This Small Cap token is one of the cryptocurrencies gaining popularity especially within its mother continent, Asia. Omisego (OMG) has been among the altcoins strongly linked to the Ethereum Developments over the past two years. It is from the ETH blockchain platform that Omise, a profit making company decided to advance the world of online payments by funding the development of Omisego working product. The network is meant to be completely open source as both Omise and OMG both do not have control or ownership of the network. The drive behind the development of this cryptocurrency was scalability within the network, two roadmap milestones have been set to follow up on this;
- The team has an objective of introducing an Omisego Fiat protocol that will enhance transactions within the Ethereum network. The OMG security is guaranteed by the advanced ETH protocol with its scalability depending on the plasma architecture on which the platform is built.
- Open source development to allow users to participate freely within the OMG network, this is important in contribution towards the working product of any cryptocurrency. Omisego is set to achieve this objective through the Software Development Kit (SDK) which makes exchange of assets online very effective.
Omisego (OMG) Tech Basics
Advanced Software; Omisego has gone a step further in enhancing user experience for digital wallet holders. By using the White-label Wallet Software Development Kit, OMG has managed to add more features to standardize online wallets.
Exchange Decentralization; Omisego (OMG) protocol is in line with the basic underlying that cryptocurrencies should be decentralized unlike the Ripple (XRP) which operates on a centralized system. The platform used by Omisego uses a Proof of Stake protocol for approval of transactions; participants within the network also make decisions on the amount of fees to be charged as maintenance for the network.
Linking Cash In/Out Wallet; Users within the crypto arena have been long stranded on how they can operate debit & credit cards with crypto together and achieve desired investment goals. Omisego provides a solution through its SDK wallet whose protocol is well suited to merge the world of ATMs with that of crypto.
Plasma – Omisego Scalability
The Ethereum platform has been a favorite for most altcoins looking into scalability or crowd funding within the network in the near future. The aspect of scalability in blockchain is inevitable and therefore the question for any investor, developer or analyst should be how scalable a network is in accommodating projected adoption of crypto and enhancing transaction speeds. Omisego is one token that made sure they got their network protocol right; the team opted to use the Plasma design in its development. This Ethereum based protocol uses a Proof of Stake mechanisms and a combination of other protocols such as fraud proofs. This platform has proven its efficiency by reducing computation costs and a retreat tactic to evade system attacks. In order to achieve this level of functionality, the plasma network allows many “child brains” to approve small transactions which are later directed to the root chain for enforcement of the smart contracts.
ICO & Price Analysis
The Omisego team well-structured its ICO between public and private pools in a demand supply manner that would easily fall in line with market correction in future. Investors would be delighted to know that this digital currency is among the few that have so far managed to achieve its $25 million target fund through a token presale. Omisego (OMG) is currently trading at $ 14.5 with a comfortable market cap of over $1.4 billion. Omisego token has been characterized by a high volatility of 64% within the last week although the coin has good ROI prospects when compared to its peer coins.