Review on OMG Network by Sheila Cova
OmiseGO Project
It is a payment platform created on the Ethereum blockchain technology, whose purpose is to become the first truly peer-to-peer cryptocurrency exchange platform, that is, acting without clients or fixed servers in real time.
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Pros
- It offers a digital infrastructure for transfers, disbursements and asset management, that is, a decentralized payment network for cryptocurrencies and fiat money that operates internationally.
- It is also addressed to that part of the public that does not have a checking account in a traditional bank (which is more frequent in Asia).
- Decentralization 2.0: OmiseGo is not a mere token, but rather a decentralized payment platform where cryptocurrencies and fiat money can be exchanged without resorting to centralized exchanges like Coinbase, Bitfines or Bittrex.
- Costs: Most exchanges usually charge a fee for the conversion of fiat money (EUR, USD ...) to virtual money (Bitcoin, Ethereum ...). The OmiseGo currency allows the same conversion, no matter what currency is being exchanged, always charging a fixed commission regardless of the currencies or tokens.
- Speed: Unlike Bitcoin, with a relatively slow validation process, the OmiseGo network has a liquid enough market with which to execute faster transactions.
- OmiseGo wallet: the virtual currency also offers a white label wallet, with which the user can send, pay and receive their Omisego coins completely free and safely.
Cons
- OmiseGo technology does not conceive of mining. The company has full control over the number of coins in circulation, having released some 100 million GMOs so far.
