Cryptocurrency OmiseGO (OMG): overview and project, price, rate and schedule, forecast and prospects, how to buy or sell, wallets

218

OmiseGO (OMG) is a scalable Ethereum-based financial solution that enables transparent payments in real time. Among the main features:

✅  SDK white-label format. Creation of applications on OmiseGO makes it possible to conduct transactions between different types of cryptocurrencies, as well as fiat, earn game credits, loyalty points, etc.

✅  Handling digital assets. The OMG network can be used to work with digital currencies securely stored in the blockchain – viewing balances, managing, conducting transactions.

✅  Decentralized exchange. The platform offers a decentralized exchange algorithm that ensures compatibility between different chains. The platform is scalable and secure, thanks to the Proof-of-Stake consensus.

✅  Fast and secure clearing of transactions using the consensus algorithm and Ether smart contracts.

The Plasma architecture used by the OmiseGO project provides limitless scalability and high speed of payments (up to several billion per second). The Btcnewsweb.com editorial staff offers a detailed overview of the OmiseGO platform and the functions of the OMG cryptocurrency.

You can trade the OmiseGO (OMG) cryptocurrency on the liquid exchange Binance in OMG / USDT, OMG / BUSD, OMG / BTC, OMG / ETH pairs.

OMG token price to USD

Name Price Market Cap Supply Change % (7D) Performance
1 OmiseGo
$1.52
$212,612,023.74 140245398.24513 OMG
+0.53%

OMG to USD chart

Information

OmiseGO cryptocurrency performance as of June 28, 2019:

NameOmiseGO
TickerOMG
TypeERC-20 token
Blockchain platformEthereum
ConsensusPOW
Capitalization344 564 532 $
Course2,46 $
Current issue140 245 398 OMG
Maximum emission140 245 398 OMG
Websitehttps://omisego.network
Blockchain Explorerhttps://etherscan.io/token/0xd26114cd6EE289AccF82350c8d8487fedB8A0C07
Twitterhttps://twitter.com/omise_go
Crypto exchanges for buying/sellingBinance, EXMO, BitForex, Kucoin, Crex24, Huobi, OKex, Ethfinex, HitBTC, Gate.io, Bittrex, etc.
Launch year2017
CEOJun Hasegawa
CountrySingapore

OmiseGO (OMG) to Tether (USDT) chart

Online OMG / USDT chart. Binance exchange quotes.

Where to buy and store OMG

OMG tokens can be purchased with cryptocurrency or fiat on various trading platforms. As an example, the Binance exchange.

Buying / Selling Instructions

Use the search box to quickly find the coin you are looking for.

To find out which cryptocurrencies, besides Bitcoin, the token is traded with, use the Balance section. There also enter OMG in the search.

Then click on the “Deal” button, the last one in the table. A list of currencies that you can buy or sell OmiseGO against will be displayed.

These are BNB, BTC, ETH and USDT.

And to make a buy / sell, use the order creation forms at the bottom of the trading terminal page. Specify the desired price and number of coins, as well as the type of order.

If you need to purchase tokens not for cryptocurrency, but for fiat money, then there is an option to use the EXMO exchange.

On this site, OMG can be bought for US dollars.

Wallets

For cryptocurrency wallets, standard options can be used to store OmiseGo, including MyEtherWallet, Parity or Mist, since OMG is an ERC20-based token. For added security, you can use Ledger or Trezor hardware wallets.

Technical implementation of the OmiseGO blockchain

The blockchain structure includes:

✅   Liquidity assurance system.

✅   Decentralized exchange.

✅   A gateway with support for cryptoassets.

✅   Clearinghouse messaging technology.

The network uses OMG tokens and a proof-of-stake consensus mechanism. The technology has high performance and allows the exchange of a wide variety of assets, from traditional currencies to fully distributed blockchain tokens. Also, the network uses smart contracts in its work according to the concept of Ether, which contributes to the transparent exchange of currencies. Smart contracts ensure that payments are made more freely for customers.

One of the smart contracts used by OMG is Plasma.

Plasma and OmiseGO

Plasma is a scalability blockchain solution developed by Vitalik Buterin together with Joseph Poon. In fact, it is simply an Ethereum smart contract that any developer can use to create a high-performance platform on which transactions will be performed much faster and more securely.

OmiseGO anticipated scalability issues ahead of time, so it contracted with Plasma. It is believed that the interest of users in the project will grow, and as a result – and their number. It is important that even with increased load, the OMG still performs satisfactorily.

Customer benefits of OmiseGo

The main focus of the project is aimed at two types of clients:

✅  Individuals. They can perform online banking operations, save on transaction costs when sending and receiving money. The technology is able to freely replace banks or other third-party institution.

✅  Electronic Payment Providers (EPP). With OmiseGo, they can offer their users more convenient and profitable ways to transfer money between networks.

OMG tokens within the system have certain functionality. First of all, the cryptocurrency will be used by users to acquire the right to close the block (this system resembles Proof-of-Stake). Every transaction made through the platform generates some kind of reward. As a result, the more a client uses transactions, the more coins he receives.

Team

The team can tell a lot about the project – the more experienced and active they are, the better the final product will turn out. The OmiseGo development team consists of:

  1. Founder and CEO – Jun Hasegawa
  2. Co-Founder & COO – Donnie Harinsut
  3. Design Developer – Wendell Davis
  4. Managing Director – Vansa Chatikavanij
  5. Advisor – Thomas Greco

There are actually many more advisors, this is a necessary aspect of creating a successful project. OmiseGo interacts with renowned individuals in the blockchain and finance world, from Vitalik Buterin to finance academic David Chuen. This speaks of the foresight of the team.

Advantages and disadvantages

Pros:

✅  Support for the Plasma infrastructure, which opens up new opportunities for decentralized exchange and can seriously compete with Bitcoin. Plasma was developed by some of the leading minds in the industry, with Vitalik Buterin personally taking part in its creation.

✅  The parent company, Omise, is a renowned payment provider from Southeast Asia with an extensive customer base all over the world.

✅  Decentralized SDK marketplace with minimal transaction fees and elimination of hacking or phishing issues.

Cons:

❌  Token volatility. The level of the course is highly dependent on the success of the technology itself.

❌  The ambitiousness of the team’s plans, the implementation of which is not yet guaranteed by anything

Forecast and prospects

OMG can be called a truly revolutionary technology in finance. The fact that it is blockchain-based adds a lot of security and decentralization.

Many people pay attention to the foresight of the team – employees anticipate many problems and try to solve them in advance. The support of Vitalik Buterin and other serious persons in the blockchain industry is of great importance.

The future of OMG looks good, given the fact that the currency is gradually being recognized by large companies, for example, McDonald’s branch in Thailand.

Leave A Reply

Your email address will not be published.