Omni Network launches mainnet 'Core': Unified solution for Ethereum Layer 2

Omni Network, a scalable solution for Ethereum, has officially launched the Omni Core mainnet on Tuesday. This will be the underlying layer of the Omni Orderflow Engine, designed to integrate the fragmented Ethereum Layer 2 ecosystem.

“The aggressive growth of rollup solutions on Ethereum has resulted in the dispersion of $58 billion in total value locked (TVL) across more than 40 different networks, creating major challenges for both users and developers,” the Omni team emphasized. “Omni is designed to unify the ecosystem, provide smooth interoperability, and allow users and developers to approach Ethereum as a single, seamless chain.”

Omni, not to be confused with the second layer on Bitcoin with the same name, is one of the pioneering experiments in the growing field of restaking. Restaking, the process of reusing staked assets such as ETH to simultaneously secure multiple blockchain networks and applications, is expected to significantly increase the value of PoS networks and open up opportunities for innovative applications in the future.

The concept of restaking was first introduced widely through the EigenLayer test protocol and has become one of the most promising research areas on Ethereum. However, practical applications of restaking have been limited so far.

Omni, launched in 2023, aims to improve cross-chain interaction capabilities in the increasingly diverse Ethereum Layer 2 context. While Layer 2 has significantly reduced transaction costs, developed its own ecosystem, and provided optimized technological solutions for specific applications, this fragmentation reduces liquidity and limits overall users on Ethereum.

“Fragmentation has significantly limited Ethereum’s true potential. Liquidity is fragmented, while users face a host of unnecessary barriers to moving between rollups,” commented Tyler Tarsi, Omni’s Chief Technology Officer. Please provide the text to be translated.

Omni Core: Breakthrough in Ethereum interoperability

Omni Core includes a cross-chain messaging protocol and a custom EVM, which abstracts cross-chain interactions, providing a seamless user experience. Combined with SolverNet, another key component of the Orderflow Engine, Omni Core ensures transaction authentication and optimizes information flow between chains.

Initially, Omni supports interaction between the Ethereum base layer and leading Layer 2 chains such as Arbitrum, Base, and Optimism, which account for over 90% of the total locked value. By improving the interaction capability, Omni is expected to promote the development of tools such as stablecoin cross-rollup and DeFi primitives capable of aggregating liquidity from multiple sources.

The protocol is built on Octane, an open-source framework developed by Omni, enabling the integration of EVM into any decentralized application (dApp). Octane combines EVM with CometBFT - a popular consensus tool in Cosmos - to achieve high transaction throughput by handling concurrent consensus processes and execution.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making any decisions. We are not responsible for your investment decisions. Please provide the text to be translated. Join Telegram: Please provide the Vietnamese text to be translated into English. Twitter (X):

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According to The Block