OmiseGO Coin meaning by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about what is OmiseGO Crypto currency.
What Is OmiseGO Cryptocurrency?
OmiseGO is an open payment platform and decentralised exchange issued on Ethereum, an open-source public blockchain. Its slogan is “Unbank the Banked” and the stated objective is to provide better financial services for everyone, including both people who use traditional banking services and people in developing countries and locales which lack traditional banking infrastructure. Its token OMG is currently the sixth highest market cap Ethereum project in the world and was the first Ethereum project to exceed USD $1 billion valuation. The project is supported by co-founders of Ethereum: Vitalik Buterin and Gavin Wood, and is designed by the creator of Lightning Network and Plasma, Joseph Poon. The first public release of the wallet SDK is expected to happen in the first quarter of 2018. The SDK and blockchain will continue to be worked on and functionality added.
Public and Permission-less
The completed network will be freely available to the public and not owned by the founding company Omise, which will use the network to support its existing payment business and benefit from network effects. Formalised partnerships are not required to use the OmiseGO network, which is public and permission-less in the same way that Ethereum and Bitcoin are.
The OmiseGO blockchain is a fully on-chain and massively-scalable decentralised exchange, liquidity provider mechanism, clearinghouse messaging network, and an asset-backed blockchain gateway. The OmiseGo blockchain provides an incentive for large holders to gain more tokens by securing the network and putting those tokens at stake. It has low fees, fast transaction times, cash-out options.
The first public release of the OmiseGO White-label Wallet SDK is expected to happen in the first quarter of 2018. The White-label wallet SDK will allow a range of payment solutions which can be easily deployed on the OmiseGO network. It will allow users to exchange fiat money, cryptocurrency, card payments, gift cards, top-ups and credit payments for other digital assets on the OmiseGo decentralized exchange. Digital wallet providers have the flexibility to enhance, add, and customise payment solutions for different industries and markets. All transactions across digital wallet providers using the OmiseGO white label wallet SDK will be conducted on the OmiseGO network.
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What is OmiseGo Coin Conclusion
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