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Unveiling Oasys Blockchain: Features, Technology, and Adoption Insights
Oasys blockchain, not to be confused with Oasis, presents a unique ecosystem that caters to game developers and players in the crypto space. Let's delve into what sets Oasys apart from other chains and explore some of its key features:
Oasys Blockchain Overview
- Layer Structure: Oasys comprises its own layer 1 blockchain known as the Hub layer and an Ethereum-compatible layer 2 scaling solution called the Verse layer. Together, these chains form the Oasys protocol.
- EVM Compatibility: Oasys is Ethereum Virtual Machine (EVM) compatible, enabling seamless transfer of assets like crypto tokens from other EVM chains into its ecosystem.
- Consensus Mechanism: Similar to Ethereum, Oasys utilizes the proof of stake method to finalize transactions on its blockchain.
Hub Layer Details
- Public Blockchain: The Hub layer serves as Oasys' public EVM-compatible layer 1 blockchain. It operates on proof of stake and utilizes the OAS token.
- Technology: The Hub layer is built on a forked version of Go Ethereum (gETH) with minimal modifications, as outlined in the Oasys whitepaper.
- Smart Contract Restrictions: While considered a public blockchain, the Hub layer does not accept new smart contracts without approval from the Oasys development team.
Validator Participation
- Staking Requirement: To participate in the proof of stake mechanism on the Hub layer, tech-savvy Oasys enthusiasts must stake a minimum of 10 million OAS in the validator contract.
- Incentives: Staking tokens allows users to potentially earn rewards over time by securing the blockchain network.
Adoption and Activity
- Transaction Volume: As of January 17, 2024, Oasys' Hub layer has processed over 5.2 million transactions and connected with more than 32,000 crypto wallets.
- Validation Method: In addition to the proof of stake mechanism, Oasys employs the Verse scaling solution to enhance transaction throughput.
By offering a distinct structure with its Hub and Verse layers, Oasys aims to provide a platform that caters to the needs of game developers and players within the crypto gaming space. The staking requirements and smart contract approval process on the Hub layer underscore Oasys' commitment to maintaining network integrity and security while fostering growth and innovation in the gaming sector.
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