Want to jump straight to the answer? You can buy Oasis Network on Coinbase.
As crypto has become more popular in recent years, many of the most popular blockchains are struggling to keep up with the rising demand for transactions. As a result, transaction fees have soared on many blockchains. This is where Oasis Network steps in. It has created a blockchain that it believes is ready to be scaled while still allowing for low transaction fees.
What is Oasis Network (ROSE)?
The Oasis Network is a Layer 1 blockchain made up of two components: the consensus layer and the ParaTime layer. Both layers have their own unique functions that allow the chain to be fast and reliable.
The consensus layer allows for transactions to be processed through a proof-of-stake (PoS) system. In this system, validators give some of their ROSE position to the blockchain. Once they do this, they can verify transactions and earn rewards for doing so.
The other layer of the chain is the ParaTime layer. This layer is reserved to host the computational power needed to run decentralized applications (dApps) on the chain. Anyone can create projects on the chain. Additionally, the chain uses a trusted execution environment (TEE) that encrypts and decrypts all smart contracts before they are deployed onto the chain. This feature is meant to protect the privacy of developers.
The Oasis Network team currently has three ParaTime chains on the network. The Emerald ParaTime is an Ethereum Virtual Machine (EVM)-compatible network that allows developers to create projects with low fees and high throughput. The Cipher ParaTime is the smart contract application that is heavily privacy based. The Parcel ParaTime stores data and oversees chain governance.
The ROSE token powers the chain. It serves multiple purposes. First, it is used in Oasis Network’s PoS system. It can be staked and given as a reward, with 2.3 billion tokens out of the 10 billion supply reserved for stakers. Additionally, the token is used to cover transaction fees. The 10 billion token supply is divided into the following categories:
- 23.5% – staking rewards
- 23% – backers
- 5% – strategic partners and reserve
- 18.5% – community and ecosystem
- 10% – foundation endowment
- 20% – core contributors
Brief History of Oasis Network (ROSE)
Oasis Labs is the company that is the core developer of the Oasis Network. It was founded in 2018 by Dawn Song, a University of California, Berkeley professor. The first couple years were spent developing the network. In late 2020, the ROSE token was released to public exchanges. The project has attracted over $45 million in investment from a variety of venture capital firms, such as Binance Labs and Blockchain Capital.
The ROSE token hit all-time highs of nearly $0.60 in early 2022. However, it is currently trading under $0.20.
How to buy Oasis Network (ROSE)
Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs.
You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.
Though Coinbase doesn’t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade.
- New cryptocurrency traders
- Cryptocurrency traders interested in major pairs
- Cryptocurrency traders interested in a simple platform
- Simple platform is easy to operate
- Comprehensive mobile app mirrors desktop functionality
- Coinbase Earn feature rewards you with crypto for learning about available coins
- Higher fees than competitors
Now that you have a basic understanding of the Oasis Network and the ROSE token, you may be interested in purchasing the token. Fortunately, the process is fairly straightforward.
- Open an online account.
The first step in purchasing the ROSE token is to open an account on a crypto trading platform that supports the token. As of right now, Coinbase Global Inc. (NASDAQ: COIN) and Gate.io are the best trading platforms that offer the token. These are known for their ease of use, security and low fees.
To open an account, head over to the website and sign up using an email and password. You may have to provide some basic personal information to verify your account. You can then fund it by connecting your bank.
- Buy a wallet (optional).
While storing your position on a crypto trading platform may be the easiest, it may not be the safest and does not allow you to use the tokens outside of the trading platform. Wallets can fix this by giving users full discretion over their funds.
- Make your purchase.
With your funded account, use the search feature to find the ROSE token on the trading platform. Then enter the amount to purchase ROSE with and execute the trade. From there, your ROSE tokens will be stored in your portfolio and can be accessed at any time.
Best Crypto Wallets for ROSE Tokens
Best Hardware Wallet: Ledger
securely through Ledger Hardware Wallet’s
Launched in 2014, Ledger has transformed into a fast-paced, growing company developing infrastructure and security solutions for cryptocurrencies as well as blockchain applications for companies and individuals. Born in Paris, the company has since expanded to more than 130 employees in France and San Francisco.
With 1,500,000 Ledger wallets already sold in 165 countries, the company aims at securing the new disruptive class of crypto assets. Ledger has developed a distinctive operating system called BOLOS, which it integrates to a secure chip for its line of wallets. So far, Ledger takes pride in being the only market player to provide this technology.
- ERC-20 tokens
- All experience levels
- Easy to set up and use
- Supports more than 1,500 different digital assets
- Tamper proof
- Long-lasting battery
- Bluetooth connectivity features
Hardware wallets are physical devices that store the private codes needed to send crypto. If the physical device is not present to confirm…