Omni Network (Omni) is a layer 1 blockchain that aims to integrate Ethereum's Rollup ecosystem into a unified system. This article will delve into the multiple roles of the OMNI token, the project's mission and value proposition, as well as its technical infrastructure and future development prospects.
What is Omni Network?
Omni Network is an innovative blockchain project that aims to provide developers with a unified development environment by integrating Ethereum's Rollup ecosystem. With Omni, developers can build local global applications and access all Ethereum's liquidity and users by default.
Project Mission: Omni's mission is to return Ethereum to its role as a single, unified operating system for decentralized applications. With Omni, developers can program across multiple Ethereum Rollups as if they were working in a single state machine.
Project Value Proposition: Ethereum's Rollup-centric architecture forces the network to scale through isolated execution environments. This leads to fragmentation of liquidity, users, and developers, and reduces Ethereum's network effect. Omni solves these problems through its innovative architecture, enabling developers to work in a unified environment, greatly improving development efficiency and user experience.
Role of OMNI Token
OMNI is the native token of Omni Network and plays several key roles in the protocol:
1. General Gas Resource
2. OMNI is used as a payment mechanism to compensate relayers who submit transactions to the target Rollup.
3. Gas for Omni EVM
4. OMNI is the native currency for processing transactions on Omni EVM.
Network Governance: OMNI stakeholders will be responsible for various governance decisions, such as protocol upgrades and other developer functions.
Staking: The Omni protocol implements a dual-staking model to ensure economic security. Security is a function of the total value of staked OMNI and re-staked ETH.
Main Highlights of the Project
Dual-staking Model: Omni is a proof-of-stake network protected by the total value of re-staked ETH and staked OMNI.
Sub-second Verification: Omni nodes use CometBFT consensus to process cross-Rollup messages and Omni EVM transactions within one second. Using alternative finalization mechanisms such as pre-confirmation and transaction insurance, Omni can provide sub-second finality for cross-Rollup messages.
Diverse Rollup Support: Omni is designed with minimal integration requirements to ensure compatibility with any Rollup virtual machine, programming language, and data availability architecture.
Backward Compatibility: Applications can integrate Omni without modifying existing smart contracts. Instead, applications can use modified front-end instructions to send cross-Rollup messages through Omni.
Product Development
Omni Origins Testnet (June–July 2023)
Total number of transactions processed: 1.5M
Total number of unique users: 150K
Ecosystem projects: 4
Omni Overdrive Testnet (August–October 2023)
Total number of transactions processed: 6M
Total number of unique users: 400K
Ecosystem projects: 30
Omni Omega Testnet (March 2024–Present)
Total number of operators: 37
Total number of retryers delegated to Omni operators: 75,600
Technical Infrastructure
Modular Node Architecture: Omni introduces a new node architecture (Octane) designed around the Ethereum Engine API. This creates a clean separation between the consensus and execution environments of each node while allowing nodes to use existing Ethereum execution clients.
Integrated Consensus: Omni validators use CometBFT consensus and the ABCI++ voting extension to simultaneously validate cross-Rollup messages and transactions on the Omni EVM.
Native global applications: Omni EVM simplifies cross-Rollup application development by dynamically propagating contracts and interfaces to any Rollup. This approach to building cross-Rollup applications allows developers to program cross-Rollup applications in a single environment and minimizes the possibility of smart contract vulnerabilities arising from the complexity of handling distributed states.
Conclusion：Omni Network is changing the future of the Ethereum ecosystem through its innovative architecture and powerful technical infrastructure. OMNI tokens play multiple key roles in it, from general Gas resources to network governance to staking mechanisms, each of which is indispensable. As the project continues to develop, Omni is bound to lead a new trend in the blockchain field.
Whether it is developers or investors, Omni Network provides an unprecedented opportunity. With Omni, we can look forward to a more unified and efficient Ethereum ecosystem.