What is Oasis?
Oasis is a proof-of-stake blockchain that launched in November 2020 and separates consensus from smart contract execution. Its best-known execution layer, Sapphire, runs Ethereum-compatible contracts inside trusted execution environments so their stored data can stay encrypted. ROSE pays fees and is staked to secure the network.
Utility Lens
What Oasis actually does
Gives Solidity developers a place to run contracts that keep stored data and inputs confidential, plus a way to run heavier private code off-chain in secure hardware.
- Real-world usage
- earlySapphire and ROFL are live and used by developers, but confidential apps remain a niche.
- Token necessity
- essentialROSE pays transaction fees and is staked and delegated to secure the consensus layer.
- Decentralization
- moderateA proof-of-stake validator set runs consensus, but nodes running confidential ParaTimes such as Sapphire need specific secure hardware and a large share of tokens went to backers, contributors and the foundation.
- Track record
- provenMainnet launched in November 2020 and Sapphire followed in 2022; no major chain hack is documented in our sources, though TEE research keeps raising questions for all enclave-based networks.
What it’s used for
Developers deploy Solidity apps on Sapphire when they need data that other users and node operators cannot read, such as hidden keys or private game state. ROSE holders stake or delegate to validators. Since mid-2025, the ROFL framework has let apps run off-chain code inside secure enclaves with results checked on-chain.
Role of the ROSE token:
Evidence of real use
- Oasis says ROFL (Runtime Offchain Logic) went live on mainnet in July 2025, running app logic off-chain inside trusted execution environments. Source (opens in a new tab)
- In October 2025 Oasis locked one wrapped bitcoin in a Sapphire contract as an open challenge to anyone who could break the enclave and extract the key. Source (opens in a new tab)
Privacy: what’s hidden, what isn’t
- Privacy model
- app-level
- What it hides
- The stored state of Sapphire contracts and, when the user's client encrypts them, the data sent to and returned from a contract.
- What stays visible
- That a transaction happened, its status, error code and revert message, emitted events unless the app encrypts them, and side-channel hints such as gas use and timing.
- Reality check
- Privacy relies on trusted hardware rather than math, so it is only as strong as the enclaves; Oasis says its SGX setup was unaffected by the 2025 attacks on other networks. ROSE is legal to own in the US and is offered by Coinbase.
How Oasis works
Oasis splits its network into two layers. The consensus layer is a proof-of-stake chain, built on a modified version of the Tendermint engine, that orders blocks and records results from above. On top of it sit ParaTimes, separate execution environments that run smart contracts and report their updated state back down. Different ParaTimes can use different virtual machines, and only some of them are confidential.
Sapphire is the confidential one most people mean. It accepts Solidity code, but each node runs it inside a trusted execution environment (TEE), a sealed area of the chip that decrypts data, runs the contract and encrypts the results again. Stored contract data cannot be read even by full nodes, and calls can be encrypted end to end between the user and the contract.
Confidential does not mean invisible. Oasis's own developer docs say a transaction's status, error codes and emitted events are public unless the app encrypts them, and that branching on secret values can leak hints through timing and gas use. ROFL, launched on mainnet in 2025, extends the same enclave model to off-chain programs such as bots or AI agents whose outputs are verified on-chain.
Key moments
- 2020Oasis mainnet goes permissionless on November 18 and ROSE becomes transferable.
- 2022Sapphire, a confidential EVM-compatible ParaTime, launches after a testnet phase.
- 2025ROFL mainnet goes live in July; in October Oasis opens a public challenge with one wrapped bitcoin locked in a Sapphire contract.
Supply
ROSE has a fixed cap of 10 billion tokens, with about 1.5 billion circulating at the 2020 launch. Roughly 2.3 billion are set aside to be paid out over time as staking rewards, and the rest went to backers, core contributors, the community fund, a foundation endowment and partners on a multi-year release schedule.
Risks to understand
- Sapphire's confidentiality depends on Intel SGX hardware; Oasis says it was unaffected by 2025 enclave attacks, but a future chip flaw could weaken the guarantees.
- Developers can still leak private data by accident through public events, error messages, timing or gas patterns.
- Confidential apps are a small market, so network activity and token demand may stay limited.
- From July 10, 2027 EU-regulated crypto providers may not handle anonymity-enhancing coins, a rule whose reach over privacy-focused networks is still unclear.
Oasis FAQ
Is Oasis a privacy coin?
Not in the usual sense. ROSE itself is an ordinary staking and fee token; the privacy features live in confidential smart contracts on Sapphire and in ROFL apps.
Can I buy ROSE in the US?
As of October 2026 Coinbase lists Oasis Network as available on its exchange. Availability can vary by state, so check the exchange's own page.
How is Sapphire different from Ethereum?
It runs the same Solidity code, but contract storage is encrypted and calls can be encrypted end to end, so block explorers show much less.
Sources
- Sapphire ParaTime (opens in a new tab) — Oasis Documentation
- Sapphire vs Ethereum (opens in a new tab) — Oasis Documentation
- Sapphire concepts (opens in a new tab) — Oasis Documentation
- Token Metrics and Distribution (opens in a new tab) — Oasis Documentation
- ROFL Mainnet: Official Launch (opens in a new tab) — Oasis Protocol Foundation
- Oasis TEE Break Challenge (opens in a new tab) — Oasis
- Oasis Mainnet is Live and so is Staking on Anthem (opens in a new tab) — Chorus One
- Oasis Network (ROSE) price page (opens in a new tab) — Coinbase
Last reviewed October 20, 2026. Written by Dave McNaught. Utility Lens ratings are editorial judgments, not investment advice. Market data from CoinGecko. Spot an error? Request a correction.
Dave McNaught
Dave McNaught has worked in IT since 1999 and founded All Business Technologies (ABT) in 2003, a Boston-area firm providing Managed IT, Cybersecurity, Managed AI, Web Design and App Development. He publishes The Crypto Guide.