⚙️ Improving the Scalability of Blockchain
How Oasys is developing high transaction speed and low gas fees for its blockchain to make it more scalable
Today's Highlights
- Oasys - making blockcain services more efficient
- Blockchain jobs - a listing of fresh jobs related to web3/blockchain/crypto.
- In Other News - a few interesting developments we're tracking.
Oasys - making blockcain services more efficient
Veterans from the established gaming world are flocking to web3. Whether they do it out of a fear of missing out or genuine belief in blockchain technologies, the trend appears irreversible at least for now, as investment keeps pouring into the industry. The founding team is deeply rooted in the Japanese gaming industry but picked Singapore as the firm’s other home because Japan has regulatory issues regarding crypto assets. Singapore has emerged as a crypto hub in Asia in recent years.
Some of the biggest obstacles facing blockchain-based applications are slow transactions and high gas fees, the costs incurred when a transaction is added to a blockchain. Infrastructure developers like Solana, Avalanche and Polygon are trying to make blockchain services more scalable. Oasys also shares the same goal. For most games to be “fun” or “good” in the blockchain, they need to be highly scalable with high transaction speed and low or zero gas fees for users.
The network uses the “proof-of-stake” consensus mechanism, a less energy-intensive alternative to the “proof-of-work” method used in the Bitcoin chain. In PoS, a validator “stakes” its tokens in the network and is responsible for ensuring data saved in the network is valid.
Eventually, Oasys hopes to allocate more governance power to its community and transition to what’s called a decentralized autonomous organization. In contrast to a traditional corporation with a board of directors who shape the firm’s direction, a DAO has no central authority and relies on blockchain-based smart contracts to execute decisions agreed upon by the community.
Gabby Dizon, Hajime Nakatani, Hironobu Ueno, Hironao Kunimitsu, and Shuji Utsumi are the co-founders of Oasys. Oasys has raised a total of $20M in funding.
💡 Blockchain Jobs
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In Other News
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