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What is OmiseGo (OMG)?

May 10, 2018 By admin_coin

What is OmiseGo Crypto Currency?
What is OmiseGo Crypto Currency?
A brief description of OmiseGo.
OmiseGO is a public Ethereum-based financial technology for use in mainstream digital wallets, that enables real-time, peer-to-peer value exchange and payment services agnostically across jurisdictions and organizational silos, and across both fiat money and decentralized currencies. Designed to enable financial inclusion and disrupt existing institutions, access will be made available to everyone via the OmiseGO network and digital wallet framework, starting in Q4 2017.

OmiseGo Video

The purpose of OmiseGo 

Focuses on user friendliness, mainstream digital wallets, real-time, peer-to-peer value exchange, fiat money and decentralized currencies, enables financial inclusion and disrupt existing institutions, access will be made available to everyone via the OmiseGO network, White label Wallet,Trustless transactions between parties, Freedom of payments, Counterfeiting impossible, Fraud resistant, No single point of failure, No % based transfer costs

OmiseGo Abstract

OmiseGO is building a decentralized exchange, liquidity provider mechanism, clearinghouse messaging network, and asset-backed blockchain gateway. OmiseGO is not owned by any single one party. Instead, it is an open distributed network of validators which enforce behavior of all participants. It uses the mechanism of a protocol token to create a proof-of-stake blockchain to enable enforcement of market activity amongst participants. This high-performant distributed network enforces exchange across asset classes, from fiat-backed issuers to fully decentralized blockchain tokens (ERC-20 style and native cryptocurrencies). Unlike nearly all other decentralized exchange platforms, this allows for decentralized exchange of other blockchains and between multiple
blockchains directly without a trusted gateway token. Markets may be able to signifi- cantly reduce spreads and encourage market assurance via decentralizing custody and increased transparency of market activity. This is achieved using smart contracts, protocol tokens enforcing correct market behavior of orderbook matching, a new construction of Ethereum bonded external enforcement of clearinghouse activity, and commitments to historical exchange data for use with Ethereum smart contracts.

More information can be found in the OmiseGo whitepaper https://cdn.omise.co/omg/whitepaper.pdf

Other OmiseGo facts

  • Trading symbol: OMG
  • Governance: Centralized > Hierarchical
  • Open source: Yes
  • Product status: Fully working product
  • Consensus method: Proof of work
  • Emmission rate: No new tokens created
  • Transactions per second:  2500
  • Total Supply: 140,245,398
  • Release date: 2017-06-23

Usefull OmiseGo links

  • OmiseGo’s Website
  • OmiseGo pricing data & fundamental OmiseGo information
  • OmiseGo’s Website
  • OmiseGo official blog
  • OmiseGo’s Bitcointalk Forum
  • OmiseGo’s Reddit Forum
  • OmiseGo’s block explorer
  • OmiseGo’s Alexa site stats
  • OmiseGo’s official forum: n/a
  • OmiseGo’s Github code repository:
    https://github.com/omise/omise-go
  • OmiseGo’s roadmap:
    n/a
  • OmiseGo’s team page: https://omg.omise.co/#about
  • OmiseGo’s whitepaper: https://cdn.omise.co/omg/whitepaper.pdf

Filed Under: OmiseGo Tagged With: Altcoin, Crypto, Currency, OMG, What is?

Other questions related to this cryptocurrency:

  • Is OmiseGo (OMG) Centralized, Decentralized or Semi-Centralized?
  • What is the Consensus method of OmiseGo (OMG)?
  • All available information on the OmiseGo (OMG) ICO
  • How can I contact the OmiseGo (cryptocurrency) team?
  • Who is leading OmiseGo (OMG) crypto?
  • Where to find Historical trading info and past performance on OmiseGo (crypto)?
  • Where can I find fundamental analysis of OmiseGo (OMG)?
  • How to buy OmiseGo (OMG) cryptocurrency?
  • What is OmiseGo (OMG)?

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