Omchain price

OMC

#2401

OMC is used for paying transaction fees on the Omchain. Omchain have the following features;

• EVM Compatibility: Proven security, established tech stack, tools, standards and enterprise adoption
• Scalability: Always low transaction fees and side chain integrations enable highly scalable blockchain infrastructure for enterprise grade needs.
• Security: Audited, open-source software and consensus mechanisms enable secure infrastructure
• User Experience: Immediate transaction finality allows real life applications to be integrated with blockchain
• Developer Support: Not just the infrastructure but necessary tools required by the blockchain is also provided, such as mobile wallet and blockchain bridge.

Interactions with the omchain is done with OMC just like how any other gas token works.

Omchain represents a blockchain infrastructure that caters to a wide audience, including individuals, businesses, and organizations in need of advanced blockchain solutions. It is a project under the stewardship of the Omchain Foundation, emphasizing the development of a secure, scalable, and user-friendly blockchain environment. The platform is built to support a variety of blockchain-based applications and functionalities, including smart contracts, decentralized applications (dApps), and the creation of digital tokens.

At its core, Omchain is EVM (Ethereum Virtual Machine) compliant, utilizing the IBFT2 (Istanbul Byzantine Fault Tolerant 2) consensus algorithm to ensure secure and efficient transaction processing. This compliance with EVM means that Omchain benefits from a proven security model, a rich ecosystem of tools, and a broad base of developer knowledge and enterprise adoption. The blockchain boasts a block interval of just 2 seconds and a substantial block gas limit of 50 million, highlighting its focus on scalability and performance.

Omchain's native asset, OMC, plays a crucial role within the ecosystem. It is used primarily to pay for transaction fees on the network. OMC is interoperable across multiple blockchain networks, with bridging capabilities to Ethereum, Binance Smart Chain, and Avalanche networks, making it available as ERC-20, BEP-20, and ARC-20 tokens, respectively. This cross-chain functionality enhances Omchain's utility and accessibility.

The platform is designed with scalability in mind, offering low transaction fees and integration with side chains to meet enterprise-grade needs. Security is another cornerstone of Omchain, with the infrastructure undergoing regular audits and updates to maintain high standards of protection for users' assets and data. Immediate transaction finality is a feature that enhances the user experience, allowing for the seamless integration of real-life applications with blockchain technology.

For developers, Omchain provides not only the necessary infrastructure but also a suite of tools to support blockchain development, including a mobile wallet and a blockchain bridge. These resources are aimed at fostering a supportive environment for building and deploying dApps and other blockchain services.

Regarding its native token, OMC, there is a total supply of 410 million tokens, with a mechanism in place for burning tokens until the total supply reaches a target of 100 million. This deflationary model is indicative of the platform's long-term sustainability plans.

For those interested in acquiring OMC or engaging with the Omchain ecosystem, the token is available on various exchanges, and the platform offers an active staking program for token holders looking to earn rewards.

As with any investment in the cryptocurrency space, it's important to conduct thorough research and consider the risks involved. The dynamic and evolving nature of blockchain technology and digital assets necessitates a cautious approach to investment and participation in these networks.

Omchain employs a multifaceted approach to ensure the security and integrity of its network and user assets. At its core, the blockchain leverages advanced encryption techniques alongside robust network security protocols to safeguard data and transactions. This foundational security is further enhanced through the implementation of a proprietary consensus algorithm, specifically the Istanbul Byzantine Fault Tolerance (IBFT2) consensus mechanism. This algorithm plays a critical role in maintaining the network's resilience against attacks and ensuring that all transactions are processed in a secure and efficient manner.

In addition to these technical measures, Omchain places a strong emphasis on regular security audits and updates. These practices are essential for identifying potential vulnerabilities and ensuring that the network remains protected against evolving security threats. By continuously monitoring and improving its security infrastructure, Omchain demonstrates a proactive approach to safeguarding its ecosystem.

Another key component of Omchain's security strategy is its blockchain-based identity verification system. This system provides an additional layer of security by verifying the identities of users engaging with the platform. Such measures are crucial for preventing fraudulent activities and enhancing the overall trustworthiness of the network.

