With the introduction of Bitcoin in 2009, thousands of other cryptocurrencies have been created.
One such cryptocurrency is XOS, also known as Oasis, launched in 2018. It was a takeover of the 2017 crypto project. In this article, we will discuss everything about the XOS oasis, its origin, and many other things about the coin.
Table of Contents
- 1 What is XOS / Oasis Crypto?
- 2 Features of XOS Oasis Crypto
- 3 The Mission and Goal of the Crypto
- 4 People Behind the Crypto
- 5 How Does XOS Crypto Work?
- 6 What Makes It Unique Compared to Other Cryptocurrencies?
- 7 Conclusion
What is XOS / Oasis Crypto?
Oasis is a PoS/MN cryptocurrency. It is created based on the PIVX codebase and uses the same private-send and proof-of-stake (PoS) code. A group of like-minded individuals founded it.
It aimed to be used as a global and decentralized digital currency for financial transactions.
Oasis Crypto Specification
Oasis Crypto is a part of Stake/Masternode cryptocurrency with a low circulating and predicted supply.
With a 75%/25% reward structure and 0.2 XOS per block, presently, OASIS Nodes receive 0.15 XOS per reward, and PoS receives 0.05 XOS. At Block 1553601, rewards will decrease to 0.1 XOS, where OASIS Nodes will receive 0.0725 XOS and PoS will receive 0.025 XOS per block.
The subsequent decrease to 0.05 XOS will be at Block 3656001. After 19 years, it will have created a projected supply of 1,371,250 XOS.
With an anticipated supply that will take more than four years to reach one million, XOS has a level of scarcity not seen in many other cryptocurrencies. As a result, transactions of a fraction of an XOS will be the norm.
Implementation of Masternode and Bitcoin Core
XOS is perfect for Masternode operators looking to acquire their own nodes. Low difficulty and start-up costs give everyone the ability to become part of the network.
XOS is built on the latest version of Bitcoin Core which gives it the stability needed for everyday use. This, along with its master node capabilities, are some of the key features that make it stand out from other proof-of-stake currencies.
In addition, XOS uses the latest encryption technology that is ASIC resistant, which allows for increased security and protection of your funds.
The Founding Story of XOS Crypto
In 2017, the Oasis project launched its ICO with many investors funding it. Unfortunately, the project was abandoned due to a lack of development progress shortly afterward. A new project started by the community members of Oasis proposed a solution that would take over the previous project.
The project’s progress came to a halt following an abrupt change in the development team. The new team took over XOS, a functional blockchain-based cryptocurrency that could be used for real-time payments, online shopping, bill payments, and a lot of other things.
The updated version of Oasis was launched with a set of new key features that could solve some of the major problems faced by crypto users. The project was renamed XOS after the development team completed distributing all of the coins reportedly held in escrow accounts.
Oasis/XOS Phase 3.0
Oasis V3.0.0 was released on July 15th, 2021. It is a new and highly upgraded blockchain with the integration of the ability to store assets on-chain that are created by a user locking XOS into a built asset.
The initial genesis chain was mined and rewarded solely with XOS coins. Users who held and redeemed from the inception chain received a one-to-one exchange of their coins using the snapshot and private key importation.
The next update will let users create and manage NFT assets and transfer them to other Oasis users. In addition, a UIA client, package manager, wallet system, dApp store, and web client have been added to support these features.
Features of XOS Oasis Crypto
To build a competitive and robust network, Oasis Crypto implements the following:
Masternodes are digital wallets that securely store your XOS and allow you to receive rewards from network transactions.
To get a masternode, the user must have 500,000 or more coins locked into it. They can then receive rewards from blocks while allowing other users to secure the network.
Proof of Stake
To ensure that the Oasis Crypto network is decentralized, XOS implements PoS mining. This process ensures that all users have an equal chance of being rewarded at any given time, which helps to maintain stability in the mining rewards system.
Since Oasis Crypto uses masternode technology, users must keep their wallets open at all times for them to qualify for staking rewards.
To protect against large networks buying out dedicated hardware chips, Oasis Crypto uses a proof-of-work algorithm that Litecoin and Dogecoin also use. The use of this algorithm allows smaller clusters to compete effectively.
Oasis Crypto is built with a maximum supply of one billion coins making it rare compared to other cryptocurrencies.
The coin was made available for mining to the public to give everyone equal opportunity to own the coins.
However, ASIC hardware is useless for mining coins running on the Scrypt algorithm. Due to its ability to target specific equipment, it is harder for people who do not own these chips to mine XOS.
The Mission and Goal of the Crypto
The development team of Oasis Crypto wants to see it become more usable, accessible, and adaptable.
The goal is to ensure that individuals no longer have to worry about security issues because they can keep their coins safe. The foundation’s ultimate aim is to increase the number of people using cryptocurrencies, contributing to mass integration into our daily lives.
