Blockchain News

Privacy-Focused Oasis Network Mainnet Is Now Live

  • The privacy-focused Oasis Network launched its mainnet.
  • One of Oasis’ main targets is DeFi. Through its private and scalable smart contracts, it can unlock new DeFi markets.
  • Binance listed Oasis Network’s native token ROSE.

The privacy-focused Oasis Network mainnet has completed its launch. As a result, this scalable, versatile, and private blockchain has the power to not only offer better user data security but also revolutionize the DeFi space.

After a successful mainnet beta, the Oasis Network is now live. Along with this, hundreds of decentralized applications (DApps), partnerships, and validators started supporting the network.

In particular, 70 unique and independent validator nodes are active on the network. Moreover, Oasis partnered with innovative startups like Binance-led CryptoSafe Alliance and privacy-first genomics company Nebula Genomics.

Oasis Network Use Cases, Listing on Binance

To explain, the Oasis Network mainnet has a unique architecture for a broad set of use cases. These include under-collateralized loans and private automated market makers (AMM). Using its confidential computing process and lightweight design, the Oasis Network can enable lower fees and allow the creation of identities via user-controlled data.

Focusing on DeFi, its private and scalable smart contracts can unlock new DeFi markets. For instance, individuals could upload sensitive financial data to establish their creditworthiness.  In fact, Oasis already has a rapidly growing ecosystem of DeFi projects under its wing. Balancer and Chainlink are some of them.

Accordingly, Binance announced the listing of Oasis Network’s native token. ROSE is specifically available for trading with BTC, BUSD, and USDT trading pairs from November 19.

As explained by the team, the ROSE token is believed to help usher in a new category of privacy-preserving applications. As a result, users are empowered to control and manage their data.

CoinQuora Staff

CoinQuora is an online publication that aims to educate about news, exchanges, and markets in the cryptocurrency and blockchain industry

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