What is OmiseGO?

OmiseGO is a blockchain-powered project with a cryptocurrency token (OMG) and a decentralized exchange (DEX). As a financial company, OmiseGO looks to change the way traditional markets work by rooting out intermediaries, lowering transaction fees and accelerating money transfers across the globe. As a blockchain technology, OmiseGO is a peer-to-peer payment model with similar characteristics as Bitcoin and Ethereum. You don’t need permission to use it as long as you don’t infringe on their terms of use. Besides enabling a multiple of wallets to work together, this networks allows proper and complete access to its payment gateways.This cryptocurrency republic operates through POS protocol. This means there is no massive-scale power consumption, as well as an unjust and unfair reward system. All the individuals tasked with blockchain maintenance are rewarded in OMG tokens and those that provide inaccurate data with the aim of sabotaging the platform are ejected.

The Omise Company

OmiseGO is a Brainchild of the Omise company established in 2013 in Thailand with branches in Indonesia, Japan, and Singapore. It’s a payment house servicing over 40 companies, and it’s estimated to be worth more than $4 billion. It’s expected that Omise’s users dealing with digital assets will adopt OmiseGO.

Pros of OmiseGO

Simplicity -access to this community is unrestricted and needs no specialized consent, formalities, approval or any form of compliance.

Supports many cryptocurrencies – as a wallet, OmiseGO supports a wide number of crypto coins and fiat currencies. Its SDK technology allows e-wallets to interoperate.

Fast and cheap – as an exchange and a cryptocurrency community, OmiseGO aims at providing superfast transactions in all the currencies it deals with.

Cons of OmiseGO

No physical product is out yet – sure OmiseGO has a lot of exciting projects in the pipeline, but nothing concrete is out yet.

Dodgy marketing – OmiseGO is accused of publishing deals that do not exist. Their relentless Twitter marketing is full of “collaborating with Google,” and similar teases yet nothing concrete has surfaced. This makes crypto citizens feel like they are hoodwinking investors to their community without offering real value.

Where to buy OmiseGO

You can’t buy OmiseGO directly with fiat buy you can exchange Bitcoin, Ether or any token of your choice. The exchange platforms listing it include Bittrex, Binance, Huobi, and Kucoin to name a few.

Conclusion

Without a doubt, OmiseGO is a revolutionary cryptocurrency project with real-world uses and ties to other useful technologies. As a project backed up by the Omise company, its future is somehow brighter than single crypto startups. Nevertheless, it’s advisable to remind you the extreme volatility of cryptocurrencies. So if you decide to invest in OmiseGO or any other, just put in what you can afford to lose.

Leave a Reply

Minimum 4 characters
%d bloggers like this: