1 Level
12 Review
9 Karma
Review on OMG Network by DAT PHAM DUC
Welcome to the OmiseGO Info Sheet from White Paper Pagoda. Below we have the…
Welcome to the OmiseGO Info Sheet from White Paper Pagoda. Below we have the OmiseGO white paper which can be read on this site or downloaded for future reading. We also include other useful information to assist your research, including links to exchanges so you can buy OmiseGO today. OmiseGO is a public Ethereum-based financial technology for use in mainstream digital wallets, that enables real-time, peer-to-peer value exchange and payment services agnostically across jurisdictions and organizational silos, and across both fiat money and decentralized currencies.
Pros
- In order to perform interchange of assets it is required that an order be placed across many different pairs on the open public market, requiring a decentralized orderbook and trading engine. The trading engine is built into the OMG blockchain, with orders being published, and matches made, as part of every block as soon as a matched order has reached a sufficient number of valid confirmations. This results in a non-custodial decentralized exchange held by a single party where the eWallet platforms may exchange onto other eWallet platforms without centralized trust.
Cons
- OmiseGO’s goal to build a peer-to-peer payment network that can be used by anyone with a phone without the need of a bank account is definitely revolutionary. However, OmiseGO is not the only one trying to make this happen. OmiseGO’s slogan vying to “Unbank the Banked” reveals how big the project’s ambitions are. The technology behind OmiseGO makes it a platform supporting multiple applications like white-label software development kit (SDK), digital asset gateway, decentralized exchange and clearinghouse.
