OmiseGO (OMG) has been working on increasing it’s scalability and Plasma has got the scaling issue come to rest. This will be a huge boost for OmiseGO community, as we know in cryptocurrency, scalability is one of the core fundamentals for any altcoin. Plasma is a potentially revolutionary innovation. An innovation that incidentally requires two chains in order to function. Plasma is also a community project, so any team could potentially build their own “second chain” to their own specifications. The release of Plasma alpha by Ethereum (ETH) will tackle scalability issues with finality. This will speed up transactions and instil renewed confidence to the OmiseGo investors.
What possible benefits could Ethereum (ETH) take from this development!
But their are many questions asked by investors which needs to answered. So plasma, if implemented, will be a huge innovation. But what will it do for the price of OMG and why? Plasma will help scaling, but doesn’t the price of OMG depend on mass adoption? How will plasma increase the value that the OMG token delivers to society? Could plasma be a success and go on to hyper charge ETH, or it will also boost up the mass adoption of OMG?
Plasma, as an ecosystem development, is extremely crucial to scaling Ethereum (ETH) overall. Understanding this, doesn’t it make a ton of sense that Ethereum should invest substantial time and energy toward the development of at least one of those various Plasma chains to ensure that it is constructed as to optimal specifications? Isn’t Ethereum interested in demonstrating the potential of their scaling technology? Why leave it to only unaffiliated teams? And, naturally, to the extent Ethereum has existing corporate and government connections, isn’t part of the demonstration of the technology networking significant adoption possibilities?
They’ve invested a ton of time and energy into OMG because they are very interested in ensuring the success of the project, both for its own purposes in financial transactions (and more) and for the larger purpose of legitimizing Plasma overall for crypto.
What sort of speculation do you think this would engender? Once the market sees that major corporations, conglomerates, nation states are all running on ETH or even on OMG. Once investors see the relationships between ETH and OMG and even if the market actually starts to understand what Plasma really means.
Remember that Ethereum and Bitcoin achieved four and five-figure prices largely due to adoption hype and speculation alone. And if for whatever reason OMG doesn’t achieve the same price appreciation because Plasma is too esoteric to understand and all of the hype-action goes to Ethereum instead, well, that’s just a fantastic dividend ratio to buy OMG.
Well OMG has a relationship with ETH but investors need to understand that OmiseGO has it’s own identity and is well capable of competing in the market and that is why it is on the list of top 25 coins on coinmarketcap.
OmsieGO (OMG) is more than just Mass Adoption..
Here are the answers that why OmiseGO is becoming the investor hub. One of the great things about OMG is that it doesn’t depend on mass adoption from an end user perspective. It simply depends on adoption from a corporate enterprise perspective. Assuming that OMG is successful with their implementation, corporations will hopefully see a new technology, which securely enables them to cut costs substantially, meaning a fatter bottom line and happy shareholders. This has the potential to make a huge impact, particularly in industries with razor thin profit margins. Other companies in the same industry may also be pressured to adopt this tech, or something like it to remain competitive. Companies will simply use the SDK to plug in so that their payments are run through the OMG network and the end user will not necessarily have any idea. A win for everyone involved. The genius of this project is that it is somewhat of a hedge against most other projects in the market, which are highly dependent on crypto adoption from the masses. The world expect crypto to revolutionize a number of industries. But even if it didn’t, OMG still has the potential to be massive.
Crypto is still not adopted by the mainstream and the reason for that is scalability. Scalability and security are needed, some solutions are scalable but not secure enough. So the Cryptos that are early movers in scalability have a very good chance of mass adoption. Plasma is a highly scalable solution, OMG is an early mover, OMG has a valuable use case, OMG has the potential to make partnerships, etc. These give OMG a Very High Chance for mass adoption in the time to come. Combine this with a bull market and just imagine what it would do to the price of OMG.
OmiseGo (OMG) Market Performance
Currently, OmiseGo (OMG) is trading at price of $3.27 USD, with a market cap of $459,257,677 USD. OmiseGO has raised up to 5.6%. From the last day performance it’s price has raised from $3.11 USD up to $3.37 USD today (at the time of writing). Market has been suffering through a bearish run and here is when the patience of the investors is tested. In business all you need it a bit of patience and right timing for investment. Just wait for the market to be bullish again and OMG will have a high flight.