Omnia Protocol: Privacy-focused infrastructure providing untraceable access to blockchain
Source: Omnia Website
Omnia Protocol is a decentralized infrastructure protocol for securely accessing the blockchain, so that no single point of failure will ever disrupt blockchain applications or wallets integrating with it. At the same time, it allows anyone to earn rewards by hosting and maintaining a node on a specific blockchain.
Currently, in order to access a dApp or content on the blockchain, a local node or node provider is needed. Requests to these node providers can be tracked and monitored due to its centralized nature, therefore your data, privacy, and security are at risk every time you access the blockchain
Omnia’s infrastructure consists of blockchain nodes and privacy relayers which act as decentralized API gateways for accessing the blockchain. Node owners can register their nodes through a simple-to-use web interface provided by Omnia. Consequently, these nodes are indexed by the relayers who leverage mixnets to protect privacy. Users of Omnia can customize their own subscription plan, depending on their blockchain request rate needs. As a result, users receive access to secure RPC endpoints for any of the blockchain networks that they support.
With Omnia, the power of decentralization works hand in hand with privacy to provide an unmatched node provider service. Your privacy belongs to you and therefore your security is a critical aspect of the process. There is no monitoring of blockchain requests and a unique obfuscation of traffic to ensure your privacy. It is compatible with Ethereum, Bitcoin, Binance Smart Chain and many other chains will soon be added.
Source: Omnia Website
The purpose of the Omnia Protocol is two-fold. Not only can Omnia generate secure endpoints for you to use in your wallet or application when accessing the blockchain, thus maintaining privacy, the protocol also rewards node owners for sharing their resources by running either blockchain nodes and/or privacy relayers.
Omnia provides incentives to two groups of users according to the type of software that they run:
(1) Blockchain nodes already running and maintaining networks such as Ethereum, Bitcoin, Binance Smart Chain, etc.
The blockchain nodes should belong to the community in the same profitable manner in which enterprise node providers run thousands of nodes. The main advantage is that when more people are incentivized to run nodes, the more decentralized and healthy the blockchain network will become.
As long as you have a node running, you can add your node to Omnia through a simple web interface, which requires the following information: the URL/IP of the node, credentials (if any) to access it, an availability offer (ex. 99.99%) and the performance quota. The performance quota is measured in requests per second (RPS). The higher the performance, the bigger the reward will be.
To join the Omnia network, node providers must stake Omnia tokens. They should also commit to the performance metrics they defined. If their performance does not consistently match the pledged number, the rewards will decrease. Furthermore, in extreme conditions where Omnia detects malicious behaviors against the network’s benefit, users will get removed and lose the staked tokens.
(2) The privacy relayers which help mix and obfuscate traffic to preserve privacy
Anyone can host privacy relayers and easily earn rewards. All you need to do is to download and run an application from Omnia, which will set up a privacy relayer. At the same time, you’ll have to stake OMNIA tokens to join the network, similar to what node providers have to do. As the number of users adds up, the number of Omnia privacy relayers will also grow, creating a larger mesh in the long run.
In essence, the privacy relayers network should obfuscate the traffic to the blockchain nodes, thus protecting the user’s privacy, applications, and wallets in the process. Furthermore, the bigger the pool of relayers, the harder it is for rogue parties to interfere with our network. Similarly, staked $OMNIA tokens will be slashed if users defy the agreed protocol.
The $OMNIA token will be used to power all the transactions in the Omnia ecosystem. All clients who wish to use Omnia’s services will pay in $OMNIA, with a tier-based fee reduction system for token holders. The token is also deflationary as ⅓ of all request fees collected will be burned. All rewards and incentives will be paid in $OMNIA.
Stay close to their official channels below as they are ready to launch in Q2 2022, both with the official token launch and the protocol itself with staking and rewards for node providers and privacy relayers!