Oasis (ROSE) Launches Cobalt Upgrade to Offer Users Robust DeFi Capabilities
The Oasis Distributed Ledger (DLT) Technology Project (ROSE) announced the successful rollout of the Cobalt upgrade. The team claims that Cobalt comes with several important network features and improvements, including improved security, performance, and stronger governance mechanisms, according to a blog post from April 28, 2021.
Oasis (ROSE) completes its first upgrade
Oasis Network (ROSE), a blockchain privacy network for decentralized finance (DeFi) and responsible data economy, has taken another milestone in its existence as it has now successfully completed its first mainnet upgrade. baptized Cobalt.
As declared in his blog post, the Cobalt upgrade is fully developer ready, providing blockchain developers with more powerful tools that will allow them to build robust decentralized applications and everyday users, on the other hand, will have more control over the network.
Named Cobalt by the Oasis community through a voting process, the team says the Cobalt upgrade brings stronger network security, improved performance, more decentralization, and stronger governance mechanisms.
“Codenamed Cobalt, the first major mainnet upgrade marks an important milestone for the Oasis network as it lays the groundwork for unlocking all of the network’s decentralized financing (DeFi) capabilities. ”
New cool features
Notably, the team made it clear that Cobalt is introducing several enhancements to the network, including the ‘Light Clients and Checkpoint Sync’ feature, which speeds up the booting of new network nodes, Random Beacon Support, whose primary focus is to secure ParaTimes, and on-chain governance is now live on Oasis, to make it easier for ecosystem members to submit proposals and vote on key issues.
For the uninitiated, ParaTime is a high-performance, privacy-friendly scalability mechanism used by the network to process thousands of smart contract transactions per second. The ParaTime Oasis went to live on the mainnet earlier in March 2021, with full support for Ethereum Virtual Machine and Solidity.
Additionally, the team claims that upgrading Cobalt will also increase the Oasis validator pool from 80 to 100, bringing more security to the Oasis consensus layer, while increasing decentralization.
That’s not all, according to Oasis, developers can now take advantage of a more robust decentralized application building (dApp) environment through Oasis-Eth ParaTime, which offers users 99% lower transaction fees. ‘Ethereum.
At the time of going to press, the price of Oasis native crypto ROSE stands at $ 0.1557, with a market cap of $ 235.99 million, as seen on CoinMarketCap.
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