[ Blockchain Column ] What is OMNI?
Omni Network is an advanced blockchain platform designed to overcome the limitations of blockchain technology and explore new possibilities. This network aims to build a modular ecosystem that provides high performance and global compatibility by combining the security of Ethereum and the flexibility of Cosmos.
1. Structure and Goals of Omni Network
Omni Network consists of two major components:
- Omni EVM (Ethereum Virtual Machine): This is a utility layer compatible with Ethereum, which can process Ethereum-based transactions. It allows developers to easily develop new applications that are compatible with existing Ethereum applications.
- Omni Driver: This layer enhances the security and verification processes of the network. It connects through Omni Validators to Ethereum and uses re-staked Ethereum assets to maintain consensus and security within the network.
Omni Network facilitates rapid cross-rollup message verification and integration of each rollup architecture and application, while providing a programming layer to manage application deployment. It is based on Ethereum’s cryptographic economic security and is designed to enhance compatibility across the entire rollup ecosystem.
2. Operating Principle
Omni Network can easily transfer and process messages between different rollups through cross-rollup applications. This means that assets can be converted between rollups without the need for cross-chain solutions. The network is built on the Cosmos SDK and uses the Tendermint consensus mechanism, allowing for faster state verification than layer 1. Thanks to its compatibility with Ethereum’s EVM, developers can use Solidity and EVM to build applications across multiple chains.
3. Token Economics (OMNI Coin)
The OMNI coin is the native token of the Omni Network and plays critical roles in network fees, governance, and security. OMNI can be used as gas across various rollups, similar to how natural gas is used in the real world, enhancing network flexibility and convenience for users and developers. The total supply of OMNI coins is 100 million, supporting the growth of the network through various distribution paths and allocations.
4. Future Outlook
Omni Network is establishing itself as a next-generation blockchain technology by enabling security through Ethereum re-staking, fast information transmission, and seamless integration between rollups. Developers can use Omni to build global applications that operate across all rollups, which will facilitate the universal adoption and spread of blockchain technology. Additionally, by offering high compatibility and flexibility, Omni Network will play a crucial role in overcoming existing technological limitations and improving accessibility to a broader range of applications and services.
