Review on OMG Network by Mirza Ahmed

Name: OMG Network
Item: OMG Network
Rating: 5

September 12, 2018

OmiseGO is a payment platform built on the Ethereum network and designed to…

OmiseGO is a payment platform built on the Ethereum network and designed to offer payments, trades and other financial transactions in both crypto and fiat currencies. Its open-source technology includes three main features:
1)A digital wallet Software Development Kit (SDK).
2)A decentralized exchange.
3)The OmiseGO Network, which will be built to scale infinitely using Plasma architecture.
The network’s native token, OMG, is one of the world’s top cryptocurrencies by market cap at the time of this writing, and the project has generated plenty of interest throughout the crypto community.
﻿

Pros

OmiseGO aims to offer a payment gateway that can be used for an extensive range of financial services, including peer-to-peer payments, international remittances, bill payment, top-up of debit cards and much more. It’s also designed to provide interoperability between different blockchains and payment networks.

Cons

OmiseGO is far from the only project working in this particular area, and it could face competition from projects such as Request Network, Metal Pay and Kyber Network. These competing platforms could hamper OmiseGO’s ability to achieve widespread adoption.