Oasis is the leading privacy-enabled and scalable layer-1 blockchain network. It combines high throughput and low gas fees with secure architecture to provide a next-generation foundation for Web3 and will power DeFi, GameFi, NFTs, Metaverse, Data tokenization and Data DAOs.Oasis propels web3 forward, scaling it and evolving it from infancy to maturity. Supported by top industry backers, Oasis recently announced the $235 million Ecosystem Fund to support projects to build on the network. Oasis Labs, the ecosystem technical contributor, has partnered with the likes of Meta, BMW Group Genetica and others, to build platforms and products that further individual privacy protection, data governance, and responsible data use.
The Oasis Network is a blockchain platform that emphasizes privacy, security, and scalability. As with any blockchain, users are advised to keep their private keys secure in order to protect their funds and data on the network.
Hardware wallets are considered to be one of the most secure ways to store and manage cryptocurrency private keys. Unfortunately, at the time of my knowledge cutoff in September 2021, there were no hardware wallets specifically designed for the Oasis Network. However, Oasis users could still store their private keys on compatible hardware wallets that support other cryptocurrencies with similar encryption standards such as Bitcoin or Ethereum.
Some popular hardware wallets that support multiple cryptocurrencies, including Oasis, are Ledger Nano S, Ledger Nano X, Trezor One, and Trezor Model T. Users can store Oasis Network’s native token, ROSE, on these wallets alongside other cryptocurrencies.
It is important to note that users should always verify that the hardware wallet they choose is compatible with the Oasis Network, and that they follow all security protocols and guidelines provided by the wallet manufacturer to ensure the safe storage of their private keys.
The best option for storing any cryptocurrency would be to use a hardware wallet. These are pieces of hardware that store the private key to your coins offline.
Today, there are two leading hardware manufacturers to choose from – Ledger and TREZOR. Both companies have different models of hardware wallets that will get the job done.
If you want deeper insights on specific models, you can read my Ledger Nano X review or my TREZOR Model T review.
The Oasis Network is blockchain platform that supports the storage and transfer of various cryptocurrencies, including its native token ROSE. Software wallets are one way to store and manage cryptocurrency assets on the Oasis Network.
There are several software wallets that support the Oasis Network, including:
Exodus Wallet: Exodus is a desktop wallet that supports various cryptocurrencies, including ROSE. It has a user-friendly interface and offers a range of security features.
Trust Wallet: Trust Wallet is a mobile wallet that supports ROSE and other cryptocurrencies. It is available for both iOS and Android devices and is known for its easy-to-use interface.
Klever Wallet: Klever is another mobile wallet that supports ROSE and other cryptocurrencies. It offers features such as staking and in-app trading.
Atomic Wallet: Atomic Wallet is a multi-currency desktop wallet that supports ROSE and other cryptocurrencies. It offers features such as staking and exchange integration.
Math Wallet: Math Wallet is a multi-platform wallet that supports ROSE and other cryptocurrencies. It offers features such as staking, exchange integration, and DApp support.
It is important to note that software wallets are connected to the internet and can be vulnerable to hacking attacks if not properly secured. Therefore, it is recommended to follow best security practices such as using strong passwords, enabling two-factor authentication, and keeping the wallet software up-to-date. Additionally, users should only download wallet software from trusted sources to avoid downloading any malicious software.
Hardware wallets cost money, so if you’re not sure how serious you are about cryptocurrencies and just want to get a taste of what they feel like, perhaps you would be better off starting with a software wallet.
A software wallet is a free program that lets you store your coins on your computer or mobile phone.
The easiest Oasis Network software wallets to get started with are undoubtedly Exodus, AtomicWallet and Guarda . All wallets are very intuitive. Exodus, Atomic Wallet and Guarda is available on desktop for Windows, Mac and Linux, as well as on mobile for both iOS and Android. If you want more information you can read my Exodus, AtomicWallet and Guarda review.
Once you decide on an exchange, open an account and buy your Oasis Network. Make sure to withdraw the Oasis Network from the exchange to your personal wallet.
Never leave coins on an exchange, as you risk losing them all if that exchange gets hacked or shuts down (which has happened in the past).
Technology
Team
The Oasis Team is made up of top talent, from around the world, with backgrounds from Apple, Google, Amazon, Goldman Sachs, UC Berkeley, Carnegie Mellon, Stanford, Harvard, and more. The majority of the core engineering team are PHD level educated and all committed to growing and expanding the impact of the Oasis Network. The project has strong roots in academia; Dawn Song, a professor at the University of California, Berkeley, and one of the world’s foremost experts in computer security and trustworthy artificial intelligence is the Founder of Oasis Labs, which is an active member of the Oasis Ecosystem and one of the early contributors to the Oasis technology. Moreover, the project is backed by top VC firms and investors, including, Andreessen Horowitz, Accel, Binance Labs, Polychain, Pantera, and many others.
Scalability:
The Oasis Network is multi-layered, making it highly flexible, scalable, and future-proof. The modular architecture separates consensus and smart contract execution into different layers allowing developers to deploy low-cost privacy-focused dApps.
The ParaTime Layer, a layer which allows for dynamic compute environments to be built, is where all smart contract execution happens, enabling incredible scalability for the network. ParaTimes can also evolve independently while maintaining consensus as security, scalability, or privacy technologies advance into the future.
Privacy-Enabled:
The Oasis Network is the world’s leading scalable, privacy-enabled blockchain with its ParaTime layer enabling customizable confidentiality for developers. ParaTimes on the Oasis Network then leverage its privacy-preserving technology, enabling users to have complete control over the confidentiality of their information.
With the Cipher ParaTime, developers can experience a proper Web3 environment that is privacy-first and geared towards confidentiality. Cipher supports the building of complex confidential smart contracts, opening up a world of opportunities for users who want to be in charge of their data. Sapphire is another privacy-enabled ParaTime that is the first and only confidential EVM compatible. Solidity developers now can easily switch to Web3 in an environment that is familiar with tools that are well known, and built Web3 dApps like never before.
Oasis is working to establish itself as the foundation for the Web3 world. The core value proposition of privacy gives way to other tenants required in the next iteration of the internet. Oasis supports critical pillars like decentralized identity, decentralized society, a responsible data economy and data sovereignty through its range of privacy-preserving technologies and robust blockchain platform.
The current supply of Oasis Network ROSE is 1.5 billion tokens, with a total supply of 10 billion ROSE. The token distribution is as follows:
2.3 billion tokens will be automatically paid out as staking rewards to stakers and delegators for securing the network over ten years. ROSE is used for transaction fees, staking and delegation at the Consensus Layer. By staking ROSE, users can secure the Oasis blockchain and earn up to 20% APY rewards.
The consensus layer is a proof-of-stake (Pos)-secured blockchain with a decentralized set of validator nodes operated by independent nodes. The separation of execution from consensus is secured using fraud proofs. On the Oasis Network’s Cipher ParaTime, nodes are required to use a type of secure computing technology called a TEE (Trusted Execution Environment), which acts as a hypothetical black box for smart contract execution in a confidential ParaTime. Encrypted data goes into the black box along with the smart contract, data is decrypted, processed by the smart contract and then encrypted before it is sent out of the TEE. This process ensures that data remains confidential and is never leaked to the node operator or application developer.