The team wants to create a platform where individuals can trust the system to use it for managing their finances. This way, ownership will be transferred from banks to individuals.
Some other goals include:
- Creating opportunities for everyone in society to own and use crypto
- Reducing risk for crypto investors by eliminating volatility
The mission of the crypto is to:
- Bring awareness to the community about the potential of blockchain tech and its role in changing our future
- Increase public adoption by creating a simple and easy-to-use platform accessible to anyone globally
- Onboard new developers who can help with the platform’s growth and maintain its success
- Make it easier for organizations to adopt and use blockchain tech by offering them custom-built services to help their businesses grow
Oasis Crypto has also created a support network for its users to ensure that they have all the information and tools required to manage their coins successfully.
In addition to their work on the main blockchain, the team is also working on a project related to non-fungible tokens (NFTs). This will allow for the creation of unique digital assets that can be stored and used on the network. These tokens will be used to represent different items, such as collectibles, products, and services.
People Behind the Crypto
The team behind Oasis Crypto is composed of individuals who want to make a difference in the cryptocurrency space. They are dedicated to developing a platform that can make crypto more adoptable.
Oasis Crypto is a project developed by individuals from different fields. The website doesn’t mention anything about who developed and led the technical operation. However, it lists “Brandon James” and “Pesh” as community leaders.
How Does XOS Crypto Work?
Oasis XOS Crypto has been designed to work alongside other cryptocurrencies, whether they use a proof-of-work or a proof-of-stake consensus.
As a result, the coin can be used by both consumers and merchants worldwide for payment transactions.
XOS features a unique reward structure that helps individual nodes remain competitive compared to more extensive networks, making this cryptocurrency perfect for smaller masternodes. Moreover, you can use XOS to send and receive funds or trade on an exchange that supports the currency.
Oasis has a lot of benefits, such as its low supply and exclusive features like Master Nodes, with high ROI (Return on Investment). These can attract investors to this cryptocurrency.
Oasis Coin Wallets
XOS strives to have its own wallet to make it possible for users to make instant transactions without relying on third parties.
The Oasis coin already makes some wallets available for some devices, adding more to the list. This will be perfect for day-to-day purchases and sending or receiving funds between friends, family, or business partners with wallets.
Oasis coin recently launched wallets for different devices, including Windows, macOS, Linux. Furthermore, they are also working to bring web wallets and paper wallets. You can download these wallets from the website of Oasis coin.
Their wallets are well-designed and enable you to send and receive the crypto coin. It also shows you how much XOS you are earning through staking and masternodes with a status bar.
What is the Oasis Coin Used for?
The Oasis coin can be used to send or receive funds or engage in trades on exchanges that support the currency.
The Proof-of-Stake system ensures that the OASIS network is stable, allowing users to make transactions without worrying about interruptions. The security of your funds remains intact whether you are storing your coins for extended periods or making frequent transactions.
XOS Crypto Price, Trading Volume, and Market Capital
There is not much information available about the coin’s price, market capital, and trading volume. Big sites like CoinMarketCap and Binance are not tracking the data of this coin. As per CoinGecko, the crypto coin price was $1.30, with the volume of just $1.30 at the beginning.
Its all-time high was $11.22, with a volume of $14.8 in February 2021. The all-time low price was $0.00000327. The coin’s current price is $0.01372896 (as of January 17, 2022). Interestingly, none of the sites provides any information about the market capitalization of the coin.
What Makes It Unique Compared to Other Cryptocurrencies?
One of the main aspects that makes Oasis special is its low supply, which means that XOS will appreciate in value over time.
The core network layer for this cryptocurrency uses a consensus mechanism to verify transactions while allowing people worldwide to engage with it without relying on intermediaries or centralized authorities.
The low supply of Oasis Coin means that it has a deflationary nature, which is attractive to investors.
Oasis XOS Masternodes are specialized nodes in the network that offer more sophisticated functions than standard nodes. As mentioned earlier, the masternodes use an algorithm based on proof-of-stake systems to distribute rewards fairly and accurately within the network.
The secure, high-speed transactions provided by the Oasis coin allow it to be a practical payment method for online purchases and in-store transactions. The ability of this cryptocurrency to process transactions quickly ensures that merchants do not have to worry about long time lags before receiving their funds.
All of these things make crypto different from the traditional cryptocurrencies out there.
By now, you should be a reader’s digest subject matter expert on XOS. Hopefully, this article gave you the information you needed to learn more about this exciting crypto and determine for yourself whether this belongs in your crypto portfolio.
In summary, the Oasis coin is a unique cryptocurrency with many benefits for users.
It offers faster transactions, low fees, and increased security to ensure the safety of your funds even when you are making frequent transfers or purchases. In addition, the lack of transaction times combined with the decentralized nature means that merchants have greater flexibility when it comes to payments.