What is OmiseGo(OMG) Coin? - Everything you need to know Cryptocurrencies are becoming extremely popular these days all around the Globe due to their distributed platform, faster transactions speeds and along with many more features.
Likewise, Omisego is also one among them. It is an open payment platform which provides the flexibility to process the transactions without getting dependent on anyone.
It is a decentralized platform based on Ethereum which is a distributed public blockchain. It enables financial inclusion and interoperability through the public using decentralized OMG network.
What exactly is Omisego(OMG)?Omisego is also called OMG which is currently ranked as 20th best currency in the global coin currency list. OMG's main aim is to “Unbank the Banked” which means helping the unbanked people to reach the banking services.
Basically, Omise was launched in 2013 in Thailand, Japan, Singapore, and Indonesia which provides online payment solution to sell the services to its customers or investors.
Omisego came into existence in 2017 as an extension of Omise which focuses on providing security and allows them to process transactions without getting dependent on anyone. Along with that, it takes control over financial and valuable assets and let them exchange with each other.
It enables peer-to-peer transactions in real-time by using White-Label SDK wallet (via an app) which allows wallet-to-wallet transactions of currencies, loyalty points, game credits etc.
The Team behind OmisegoOmisego team is known as “Fintech Rockstars” and also they got awarded as “Digital startup of the year” by Thailand’s Prime minister.
The core people involved in the team are Jun Hasegawa who is the CEO/Founder and Donnie Harinsut who is the COO and Co-founder.
Likewise, they have many notable members of advisors that includes Joseph Poon, Lightning network co-author , Vitalik Buterin, Founder of Ethereum , Dr. Gavin Wood, Co-founder of Ethereum , Jae Kwon, Creator of Tendermint, and cosmos network, Vlad Zamfir, Ethereum’s Casper Research Lead, Julian Zawitowski, founder of Golem, and Thomas Greco, Special Advisor.
Along with them, Wendell Davis - who proposed the product design and last but not the least, Vansa chatikavanij, who is the managing director.
Moving on to The Technology behind OmisegoOmisego runs on the Proof-of-Stake algorithm. Omisego blockchain network includes:
A Decentralized Exchange (DEX) which provides multi-asset and cross-chain interoperability. It is a liquidity provider mechanism which allows values to be traded in real-time for other values.
The Omisego Wallet which is an app through which money can be sent and received and used to stock.
A white-label wallet Software Development Kit (SDK) which is called as Programming framework where SDK is a collection of pre-defined programming functions which helps developers to develop and code application faster and effectively from the scratch.
The Omisego network’s token named as OMG token which is required to make sure wallet is open which allows them to confirm the blocks on the network.
Where to buy OMG?To buy OMG, a user requires buying Bitcoin, Litecoin or Ether first and later it can be converted into OMG by exchanging them. You can buy Bitcoins from any of the popular exchanges available in the market. While some exchanges available to buy OMG are:
- BuyUcoin
- CoinSwitch
- Bittrex
- Binance
- Bitfinex
Benefits of Omisego- Interoperability
- Decentralized Access
- Security
- Scalability
Problems solved by OMG:
Why is it good to hold OMG token in the Wallet??
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