Specifically, on December 15, Omni has publicly introduced a new version of its system – dubbed Omni Core 0.7.0 – which then received financial backing from Tether. The new version is reportedly designed to bring optimization to the network performance, solve the locking problems, along with Remote Procedure Calls.
The Omni protocol – which operates on the Bitcoin network – works as a tool that enables token development, on a generally considered secure network. Omni was also the hosting platform for the first USDT tokens.
“Omni Core is an enhanced Bitcoin Core that provides all the features of Bitcoin as well as advanced Omni Layer features.” Omni provided further details on how its system takes advantage of the Bitcoin blockchain.
Moreover, Omni Core 0.7.0 comes with the ability to support the creation of an on-chain decentralized exchange, consequently let clients conduct transactional activities between any on-chain asset and Bitcoin.
“As Bitcoin is the first blockchain that Tether used, Omni Core is highly valued and demonstrates good levels of security. […] It is important to note that Tether is underpinned by diversity in different blockchains, of which Omni Core has proven to be an important component.”