OmiseGo (OMG) current price is $1.546 with a marketcap of $216.85 M. Its price is -3.80% down in last 24 hours.
- OmiseGo (OMG)
- Live Price $1.546
24h % -3.80%
- Market Cap$216.85 M
- Volume$167.39 M
- Available Supply140.25 M OMG
More Info About Coin
As of today, OmiseGo (OMG) has become a well-known cryptocurrency project that is aiming to be a decentralized bank exchange and asset-backed blockchain gateway. It was earlier developed on the Ethereum Network, and their primary goal is to provide an international way of decentralized payments. But, what is OmiseGo, when was it developed and which is the team behind its creation. This article will give you an in-depth look about the OmiseGo currency.
What is OmiseGo?
The OmiseGo is a public financial tech that is based on Ethereum. It serves the purpose of allowing it’s users to engage in real time asset trade and any other form of online payments. It enables people to work with both traditional fiat currencies and cryptocurrencies. The OmiseGo network was opened to the public since last year. As a result, it has greatly improved coordination between payment systems, financial institutions, and gateways.
Mainly, its connection with the Ethereum made it easier for one to engage in financial transactions such as B2B commerce, money transfers amongst other things. The OmiseGo has created a network that will facilitate decentralized currencies in today’s growing economy.
The idea behind the creation of OmiseGo was to get rid of the regular financial systems. Through this tech, the buyer can conveniently pay for goods or services with his/her preferred currency and the receiver gets the payment in a convenient format. In other words, OmiseGo allows you to make payments for free without being registered to any bank.
The History of OmiseGo
The OmiseGo technology is run by the Omise Financial Company which was started back in 2013. The company mostly focuses on offering these services in part of Asia. One thing that you need to know is that OmiseGo is a subsidiary of the Omise Company. The Omise began as an online financial company, and it processed credit cards for PCI compliant.
As a matter of fact, as of now, Omise is accepted by more than ten thousand merchants all over Asia. Later in 2017, OMG launched their OmiseGo token, and they raised more than $25 million with the aim to support their decentralized online payment platform.
The Purpose of the OmiseGo Cryptocurrency
The primary aim behind the creation of OmiseGo was to aid in unbanking the banked by the use of Ethereum. At the moment, buyers are required to go through a lot of hoops before the money is transferred to another client. Plus, the money is usually held for at least a month. The OMG is aiming at taking the value transfer service to a whole new level by getting rid of all these inconveniences. Additionally, the network has created an SDK wallet app that will enable diverse payment.
Features of OmiseGo
The OmiseGo cryptocurrency incorporates three main features into both their blockchain and wallets. They include:
- It Provides ease of access. When accessing OmiseGo, you don’t need to have a bank account. The technology itself has a national currency in reserve.
- The OMG guarantees accurate scalability. Through quick calculations and minimal fees, the OmiseGo platform will be among the best.
- Since OmiseGo offers decentralized payments, safety is at the top of their priority.
Future Improvements for OmiseGo
As a growing technology, OmiseGo works tirelessly to improve their services. On the technical aspect, they are now working on updating the mobile applications for the eWallet. The improvement aims at introducing top-up via QR code scanning and enabling the app to work independently without the help of another server app. They are also working on the blockchain integration design.
Team behind the OMG
The team of developers behind the creation and management of the OmiseGo technology has amazed everyone in the world of cryptocurrencies. The team boasts of having adequate experience in cryptocurrencies. The co-founders of the OMG are Donnie Harinsut and Jun Hasegawa. Mr. Hasegawa is an experienced web and product designer with more than 15 years in this field. His other co-founder Mr. Harinsut also is equipped with enough experience having worked with the Alpha-Do Inc. for more than ten years. The team consists of a couple of excellent developers who were part of the creation of the Ethereum project.
Are you interested in investing in the OmiseGo project? You should know that the OMG token has faced some fluctuations over the year. Having dropped from $26 earlier in January this year, in September, it was at $4.80. You can buy the token using BTC, USDT, or ETH. Users from Asia are more likely to get their hands on OMG because it isn’t that popular in the US or Europe.
That aside, the OmiseGo has a couple of benefits, and it’s a project that should be kept an eye on in the coming months. One thing is for sure. Provided the OmiseGo gets the plasma network functioning by 2019, you can rest assured that it will be the fastest blockchain network in the world.
Pros & Cons
|Plasma technology will allow the OMG blockchain to scale to 1,000,000 transactions per second||Major competitors which include Ripple, Stellar and the Banks of course|
|Proven and experienced. Omise started in 2013, has offices in Bangkok, Tokyo, Jakarta, and Singapore, transfer money between businesses and individuals, and as of Mar/17 handle ~500 million USD / day||If Government's and major financial institutions feel threatened by cryptocurrency platforms, they're likely to take action.|
|Omise has heavily funded ethereum development directly. As a result, both founders of ethereum (Vitalik Buterin and Gavin Woods) are direct consultants for omiseGO.|
BCrypto Investment Tip
OmiseGo is a project that is very hard to judge whether it's worth investing in it or not. On one hand it looks like an amazing project with a very bright future but on the other hand if the banks or the governments decide that this project will have a negative impact on their business they will do everything in their power to stop it. But it's crypto, and you can't stop it, not for long anyway. That's why I'm very optimistic about this project and if it succeeds it will be huge.