There’s a lot of choice when you’re developing and building dapps, but there are some key reasons to include Oasis Network in your thought process. The blockchain ecosystem is fast, scalable and respects privacy. We’ve put together a list of five reasons to build dapps on Oasis Network.
With a plethora of blockchain choices for dapp developers on offer, it can sometimes prove challenging to make a decision. While one offers solid marketing and dev support, the other offers exorbitant grants and access to tech.
In this article, we dive into the Oasis Network. Alongside its rapidly growing ecosystem of DeFi partners, Oasis represents a solid choice for dapp developers looking to build DeFi, Play-2-Earn gaming, and privacy solutions. More importantly, the recently launched $500,000 DappRadar x Oasis dapp development accelerator can help dev teams reach their goals.
1. EVM compatible
Emerald, the Oasis EVM compatible ParaTime on the Oasis Network, allows for full EVM compatibility, easy integration with EVM-based dapps, such as DeFi, NFT, Metaverse, and crypto gaming, and features a cross-chain bridge to enable interoperability.
2. Highly scalable
Oasis Network is scalable and ideal for DeFi due to its instant finality, 99% lower gas fees versus Ethereum, high throughput, privacy protection, and defense against miner extractable value (MEV).
3. Two layers of consensus
Oasis Network architecture separates consensus and execution into two layers — the Consensus Layer and The ParaTime Layer — for better scalability and increased versatility.
Separation of consensus and execution allows multiple ParaTimes to process transactions in parallel, meaning complex workloads processed on one ParaTime won’t slow down faster, more straightforward transactions on another. Moreover, the network’s unique system of discrepancy detection makes Oasis more efficient than sharding and parachains — requiring a smaller replication factor for the same level of security.
4. Confidential smart contracts
Additionally, Oasis is the first network to support confidential smart contracts. The Oasis Eth/WASI Runtime is an open-source example of a confidential ParaTime that uses secure enclaves to keep data private while being processed.
5. Developed ecosystem
The Oasis Network has a thriving community of thousands of node operators, developers, enterprise partners, ambassadors, and community members globally. Several exciting projects are currently being built on the network, including the CryptoSafe Alliance with Binance, Nebula Genomics, Genetica, BMW, and more.
The World’s Dapp Store
While similar to other Layer-1 solutions, there are several compelling reasons to choose Oasis. Moreover, these five reasons relate specifically to the Oasis Network and its technical and community setup.
Additionally, Oasis Network dapps are tracked on DappRadar, now the World’s Dapp Store. With more than 1 million monthly site visitors accessing and analyzing dapps, launching on Oasis puts the hard work of development teams in front of an engaged and educated audience. Where they can start to build a community and further evolve services in line with customer needs.
500,000 reasons Oasis makes sense
The most significant opportunity is the $500,000 Oasis Network x DappRadar dapp accelerator program. The mission is to find ambitious teams from the DappRadar developer community and support them in building on the Oasis Network, specifically on the Oasis Emerald or Cipher ParaTimes.
The selected teams will get a grant of up to $50K in ROSE each, the Oasis Network’s native token, and an opportunity to launch their project with the Oasis Foundation’s and DappRadar’s direct support.
Key areas of interest are DeFi, P2E gaming, and privacy solutions. During the program, the teams will be offered support to ensure successful integration, community engagement, and fundraising. The selection committee, consisting of team members from the Oasis Foundation and DappRadar, will evaluate teams based on their track record, team composition, idea, stage of development, and roadmap before selecting the best 10 for the program starting in April 2022.
How To Apply
Submit your application by midnight CET on April 3, 2022. If you’re a member of the DappRadar community and working on projects such as DeFi, P2E gaming, or data privacy solutions, we want to support you.
The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds ETH, BTC, AGIX, HEX, LINK, GRT, CRO, OMI, IMMUTABLE X, GALA, AVASTR, GMEE, CUBE, RADAR, FLOW, FTM, BNB, SPS, WRLD, ATOM, and ADA.
