Oasis Network (ROSE) is a scalable, privacy-enabled blockchain network that strives to provide a foundation for the next generation of the internet, often referred to as Web3. It is designed to combine high throughput and low transaction costs with a secure architecture. The network aims to support a variety of applications, including decentralized finance (DeFi), gaming finance (GameFi), non-fungible tokens (NFTs), metaverse, data tokenization, and data decentralized autonomous organizations (DAOs). Oasis Network's unique feature is its ability to separate consensus and execution into two layers, which aims to enhance scalability and versatility. The network's native token, ROSE, is used for transaction fees, staking, and delegation at the Consensus Layer.

Oasis Network operates on a proof-of-stake (PoS) consensus mechanism, which is secured by a decentralized set of validator nodes operated by independent nodes. The network separates execution from consensus, which is secured using fraud proofs. On the Oasis Network’s Cipher ParaTime, nodes use a type of secure computing technology called a Trusted Execution Environment (TEE). This technology acts as a secure area for smart contract execution in a confidential ParaTime. Encrypted data is processed by the smart contract and then encrypted again before it is sent out of the TEE, ensuring that data remains confidential and is never leaked to the node operator or application developer.

Oasis Network is designed to support a wide range of applications. It aims to power DeFi, GameFi, NFTs, metaverse, data tokenization, and data DAOs. The network's privacy features can enable decentralized exchanges to prevent front-running transactions, NFT users to protect their assets privately, and potentially unlock trillions in credit and lending markets from traditional finance. Furthermore, Oasis Network's ParaTime Layer allows anyone to develop and build their own ParaTime, each of which can be developed in isolation to meet the needs of a specific application, such as confidential compute, open or closed committees, and more.

Oasis Network is supported by industry backers and has announced a $235 million Ecosystem Fund to support projects building on the network. Oasis Labs, the ecosystem technical contributor, partners with various entities to build platforms and products that aim to further individual privacy protection, data governance, and responsible data use. The Oasis team is composed of talent from around the world, with backgrounds from tech companies and universities. The project has roots in academia, with Dawn Song, a professor at the University of California, Berkeley, and an expert in computer security and trustworthy artificial intelligence, being the Founder of Oasis Labs.

Oasis Network employs a Byzantine Fault Tolerance (BFT) consensus protocol known as Tendermint. This consensus mechanism is part of the network's Consensus Layer, which is designed around the principle of modularity. This allows for the consensus backend to be theoretically interchangeable, accommodating advancements in consensus mechanisms. The Consensus Layer accepts state updates from the network's ParaTimes (parallel runtimes), verifies them, and writes them into the next block of the Oasis blockchain. This separation of consensus and computation aims to address scalability concerns by reducing the replication factor for smart contract execution while maintaining a focus on security. It's important to note that the Oasis Network strives to provide instant finality, indicating that it aims for a state where once a block is finalized, it cannot be reverted.

Oasis Network seeks to address privacy concerns in the Web3 space through its distinctive approach to data confidentiality. It has developed the Oasis Privacy Layer (OPL), a tool that allows developers to integrate privacy and confidential compute into their blockchain applications. The OPL acts as a bridge between any host network and the Oasis Sapphire network, providing access to Sapphire's confidentiality features. This means that existing decentralized applications (dApps) on any Ethereum Virtual Machine (EVM) blockchain have the potential to incorporate privacy features. Oasis Network's Sapphire runtime enables the creation of confidential smart contracts. These contracts can be fully confidential, fully public, or anywhere in between, offering developers and users a high degree of flexibility and customization. This approach to privacy and data confidentiality is designed with the intention of improving the security of their on-chain activities.

The ROSE token is a component of the Oasis Network ecosystem, fulfilling various functions. It is utilized for transaction fees, staking, and delegation at the consensus layer. Staking is a process where ROSE token holders can engage in the network's activities. They can "stake" their tokens on the network, contributing to its ongoing activity. The ROSE token also plays a role in maintaining the network's resilience. By staking their tokens, users contribute to the network's resilience. The ROSE token is also used for transaction fees, and it aids validators in processing transactions and maintaining the network's performance.

