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Oasis Network (ROSE) Announces Oasis Bloom Hackathon

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In its recent Medium post, published on March 25th, the Oasis Foundation, representing Oasis Network (ROSE), announced that it will organize the Oasis Bloom Hackathon. The Foundation invited everyone who considers themselves to be a passionate and daring developer to join the Hackathon and win up to $200,000 in prizes.

Even those who are not a part of the project’s community can still join, learn more about the Hackathon, the Oasis Network and its ecosystem, and win great prizes.

The announcement says that the Hackathon will start on March 31st at 6 PM UTC. It has a series of scheduled events worth attending, such as:

  • Find a Team — March 31, 6 PM UTC
  • Office Hours — April 4, 8 AM UTC
  • DEFI 2.0: Trends & Project Ideas — April 5, 5 PM UTC
  • P2E Gaming: Trends & Project ideas — April 12, 7 PM UTC
  • Project Ideas Pitch Night — April 14, 5 PM UTC
  • Hackathon Telegram AMA — April 20, 3 PM UTC
  • Office Hours — April 27, 6 PM UTC

The events are expected to be highly informative and interactive, where attendees will be able to ask questions to developers and understand all the details that they have been wondering about while researching the project, as well as the biggest trends in the crypto industry, on their own.

About Oasis Network

Oasis Network is a privacy-enabled, scalable, layer-1 blockchain network that combines low gas fees with high throughput to ensure great scalability and low cost of use. However, it did not have to sacrifice security in order to ensure better scalability, thanks to its architecture.

The project aims to provide a foundation for the next generation of the internet, which is Web 3.0. Along the way, it is happy to help power DeFi, GameFi, NFT, Metaverse, Data tokenization, and Data DAOs as some of the biggest and most popular trends in crypto history.

In short, Oasis’ goal is to help propel Web3 forward, helping it scale and evolve from infancy to maturity. It uses advanced technologies to separate consensus and execution into two layers, and its network’s sophisticated discrepancy detection makes the project’s approach more efficient than parachains or sharding, which were used by other projects seeking scalability.

One thing worth noting, however, is that Oasis has 3 ParaTimes built into its network. ParaTimes, or ParaTime Layers, are entirely decentralized, and they allow anyone to develop and build their own ParaTime. One of them is EmeraldParaTime, which is compatible with VMP. It was created to solve the issues that Solidity developers have encountered, specifically high fees and low throughput. Emerald solves these issues, increases the throughput of transactions to 1,000 TPS, while fees were reduced by 99% compared to Ethereum’s fees.

We mention Emerald specifically because Kyber Network announced on March 24th that it has integrated on Oasis Emerald as their 10th chain, meaning that users can now swap tokens on this chain in order to achieve some of the best rates that the crypto industry has to offer.

Finally, it is also worth mentioning the project’s native cryptocurrency, ROSE, which is used for transaction fees, staking, and delegation at the Consensus Layer. By staking the ROSE token, users can receive up to 20% APY rewards from the Oasis blockchain, which is certainly something work considering for the staking community.

The token did see a significant price drop in 2022, although this doesn’t make it any different from the rest of the crypto industry, which has been struggling with the bearish market ever since November 2021. Previously, however, ROSE was growing from July 20th, 2021, until January 14th, which was when it reached its all-time high at $0.56. At the time of writing, its price sits at $0.26.

To learn more visit our Investing in Oasis Network guide.

Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.