Review on OMG Network by Othere Obtentus
Scaling
The OMG Network aims to become the world's largest open market, enabling consumers to easily move virtually every commodity across boundaries and also across current payment portal giants such as PayPal. It helps you to swap Ethereum and ERC-20 tokens at a fraction of the price and at incredible speeds.
One of the main obstacles the OMG team had to overcome is to scale the blockchain. They've managed to attain this through Plasma, a blockchain scalability platform that doesn't compromise protection.
Plasma is actually a network in itself, the second surface on Ethereum, which is commonly termed the child chain. To maximize scalability, transactions are performed in batches instead of one at a time.
While the OMG Network seems fantastic on paper, in reality it has been badly devoid of meaning. In addition to repeated delays in production and missing deadlines, the OMG network has in the past been torched over misleading claims in the existence of its collaborations.
Pros
- Transfer almost any asset between countries and available payment gateways
- Built on Ethereum Network
- Scalability, decentralization, and security
- Plasma protocol for increased performance
- Supersonic network
Cons
- Frequent development delays
- Concerns regarding the total supply of the asset
- No shortage of competitors