Oasis Network addresses scalability challenges through its unique two-layer architecture, which separates consensus and execution into the Consensus Layer and the ParaTime Layer. This separation allows multiple ParaTimes to process transactions in parallel, ensuring that complex workloads processed on one ParaTime won't slow down faster, simpler transactions on another. This architecture allows Oasis Network to operate with a smaller replication factor for the same level of security. Oasis Network has developed three ParaTimes, each with a unique design to address specific scalability issues. The Emerald ParaTime is designed to enhance transaction throughput and reduce fees. The Cipher ParaTime is designed to provide privacy-preserving smart contracts with high throughput, instant finality, and low fees. The Sapphire ParaTime is designed for confidential computation of smart contracts written in Solidity or other EVM-compatible languages. These solutions are intended to enhance the scalability and efficiency of Oasis Network for blockchain applications.

The ParaTimes architecture on the Oasis Network is a crucial element that enables scalability, customizability, and flexibility. It separates computation from consensus, allowing multiple compute environments, known as ParaTimes, to exist in parallel. Each ParaTime can write its own transactions to the Consensus Layer, which is the foundational layer of the Oasis Network. This architecture allows anyone to build a ParaTime, and they can be customized to fit each developer's unique needs. For instance, there are ParaTimes that support EVM-compatible smart contracts, and others that provide a confidential smart contract execution environment. This architecture intends to facilitate efficient transaction processing, scalability, confidentiality, data ownership, and adaptability to future developments. It is designed to align with the evolving requirements of the Web3 environment, where blockchain technology is utilized.

Data tokenization on the Oasis Network involves replacing sensitive data with a randomly generated data string known as a token. This process, which is crucial for data security, ensures that tokens do not have any inherent meaning and cannot be reverse-engineered to reveal the original data they represent. Only the system that created the token can obtain the original data it represents through a process known as de-tokenization. This approach to data security aims to allow users to control their data and for companies to use data without increasing the risk of data breaches. It also strives to help organizations remain compliant with various data compliance laws and regulations. The implications for users are considerable, including tighter controls and security over access to one's data, more granular privacy protections, and increased sharing and re-use options. In a world where one's data is more private and secure, yet remains accessible and shareable, users may gain programmatic data rights, including the potential to assign non-financial value to flows of data.

Oasis Network is working on a variety of initiatives and projects. One of these projects is the Oasis SDK, a software development kit that aims to standardize ParaTimes development. This kit is designed to simplify the creation of new ParaTimes and facilitate communication between them. Another project that is being developed is a new ParaTime by the Oasis Protocol Foundation. This project aims to provide developers with access to confidential smart contracts and tools such as a bridge with Ethereum. Oasis Network also supports Inter-Blockchain Communication (IBC), which strives to enable easy communication with other networks using the protocol. Oasis Network features a suite of Oasis-first wallets that are web-based and can be accessed as a chrome extension. The network is also working on the launch of Parcel as a ParaTime, with the intention of integrating the 20+ projects developing with the API fully onto the Oasis Network. Oasis Network is also working on initiatives such as a grants program and a decentralized exchange (DEX) with a focus on privacy.

Validators play a crucial role in the Oasis Network by maintaining the network's operational integrity. They are responsible for proposing and validating new blocks in the blockchain, ensuring that all transactions are accurate and legitimate. Validators are selected based on their participation in the network, which is represented by the amount of ROSE tokens they allocate. This process, known as Proof of Stake (PoS), encourages validators to act honestly as they have a vested interest in the network's operational success. To become a validator, individuals must meet certain hardware requirements, install specific software, and allocate a minimum amount of ROSE tokens. The Oasis Network uses a consensus mechanism that allows the participants to "prove they’ve allocated their crypto" to the network and receive non-monetary acknowledgments for their participation. Validators are chosen to create a new block based on various factors, including the extent of their participation in the network.