Tether, the blockchain-enabled platform that powers the largest stablecoin by market capitalization, and the Omni Layer, the primary open source fully-decentralized asset platform on the bitcoin blockchain, have unveiled the release of Omni Core 0.7.0 to further expand innovation on the bitcoin network.
The release of Omni Core 0.7.0, which has been finalized by Omni Core maintainer dexX7 and Peter Bushnell, the creator of Feathercoin, incorporates a variety of features to enhance the performance of the network, and enables the activation of an on-chain decentralized exchange. The release includes the integration of all Bitcoin Core 0.18.1 improvements into Omni Core.
“As bitcoin is the first blockchain that Tether used, Omni Core is highly valued and demonstrates good levels of security,” said Paolo Ardoino, CTO at Tether. “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.”
How Tether works with Omni core
Omni Core 0.7.0 is a major release and changes the code base of Omni Core from Bitcoin Core 0.13.2 to Bitcoin Core 0.18.1. Once consensus affecting features are enabled, this version is no longer compatible with previous versions. An upgrade from previous versions will be required. Omni Core 0.7.0 enhances its distributed exchange and supports trading of any asset or token for bitcoin. The latest version of Omni Core also fixes locking issues and Remote Procedure Calls (RPCs) for funding transactions as well as omni_listtransactions.
Release notes for the upgrade to Omni Core 0.7.0 are officially available on GitHub.
The benefits of further collaboration between Tether and Omni Core extend from the respective organisations to the digital asset space as a whole: the stablecoin’s team, in fact, decided to use the blockchain of Omni as the initial asset issuance platform in 2014 because of its capability and reliance on the security of the Bitcoin hashpower. The combined innovation enabled by Tether and Omni, according to the official press release, facilitates faster transactions and low fees together with the chance for them of increased collaborations.
In addition to Tether’s collaboration with Omni Core, Tether runs also on others blockchain such as Ethereum, EOS and Tron.