It succeeded in sustaining the price and then it started to decline slowly.
After 19 September the asset was going through a period of market correction with its price bouncing between $0.14 and $0.21. From the end of October, the token started to go up again till it skyrocketed on 18 November to $0.30 lost $0.04, and reached a new milestone of $0.41 on November 19. One more series of corrections, and by the end of December the coin was traded for $0.44. In the last 2 weeks, the asset was following bullish trends and gained 43% of its value, while the overall growth in the last month is 67%.
The launch of YuzuSwap was followed by the Binance announcement of investing $200 million in the project’s developer fund. The news caused the token price to go up gaining over 14% in 24 h. This made the investors turn their heads towards the asset and pay closer attention to the ROSE price chart.
Most of the analysts believe that the token price will grow, predicting it to up to $0.75 in a year period. Token recently hit an all-time high of $0.53 and sustained at $0.49.