All you need to know about OMNIA’s Strengths & Opportunities
Most successful organizations look at internal and external factors affecting them to assess their current and future potential. Omnia Protocol has conducted such an analysis and is ready to share the results with its community.
This type of exercise is called a SWOT (strengths, weaknesses, opportunities, and threats) analysis. It’s designed to facilitate a fact-based and data-driven look at what is helping an organization or industry move forward and what’s holding it back.
Organizations performing this type of analysis can use it as a guide meant to help look at their performance, risks, competition, and the potential an organization has to make a difference. Overall, SWOT analysis is great to help guide future strategies.
OMNIA Protocol’s SWOT Analysis
With what a SWOT analysis is out of the way, let’s get into OMNIA Protocol’s SWOT analysis. Remember that OMNIA Protocol is a decentralized infrastructure protocol that helps prevent single points of failure by optimizing privacy and rewarding infrastructure providers.
Strengths
OMNIA Protocol’s biggest strength is its primary offering and value proposition. It offers users privacy and ensures node operators are rewarded for keeping blockchain performance as good as it can be.
This both means transactions made through OMNIA can remain cheap and settle quickly, and that users are guaranteed privacy and protected against a number of potential attacks. OMNIA Protocol has already implemented integrations such as private mempools, which protect users against frontrunning.
OMNIA Protocol’s offerings, including mixnets, private mempools, and incentives for node operators, are currently in a freemium model but can easily be moved into a payable format. On top of that, OMNIA Protocol is international, so there are no boundaries holding it back.
Last but not least, OMNIA has been accepted in the Scaleway Start-up Program — cloud computing program offering organizations access to Scaleway’s resources, expertise, and visibility. It can be seen as OMNIA’s first institutional partner when it comes to infrastructure.
Weaknesses
OMNIA Protocol would benefit from more institutional partners supporting its node resource pool. However, this weakness can soon turn into strength as we there have been in discussions with large miners pools.
On account of OMNIA’s freemium model, we are yet to generate any revenue. Over time every organization needs to create revenue sources in a bid to survive and keep its operations running. OMNIA’s revenue-generation strategies are being implemented.
Opportunities
Onboarding more nodes can further decentralize both existing blockchains and the OMNIA Protocol itself. It’s also important to bring awareness to people onboarded and to do so, OMNIA has reached out to developer influencers with significant communities.
Infrastructure providers are incredibly valuable partners. OMNIA can also onboard to further expand our node infrastructure. This also means we can be one of the first on the market, allowing people to join with a node.
Finally, a very significant opportunity for OMNIA is to allow people to stake $OMNIA and lock their tokens over a longer period of time. While they’re being rewarded for staking their tokens and supporting the protocol, they’re also temporarily removing tokens from circulation, reducing supply.
Threats
Bad markets conditions could potentially affect the token performance.
Encountering technical challenges that might delay a bit the roadmap.
About OMNIA Protocol
By foreseeing the state of the current blockchain application network, we have committed to preparing, researching, and applying our technical expertise to our latest project, OMNIA.
OMNIA Protocol is a decentralized infrastructure protocol for securely accessing the blockchain so that no single point of failure will ever disrupt blockchain applications or wallets integrating with it.
OMNIA’s solution is truly decentralized and requires zero technical knowledge. Therefore, all users can set up their nodes in little time and effort. Learn more about the technological marvel behind OMNIA by following our Medium or reading our whitepaper.
