♦️What is Omni Network (OMNI)?♦️
👉The Omni Network is a Layer 1 blockchain that serves as a bridge within Etherum's ecosystem, particularly uniting various rollup technologies to create a seamless environment for developers. This enables the creation of applications that can operate across all Ethereum rollups, integrating their liquidity and user bases effectively
👉OMNI fulfills several key functions in the Omni Network ecosystem:
♦️Universal gas resource: OMNI tokens are used to pay for transaction costs within the network.
♦️Omni EVM gas: OMNI serves as the currency for transaction processing on Omni's Ethereum Virtual Machine.
♦️Network governance: Holders of OMNI tokens participate in decision-making processes regarding upgrades and features.
♦️Staking: OMNI offers a dual staking mechanism, securing the network through both OMNI and Ethereum (ETH) tokens.
👉Omni integrates Ethereum's Engine API in its node design, allowing a separation of consensus and execution tasks which increases efficiency. Its CometBFT consensus enables rapid validation of transactions, typically under one second. The network is designed to support a wide range of roll-up technologies with minimal adaptation required from developers, allowing them to use existing Ethereum tools and smart contracts.
👉The project aims to restore Ethereum's early vision as a unified platform by overcoming the current fragmentation caused by isolated rollup solutions. By enabling easy cross-rollup communication and application development, Omni strives to foster a more interconnected and robust Ethereum ecosystem🔥
