What is ROSE coin? What can ROSE coins do? How to store ROSE coins?

As the native cryptocurrency of the privacy-centric Oasis Network, ROSE coin (Rosetta) empowers its holders with governance rights, staking capabilities, and the ability to fuel transactions and privacy-preserving applications on the network.

Oct 30, 2024 at 05:23 pm

What is ROSE Coin?

Definition: ROSE coin (Rosetta) is the native cryptocurrency of Oasis Network, a privacy-preserving layer-1 blockchain.
Purpose: ROSE serves as a governance token, enabling holders to participate in network decision-making, such as voting on protocol upgrades and allocating resources.

What Can ROSE Coins Do?

Governance: ROSE holders can vote on proposals that shape the future of the Oasis Network, including changes to network parameters, funding allocations, and protocol updates.
Staking: Staking ROSE coins allows holders to earn rewards by securing the network and validating transactions.
Transaction Fees: ROSE is used to pay transaction fees on the Oasis Network, providing low-cost and efficient transactions.
Oracle Payments: ROSE can be used to pay for data requests to oracles, which provide off-chain information to smart contracts on the network.
Privacy-Preserving Applications: Development of privacy-preserving applications on Oasis Network require the use of ROSE for computation and storage fees.

How to Store ROSE Coins

Hardware Wallet: Hardware wallets like Ledger and Trezor provide secure offline storage for ROSE coins, protecting them from online attacks.
Software Wallet: Software wallets such as MetaMask and Oasis Rose Wallet enable storage of ROSE coins on a computer or mobile device.
Exchange: ROSE coins can also be stored on cryptocurrency exchanges like Binance and Coinbase, but it's recommended to transfer them to a more secure wallet for long-term storage.

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