Oasis Network

Oasis Network’s ROSE has risen by 22%

ROSE, the native coin of the Oasis Network, has risen by 22% in the last 24 hours.  The crypto market more broadly has also been making some strong recoveries over the past few days, but some of ROSE’s gains can be attributed to an announcement of a partnership with Meta, in which they agreed to collaborate over the design of privacy-related AI systems.

Never chase a pump

Investors and speculators ought to be aware of the mantra that the best time to accumulate is “when there is blood in the streets”, and not when prices are pumping.  For crypto investors dealing with high degrees of volatility, this can be a difficult reality to contend with. After all, one can never know whether or not they are buying the bottom, and if they aren’t then they will most certainly either have bought too early or too late (for maximum returns).

Competition from other blockchains

As a layer one blockchain entering into the fray to try and dethrone Ethereum (or at least steal some significant market share), Oasis has a lot of competition.

Nevertheless, there are some huge advantages for the Oasis Network compared to other networks that are already far more established. The first of which is the way in which the blockchain is constructed.  Gavin Wood, co-founder of Ethereum, author of Solidity and co-founder of Polkadot, has made the case several times that development towards ETH 2.0 has taken far too long.  Not only this, but he agrees with Emin Gun Sirer (professor of distributed systems and founder of Avalanche) that even when ETH 2.0 is fully developed there will be many shortcomings, not least of which is scaling.

The Oasis Network uses a far more scalable blockchain architecture.  Not only this, but the EVM compatibility afforded by Emerald ParaTime means that it is fully backwards compatible with Ethereum and other EVM blockchains.  Emerald ParaTime means that Oasis can become interoperable with a whole variety of dApps in DeFi without compromising functionality on consensus layer.

The ideological evolution of blockchains

In the early 2010s, blockchains (or “timechain”, as Satoshi first described it) had decentralisation as one of the absolute core principles, in so far as it was possible to achieve. The cypher punk movement was particularly concerned with state power and government overreach, and Bitcoin thus flourished as a means to circumvent centralised control of money.

This was a very ideologically-driven movement with strong links to Austrian economics, property rights and libertarianism.

However, the world of blockchains has shifted from some of these “purer” ideals, as the technological innovations has meant that there may be more possibilities to explore, even if it means compromising on some of these aims.

For example, whilst the principles behind Bitcoin may have been transparency, auditability, decentralisation and immutability, a lot of the demand from investors in 2022 is geared towards blockchains that have more functionality. In the case of Oasis, this shift has manifested itself by focusing on offering far more functionality than other layer ones such as Ethereum, in exchange for a highly centralised ownership distribution.

ROSE token distribution

Nowadays, decentralisation is not so often the main focus.  This is reflected in the investment world, where VCs and and entrepreneurs are far more interested in building new economies and new ecosystems rather than submitting themselves to the unchanging nature of Bitcoin.

Higher concentration of ownership often allows for projects to develop much more quickly, and to therefore offer more services to the end user, and increase user experience as much as possible. The purpose of many new blockchains now isn’t to be decentralised or to replace money at all – and this is reflected in the changing regulatory landscape, and the current debate over commodities versus securities.

Nevertheless, Oasis Network’s ROSE does represent an opportunity to capitalise on adoption of more consumer-driven chains.  Certainly, there are things being done on Oasis, such as their focus on privacy-centric smart contracts, that are extremely important and could be extremely valuable.

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