Softbank participates in Oasys validator, also considering collaboration with Web3 service construction

1 year ago 78

SoftBank Joins Oasys

It was revealed on the 16th that SoftBank Corp. will participate as a validator for Oasys, a game-specific blockchain developed in Japan.

SoftBank highly evaluates Oasys’ mechanism and technical capabilities that consider users and IP holders, and will consider a wide range of collaborations, including the construction of blockchain services.

Oasys is a blockchain project specializing in games with the concept of “Blockchain for Games”. The consensus building algorithm adopts the PoS (Proof of Stake) method, which is environmentally friendly, and raises the issue of eliminating transaction fees (gas charges) for game players and speeding up transaction processing, which has been a major issue so far.

The 21 initial validators that operate the Oasys chain consisted of major domestic game companies such as Square Enix, Sega, Bandai Namco Labs, and GREE, as well as Web3-related companies such as bitFlyer and Aster. Softbank will participate as an additional validator.

connection: Square Enix’s new NFT project “Symbiogenesis”, Polygon will also be adopted

Keiichi Makizono, Managing Executive Officer and CIO of SoftBank, said:

We are very excited about Oasys’ flexible, user-centric architecture that meets the needs of both users and IP content holders. We are looking forward to working with Oasys to promote efforts to implement Web3 in society and solve social issues.

Daiki Moriyama, director of Oasys, said:

It is a great honor for SoftBank to share Oasys’ vision and to be selected as a Web3 business partner. First of all, by participating as a validator, not only will it lead to the stability of the Oasys chain and the expansion of the ecosystem, but we are also looking at business collaboration as a further development. We look forward to working together to develop the blockchain game industry through SoftBank’s relationships and synergies with SoftBank’s group companies and partner companies.

connection:Oasys launches governance structure for full DAO by 2028

Expanding Oasys Validators

In addition, it is said that four additional companies have decided to participate as the second group of validators of Oasys. Oasys explained in the release:

Starting with Softbank, we will further expand the Oasys ecosystem and strengthen the stability of the network by having companies that boast a high level of trust and achievements globally participate as validators.

In the medium term, in order to further decentralize the Oasys network, we plan to consider opening the participation of validators to the general public through discussions at the Genesis Council.

In January, Oasys launched governance as the first step in the process of decentralization, and plans to gradually establish a system for future public operations. In the future, holders of the original token OAS will be able to participate in various decision-making regarding the project, and the Oasys network will be decentralized.

2023 is a governance trial period, and network improvement proposals are limited to councils centered on Oasys partner companies. Regarding voting, a function that allows general token holders to participate is scheduled to be implemented within the year.

What is Web3

The current centralized web is defined as Web 2.0, and refers to an attempt to realize a non-centralized network using blockchain. A typical feature is the use case of decentralized networks such as blockchain, such as access to dApps using virtual currency wallets.

Cryptocurrency Glossary