The Oasis Foundation, the organization behind the privacy-focused blockchain protocol Oasis Network (ROSE), has announced the release of EVM-compatible Emerald.
Emerald, an Ethereum Virtual Machine (EVM) compatible ParaTime developed by Oasis (ROSE), has been released on the mainnet. With this move, the project aims to attract more projects from the DeFi, NFT and gaming industry to the network. It was stated that they aim to provide an enhanced DeFi and NFT experience for users, but they want to provide this with very small transaction fees compared to Ethereum.
https://twitter. com/OasisProtocol/status/1462785284655955975
ParaTime is one of the two core components of Oasis. Consensus layer, a proof-of-stake consensus, is run by a decentralized set of validating nodes, providing high efficiency and security. Another component, the ParaTime layer, contains many parallel runtimes that represent a replicated computing environment with shared state. Oasis also promised “high throughput and instant transactions,” features powered by the “unique ParaTime architecture.”
The network, which has processed more than 4 million transactions so far, consists of 110 active validators and more than 4,000 agents. The project integrates with Ethereum-based dApps via cross-chain bridges, so these numbers are expected to rise after its release. Developers will be able to use these bridges to solve some of the biggest user experience challenges in existence today, such as rising gas fees and congested networks. Jernej Kos, Director of the Oasis Foundation, said:
As it is known, Oasis Network recently announced an ecosystem fund of 160 million dollars. After the news, ROSE made a big leap and broke a new record by rising from $0.21 in the following days to $ 0.44, where it was traded. ROSE, which has gained 62% in the last 7 days, is trading at $ 0.36 as of broadcast time.