OMNIA’s Blog
Blog
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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…
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Blockchain Based Privacy Enhancing Technologies
< 1 minute As Web3 continues to evolve and develop, there is an urgent need to focus on privacy on the blockchain in a similar, if not a more advanced manner, than what is available for Web2. Web3 users want to control their privacy on the blockchain and choose when they reveal personal information, such…
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Blockchain Based Privacy Enhancing Technologies
4 min read As Web3 continues to evolve and develop, there is an urgent need to focus on privacy on the blockchain in a similar, if not a more advanced manner, than what is available for Web2. Web3 users want to control their privacy on the blockchain and choose when they reveal personal information, such…
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Software vs. Hardware crypto wallets
6 min read Two to three decades ago, the term wallet was synonymous with a leather pouch or bag that fits in the palm of your hand and pocket. Such a wallet was used to store physical money and identification documents. But the internet and the launch of Bitcoin in 2009 and Ethereum in 2015…
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Beginners guide to Web3
4 min read Web3, DAOs, NFTs, and countless technical terms are confusing, and we get it. We were exactly in the same position when we first encountered them. But with time, the complexity reduces as the experience grows due to interacting with the various digital assets, blockchain networks, and decentralized applications. Luckily, OMNIA’s team is…
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Comparing Ethereum’s Layer-2 Solutions: Polygon vs. Arbitrum vs. Optimism.
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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The Ethereum Virtual Machine (EVM): What is it and How Does it Work?
4 min read A simple machine is generally defined as a physical device that makes work easier by reducing the effort applied by its user. A computer falls under this category as it performs complex processes, calculations, and operations based on inputs provided by its user. It performs complicated tasks on their behalf. Similarly, a…
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How Crypto Regulation and Compliance Can be Done On-chain.
3 min read The future of blockchain and crypto is intertwined with complying with existing financial regulations, global sanctions against individual states and individuals, and laws that protect retail traders from malpractices such as frontrunning, insider trading, invasion of privacy, and use of personal data for all the wrong reasons. The EU has already passed…
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NFT Adoption by Institutions is On the Rise.
3 min read The concept of Non-Fungible Tokens (NFTs) became well known in the crypto-verse in late 2017 when CryptoKitties caused congestion on the Ethereum blockchain and increased its gas fees significantly. Since 2017, NFTs have slowly made their way into the mainstream, with digital collectibles belonging to notable projects, such as CryptoPunks, DeGods, and Bored Apes,…