Are there even Omni servers? Isn’t the data just written in the BTC blockchain and free for all to read?
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So long as bitcoin keeps on going, it will as well. Maybe soft wallet support might get less supported, and certainly exchanges aren’t keen on it, but the chain can’t die unless BTC does.
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The Omni Layer is a protocol built on top of the Bitcoin blockchain. It allows the creation and management of digital assets through the use of Bitcoin’s blockchain. It functions by embedding additional data (metadata) into Bitcoin transactions, enabling the representation of other assets or tokens.
Through the Omni Layer, users can issue new tokens (often referred to as Omni tokens) that are tied to specific properties or assets. These tokens are created by sending a small amount of Bitcoin along with metadata defining the characteristics of the new token. This metadata includes information like the token’s name, total supply, divisibility, and other features.
These tokens can represent various assets beyond just cryptocurrencies, such as digital collectibles, reward points, or even real-world assets like commodities, stocks, or property rights.
Transactions involving Omni tokens are recorded on the Bitcoin blockchain, allowing for transparency and security. The protocol supports the transfer, trading, and redemption of these tokens, providing a layer of functionality beyond Bitcoin’s native currency.
However, as of my last update, the development and usage of the Omni Layer had decreased, with some projects migrating to other blockchain platforms due to scalability and cost issues associated with Bitcoin’s network.
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Haha - ChatGPT predicted the future in that last paragraph
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Absolutely!
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OP amended.
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Thx 4 the update Maidsafe devs
Great progress and nice to see the danieleades pr 
@peca 
for the testers 
Keep hacking super ants
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I don’t think ChatGPT actually answered your question. (typical)
As I understand it, both are true. Yes, the data is stored in the bitcoin blockchain. However, normal bitcoin clients don’t know how to read or write it. So there are Omni servers that read the entire blockchain and summarize (and write?) the omni-specific data for Omni wallet client nodes. It is a layer2 software ecosystem.
Thus, the current servers could be shutdown by their operators, but the software is open source and anyone (eg Maidsafe or any community member) could fire up an Omni node to recover the data and re-start Omni.
I may be missing some details, but I think that’s generally correct.
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How so when 95% of (e)MAID is still in the form of an OMNI token. Also the fact that all that 95% was not on any exchanges nor after more than a year was transferred to eMAID. Seems to me that most of that 95% will remain as a OMNI token unless forced to eMAID and we were all assured up and down in and out that people could hold their OMNI-MAID till launch.
It may, but as long as BTC remains the omni node can be created from the BTC blockchain. In fact as long as reliable copies of the BTC blockchain exist then the OMNI data is accessible and thus able to be used for exchange.
I can give a better guarantee than the one given for “no forcing to eMAID” that there will be a very large %age of OMNI-MAID never converted to eMAID even if we are going to be forced to convert. There is a lot of people out there just waiting for launch, maybe even forgotten about their MAID, or written it off, and when launch happens and the words gets out, they will come to have their OMNI-MAID exchanged to SNT.
Yes to both.
The OMNI protocol nodes use the BTC blockchain and add their database to it in order to speed up database access to the data held. The OMNI node can be rebuilt off the BTC blockchain
No its as long as reliable copies of the BTC database (blockchain) exists then OMNI MAID can be found and exchanged to SNT at the right time. Even signing of messages can still be done since that is a function of the private key, not transaction.
It will be impossible to get all or even [EDIT: 80% is too high] 60% of OMNI-MAID converted to eMAID, just human nature and what I said above. People were guaranteed that they would not be forced to move their MAID
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That is my understanding too
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It’s best to think not of what percentage or proportion of MAID need to be converted after launch, those numbers aren’t really so relevant, nor helpful.
The way to think of MAID is as an economic bridge into the Safe Network. We are striving to have as much accessibility and diversity of access to the services of the Network as possible. Not just for existing holders, but for new entrants in particular.
We did have, in addition to eMAID on UniSwap, a longstanding exchange relationship with Bittrex for Omni. If this persisted through launch, then it was a viable additional access point and on-ramp to the Network.
This shaped our planning for Omni conversion, as we strived to keep this bridge liquid and open during and after launch. That meant, for example, that a snaphot approach which entailed ceasing trading was off the table.
With the effective demise of Omni trading, that become reasonable and viable again.
And the options for how to tackle the swap to SNT from eMAID, while keeping trading going with that coin, are more plentiful as it’s a much more flexible protocol.
It is highly likely that the majority will stay as Omni MAID, and indeed a large proportion will never be converted. That’s fine, and not a problem at all. What matters is accessibility.
Nobody will be forced to swap to eMAID. It has many advantages for people prior to launch, but it will remain entirely optional.
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That reassuring that this is part of the plan. I agree that lack of trading of OMNI MAID will make snapshot of OMNI MAID easy. But also encourage those who want to trade or considering moving to eMAID to do so earlier than later.
I am all behind encouraging movement to eMAID. As you say it enables many possibilities for people obtaining MAID and onboarding to SNT.
The language used in the update suggested the forced conversion to (e)MAID even for those holding upto the time to exchange to SNT
This is the statement needed and welcomed by many I am sure.
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Many here will not want to convert to eMAID in order to avoid a potential yet unnecessary tax event
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I have move maid to omni wallet… I have to no worry because exchange price will dump after the launch because everyone will sell the coin or exchange the coin and omniwallet user can exchange any time in safecoin right… exchange user will have snapshots works for limit time to cover their looses
After launch nobody will need to dump. People will just withdraw from an exchange & convert to SNT/Safecoin.
I expect price will pump after launch if people need MAID / eMAID to get SNT ahead of SNT exchange listings… and after SNT listings, arbitrage will keep the price of MAID / eMAID close to SNT’s price, assuming decent volumes.
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I think new supply will be not available only maid, emaid can we can buy this only to convert safecoin only farmed by network…
A post was merged into an existing topic: [
Action Required:zap:] Notice to all MaidSafeCoin ($MAID) holders
Thank you for the heavy work team MaidSafe! I add the translations in the first post 
Privacy. Security. Freedom
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