1 Level
11 Review
5 Karma
Review on OMG Network by Bisi Jo
OmiseGO is not owned by any single one party. Instead, it is an open…
OmiseGO is not
owned by any single one party. Instead, it is an open distributed network of validators
which enforce behavior of all participants. It uses the mechanism of a protocol token
to create a proof-of-stake blockchain to enable enforcement of market activity amongst
participants. This high-performant distributed network enforces exchange across asset
classes, from fiat-backed issuers to fully decentralized blockchain tokens (ERC-20
style and native cryptocurrencies).
Pros
- The primary role of blockchains are to solve coordination problems among multilateral agreements between a network of participants. By ensuring transparency, assurance, and enforcement, we can enable multilateral agreements where they were not previously possible. When all parties are assured that the operations are not only transparent, but also the mechanisms are guaranteed to not change without significant effort, parties are more willing to coordinate.
Cons
- OmiseGO is the cryptocurrency payments platform. There currently isn’t any proof that they have a product working yet.It does not address contract in any meaningful manner. But it does not have to. I don't see the international settlement utility just yet. From an investor’s perspective its neither a value token investment or necessarily a transaction based investment.
