1 Level
9 Review
7 Karma
Review on OMG Network by Shalini Saxena
OmiseGo token
The technology of OmiseGo is based on the decentralized blockchain network of the Ethereum network. It is created with the application of the Plasma architecture. This is done to ensure the rapid speed, true financial and industry grade solutions and good security as well. It does by ensuring the direct peer to peer transactions and the usage of decentralized Apps and smart contracts as well. It can be created on the Ethereum layer and also allows the use of the technology of Ethereum.
By employing the application of Ethereum technology, the OmiseGo aims to offer global financial and banking solutions. These solutions include but are not restricted to the conversions of currency, remittances, the debiting and crediting of money etc. To people who have a bank account and to those who don’t have a bank account as well.
OmiseGo token, OMG is considered the fuel of the Plasma technology. This is expected to boost the transactions involving the cryptocurrencies. People who hold the OMG tokens are sure to make some extra profits through the plasma network.
Pros
- The OmiseGo is not just to carry out the peer to peer transactions, unlike the Bitcoin.
- OmiseGo can be majorly applied in the financial sector and especially where large transactions and currency exchanges are involved
Cons
- People are advised to be careful before making an investment in the cryptocurrency because what rewards are promised are not always delivered.
- Omg is being considered over ambitious
