Review on OMG Network by Jose Luis Perez
About OMG Network
I had time without writing here and leaving a review. This time I will write a little about OMG Network.
This is a network based on Ethereum that was thought and designed to address the present scalability problems is the Ethereum network, which allows to lighten the volume of transactions that at the time causes the congestion of the network as such, said congestion has passed for a while, making operations much slower. It is an open source, public and decentralized network as is common in this type of networks.
It allows the exchange of currencies and cryptocurrency trading, with P2P operations of good performance and with a considerably low cost. It also has an ERC-20 compatible token, making it easy to store in Ethereum-related wallets.
OMG Network, was originally presented with the name of OmiseGo and since then it was destined to be used by institutions of all kinds and in that way to implement blockchain technology, leaving aside the inconvenience with the limits that exist many times regarding to the number of transactions in real time, facilitating the exchange process between individuals.
Also counting on the ease of being able to integrate with other blockchains.
Pros
- Decentralized exchange.
- It is an open source public network.
- It has the ability to run on Ethereum.
- It is compatible with the ERC-20 token.
- Lighten the volume of transactions in real time.
Cons
- In the technical aspect it has not been efficiently developed lately, that is to say with few improvements in technological advance.
- It is not the only network that offers what OMG proposes, therefore it has much more competition from other projects.
