There is a popular cryptocurrency called OmiseGo (OMG), rising continuously and interesting many investors. What is really OmiseGo OMG?
Digital money enthusiasts or investors all over the world have recently shown great interest and love for OmiseGo. OmiseGo has made an extremely interesting goal of using the financial technology of Ethereum as a means of freeing the banking sector from the hands of banks. This exciting goal does not change the fact that it is actually an ambitious project.
OmiseGo is an infrastructure financial cryptocurrency with a decentralized structure and offering payment cards. OmiseGo is a company that designs a financial technology for use in virtual wallets. With this technology, users are able to shop and pay for themselves in real time. The goal of OmiseGo is to make a lethal impact on existing financial institutions and to manage everyone’s own financial structure. Additionally, from their own website, they say: “It is a technology which is based on the substructure of Ethereum.”
It is a fundamental side because, on many transactions, it has become an advantage for OmiseGo.
“OMG” can seem to be funny but what is behind of OmiseGo (OMG) and how it works is really serious indeed.
| The following features of OmiseGo are really necessary for you to understand it better. |
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| PoS combines the Proof of Stake algorithm with activities that the chain has done |
| To have a non-core structure |
| Financial incentive mechanism |
| Sketching and clearing takes place in OmiseGO Blockchain |
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| An automatic clearing-centered communication network |
Omise (OMG) is the leading and parent company of OmiseGo. Omise is a white-label payment service provider. It is based in Thailand but operates in Southeast Asia. Omise is in cooperation with the following countries: Singapore, Thailand, Japan, Indonesia, and Malaysia. The company was established in 2013 and provided a combined fund of at least $ 20 million. In 2015, the company received funds not disclosed by Golden Gate Ventures. There are still more than 100 employees in Omise. Except for the founders, Omise has some strong relationships and deals with other famous and wealthy companies.
Alipay, McDonald’s, Minor International are some of those companies.
If you are making trades on the system of OmiseGo, it means that your trade is not connected to a certain centre since there is nothing called “centre” on this system.
Today’s stock exchanges are linked to a centre and are trading stocks. All the user’s existing data (usually driver’s license and passport) is stored on a server (or a group of servers) where the exchange platform contains details of all transactions.
OmiseGO (OMG) brings the same functionality of Exchange to a centre but keeps all the actions of the user in the blockchain. It provides protection against hackers’ controlling the users’ available funds. Even if a hacker tries to do this, attempts of stealing information and important data will become almost impossible as he will have to identify the user of each block chain.
When you use OmiseGO’s block platform as an investor, you can make trouble-free transactions between closed systems (stock market) without actually using an OmiseGO (OMG) wallet for the following reasons. OmiseGO (OMG) allows you to sell cryptocurrencies to a stock exchange or buy cryptocurrencies from one stock exchange. This is made possible by connecting existing parcels to a central OmiseGO blockchain so that users can trade easily and seamlessly with exchanging cryptographic currencies. People who do not have a bank account or who do not want to deal with the financial system for any reason now have more options. The OmiseGO network is primarily trying to provide interoperability between closed payment systems (eg Paypal, Alipay, Visa, WeChat, Apple Pay, TenX Cards). Easy-to-use, ethereal-based financial technology does not require a bank account.
Omise was recently accepted as one of the three largest providers of payment services in Thailand, licensed by Paysbuy, an e-money operator, and accredited by the Ministry of Commerce with Trustmark (DBD Verification). This provides an active user resource, which is a very solid foundation. What all means is that OmiseGo seems to be very acceptable for an investment.
1-) It is the first plasma project
Vitalik Buterin (creator of Ethereum) showed great interest in the OmiseGo (OMG) project. This is also true not only because of the close relationship between OmiseGo and Ethereum block chains but also because it plans to be one of the first practitioners of an upgrade to Ethereum’s Plasma network. Plasma is a revolutionary chain scaling solution for intelligent contracts. According to the website, Plasma “operates at a high level of decentralized practices”.
2-) It is an Ethereum-based financial technology company that offers a non-deduction change (blockchain) and payment platform (wallet).
3-) It is an e-wallet and payment platform that you can use to buy and sell your currencies and currencies.
4-) Secure Wallet Software Development Kit helps to manage crypto/fiat / other assets.
5-) Commission solves problems such as transaction fees, loading time, transparency, security.
6-) OmiseGO (OMG) project is part of Omise, a successful FinTech company founded in 2013.
7-) One OmiseGo (OMG) wallet has many different currencies and asset holding abilities.
OmiseGo’s block-chain utilizes an Ethereum intelligent contract to keep Ether reserves in the decentralized stock market.
1-) There is yet no product which is working. Omise does credit card processing and most probably, OmiseGO will do cryptocurrency which is based transactions. However, you should not confuse the two.
2-) A Github repo which can be viewed publicly has not existed yet.
