OmiseGO

OmiseGO

(omg)

Available

Prices are in USD.

Market Data For OmiseGO

Current Price $4.96
Market Cap $708,257,344
Market Cap Rank #102
Total Volume $158,505,216
High 24H $5.40
Low 24H $4.95
Price Change 24H -0.09%
Price Change Percentage 24H -1.66%
Market Cap Change 24H $-9,634,246.00
Market Cap Change Percentage 24H -1.34%
Circulating Supply 140,245,392 omg
Total Supply 140,245,392
All Time High $25.62 -80.36%
January 13, 2018
All Time Low $0.35 1,333.77%
March 13, 2020 -

Coin Data For OmiseGO

About OmiseGO

OmiseGo Coin Review: Mining Guide, Price & Analysis of OmiseGo Cryptocurrency

OmiseGo, currently known as OMG Network, is a layer-2 scale solution that is non-custodial, built based on the Ethereum blockchain ecosystem. With its base as Ethereum OMG enables its users to transact and transfer the Ethereum(ETH) and ERC20 tokens way faster and cheaper on the Ethereum network.

OmiseGo Review, OmiseGo Company

The network makes use of the sidechain architecture, where several transactions are grouped off-chain into a batch. The batch is then verified as a single transaction based on the Ethereum root chain. This is possible because the network is built based on a noval scaling solution known as MoreViable Plasma.

Just like most cryptocurrencies, OMG has its tokens fixed to a maximum supply which is set at 140,245,398 OMG. Apparently, unlike most of the other cryptocurrencies, this fixed supply will never increase beyond the set value. OMG's total supply is already minted and the majority of its shares already in circulation.

How Does OMG Work?

Enjoying the Ethereum security, the platform brings about features like near-instance transaction times, white-label e-wallets, and zero transaction fees

Near-instance transaction times - OMG includes DEX(decentralized exchange) which will enable users to trade in any currency or asset, values here are traded in real-time. Unlike centralized networks, OMG does not store data or administer a server instead the network uses PoS (Proof of Stake) which is secure, scalable, and can support any type of digital asset, monitoring, and storage of its blockchain are done by the many nodes connected.

White-label e-wallets - OMG created an eWallet which is essentially a software development kit (SDK) that companies can integrate. The eWallets can be integrated in various ways across various industries this enables developers to save on development time used in designing and building their products and saves on the hustle of learning the complexity of blockchain.

Zero fees - The team that built the OMG network, built it to be globally inclusive. The network operates in different currencies and different asset types, users of OmiseGo can transact over the network without owning a bank account or paying transaction fees.

Can Investors Mine OMG Currency?

Sure thing, investors can mine OmiseGo currency easily. Nowadays, thanks to the high liquid token of OMG, OmiseGo token can be bought and sold on over 200 exchange platforms including some of the top ten exchange platforms such as Binance,  Poloniex, and Coinbase pro.

OmiseGo Review, OmiseGo Platform

Once an account is verified in any of the exchange platforms (normally after filling the KYC requirements), the user can load funds into their account where they can choose to use fiat currencies such as U.S dollars, euro(EUR), British sterling pound(GDB) and may more, similarly if the user has crypto s/he can send crypto straight to the eWallet and load up funds in the eWallet.

The Developers Team

The OMG Network which is a subsidiary of SYNQA was founded by Vansa Chatikavanij who was born in Thailand, Vansa received a master’s degree in earth and environmental science at New York’s Colombia University. Before founding OMG Vansa held prominent roles in financial institutions such as The World Bank Group and International Finacial Corporation.

OmiseGo currently has over fifty employees who are distributed across the globe with Joseph Poon as the lead developer.

Joseph is well known for his expertise in the development of Lightning Network and Plasma. His experience in the two-second layer protocols has helped make OmiseGo a unique project in the market and in turn the second layer protocols have the potential to revolutionize the market in the future.

Besides Vansa Chatikavanij and Joseph Poon, OMG’s Chief Operation Officer is the former Head of Blockchain R&D strategy at Huawei Technologies alongside a highly experienced engineer and consultant Chief Technology Officer by the name Kasima Tharnpipitchai.

Privacy And Security Of OmiseGo

The OMG network partnered with Quantstamp a blockchain cybersecurity company with teams of cyber experts that are focused on the security of decentralized blockchain networks to carry out audits on the security of the OMG’s MVP.

Quantstamp’s main focus was to check on the security of OMG, the code quality, and ensuring that the code adhered to the best practice specification guidelines. Quantstamp discovered a vulnerability that was later resolved by the OMG team

Plasma MVP’s sole implementation is the maintenance of the security guarantee in the main chain and overcoming the scaling challenges hindering Ethereum from reaching its sole design goal.

The decentralized exchange and open platform developed aims to ensure the network is secure and that solutions are white-labelled to merchants and enterprise businesses.

Our Take on OmiseGo

There is great potential in OmiseGo. This platform will enable the instant exchange of crypto or fiat currencies in which could significantly become a game-changer.

OMG is a unique product in the market, with a number of advantages using it, for instance. The implementation of the layer-two protocol that is being built by Ethereum in OMG brings about scaling solutions that will improve the transaction speed that will be at the same level as payment processors such as Visa.

In the Asian market of digital finance, OMG is slowly becoming a potential leader. The weak centralised payment processing industry brings this about, OMG here offers an alternative for banks, users, and corporation to move to a new decentralized system through the Ethereum network which is a fascinating move that could prove that the OMG token has got a promising future.

On the downside, OmiseGo is a project in progress as of now they still do not have a working product, and therefore if an investor wishes to invest in OmiseGo, one should be aware of that. Again bear in mind that most of the time the delivery of a product is not always what is promised and as long as they do not have a ready product yet we all have to wait and see the market metrics of the product when it launches.

Advantages

  • No bank account would be required while trading with OMG
  • Near-instance transactions
  • Zero fee
  • White-labeled eWallets
  • Easy integration through their Software development kit (SDK) saving on development time.

Disadvantages

  • No working product yet

How to buy OmiseGo token

Buying OmiseGo token is quite easy, the user who wishes to buy this token needs to create an account with any of the exchange platforms such as Binance and Poloniex complete the KYC (know your customer) requirements wait until the account gets verified which usually does not take long.

Select your payment method as provided by the exchange platform you are signed up with and deposit funds to your exchange platform account from a source account as selected by the user (remember this funds could be in crypto or fiat currencies).

Select OMG from the list of currencies as suggested by your exchange platform then click buy to purchase your OMG tokens and get them to your free digital e-wallet as provided by your exchange platform provider.

Final Verdict

OMG is really doing good in the cryptocurrency market and its future is really bright.  Even though we’ve not heard anything about the making of new tokens the usage of OMG in the financial space may lead to customization of the tokens as it runs parallel to banks

The open-source eWallets “white-labels” models will allow software developers to integrate with the platform to process payments across the OMG platform while still maintaining the base designs of their application software.

OmiseGo is coming to address the challenges of high transaction fees and high transaction clearance time that is a current challenge being faced by the bitcoin, which will make OMG the most cheaper altcoin of choice.

What People Are Saying About OmiseGO