OMNIA’s Blog
Blog
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Comparing Ethereum’s Layer-2 Solutions
4 min read The Ethereum network has a long history of congestion issues that have often led to high gas fees. The first and most popular incident dates back to December 2017, when Cryptokitties clogged the Ethereum network and caused it to grind to a halt. The event, although unfortunate, kick-started discussions on how to avoid…
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Solana Hack: What Actually Happened?
< 1 minute In early August, the Solana crypto community was rocked by what looked like an unsolvable hack that drained roughly $4.5 million in SOL from several thousand users’ wallets. An initial estimate by the team at MistTrack had identified 8,000 affected wallets with their funds being siphoned off to four addresses belonging to…
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The Ethereum Merge – What You Need to Know
4 min read The Ethereum network has undergone several upgrades since its launch in 2015. All the upgrades have had a single mission in unlocking Ethereum’s full potential, and the Merge event is no different. What is The Merge? As the name suggests, the Merge is the coming together of the current Ethereum mainnet (execution layer) with…
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Introducing CCSS – The Cryptocurrency Security Standard
3 min read In 1999, NASA lost a $125 million Mars orbiter because Lockheed Martin engineers used the English measurement system, whereas the NASA team used the metric system. The mismatch in units caused navigation errors leading to the loss of the said orbiter. Such an example highlights why implementing standards is essential in any industry, including…
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Doxing: What It Is and How to Prevent It
8 min read Navigating the internet without leaving bread crumbs of your presence is increasingly becoming difficult as our real-life identities are tied to our online ones. As a result, online privacy is vital as you do not want personal information in the hands of hackers, extortionists, and other malicious individuals. What is Doxing? You…
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Central Bank Digital Currencies (CBDC) – The End of Cash?
5 min read Crypto adoption, particularly of stablecoins, has brought to light real-life use cases of digital assets as a means of transferring value quickly and cheaply compared to the traditional financial system. Crypto holders can send Bitcoin, Ethereum, USDT, or USDC to their family and friends worldwide at a fraction of the cost and…
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13 Must-Have Tools For an Entrepreneur That Require no Coding
4 min read Starting a business for any entrepreneur is an arduous task that requires persistence, patience, and the right tools to help get things rolling in the right direction. A typical day for an entrepreneur involves responding to emails, tweaking website details, keeping in touch with networks, keeping an eye on social media, and…
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The Impact of Litecoin’s MimbleWimble Privacy Upgrade
3 min read On May 19th, 2022, Litecoin’s highly anticipated MimbleWimble upgrade was deployed on the LTC network at block 2,257,920. The upgrade, named after a tongue-tying spell from the Harry Potter series of books and movies, had been in discussion within the Litecoin community from as way back as 2016 when it was proposed by a…
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An End to the ‘Wild West’ of Unregulated Crypto
4 min read On June 30th, EU legislators from its Parliament, Commission, and Council reached a deal on the Markets in Crypto Assets bill (MiCA) and Transfer of Funds Regulation (TFR) bill. The two landmark bills marked the beginning of what many believe is the EU setting the pace for the rest of the world…
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Crypto Wallet Security: Features that Matter and Best Practices
5 min read 2022 has been a big year for crypto hackers. A recent report estimated that a total of $1.4 billion had been lost through attacks on cross-chain bridges since the year began. Another report gave a $2 billion approximation of the total crypto lost due to DeFi hacks in the first half of 2022. The attacks on…
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OMNIA on Tour
3 min read This week, the OMNIA team is in Toronto, Canada, to participate in the ETHToronto hackathon event. Held from August 8th to August 10th, ETHToronto brought together Ethereum developers and enthusiasts from around the world in the city where the project was first ideated by Vitalik Buterin back in 2014 and launched in 2015. Since then, Ethereum…
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Solana Wallet Hack. What happened?
3 min read Earlier this week, the Solana crypto community was rocked by what looked like an unsolvable hack that drained roughly $4.5 million in SOL from several thousand users’ wallets. An initial estimate by the team at MistTrack had identified 8,000 affected wallets with their funds being siphoned off to four addresses belonging to…