This is a recap of the key questions answered during the AMA between BWare Labs and Omni Network on May 17th, 2023.
Innovation in Omni's blockchain design
Omni's unique design melds the advantages of Ethereum and Cosmos. As a Cosmos chain, Omni can be highly specialized and performant. Simultaneously, as an auxiliary network to Ethereum, it employs Ethereum’s validators to attest to the state of other rollups on Omni. This allows Omni to derive security from Ethereum itself.
Potential challenges to Omni's model
For Omni, the use of Tendermint consensus delivers extremely fast block finality, however it also implies that its network is restricted to a maximum of hundreds of nodes. Consequently, the team is prioritizing geographic distribution of nodes to ensure a globally distributed network.
Network decentralization best practices: Bware Labs’ perspective
Bware Labs has been at the forefront of network decentralization best practices, working closely with various projects to ensure fair distribution of validators. To prevent centralization, Bware Labs urges validators to diversify a set of providers and their geographic location. The infrastructure employed by validators also plays a vital role: Bware Labs leans towards bare metal solutions due to their superior performance and higher uptime.
Role of Bware Labs and Blast API in supporting projects decentralization
Bware Labs is the one-stop solution provider for boosting blockchain adoption. Following the release of Blast API, Bware Labs is moving into the next stage of decentralization by releasing INFRA, the token that will power the Blast protocol and allow it to improve the state of Web3 infrastructure. Up until Blast the Blockchain API market was either fully centralized or decentralized and lacking in performance, but now, with the listing of INFRA, all builders in the Web3 space will finally have the opportunity to make no trade-off when choosing their infrastructure provider. Combining a state-of-the-art technical solution that allows node operators to permissionlessly register within the platform and answer requests with a transparent incentivization protocol based on staking and delegations, Blast comes as a new generation solution to the problem of Web3 infrastructure centralization.
How is $ETH restaking core to Omni's security
As Omni is building core infrastructure for Ethereum, it makes sense to secure it with $ETH itself. ETH is extremely sound collateral, it is one of the largest markets in crypto making it one of the most difficult to manipulate. In addition it offers Omni unprecedented scale and highly efficient communication between rollups at large.
The Role of EigenLayer in ETH Restaking
EigenLayer allows people to stake their $ETH, and simultaneously opt into additional responsibilities. People opt in to Omni Network responsibilities (rollup state attestation) in exchange for additional yield. If a restaker isn’t telling the truth, this will ultimately be provable on ETH L1. In such case, their ETH will be slashed. Validators have to restake through EigenLayer protocol, and can choose to secure Omni Network.
Bware Labs' Expansion towards ETH restaking
As more projects, like Omni, lean towards securing their networks with $ETH, Bware Labs has strategically planned to expand towards restaking.
What’s next for Omni and Bware Labs?
In June, Omni will launch its testnet integrating Ethereum L1 and EVM-based L2s, while Bware Labs is set to introduce INFRA: the token and incentive mechanism for Blast API.
The Omni Network is a layer 1 blockchain built to connect all rollups. Using Omni, developers can build global applications that are available across all rollups. Secured through restaking $ETH, Omni is next generation blockchain leading the frontier in both security and functionality.
Omni is backed by $18M from prominent investors such as Pantera Capital, Two Sigma Ventures and Jump Crypto.