SoftBank Becomes a Validator of the Oasys Gaming Blockchain

Japanese conglomerate SoftBank has become a validator of the Oasys gaming blockchain. Senior vice president and CIO of SoftBank Keiichi Makizono said that the parties "will work together to explore the development of blockchain-based services for the gaming industry." What exactly is meant by blockchain-based services is not specified. Bandai Namco Research, SEGA, Square Enix and Netmarble are among the 21 original Oasys validators. Softbank added along with three more companies, bringing the total to 25.

The Oasys blockchain is built on a proof-of-stake algorithm. This means that not miners, but validators are needed to verify the data. To become a validator, it is necessary to hold a certain minimum of tokens and deploy software to validate blockchain data.

Oasys raised $21 mln in a token sale that ended in the middle of December. On January 31, the company announced plans to list on the Japanese crypto exchange Bitbank. In January, Oasys announced a plan to gradually transform its Singapore-registered entity into a decentralized autonomous organization (DAO). The OAS Oasys token is up 11% to 10 cents at time of writing, according to CoinMarketCap.

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