OmiseGo is a decentralized digital currency exchange and blockchain that operates on the Ethereum platform. It allows for peer-to-peer transactions in real time. Both cryptocurrencies and fiat currencies can be used to trade OmiseGo. As opposed to other cryptocurrencies such as Bitcoin, OmiseGo uses a Proof-Of-Stake (PoS) algorithm instead of a Proof of Work algorithm (PoW).
OmiseGo was founded by, Omise, a payment processing company based in Bangkok Thailand. Jun Hasegawa and Donnie Harinsut founded Omise in 2013. Hasegawa is an entrepreneur who had founded several tech-startups before starting OmiseGo. Their mission was to provide a better payment system for developing countries as well as places with lackluster financial infrastructure.
Hasegawa and Harinsut's desire to stay at the forefront of tech innovation led them to join forces with Ethereum. OmiseGo was the first financial services organization to collaborate with Ethereum. Co-founders of Ethereum, Vitalik Buterin, and Gavin Wood, joined the OmiseGo advisor's board. OmiseGo held their ICO in 2017, surpassing USD 25 million. Throughout 2018, OmiseGo showed significant involvement in Standford's Center for Blockchain research.
In September of 2017, OmiseGo released an Airdrop to anyone who owned at least 0.1 Ethereum. A total of 5% of the total amount of OMG was distributed to these Ethereum holders. Giving out such a significant amount of OMG token was a "thank you" for community loyalty and to incentivize users to continue raising awareness of the currency's potential.
OmiseGo aims to accomplish two main goals:
Enabling decentralized exchange can solve issues among payment processors and gateways. OmiseGo can help to serve practical, real-life applications. Some of these include (but are not limited to) remittances, payments, deposits, payroll, business-to-business transactions, loyalty programs, supply-chain finance, and asset management.
OmiseGo highlights that neither them or their parent company, Omise, owns the blockchain. It is completely decentralized.
OmiseGo's use of the proof-of-stake algorithm removes the need for mining. Validators of transactions "stake" their tokens in what we could consider a security deposit. Good, honest validators get rewarded, while dishonest validators get penalized. Since proof-of-stake does not require powerful computer systems and expensive hardware to mine blocks, one can argue that they use significantly less energy than other digital currencies.
As of September 2018, OmiseGo had a market cap of $459 830 872 and a price of $3.27. They experienced an all-time high of $28.35 in January of 2018. Throughout 2018, there was a significant drop in price for many cryptocurrencies.
Anyone who wants to get involved with this innovative cryptocurrency needs to know how to buy omg. OmiseGo does not sell OMG tokens. However, they can be purchased on trusted exchanges. Some exchanges that are commonly used to buy OMG are Binance and Changelly. Additionally, users will need to download an OmiseGo wallet to store their tokens. OmiseGo recommends using Mist, Parity, or MyEtherWallet, all of which are Ethereum compatible.
Reference coins.live for an OMG price chart and other helpful coin data.
Source: Live Bitcoin News - 1 month ago
Allowing cryptocurrency ecosystems to evolve requires community participation. In this day and age, dApps are often considered the go-to solution. For OmiseGO, its first dApp is currently live on the Plasma testnet. This also demonstrates the power of OmiseGO’s native layer-two scaling solution. A Major Step Forward for OmiseGO Numerous cryptocurrency ecosystems are competing for...
Source: The Merkle - 1 month ago
All cryptocurrency ecosystems need to keep evolving over time. Introducing new features and building the underlying infrastructure takes center stage. In the case of OmiseGo, a lot of interesting things are in development right now, although they will take a while to be fully realized. The following projects are worth paying attention to. #4 eWallet […]
Source: NEWSBTC - 3 months ago
FOMO Moments Markets are creeping up; Monero, OmiseGO, VeChain and Neo improving. Crypto markets are still a little sluggish this morning but the good news is that they have not fallen back again. Very minor gains have been made on the day keeping total market capitalization above $235 billion. Bitcoin has yet to make a...
Source: NEWSBTC - 7 months ago
OmiseGO, a decentralized cryptocurrency exchange issued on Ethereum who has raised $25 million in its initial coin offering in Q2 2017, has updated its roadmap to clarify the timelines and milestones ahead. OmiseGO Shares Updated Visual Roadmap The dynamic, evolving process, which has started with the ICO in Q2 2017, was followed by an airdrop...
Source: NEWSBTC - 8 months ago
When the common goal is the same, in this case financial decentralization, collaboration can often help to achieve it faster. MakerDAO and OmiseGO have teamed up to consolidate their roadmaps towards achieving a financial revolution. OMG and Maker Going Forward Together Announcements came from both teams yesterday confirming the partnership and continued efforts to work...
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