Omni Network launches 'Core' mainnet to unify Ethereum's fragmented rollup ecosystem
2024-12-19 11:02:27 Primitive Reading

 

From theblock by Daniel Kuhn

Ethereum ETH -4.70% scaling solution Omni Network launched its Omni Core mainnet on Tuesday, according to an announcement. The system will serve as the “base layer” of the Omni Orderflow Engine, which seeks to unify the fragmented Ethereum Layer 2 ecosystem.

“The proliferation of Ethereum rollups has caused $58 billion in TVL to be scattered across more than 40 networks, creating significant challenges for users and developers alike,” the team wrote in a statement. “Omni is built to reunite the ecosystem, empowering users and developers to seamlessly interact with Ethereum as if it were a single unified chain.”

Omni, not to be confused with the Bitcoin secondary layer of the same name, represents an early experiment unlocked by the emerging world of “restaking.” Restaking is the process of reusing staked assets like ETH to simultaneously secure multiple blockchain networks and applications, theoretically stretching the value of proof-of-stake networks and supporting a host of novel applications. 

Introduced primarily through the experimental EigenLayer protocol, restaking has become one of Ethereum's hottest and most promising research areas. However, to date, few applications have taken advantage of the supposed benefits unlocked by this advanced security measure.  

In particular, Omni was launched in 2023 to improve cross-chain interoperability between Ethereum’s diverse L2 landscape. While Layer 2s are helping to drive down transaction costs, developing their own cultures and providing various technological solutions that are better suited for particular applications, the variegated ecosystem fragments liquidity and Ethereum’s total user base.

“Fragmentation has limited the true potential of Ethereum. Liquidity is spread thin, and users face unnecessary friction just to move between rollups,” Chief Technology Officer Tyler Tarsi said in a statement.

Omni Core comprises a cross-chain messaging protocol and a bespoke EVM that aims to “abstract away” cross-rollup interactions, making the ecosystem seem unified and providing “seamless user experiences.” Together with Omni’s SolverNet, which will be updated soon, Core serves as half of the Orderflow Engine, which is designed to validate transactions and shuffle information between chains. 

Disclaimer: This specification is preliminary and is subject to change at any time without notice. Amazon Finance assumes no responsibility for any errors contained herein.

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