The difference between omni and erc20

USDT is currently the most widely used stablecoin with the highest market value. It is issued by the centralized company Tether. Before April 17 this year, there were two different types of USDT on the market.

OMNI is a platform for creating and trading custom digital assets and currencies. (Recommended learning: PHP video tutorial)

It is a software layer built on the most popular, strictly audited, and safest Bitcoin. OMNI transactions are Bitcoin transactions that use next-generation features on the Bitcoin chain. Omni Core is an enhanced Bitcoin that provides all the features of Bitcoin plus some advanced features of Omni.

Using OMNI, it is easy to create tokens to represent custom currencies or assets and trade them with Bitcoin. OMNI offers the ability to create tokens efficiently and simply, making it the first choice for Bitcoin-based tokens. This relationship can be considered as making ETH to Token.

RC-20 was originally an attempt to provide a common standard for features and interfaces for token contracts on Ethereum. ERC-20 has many benefits, not only being compatible with many tokens, but also allowing wallets to display account balances for hundreds of different tokens; creating a trading tool that allows more tokens to be listed in the table simply by providing the address of the token contract .

USDT issued based on the Bitcoin network (issued based on the Omni protocol)

This USDT is stored on the Bitcoin address, so every transfer (on-chain transfer) When doing so, you need to pay a small amount of Bitcoin as a mining fee.

In addition to the fact that the transfer requires Bitcoin as a mining fee, every time a USDT transfer is initiated, a very small amount of Bitcoin transfer will be generated accordingly. Therefore, every time a Bitcoin-based USDT transfer is initiated, there must be at least 0.0002 Bitcoins in the wallet address to ensure that the transfer is successful. At the same time, when the payee receives a USDT transfer, it will also receive a minimum amount of Bitcoin transfer.

USDT based on Ethereum (issued based on ERC-20 protocol)

This USDT is stored on the Ethereum address. Correspondingly, each transfer (chain When transferring), Gas, that is, ETH, needs to be consumed.

Currently, most of the USDT on the market is based on Bitcoin, and the share of USDT based on Ethereum is very low (about 3%).

For large transfers, we recommend USDT from Bitcoin network Omini. The handling fee is expensive and a little slower, but it is the safest.

For medium amounts, choose ERC20 USDT, the handling fee is average, the speed is average, and the security is high

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