OMNIA’s Blog
Blog
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Phishing Attacks: How to Safeguard Your Crypto and NFTs Against Them.
3 min read 2022 is a big year for hackers and scammers targeting the crypto community and various DeFi projects. It is estimated that $2 billion has been stolen in DeFi hacks in the first half of 2022. If the current pace of theft in the crypto-verse through hacks continues, the total stolen by the end of…
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EU Legislators Have Agreed on Two Landmark Crypto Bills. Here is What We Know So Far.
3 min read Yesterday, June 30th, was a significant day for crypto as EU legislators belonging to its three governing bodies sat down to finalize the fine details of two proposed bills that would regulate the crypto industry within the region: the Markets in Crypto Assets (MiCA) bill and the Transfer of Funds Regulation (TFR)…
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Centralization Issues Affecting Blockchain Technology — Part 2.
4 min read In our first installment exploring the centralization issues affecting the blockchain industry, we highlighted the challenges of having truly decentralized infrastructures when running the various networks. The OMNIA team pointed out that most nodes on the Ethereum Network are run through centralized cloud computing services, with Amazon Web Services (AWS) handling nearly 25% of…
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A Brief Analysis of the 4-year Bitcoin Halving Cycle.
4 min read It has been a rollercoaster ride in the Bitcoin markets for the last few months after BTC hit an all-time high of $69k in early November 2021, only to dip by 74.4% to a local low of $17,600 in mid-June 2022. Anyone who got into the crypto-verse in 2021 is undoubtedly wondering…
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Crypto Regulations are Necessary But Might Stifle Innovation
4 min read The emergence of smart contracts spearheaded by Ethereum kicked off a new era of blockchain technology which opened the eyes of developers and innovators who sought to create a whole new future of finance on the web. Such self-executing code opened the doors to transferring traditional financial instruments and services onto the…
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Compliant Privacy — Simple Explainer.
6 min read Internet users have a right to have their data handled appropriately and according to the various global privacy and security laws. Jurisdictions such as the EU have gone as far as requiring internet-based companies to inform their consumers on how their data is being used immediately they visit their website or transact on their…
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EU’s Proposal on the Non-Custodial Wallets. What Does it Mean?
5 min read Cryptocurrency transactions are unique because anyone can send funds over the blockchain without declaring additional personal information such as your name, home address, phone number, or the purpose of your transaction. The ease and almost anonymous nature of transactions on the blockchain have raised concerns from global regulators. They fear criminals can…
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Web3 Security — Lessons Learned
8 min read Hackers and scammers have found Web3 to be an ideal arena for their nefarious plots of stealing cryptocurrencies and digital assets such as NFTs from unsuspecting users. According to a recent report by the team at Chainalysis, digital thieves stole $3.2 billion worth of cryptocurrency in 2021. In addition, 2022 is perhaps playing…
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Are gas fees a Barrier to Mainstream Blockchain Adoption?
6 min read Blockchain network transaction fees are designed to operate using the traditional supply and demand theory. More so for proof-of-work blockchains such as Bitcoin, Ethereum, Ethereum Classic, and Litecoin. The more crypto users transact on the respective blockchains, the higher the transaction fees since users rush to attract the attention of miners who…
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AMA Recap: OMNIA Protocol & Crypto Stalkers
7 min read Last week, on 06 of May 2022, we organized an AMA session with the Crypto Stalkers community. Here is the AMA transcript: Navi: Hello @alphacristi Welcome to Crypto Stalkers 👀 Cristian | OMNIA Protocol: Hello everyoneHappy to be here today 🙂 Navi: 👋Glad to host you here today! 😃Should we start with our AMA…
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Software vs. Hardware 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. However, the internet and the launch of Bitcoin in 2009 and Ethereum in 2015…
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Increasing Web3 Adoption
5 min read The concept of Web3, its adoption rate, and what the future holds has been the subject of discussion by the mainstream media, analysts, and internet community members for close to a decade now. But before diving deep into the topic of Web3 adoption, it is worth digging into the history of the…