This content originally appeared on DEV Community and was authored by Muhdsodiq Bolarinwa
What Is Omchain Blockchain?
Omchain is a layer 1 blockchain which is EVM compatible provides a decentralized, secure, high-capacity blockchain infrastructure, and promotes transparency. It facilitates low transaction fees and side-chain integrations enable highly scalable blockchain infrastructure for enterprise-grade needs.
Omchain enables secure and seamless communication such as transferring assets between other EVM blockchains and bridging assets such as Ethereum, polygon, and Avalanche without technical expertise. They support individuals, business owners, and organizations willing to bring their solutions to on-chain.
Omchain adopts proof of authority mechanism. It has the capability of smoothly processing 2000 transactions per block, which produces a block every 2 seconds, rendering over 15 million block per year. Omchain is super fast which is ideal for NFTs, Defi, because it can pull off up to 1000 transactions per second. Omchain has a fixed transaction processing fee for larger transactions which makes it suitable for economical usage.
OMC is designed as a token for gas fees for the _Omchaim _network. OMC token total supply is pegged at 250 million tokens. OMC can be bridged to other EVM networks such as Ethereum(ETH), Binance Smart Chain (BSC), Polygon (MATIC), and Avalanche (AVAX). OMC token transaction gas fees are burned permanently which helps in deflationary token economy.
Omchain blockchain Lab known as Omchain Labs serves as an educational platform for people who are looking forward to delving into Omchain blockchain. They connect the gap between relevant parties who are bridging their business solution to Omchain and provide substantial solutions and support for Omchain blockchain-backed projects. This promotes an entrepreneurial atmosphere with issues that align with the company's web3 support.
Omchain provides advanced features such as smart contracts, decentralized applications (DApps), and token contracts. Smart Contracts are self-executing digital contracts stored on blockchain which are executed when certain conditions are met. Developers have the opportunity to write and customize their smart contracts for different purposes such as NFT, DEFI, DAO, Social-fi, and automated tasks.
In conclusion, Omchain offers a robust innovation offered by blockchain and provides high performance, cross-chain compatibility, and efficient security. This is supported by and improved by the Omchain Foundation.
This content originally appeared on DEV Community and was authored by Muhdsodiq Bolarinwa
Muhdsodiq Bolarinwa | Sciencx (2024-08-06T22:07:55+00:00) Omchain: Why Build Scalable DApps on Omchain’s Robust Platform. Retrieved from https://www.scien.cx/2024/08/06/omchain-why-build-scalable-dapps-on-omchains-robust-platform/
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