Hi, here we go with the second day of our countdown to the Omnifeather activation.
If you watched the video introducing Omnifeather you have probably understood the main concepts but it might still sounds a bit abstract.
It is not you, blockchain technology is not easy to understand especially because it is usually about technology than pure business applications.
With Omnifeather, we start speaking about business application and this is the reason why with speak about the layer 2.
So what about those layers?
Please see here below a simple schema.
- Layer 1 is the feathercoin blockchain (itself supported by the full internet layer). Thanks to its several nodes and miners, blocks are created every minutes since 2013. Each block contains information about a) the network status and b) the transactions performed during the interval between the blocks. This layer is therefore mainly use to store and transfer coins.
- Layer 2 is Omnifeather. Omnifeather is using some block free space to enable new operations and new functionalities: creation of token and a decentralized exchange for those tokens. Decentralized exchange means that someone can offer some tokens for sale at a certain price and another person can buy those token without the intervention of a third-party exchange.
- Layer 3 are the business applications. We speak about user-friendly apps or websites providing services to customers whereby technical knowledge is not required. Here we found business cases for Investments, Payments, Tangible assets or Internet of Things.
As of 9th December 2020, Omnifeather, the second layer will be activated. It means that the technology will be available for any project who want to build a layer 3 application.
I will present you some precise example in another article.
Back to the original question. Why it matters for Feathercoin?
In fact, all the tokens / assets created on Omnifeather will be available for sale with Feathercoin. It means that any user / investor of an application will need Feathercoin to purchase the service.
Therefore, it will, time after time increase the demand for Feathercoin. And when the demand increase, the price increase.
When the price increase, the value of the network increase, it raises attention and the snowball effect will push it very high.
People will recognize the true value of Feathercoin as an alternative to Bitcoin and the eco-system will grow significantly.
You may ask about the first project running on Omnifeather!
And it is true, the more difficult will be to get a “first” important project running on it.
We believe on that and we already have a secret weapon. A new generation of token will be supported by Omnifeather in the coming months.
So, if you don’t have Feathercoin, it might be still a great opportunity to buy some.
See you at the top.