Oasis Network (ROSE): Is this crypto a good investment?

VSCryptocurrencies have entered everyday life and have been on everyone’s mind for the past few years, thanks to their rapid adoption, increased support from institutions (and celebrities), and headlines that constantly command attention.

But some are more at the forefront of the news cycle. Indeed, while Bitcoin and Ether have become mainstream cryptocurrencies and concepts — closely followed by several altcoins, such as Dogecoin and Shiba Inu — there are still lesser-known cryptos that might also be worth checking out.

ROSE, for example, is one of them. While Bitcoin and Ether are both on their own networks – Bitcoin and Ethereum – ROSE is on the Oasis network, which Bybit Learn notes is one of the projects to be dubbed an “Ethereum killer”.

What is the Oasis Network?

The Oasis blockchain platform is a layer-one proof-of-stake smart contract platform with the goals of offering scalability and privacy, according to its whitepaper.

The Oasis Foundation says it’s different because it enables fast transaction speeds and the creation of private smart contracts.

oasis says it is designed for the next generation of blockchain and is “the first privacy-enabled blockchain platform designed at scale for open finance, responsible data economy and Web3”.

“Combined with its high throughput and secure architecture, the Oasis network will power private and scalable DeFi, revolutionizing open finance and extending it beyond merchants and early adopters to a mass market,” according to the website. of the Oasis Foundation. “Its unique privacy features will not only redefine DeFi and Web3, but also create a new type of digital asset called tokenized data. This will allow users to take control of the data they generate and earn rewards for linking it to apps, creating the first-ever responsible data economy. »

Technologically, the Oasis Network has two distinct layers for consensus and execution: the Consensus Layer and the ParaTime Layer, which the Oasis Foundation says allow it to offer increased versatility and better scalability.

What is PINK?

The PINK token comes from the Oasis network, and its specificities include that it has a limited supply – indeed, it is capped at 10 billion tokens. The token can be used for staking and delegating and for transaction fees, according to the Oasis Foundation.

As of July 12, there were 5.03 billion ROSE tokens in circulation, or 50% of its total capped supply. The token ranks 109th by market capitalization, according to CoinMarketCap, and represents 0.03% in terms of crypto market dominance.

Additionally, the Oasis Network has set aside approximately 2.3 billion tokens, which will be automatically distributed on-chain as staking rewards to secure the network over time.

ROSE is at $0.047 as of July 12, down 29.2% over the past year and down 7.8% over the past seven days, according to CoinGecko.

Is ROSE a good investment?

While it is difficult to predict crypto prices due to their inherent volatility and overall market cycles, there are a few factors worth noting. First, at $0.047, it has plenty of room for growth. Secondly, while still in its infancy, the Oasis Foundation is developing several other features, which could bring more attention to the crypto, thereby boosting its price. Another feature is that just like Bitcoin, it is capped, creating an aspect of scarcity.

On the other hand, much like the entire crypto market over the past few months, ROSE has fallen significantly from its all-time high of $0.597 on Jan. 15 this year – a whopping 92% drop, according to CoinGecko. . Its all-time low was $0.032 on November 26, 2020.

The Oasis Foundation recalls that its team includes top talent from companies such as Amazon, Apple, Goldman Sachs and Google, as well as institutions such as Carnegie Mellon, Harvard, Stanford and the University of California at Berkeley. The foundation also notes that all members of its core engineering team have received doctoral training.

All in all, the combination of the regular updates provided by Oasis, the support it has received from well-known institutional investors and a strong team seems “bodes well for the future of ROSE tokens as a ‘investment’, according to an analysis by Read More.

Does ROSE have a future?

Although it is difficult to predict which crypto projects will succeed in the long term, ROSE has several attributes in its favor. As previously reported, Oasis has big-name backers and is involved in several new projects around DeFi and Web3 – including non-fungible tokens and the metaverse – which could help boost the price.

In January and following the contribution of Binance Labs, the Oasis Ecosystem Fund reached $200 million.

The objective of the fund is to back the next generation Oasis apps, including in metaverse spaces, DeFi, privacy apps, NFT, data tokenization and data governance. Moreover, as the Oasis Network considers itself to be scalable, it makes it well suitable for DeFi applications “due to instant finality, 99% lower gas fees compared to Ethereum, high throughput” and other factors, according to the Oasis Foundation.

In May, the Oasis Foundation announced that the fund had reached $235 million in total. Oasis Ecosystem Fund partners include Dragonfly Capital, Electric Capital and Pantera Capital, among others.

If you want to invest in ROSE, as is the case with any other crypto, be aware that they are all very volatile. In addition, it is strongly recommended to always do your own research to understand if a project is worthwhile, who is behind it and who supports it. Finally, make sure you can withstand some wild rides, as crypto prices tend to go up and down wildly.

Data is accurate as of July 12, 2022 and is subject to change.

This article originally appeared on GOBankingRates.com: Oasis Network (ROSE): Is This Crypto A Good Investment?

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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