Bithumb has announced the listing of OmiseGo (OMG) alongside Kyber Networks, another cryptocurrency currently circulating in the market. OMG tokens rose more than 35% since the announcement. Bithumb is the biggest crypto exchange platform in South Korea. Today, OmiseGo announced that the exchange platform had given the block 3988888 OMG airdrop to their eligible users. Zebpay, one of India’s crypto exchanges has also started live trading of the OMG tokens.
OmiseGo token is now available for trade in over 80 pairs across tens of exchanges. The token has been on a consistent upward trend for the month to date getting closer to its high recorded In January. At a price of about USD 19, the token registers 18th on market capitalization with a value of about USD 1.9 billion.
South Korea has been one of the most active players in the cryptocurrency industry while India remains the world’s fastest growing major economy. OMG’s expansion into these markets is key. Electrify, another cryptocurrency is preparing for an airdrop that will see electrify tokens given to OmiseGo token holders.
OmiseGo is built on the Ethereum blockchain using plasma architecture. This enhances scalability of the blockchain allowing an unlimited number of transactions to be executed simultaneously on the platform. OmiseGo has a lot of plans for the year. It continues to undertake projects to facilitate proper integration of its platform into the economy. Its ultimate goal is to create an infrastructure through which exchange of value can be achieved across different blockchains. It also aims to facilitate users’ access to the OMG ecosystem and its capabilities through a wallet SDK.
OmiseGo is also developing a crypto exchange network. The network will be linked to other facets of the ecosystem in order to facilitate trade of both digital and fiat currency and to support deposits and withdrawals. The platform takes advantage of the plasma technology to enable for faster transaction speeds while maintaining low fees and high levels of security.
Other Developments on OmiseGo
- The hard spoon between OmiseGo and Cosmos is expected in May. This will duplicate OMG token balances and connect to Cosmos through a Tendermint chain. These tokens can then be withdrawn through cosmos. Hard spooning is aimed at broadening access to the digital altcoin. This is a major event for OmiseGo and it’s expected to further push the token’s price higher.
- Quantstamp security has completed an audit on OmiseGo (OMG) and has given an assurance on the token contract’s security in the context of batch Overflow and proxy Overflow. The audit was targeted at identifying structural weaknesses of the code and other common pitfalls. OmiseGo token was created with a lot of precaution. Each time arithmetic is performed, the SafeMath library is used. This method checks for integer overflow and has measures to allow it to revert to a previously safe state when an integer overflow is present.