What is Oasis Network? Highlights of Oasis Network
Does DeFi on Oasis Network really have potential? What stage is the Oasis Network ecosystem at? Learn about this fledgling ecosystem here!
During the time when all ecosystems were booming and growing, there was one ecosystem that received a lot of attention and attention from users and developers, and that was the Oasis Network ecosystem.
To help you keep up with what is happening in the Oasis Network ecosystem, idolmeta.net will go with you in turn through the arrays in this ecosystem, to get the most overview of the system, from there looking for investment opportunities.
Does DeFi on Oasis Network really have potential? And what stage is DeFi on Oasis Network at? We will find out through the next article!
Oasis Network Overview
Oasis Network project overview
What is Oasis Network?
Oasis Network is a Layer 1 decentralized blockchain with a Proof-of-Stake consensus mechanism that provides security, privacy, and high scalability, allowing users to own and manage their data concurrently exploit the potential benefits of data.
Highlights of Oasis Network
Oasis Network has 3 outstanding features:
- DeFi with high privacy & high scalability: Oasis allows private smart contracts to work, high scalability and data encryption capabilities help open up new applications such as private lending, loans private mortgage, private AMM,…
- Data encryption and transformation: The Tokenized Data model helps users earn rewards by staking their data into the app. This application then analyzes the data or controls the most sensitive information by service, opening up a responsible data economy.
- ParaTime Scaling Architecture: Supports fast transaction speeds, high scalability, and high workloads by separating execution from consensus. Thus, the Consensus Layer of this blockchain is scalable and completely decentralized.
Outstanding parameters of the Oasis Network platform:
- Algorithm: Proof-of-Stake;
- Number of active validators (October 12, 2021): 110;
- Inactive validator (October 12, 2021): 49;
- Total number of delegators (October 12, 2021): 3,340;
- Average transactions per day (October 12, 2021): 4,500;
- Total accounts: 3,483 wallets;
- And total active accounts in the last 7 days (October 12, 2021): 901 wallets;
- Total transactions (October 12, 2021): 4,254,880;
- Marketcap: 290M;
- Status: Mainnet Beta from 10/2020.
History, current situation and roadmap
Oasis Network launched Public Testnet in November 2019, allowing node to run but only with some limited features, namely no staking and delegate functions.
In January 2020, the project ran the Incentivized Testnet – a contest to reward hackers who attack the network, to ensure the security of the network when the mainnet officially takes place.
Staking and block signing functionality was also first launched and tested on the network.
On October 1, 2020, the mainnet Beta of the network was officially launched as scheduled with most of the functions already included in the network, including EVM Compatible.
In the near future, there will be another phase of network upgrade called Mainnet Production. This is the official launch of the Oasis Network.
In addition, smart contract in Solidity programming language will be able to run on EVM-compatible ParaTime in Q4/2021, smart contract in WebAssembly programming language is already working on Cipher ParaTime testnet.
And intends to go to mainnet in Q4 of 2021, to bring a large number of developers using these two programming languages to the platform.
Investor and Team
Oasis Network has a backer with many big VCs in the market: a16z, Pantera, Polychain Capital,…
These are the VCs that have invested in many layer 1 blockchains and have an extremely high success rate of investment, huge ROI in the past time.
With their rich experience in investing in Layer 1 projects, the above VCs will certainly contribute significantly to supporting the development of the Oasis ecosystem.
The project construction team includes many members from major corporations in the world, with extensive experience in the fields of technology, finance and security.
Oasis Network puzzle pieces
Oasis Network is still in Beta Mainnet stage, so the ecosystem does not have too many pieces.
Mainly the pieces in the ecosystem are in the infrastructure segment, or the projects that launch a partnership with the ecosystem, but no DeFi puzzle pieces have been mainneted on the system yet.
Oasis Network Ecosystem
The fact that the ecosystem is in the construction phase, and there are not many users yet is also reflected in the number of transactions per day of the system.
With only 4,500 transactions per day and 900 active wallets in the last 7 days, the Oasis ecosystem is still very young and is in the construction phase to enter mainnet production, and run Dapps on the ecosystem. .
So, instead of analyzing the Oasis ecosystem by arrays, I will analyze according to the Grants and Accelerators that the project creates to attract developers to the platform and the infrastructure pieces of the ecosystem.
The Oasis ecosystem has the following infrastructure pieces to support the development of Dapps:
Regarding the Block Explorer and Validator Leaderboards array:
- Oasisscan (built by bitcat);
- Oasis Monitor (built by Everstake);
- Hubble Oasis (built by Figment Networks);
- Oasis.Fish (built by Stakefish);
- Oasis Smartstake (built by Smartstake).
Regarding Wallets, GUIs, and Staking Dashboards:
- Anthem (built by Chorus One);
- RockX Wallet.
Regarding the infrastructure array that supports running node:
- Ankr one-touch deploy (built by Ankr);
- Bison Trails-managed Validator (built by Bison Trails – a product of Coinbase).
About the developer support tool array (only the version on Github):
- Rosetta Gateway (built by Oasis Protocol Foundation);
- Oasis Metadata Registry (built by Oasis Protocol Foundation);
- Oasis API Server (built by Simply VC);
- RPC Proxy Oasis (built by Figment);
- Oasis Indexer (built by Figment);
- Oasis Explorer (built by Everstake).
Regarding the Oracle segment, the ecosystem has cooperated with Chainlink to bring data off-chain to on-chain. This is the first oracle and is also the only oracle to cooperate with Oasis.
In general, many infrastructure pieces have been built and put into operation, to facilitate the development of Dapps and Mainnet Production to be launched in the near future.
Grants & DevAccelerator
The Oasis ecosystem has organized many programs to stimulate the development of the ecosystem and attract developers, including the Grant program and the Dev Accelerator program.
The results of the above programs are some notable projects as follows (mainly real-life applications):
- Alethea.ai: The marketplace for artificial intelligence-driven network content development;
- Bankex: A tool to support sending electronic assets on social networks;
- Castalise: Predictive analytics protects privacy on pharmaceutical data;
- Dead Man’s Switch: A decentralized, anti-censorship tool for whistleblowers;
- Luther.ai: Building artificial intelligence to store, consolidate, recall and enhance human memory;
- Ruyi Health: An intuitive and intelligent health management solution for stroke patients, health solution providers and their insurers;
- SafeRate: Automatically reduces mortgage payments when neighborhood home values fall to avoid the risk of liquidation for borrowers;
In general, the projects are mainly in the field of real-life applications such as disease insurance, health care, pharmaceuticals, artificial intelligence, and projects in the traditional financial system.
Therefore, the opportunity to find projects with tokens to invest and make profits is not available at the moment.
Oasis ecosystem assessment
The Oasis ecosystem is currently at the stage of infrastructure development, as well as leaning towards life applications.
Therefore, in such a young and incomplete ecosystem, we need to monitor more in the near future to identify investment opportunities.
Perhaps the next time, the expected event will be Mainnet Production and the completion of the infrastructure on the Oasis Network, thereby gradually bringing the pieces of DeFi, NFT, or other decentralized applications to the top Ecosystem.
What do you think about this young Oasis ecosystem? Which ecosystem overview do you want to learn about next? Please comment below the article to let idolmeta.net know!