Omchain also incorporates digital identity solutions and two-factor authentication (2FA) as part of its security framework. These features are designed to protect user funds and personal information by adding extra verification steps that must be completed before certain actions can be performed. Furthermore, Omchain's strategic partnerships with other blockchain platforms contribute to a more secure and interconnected ecosystem, allowing for the exchange of best practices and the strengthening of collective security measures.

It's important for users to conduct their own research and stay informed about the security features and protocols of any blockchain platform they choose to engage with.

Omchain serves as a versatile blockchain platform designed to cater to both individual and business needs, emphasizing a user-friendly interface for engaging with blockchain technology. It enables the creation and execution of smart contracts, the development of decentralized applications (dApps), and the generation of new tokens, making it a comprehensive tool for leveraging blockchain's potential. The platform is engineered to ensure high levels of security and to support rapid transaction processing, addressing common concerns associated with blockchain technology.

The platform's utility extends across various industries, including marine conservation, sustainable agriculture, and financial services, showcasing its adaptability and the broad scope of its applications. Through its partnership with Layer One X, Omchain is set to enhance digital identity solutions, potentially transforming identity verification processes with blockchain's inherent security and transparency.

Omchain operates on an EVM-compliant Proof of Authority (PoA) blockchain, utilizing the IBFT2 consensus algorithm to achieve consensus quickly and efficiently. With a block interval of just 2 seconds and a substantial block gas limit, it is poised to meet enterprise-level demands. Its native asset, OMC, plays a crucial role within the ecosystem, facilitating transaction fee payments and enabling seamless interaction with the platform's features.

OMC's integration with major blockchain networks as ERC-20/BEP-20/ARC-20 tokens underscores Omchain's commitment to interoperability and ease of access. The platform's focus on scalability, security, and user experience, coupled with comprehensive developer support, positions it as a robust infrastructure for blockchain-based applications.

With a dynamic staking program and a clear roadmap for OMC's circulation and supply management, Omchain is actively engaging its community and stakeholders. The availability of OMC on multiple exchanges enhances its accessibility, allowing a wider audience to participate in the Omchain ecosystem.

As with any investment in cryptocurrencies, it's important to conduct thorough research and consider the inherent risks before engaging with the platform or purchasing its native asset.

Omchain has experienced several significant milestones that have contributed to its development and recognition within the cryptocurrency community. Initially, the blockchain's focus on developing advanced features such as smart contracts, decentralized applications (DApps), and token creation capabilities marked its commitment to providing a versatile and secure platform for developers and users alike. These features are essential for fostering an ecosystem where developers can build innovative applications without compromising on security or functionality.

The establishment of the Omchain Foundation was another pivotal event, emphasizing the project's dedication to supporting its ecosystem's growth and sustainability. This foundation plays a crucial role in funding research, development, and community initiatives, ensuring that Omchain continues to evolve and adapt to the needs of its users.

In addition to these foundational developments, Omchain has recently announced partnerships with Layer One X and Slash, signaling its intent to expand its network and capabilities through strategic collaborations. These partnerships are instrumental in enhancing Omchain's infrastructure and offering, potentially opening up new use cases and applications for the blockchain.

The native token of Omchain, OMC, has also seen a notable increase in value, reflecting the growing interest and confidence in the project's potential. As the gas token of the Omchain, OMC is used for transaction fees, making it an integral part of the ecosystem's functionality. The tokenomics of OMC, including a burning mechanism to reduce the total supply to a target of 100 million, demonstrate a commitment to maintaining the token's value and stability over time.

Omchain's focus on scalability, security, and user experience, alongside its EVM compatibility and support for developers, positions it as a promising infrastructure for enterprise-grade blockchain applications. With an active staking program and availability on multiple exchanges, Omchain is making strides in increasing accessibility and incentivizing participation within its ecosystem.

As with any investment, it's important to conduct thorough research and consider the risks before participating in the cryptocurrency space.