OmiseGO Coin Review
When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of OmiseGO Coin.
What Is OmiseGO?
OmiseGO is an Ethereum-based financial technology company offering a decentralized exchange and a payments platform. It is a company that has created a financial technology for use in conventional digital wallets. That technology enables for real-time, peer-to-peer exchanges and payments. Moreover, it promises to work “agnostically” across authorities and organizational silos, and across both fiat currency and cryptocurrencies.
The objective of OmiseGO is also to disrupt existing financial institutions.
In layman’s terms, OmiseGO wants to make it easy to process payments, and cheaper to exchange currencies. The objective is to make financial transactions more proficient and to interrupt existing financial institutions.
OmiseGO has not yet been launched. It is however scheduled for launch later this year (2018). OmiseGO has however released its tokens known as OmiseGO tokens, or OMG tokens.
How Does OmiseGO Work?
There are two main products in the OmiseGO ecosystem: the blockchain and the wallet.
OmiseGO will allow decentralized exchanges on a public blockchain at high volume and low cost. Using this platform, OmiseGO will provide a “next-generation value transfer service operating across currencies and asset kinds.” Also, anyone will be capable to use the OmiseGO network to conduct financial transactions.
Furthermore, some of the possible financial transactions to perform with OmiseGO include payments, remittances, payroll deposit, B2B commerce, supply-chain finance, and loyalty programs. Moreover, the platform will make it simpler for millions of users to participate in the cryptocurrency world. They will be capable to simply switch from using fiat currency to using decentralized currencies like ETH, BTC, and others.
The eventual objective of OmiseGO is to produce a state of ideal competition in the world of currencies.
Access: No bank account is required to perform the exchange, and OmiseGO will have nationally-licensed full reserves.
Scalability: Immediate settlements and low costs will be main features of the OmiseGO platform.
Security: Finally, OmiseGO offers decentralized currencies and decentralized custody.
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