What is an Ohm Fork?
An Ohm Fork is a type of hard fork, which is a permanent divergence in the blockchain that occurs when non-upgraded nodes can no longer validate blocks created by upgraded nodes. An Ohm Fork specifically refers to a type of hard fork initiated by the OmiseGo project, and it involves changes to their consensus protocol and network layer. The goal of this fork was to increase resilience against malicious actors on the network while improving scalability solutions for users.
When did the Ohm Fork Happen?
The Ohm Fork took place on June 25th 2020 at block height 9,772,859. This was preceded by an announcement made on May 20th 2020 about upcoming upgrades for OmiseGO’s public Ethereum mainnet node software (OMG Node).
What Changes were Included in the Ohm Fork?
The following are some of the major changes included in the OMG Network’s upgrade:
– Increased security through improved transaction finality times;
– Improved scalability solutions including Plasma MoreVP and Optimistic Rollups;
– A new validator election mechanism called Validator Manager Contract (VMC);
– Updated staking rewards structure with higher yields;
– Enhanced liquidity options with support for DEX integration layers like Uniswap V2;
– Support for additional token types such as ERC777 tokens.