Beside from the most recent change in the market that brought over 5% rise to OmiseGO (OMG) in a single-day run, there are many reasons that make OMG and OmiseGO one of the most promising ERC20 projects on Ethereum.
Ranked close to the top 20 currencies and ranked as the 21st top coin in accordance with the growing market capitalization of over 572 million dollars, OmiseGO is offering decentralization with proof-of-stake protocol in an otherwise smart contract technology driven ecosystem that Ethereum makes alongside with the state-of-the-art DEX, which among several more features, gives OmiseGO an advancement among similar blockchain projects.
OmiseGo and the State-of-the-Art Decentralized Exchange – DEX
One of the factors that make OmiseGO (OMG) extraordinarily attractive in the eyes of investors and crypto enthusiast is the state-of-the-art decentralized exchange, DEX.
DEX makes up for a plasma decentralized exchange platform that works through the OmiseGO network in a way that it hosts a digital wallet made to be adequately open-source that enables cross-chain transactions.
With OmiseGO’s DEX, OMG users can gain access to both fiat and crypto-friendly exchanges that seek for the cheapest way of utilizing transactions and conversions for end-users through cross-chain connections, supported by Ethereum.
Precisely the presence of interoperability in OmiseGO operations through DEX’s state-of-the-art, OMG is set to acquire a higher value in the market as well.
DEX is said to have a new update incoming in accordance with the roadmap of OmiseGo, scheduled for the fourth quarter of 2018 as an estimated release date.
OmiseGO Provides a Complete Decentralized Experience
OmiseGo is said to provide a perfect experience of utilizing decentralized blockchain-based ecosystem while posing as a financial blockchain-based solution on Ethereum.
AS OMG enables not only crypto transactions but also supports cross-chain exchanges and interoperability, users can easily transact not only tokens but also game credits, fiat currencies, and loyalty points through the OMG network, creating an ultimate decentralized experience for users.
Some analysts are boldly comparing the possibilities of OMG, currently an ERC20 type tokens as it “resides” on Ethereum with Ripple’s technology, claiming that while Ripple has a blurry reputation on the matter of decentralization, being accused of covered centralized ecosystem, OmiseGo offers smooth remittance payments through OMG network by offering financial services to people with no access to bank accounts that way providing smooth global payment operations.
“Infinite Scalability” with Plasma
Another factor that makes OMG attractive to investors is the fact that OmiseGO is powered by Plasma, which represents the second layer of Ethereum that is said to have a leading scalability solution.
Thanks to the technology called Plasma, OmiseGo is able to find support for smooth DEX operations, while providing users with the ability to take advantage of ultimate scalability, low-cost security and safe utilization on financial applications running on the network.
OmiseGo Enables Smooth Mobile Commerce
While using the proof-of-stake protocol on Ethereum’s layer, OmiseGO has designed a neat digital wallet that is said to make the experience of mobile payments on a global scale possible, as well as unlocking the full potential of mobile commerce.
The SDK wallet designed by the team OMG enables all users to acquire a smooth end-user experience when transacting, enabling not only crypto-based payments, but also allowing users to establish a seamless communication between tow digital wallets in order to exchange loyalties, rewards, and various transactions.
Additionally, the wallet provides access to credit and virtual cash card, debit, direct payment gateway, all made in real-time.
OmiseGO in the Market
OmiseGO (OMG) seems to have obtained at least a portion of stability in the market despite the rough trends and frequent changes in the market.
While OMG is seen spiking up by over 7% against the fiat on August 18th, while the next day the rises perceived with having OmiseGO gain an additional rise of around 5% during the period of 24 hours.
Since OMG is settling a staking reward for OMG holders, awarding incentives after validated transactions, OmiseGO is able to keep the coins circulating through the incentive program, that way holding onto near-stability in the market.
Since a growing number of tokens is disbursed through the OmiseGO (OMG) network, the value of the network is consequently rising thanks to the increasing number of circulating tokens.