OMNIA’s Blog
Blog
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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,…
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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…