1 Level
14 Review
7 Karma
Review on OMG Network by Greg Mentayor
OmiseGO is building a block chain for credit-free and password-currency…
OmiseGO is building a block chain for credit-free and password-currency transactions.
Traditional assets and securities transactions involve various organizations and companies. There is an information center that allows each party to provide a portion of the transaction. There are liquidity providers with many securities to facilitate the sale. Finally, there is an exchange that connects buyers and sellers in a single market. Traditional systems require trust for each organization.
Pros
- The OmiseGO platform has three components: the OmiseGO chain, the interoperability tool and the payment channel. The OmiseGO chain addresses the business logic of a token transaction. Interoperability tools allow you to connect to other public block chains, such as Bitcoin and Ethereum. The payment channel is used as an off-chain scaling mechanism. OmiseGO Blockchain is a smart contract environment. Use proof of stake with a sensible algorithm. An inspector needs an OMG to create a block. When Validator behaves honestly and produces the right blocks, transaction fees are generated. In the future, validation can be transferred.
Cons
- It's hard to tell right now.project relatively ne
