OmniCoin is the digital currency of the OmniBazaar marketplace. People use Bitcoins and OmniCoins to buy and sell goods and services in the OmniBazaar marketplace. The value of OmniCoins “fl oats” freely compared to other currencies, and the value of OmniCoins is be based on the value of the goods and services they can buy in the marketplace.
OmniCoin is simple and secure to use. Transaction processing takes seconds instead of minutes, so OmniCoin is business-friendly. Transaction processing uses relatively little computing power, so OmniCoin is eco-friendly. And, with OmniCoin, you can do transactions using an account name instead of a string of numbers. This makes OmniCoin user-friendly.
During the initial phase of OmniBazaar and OmniCoin, we are giving away OmniCoins to users when they join, when they refer their friends, and when they do transactions in the marketplace.