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OMAX to Launch Mainnet on August 19th, 2022

The launch will see the OMAX network take its first steps towards building a better financial future.

What is OMAX:

OMAX COIN facilitates transactions and brings them closer to a wider audience. An added benefit of OMAX COIN  is that it’s completely decentralized, so trading can be done freely across borders. The use of technology will facilitate a financial revolution that will leave everyone more financially connected, empowered, and enabled. 

OMAX COIN has no border and can be used no matter where you are located globally. This also has a huge effect on international payment fees. Traditionally international transfers have much higher fees than domestic transfers and payments. International payments and transfers with crypto are the same as domestic.

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How it Started

OMAX started its journey in October 2021 as the Omax token, with a vision to make its blockchain a complete ecosystem with Dapps and E-commerce utility. OMAX Chain relies on a system of PoS consensus that can support short block times and lower fees. 

The OMAX consensus protocol is designed to achieve the following objectives based on the aforementioned design principles: blocking time should be competitive compared to existing blockchain networks, i.e. 10 seconds or less. 

It takes a short amount of time to certify the finality of transactions, typically 1 minute or less. The block reward is collected through transaction fees and will be paid in OMAX. It will be compatible with EVM systems when feasible and enables the governance of contemporary proof-of-stake blockchain networks

Redefining Investment Culture

The traditional way of investing involves detailed analytics, pattern recognition, and constant risk tolerance. OMAX COIN digital removes the need for critical thinking and having to make sophisticated decisions. Instead, the project seeks to improve upon its ideas with a hybrid approach to Innovation.

Security

Safety, security, and trustworthiness are top priorities for OMAX. The many benefits that blockchain and smart contracts bring make it harder to go back to solutions that often failed. The project thrives on cutting-edge secured technology solutions.

Wealth Reimagined

OMAX believes in bridging the relationship between what investors need and the distance they are from it. The OMAX team entered the blockchain network to offer better opportunities starting with the OMAX COIN .

Less Risk, More Reward

Earn rewards by staking and becoming a validator. Validators are rewarded with the fees earned from each block's transactions to encourage more staking.

OMAX will be launching their own blockchain on the mainnet on August 19th. The OMAX team believes there has never been a better time to join the 20,000 strong members on Telegram and the 30,000+ holders of the OMAX BEP-20 token on BNB Chain.

Speed, security and scalability are three things that the team at OMAX have been diligently forming and testing since they began developing the OMAX blockchain in early 2022. It tries to be as compatible with the EVM system as possible and enables the governance of contemporary proof-of-stake blockchain networks.

Chain Solutions

OMAX is also working on chain solutions for Dapps with EVM compatibility. In order to simplify launching Dapps and projects  on the OMAX chain, a lot of features are being introduced. 

The OMAX blockchain and subsequent e-commerce integration using OMAX Pay is going to combine all of these opportunities into a once in a lifetime opportunity, according to the team. You will have your own cryptocurrency balance that will be able to be used at any merchants on their e-commerce platform.

By integrating the blockchain into popular e-commerce and shopping cart platforms, OMAX aims to grant users the ability to easily complete their everyday purchases using their crypto currency balances. OMAX Pay is a payment service that lets you pay in and/or receive cryptocurrency anywhere on an e- commerce platform, and develop a widget that would be integrated with their website and provide payment solutions anytime.

The global ecommerce market is expected to total $5.55 trillion in 2022. The project aims to get a slice of the pie with e-commerce payment utility solutions as its main aim.

 This product is powered by OMAX based on its native blockchain solution. OMAX COIN has chosen to be compatible with the existing EVM protocols in order to take advantage of the developed apps and community still building a secure and reliable network. OMAX COIN will provide native cross-chain communication functionality between blockchains. 

OMAX is set to launch its mainnet phase on August 19th, 2022. The objective is to make it a user and business-friendly smart contract model easily deployable on E-commerce platforms and a secure network. It will enable users to launch their Dapps on a secure protocol. 

The slow lagging of PoW protocols’ smart contracts or instability caused in recent crypto networks due to excessive duplicate transactions and its network congestion which hindered the effectiveness of the protocol, and they don’t seem to be going away anytime soon. Therefore, OMAX proposes a solution to overcome the ongoing issues of PoW by providing a reliable network named OMAX CHAIN (OMX20), which is also EVM compatible.

OMAX has been forming and testing the following three main features since the team began developing the OMAX blockchain in late 2021.

1. Speed: Claiming to have the highest rate of transactions per second (TPS) of any blockchain, currently OMAX is topping off at 125k TPS in the testnet phase of the blockchain development.

2. Security: The company thrives on the cutting-edge of secured technology solutions.

3. Scalability: Proof of Stake protocols, as shown by OMAX COIN transaction outputs and lower fees, generate greater scalability.

What’s Next

In the future, a Consensus covenant via upgradable contracts as per business and market requirements can be deployed to deal with emerging technology or competition. The initial Validator Set will consist of 21 trusted nodes in the genesis stage. After the block stage has begun, anyone can compete to become a validator candidate. Consequently, the OMAX consensus protocol is designed to achieve the following objectives based on the design principles: 

1. Blocking time should be competitive compared to the existing blockchain network, i.e., 10 seconds or less. 

2. It takes a short time to certify the finality of transactions, such as 1 minute or less. 

3. The block reward is collected through transaction fees and will be paid in OMAX. 

Where to find OMAX:

Website | Telegram | Twitter | Instagram | Facebook | Github

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