What is Oasis Network (ROSE)?

The Oasis Network (ROSE) is a privacy-focused blockchain platform that seeks to make it possible to construct applications and share data in a way that is safe, scalable, and decentralised. The network is made to address existing blockchain platforms' privacy issues and limits, making it appropriate for a range of use cases, including DeFi, healthcare, and e-commerce.

The History of Oasis Network

A group of seasoned blockchain researchers and engineers, including the co-founder of Augur, an open-source decentralised prediction market platform, launched Oasis Network in 2018. Following a successful funding round in which $45 million was secured from numerous venture capital firms and investors, the network was officially launched in November 2020.

The Use Case of Oasis Network

The use case for Oasis Network is to give developers a safe and private platform to share data and create applications, allowing them to create privacy-focused decentralised applications (dApps) that people and organisations can use without risking their security or privacy. The network combines a special mix of consensus algorithms and privacy technologies, like secure enclaves and zero-knowledge proofs, to guarantee that data is kept private and transactions remain quick and effective.

Oasis Network's DeFi platform intends to facilitate secure and transparent transactions without disclosing private financial information to outside parties. This is one of the platform's key use cases. The network also seeks to assist the healthcare sector by offering a private and secure platform for the exchange of medical records and the facilitation of medical research. E-commerce, supply chain management, and digital identity verification are additional potential use cases.