1 Level
11 Review
3 Karma
Review on OMG Network by Prisca Unegbu
OmiseGO is building a decentralized exchange, liquidity provider mechanism…
OmiseGO is building a decentralized exchange, liquidity provider mechanism, clearinghouse
messaging network, and asset-backed blockchain gateway. 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.
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
- poor social media updates
