Coinbase Reveals Surprise Support for Secretive Ethereum Competitor, Sparking Altcoin Rally
An altcoin built to bring privacy and scalability to the crypto market is blooming after receiving a surprise listing from Coinbase.
The leading US-based cryptocurrency exchange says that Oasis Network (ROSE) will start trading on Coinbase Pro paired with Tether (USDT) once appropriate liquidity conditions are met.
The Oasis ecosystem is a mid-cap Ethereum competitor that bills itself as the first blockchain network to support confidential smart contracts.
Oasis also seeks to reduce the high transaction costs common among layer-1 protocols as well as increase data transfer speed and efficiency.
Regarding how consumers can monetize their personal data, the project’s website says,
“With Tokenized Data users can earn rewards by staking their data with apps that want to analyze it or control how their most sensitive information is consumed by the services they use.”
The project’s native utility token ROSE can be used for staking, delegation and covering the cost of network transaction fees.
The network’s Parcel software development kit (SDK) seeks to harness the power of user data while also maintaining privacy and security.
News of the Coinbase listing sent Oasis Network vertical, jumping by 20% from $0.20 to $0.24.
At time of writing, ROSE has corrected slightly but remains up nearly 8% on the day and is priced at $0.23.
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Featured Image: Shutterstock/AddOuts/Natalia Siiatovskaia
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