Rose is perhaps the new crown jewel in cryptocurrencies since the beginning of 2021. Like the already BTC or Ethereum consolidations, Rose (Oasis Network) is also a blockchain that will have the same global reach as Bitcoin given its partnership with the Meta group (Facebook, Instagram and Whatsapp) and although it is not confirmed ROSE would be used by Meta to make payments via WhatsApp or Facebook, or even create a Metaverse, but as I reiterate, this is only an assumption given its society.

What is Oasis Network?

Basically ROSE is a new Blockchain of smart contracts such as the well-known Solana or Polkadot and that is distinguished from the others by 3 fundamental aspects such as its obsession with information privacy, data tokenization and creation of parallel layers of smart contracts, that is to say, parallel Blockchains called ParaTime that we will see more in depth below.

How does $ ROSE stand out from other Blockchains?

Security and privacy

It is defined as the next generation of Blockchain not by chance and it is the first blockchain enabled for privacy, this is achieved by avoiding the monitoring of transactions within the network itself through encryption.

It is also scalable, has a large number of transactions per second today +1000 and very low commissions.

It is the first to enable data tokenization, that is, in case a user or entity within the network wants to share confidential data such as the social security number or bank statements, no one will be able to read them within the network but it will allow others companies or entities can compare this data with others.

So that we send our data encrypted and the oasis smart contract will compare it with others, this can be useful, for example, to check if a user is of legal age through the smart contract, returning the result with a "Yes" or "No ”Based on their date of birth but without indicating their specific data (age).

ParaTimes Technology

The technology behind Oasis, like Polkadot, has its parachains, called ParaTimes, which divide the Blockchain's ledger in such a way that the transactions of each one are separated and grouped according to their complexity.

They are also decentralized so developers can create applications such as Binance Cryptosafe.

Associations

Another point to highlight are the backers or investors of the oasis network, on their official page we can find associations and interactions with other companies, including giants of the cryptocurrency industry already known as Chainlink, Balancer, Binance and BMW group the German vehicle manufacturer.

We meet the team behind ROSE

Regarding his team, if we go to the part dedicated to it on the official website, they indicate that it is made up of great talents belonging to leading companies such as Apple, Google, Amazon, Goldman Sache and that they come from universities such as Harvard among others.

Practical summary

Its blockchain infrastructure is made up of two components, the consensus layer which is a scalable and secure delegated proof-of-stake consensus algorithm executed by a decentralized set of validators. And, the ParaTime layer, an environment that hosts many parallel runtimes (ParaTimes ç), each of which represents a replicated computing environment with a shared state.

Using Trusted Execution Environments (TEEs), Oasis Network has enabled various functionalities.

Query & Data Control: allows companies to monitor and control access to their data and create detailed restrictions on SQL (Structured Query Language) queries and analysis.

Data Collaboration - Enables companies to share sensitive data with other organizations while retaining and adjusting data access and analysis permissions.

User privacy as a service: allows companies to present how user data is transferred and used.

Parcel SDK - Allows developers to access the Oasis Network to create tools and applications with ease.