The Development of Computing and Wallets in the Web3 World

The emergence of smart contracts has ignited the spark for building a world computer, giving rise to a large number of emerging DApps. From trading and lending to games and NFTs, the security of blockchain and the convenience of smart contracts have made on-chain development unprecedentedly simple, and different DApps can also be combined through smart contracts.

According to incomplete statistics, as of August 2022, the total number of DApps on various public chains has exceeded 4,000, and is still rapidly growing at a rate of dozens per month.

An address is the basic unit for user interaction with smart contracts. On-chain addresses can be completely anonymous, without the need for KYC, and users can create multiple addresses. Having an on-chain address means truly entering the world of crypto. According to official Ethereum data, as of August 2022, the cumulative number of addresses has surpassed 200 million, with a daily trading volume exceeding 1 million transactions.

Blockchain and smart contracts empower users to truly control their own data and assets, which is a core feature of Web3, and management tools are wallets. Wallets can be seen as the gateway to the Web3 world, pointing to all on-chain asset and data-related operations, including buying, holding, transferring cryptocurrencies, as well as derivative operations like staking.

Historically, wallets can be divided into types such as paper wallets, brain wallets, hardware wallets, and software wallets. For most DeFi, NFT, and gaming users, software wallets are the most commonly used solution. For example, the most popular software wallet has over 30 million monthly active users, and users receive a mnemonic phrase composed of 12 or 24 ordered English words after installation, which is used to recover and migrate accounts.

For new users, properly safeguarding the mnemonic phrase is the top priority. One of the costs of decentralization is that users must be responsible for their own accounts, with no central authority to "recover the password." Once the mnemonic phrase is in the hands of others, the user's Wallet is essentially given away. After becoming familiar with Wallet security practices, users can enter the vast world of Web3. Among many software Wallets, how do we define a "good" Wallet? We can seek answers from the current trends in the crypto world.

The Rise of Multi-Chain: From Monopoly to One Super and Many Strong

The DeFi boom in 2020 and the rise of GameFi in 2021 attracted a large amount of funds to the blockchain. Ethereum sacrificed speed to ensure decentralization and security, and the surge in computational demand led to high transaction fees, making the cost of small transactions unbearable. To reduce costs and improve speed, multiple public chains have rapidly emerged, changing the landscape where Ethereum dominated.

From Ethereum L2 solutions like Polygon to exchange-led public chains like BNB Chain and Solana, and then to EVM-compatible networks like Fantom and Avalanche. Although many innovative DApps were initially born on Ethereum, EVM facilitates migration. Recent data shows that the top five public chains by seven-day active address count are BNB Chain, Ethereum, Polygon, Ronin, and Avalanche, with BNB Chain having 2.94 million active addresses due to its game-friendliness.

In terms of the total locked value ( TVL ) in DeFi, Ethereum still occupies a significant portion, but this share is gradually declining. A pattern of one strong and multiple competitors has formed, and users hope to conveniently manage multi-chain assets and achieve cross-chain operations.

Staking Becomes Mainstream: From POW to POS

The POW mechanism of Bitcoin has long been questioned for its resource waste. To address this issue, POS was innovatively proposed and quickly became the mainstream of new public chains. Ethereum will also complete its transition to POS(ETH 2.0) in September 2022. Ordinary users can participate in small stakes through DPOS or SaaS platforms without needing to become large validators.

Staking is becoming a convenient way for users to enter the new POS public chain. By participating in staking, users not only ensure the secure operation of the blockchain but also receive rewards. Therefore, the security and experience of staking are important considerations for users when choosing a new POS public chain.

One-stop entrance: Follow the rapid development of Web3

DeFi is just one application scenario of Web3. DAO, games, the metaverse, and more unimaginable scenarios will form the future blueprint of Web3. The speed of Web3's development is astonishing, continuously emerging with exciting knowledge, technology, and demand.

In the Web3 era, various third-party account logins will be replaced by wallet logins. Wallets are the primary gateway to the Web3 world. In the rapidly evolving Web3 industry, users need a one-stop wallet that allows them to directly explore and use DApps.

Omni: Build a One-Stop Super Application for Web3

The Omni Wallet meets users' needs for a seamless experience across multiple chains, convenient staking channels, and Web3 exploration, while also featuring a beautiful UI interface. Omni supports basic functions such as fiat deposits for mainstream wallets, wallet imports, hardware wallet connections, and asset price displays.

Omni has the following features compared to mainstream Wallets:

• Supports multiple public chains, both EVM and non-EVM.
• Support hardware wallet connection
• NFT display and background settings
• Support fiat currency for purchasing coins
• Native Staking Function
• Integrated DApp browser, news, and market aggregation

Multi-chain Asset Management

Users can create a new Wallet or import an existing Wallet, and can also connect a hardware Wallet to ensure the offline security of private keys. Omni supports over 25 public chains, including EVM, non-EVM, and L2. It supports multi-chain NFT display, allowing users to set their favorite NFTs as the home screen background.

Omni natively supports cross-chain asset conversion, including conversions between different EVMs and non-EVMs. It offers price tracking for various cryptocurrencies, covering native assets, staking tokens, and Yearn vaults, among others. Users can perform various operations directly from the homepage.

Convenient Staking and Yield Optimization

Omni is known for its "three-point staking" feature, which greatly simplifies the staking process. Users can complete staking directly within the Wallet without needing to access other protocols. It supports staking for over 15 public chain assets and allows for regular investments through multiple service providers.

Omni natively supports Yearn vaults, allowing users to easily access yield-optimized strategies and earn returns directly without leaving their wallet.

Explore the Web3 World

The Omni exploration page provides users with a window to understand different ecosystems, including the latest updates, news, native integrations, and various DApps.

The exploration page is divided into:

• Overview: Latest updates, weekly topics, news, and popular DApps collection
• Ecosystem: Latest updates on various ecosystems, native integrations, and top DApps categorized by industry

Omni has created a comprehensive Wallet for users that integrates asset management, convenient staking, and Web3 exploration, aiming to be the ideal entry point for users into the Web3 world.