Omni receives funding from Tether to support new version development, will allow users to buy Bitcoin using any on-chain asset

According to Cointelegraph, Tether has provided funding for the development of a new version of the Bitcoin software layer, Omni.

omni-layer

According to a December 15 press release, the company announced the release of Omni Core 0.7.0, a development sponsored by Tether. The new version improves network performance and fixes locking issues and remote procedure calls.

The Omni protocol is a system that runs on the Bitcoin network and can create tokens. Tether issues USDT on the Omni layer. The official website explains:

Omni Core is an enhanced version of Bitcoin Core that provides advanced Omni Layer features and all the features of Bitcoin.

Omni-based decentralized exchange

More interestingly, Omni Core 0.7.0 supports the establishment of a centralized exchange on the blockchain. The new version of the Omni protocol allows users to purchase Bitcoin using any on-chain asset. Tether Chief Technology Officer Paolo Ardoino said:

Bitcoin is the first blockchain used by Tether. Therefore, Omni Core, which has good security, is highly valued. It must be noted that Tether is supported by different blockchains, and Omni is an important component.

In March of this year, Tether issued USDT on the Tron blockchain. By the end of October, nearly 12% of the USDT supply had been transferred to the blockchain. In July, Tether announced the launch of USDT on the fifth blockchain, Algorand.