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OMEGA aims to be the world's first decentralized platform for distributed, composable web services, workers and other programmatic agents.

Decentralization

With maximum decentralization using a PoW/PoS hybrid, along with the possibility of introducing more algorithms, the Omega Network stands for ultimate masternode valuation in terms of finance and voting rights. Charging through three stages of network development, the Omega Network will evolve into a powerful development platform, employing its decentralized capacities to allow deployment of sophisticated decentralized applications.

Staking

Staking is a critical concept used for strengthening the system and preparing it for full-featured governance, which will allow individuals who support the network to have a say directly in its future development. Meanwhile, bootstrapping the network using an ASIC-resistant PoW hashing algorithm will lower the barrier of entry for those who are curious about the project's potential or who do not have access to crypto markets.

Governance

Decentralization will allow the realization of both meaningful governance by those operating masternodes as well as a resilient and performant platform where web services, workers, oracles and other agents can be assembled into high-availability, high-quality distributed applications.


Specifications

Max Coin Supply (PoW phase)

20 Million OMEGA

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Algorithm:

X11

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Difficulty Retargeting

Every 10 minutes

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Max Coin Supply (PoS Phase)

Infinite

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Block Time:

60 seconds

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Initial Supply

580,000 OMEGA

Reward Distribution



Block Height Reward Notes Duration
1 580,000 OMEGA Initial Supply 0 Days
1-100000 10-195 OMEGA Open Mining Gradually incrementing to prevent instamining
100001+ 195-10 OMEGA Open Mining Gradually decreasing to smooth PoS transition

PoW Rewards Breakdown



Block Height Masternodes Miner Budget
2-33000 80% (156 OMEGA) 20% (39 OMEGA) N/A
33001-66000 50% (97.5 OMEGA) 40% (78 OMEGA) 10% (19.5 OMEGA)
66001-100000 30% (58.6 OMEGA) 60% (117 OMEGA) 10% (19.5 OMEGA)

For those interested in running an OMEGA Network Masternode, please see this guide.






For those interested in mining OMEGA coin, please choose your favorite pool.

Madpool.xyz
arcpool.com
antminepool.com
miningpower.net
yiimp.gos.cx


Roadmap


2018 : Incentive Stage

The incentive stage will see the launch of the Omega wallet. The purpose of this stage will be to incentivize aspiring masternode owners/operators to provide their services to the system.

We want to ensure that not only crypto investors but potential users of the system (both developers and consumers of developers' services) will be able to gain entry into the ecosystem via mining.

During this period we will also utilize project-held funds to ensure that the value proposition of operating a masternode remains attractive.


2019: Governance Stage

In this stage, updates to the core wallet will be made to allow masternode operators to vote to affect the future of the network.

Subsequent to this, the application of upgrades affecting consensus rules or adding new features will be dependant upon the approval of masternode operators. This means features like adjustments to the staking rules, masternode qualifications and coin supply will be up to the community.


2020: Stress-Testing Platform

During the final stage, the team will implement the final building blocks necessary to make Omega into a powerful and accessible development platform.

Utilizing cutting edge research in distributed systems, consensus and secure multi-party computation, tools will be released enabling developers to deploy applications across the network where computing power can be exchanged for Omega tokens, and Omega tokens can be exchanged for services.

Imagine being able to use Omega to test your multi-region, highly complex web application's network topology just by sending some Omega to an address along with a list of parameters. Oracles, content-delivery networks, APIs - Omega will be able to do it all.


Our official wallets have been release on github. Currently for Windows and Linux and OSX.