1 Level
7 Review
2 Karma
Review on OMG Network by TUAN NGUYEN VAN
OmiseGo has seen better days for sure, just like the rest of the market. It…
OmiseGo has seen better days for sure, just like the rest of the market. It has followed the slow bleed pattern of its crypto compatriots, falling from its late April highs of $21 USD to the lows of $8.71 USD, losing almost two thirds of its value in less than two months. The coin is stuck in a period of sideways movement and is currently traded at $9.13 USD (-0.20% drop in the last 24 hours). With a current market cap of $932,024,014 USD, OmiseGo is currently trying to supplant Ontology as the 20th most valuable cryptocurrency on the market.
Pros
- OmiseGo is a public financial technology built on the Ethereum blockchain by Omise, a payment company based out of Thailand. The project is designed for use in mainstream digital wallets, enabling real-time, peer-to-peer value exchange and payment services across jurisdictions and organizational silos. OmiseGo uses the proof-of-stake consensus algorithm and operates as a decentralized bank, exchange, and asset-backed blockchain gateway. The platform aims to enable financial inclusion and disrupt existing institutions, and has coined the slogan “Unbank the Banked”.
Cons
- OmiseGO is working with global conglomerates in the financial (SBI Holdings, Mizuho Bank Ltd., Bank of Ayudhya and others), mobile and e-money (TrueMoney and others), and supply-chain sectors (which cannot currently be disclosed). DMM Group and Ratuken are also a big possibility. The Thai government and all Omise’s merchants will be using the network. Also partnerships with Status, Kyber and possibly Golem, to name but a few. When the network launches this year, staking rewards will push the token value up.
