This article briefly describes the Meta and Oasis Network partnership. Oasis is one the more interesting smaller layer-1 networks we have covered.
Oasis Recap
For in depth analysis on Oasis and the Rose token, read out article on [Rose]. We covered Oasis again on another prime writeup involving some of our favorite Layer-1 tokens last year [right here]. The Rose token was in many of our portfolios the past years. Coinbusters has decided to remove our portfolios, but still remain transparent about which network tokens we own in our portfolio section.
Oasis Network is a privacy first network that carries smart-contract functionality, like Ethereum. As a rule, it is prudent to compare layer-1 blockchains to Ethereum which has been the leader of that market category for years. Oasis is able to scale massively because the consensus layer is separate from other transaction segments. With the consensus layer having a singular focus, the other layers can focus on the computer functions which generally have the largest amount of energy or complexity.
Oasis is Ethereum compatible, which these days is a must have for any network. This allows users to partake in a network outside of Etheruem, but with the Ethereum user interface, which is familiar for many. This also allows Ethereum applications to plugin to Oasis, since Ethereum has the largest ecosystem, this is imperative. Oasis is proof-of-stake which inherently takes less energy, and rewards users for locking up tokens on the network.
Oasis allows users to monetize data. Data monetization is currently dominated by the likes of Google, Meta, and Amazon. The data can be staked on the network, and those who partake will receive a reward in more Rose tokens. In the future, governance (voting) will allow for changes to the token economy. Users will have to pay a fee to access staked data in Rose tokens which can be changed through this voting. This data will be accessed in a private manner while not disclosing personal information.
Meta Partnership
Meta (formerly Facebook) has decided to partner with Oasis Network to assist with research and utilization for the upcoming AI models. Meta is a massive company that once had a market cap over 1 trillion. This partnership is focused on inclusiveness and fairness utilizing blockchain technology [1]. Oasis will allow Meta to enhance and research AI models, while maintaining inherent privacy which protects against bias. Oasis vows to ensure the responsible use of data through their technology, something Meta has seriously lacked over the years.
The Oasis mission strives for data usage ownership, something that has never been done before. For years, large tech giants have used once private online data for financial gain. Oasis intends to bring their technology forward for developers who seek interest governance, privacy-preserving data storage and computation [1]. Oasis also can potentially solve a scaling problem that Meta and other large companies suffer from. These massive companies will need powerful networks that do not rely on a single point of failure.
With the Rose token still 60% down from the all-time high, and a peak market cap of just under 2-billion dollars, Rose could possibly provide a massive ROI over the next few years. Staking increases these rewards through compounding. Remember, never allocate too much to a single altcoin, these are all considered high risk. These are the types of partnerships that should separate crypto assets from other markets over-time, Rose should not be trending with Bitcoin since it provides a completely unique and differentiated use-case. Please remember none of this is financial advice, do your own research, stay safe out there!
[1] https://medium.com/oasislabs/oasis-labs-partners-with-meta-to-assess-fairness-for-its-ai-models-97e153d707ef
