- ONINO project works on the Dual Chain Architecture.
- The ONINO Ecosystem has been designed with an aim to provide a simple solution to solve web3 problems for users and developers.
The team at ONINO announced the release of a new product that can help solve many blockchain-based systems problems and build a whole new kind of decentralized application. ONINO team is continuously working towards becoming the solution for the on-chain identity and assets.
Two core products have been designed for users and developers by ONINO. It includes the following –
- The ONINO Blockchain
This product is a layer-1 dual chain that will allow the secure encrypted storage of real-world identity data and act as a platform for a lively ecosystem of use cases – produced by both ONINO and dApp developers worldwide.
- The ONINO Wallet
This product is a clear dashboard that lets users manage their assets scattered across different networks and connects their real-world identities to their digital possessions. The wallet has been created to ensure that it’s user-friendly as far as possible to make the blockchain accessible to everyone across the world.
Dual Chain Architecture
The so-called dual chain architecture is the core technology on which the ONINO project is working. The architecture includes two blockchains linked with each other:
- A Proof-of-Stake-based public main blockchain designed for transaction processing.
- An encrypted side blockchain for secure data storage.
These properties ensure safe and decentralized storage of real-world identity data. It also gives users complete control of their data.
The ONINO Ecosystem
The platform is specially designed for users and developers to provide the simplest solution for solving web3 problems. It can also lay the foundation for use cases that were earlier considered impossible in the blockchain space.
Using ONINO’s core technology, developers and companies can quickly implement new identity-based dApps, thus building a developing ecosystem of layer-2 solutions.
Users can keep a variety of confidential data on-chain without disclosing it to other network users. When dApps seek information from a wallet, they cannot access it unless the user grants permission. This will enable unprecedented levels of data protection and give consumers complete control over their data.
The ONI Token
As the native utility token of the ecosystem, the ONI token is used to fuel the transaction required to write to or read from the ONINO blockchain. This provides utility by enabling users to use the numerous future layer-2 dApps.
AT first, the ONI token was launched as a Smart Chain Token that helps build a strong community during the development phase. After completing the development of the layer-1 dual chain, the token will be moved to the new native chain.
The transaction fees received by the native ONI token will be used to fund staking and liquidity mining. It will also be used to sponsor the development of new layer-2 projects.
The ONINO Roadmap
The last quarter of 2022 will mark the launch of the first version of the ONINO wallet. The team is also planning to launch the native Layer – 1 blockchain by the end of 2023 to accommodate the complexity involved in developing a dual layer-1.
ONINO is planning to team up with various companies in the B2C and B2B sectors to develop use cases related to real-world utility.