Track NFT activity on optimism using alchemy

The Omega Network (OMN Coin) project was born with the initial goal of bringing blockchain to everyone by supporting the introduction, mining and distribution of cryptocurrencies through smartphones. The article describes the OmTech team’s mission and how they plan to achieve it.

Our mission: Build an OMN cryptocurrency and smart contract platform. Use the decentralization of science, engineering and technology to change the world and revolutionize people’s Internet usage habits.

Our vision: Build a single-tier trading platform with deep liquidity connecting traders, exchanges, institutions, DeFi platforms, wallets and dApps.

In addition, you can use Web3 technology applications for life.

To do that, we would build the first 1,000,000 decentralized nodes around the world. The first million nodes are pioneers in installing and exploiting the OMN (Omega Network) application. The software is available on Google Play or AppStore.

When we reach one million nodes, we will conduct a pre-mainnet. When we reach ten million nodes, we will organize the Main-Mainnet.

The OMN Network is the product of the Omega Network team’s efforts to create a true alternative currency similar to the PI Network. We aim for Om to become a gold coin and PI to become a diamond coin.

Many alternative currencies have come and gone, and others have changed, but all have problems. Omega is known as PI for all Altpi-free because it has similar features to PI and works as pre-SCP systems with a focus on decentralization and security. SCP is a result of the Federal Byzantine Agreement and is a new consensus method using the Byzantine Fault Tolerance Protocol

(BFT).

Although there are similarities with PI’s protocol, it differs in the hashing algorithm.

Cryptocurrency (or crypto, digital currency) is a form of currency designed with the main purpose of replacing current legal ones.

– Peer-to-peer transactions: No third party will interfere with your transactions.

– Decentralized: Cryptocurrencies are not controlled by any organization.

– Safety: Blockchain technology makes electronic money almost absolute security.

– Cannot be counterfeited: Cryptocurrency is a digital asset; it’s not physical, so it can’t be faked.

Cryptocurrencies have become more popular and accepted than ever before as a type of digital asset with many new and superior features compared to traditional assets. Crypto, in addition to being owned by famous businessmen, billionaires and financial experts such as Elon Musk and Robert Kiyosaki, has also gained more and more support and acceptance from major financial institutions such as PayPal, Mastercard, SEC (Securities Commission), etc.

Cryptocurrencies have come into the spotlight since the introduction of Bitcoin. The goal of cryptocurrency protocols like Bitcoin is to maintain a living decentralized transaction ledger while defending against double-spending attacks by malicious Byzantine actors who deviate from the protocol. Consensus in the Bitcoin transaction ledger is ensured by a network of miners competing for rewards on the blockchain. This mining, or proof-of-work, comes with a hefty cost. Proof-of-work-based consensus protocols are also slow, requiring up to an hour to confirm a reasonable payment to prevent double-spending.

Token economy is essentially a new way to incentivize human behavior. The main method of mechanism design is to designate a mechanism to motivate actors to act rationally in a particular way, based on their capacity, to produce the results that society expects. To add value to OMN, we encourage pioneers to exchange goods, services and expertise with their OMN balances. In parallel, we will distribute OMN listing on major electronic exchanges for trading; integrate Web3 into our network to make transactions with Metamask and Trust wallet easier.

On the other hand, OMN seeks to strike a balance between popularity and scarcity. We want to ensure that our users get more OM when they contribute to the network. OMN’s goal is to build an economic model that is sophisticated enough to achieve this priority while being universal for everyone to use.

OMN economic model design requirements

Simple: Build an intuitive and transparent model

Fair distribution: Give a critical mass of the world’s population access to OMN

Scarcity: Create a sense of scarcity to maintain the OMN price over time

Meritocratic Mining: Reward contributions to build and maintain the network

OMN – Token Supply

Token emission policy

Total Max Supply = M + R + D +C

M = total mining rewards

R = total referral rewards

D = total developer rewards

C = total coupling part

M = ∫ f(P) dx where f is a logarithmically decreasing function

P = Population (e.g. 1st person who joins, 2nd person who joins, etc.)

R = r * M

r = referral frequency (50% overall or 25% for both referrer and referee)

D = t * (M + R)

t = developer reward rate (25%)

M- Mining Supply (Based on fixed mining supply minted per person)

This supply is then released over the lifetime of that member based on their level of commitment and contribution to network security. The supply is released using an exponentially decreasing function similar to Bitcoin over the lifetime of the member.

Stay up to date with the Omega Network via the following links:

Website | Twitter | Telegram

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