Review on OMG Network by Mr Benji

Name: OMG Network
Item: OMG Network
Rating: 4

June 25, 2019

OmiseGO

- OmiseGO is building a decentralized exchange, a mechanism providing liquidity, a network for exchanging billing messages and a covering, blockchain network gateway. OmiseGO is not owned by any single organization. Instead, it is an open, distributed network of validators that affect the behavior of all participants. The project uses a token protocol mechanism to create a proof-of-stake based blockchain that allows the enforcement of market activity between participants. This highly efficient distributed network encourages exchanges between asset classes, from issuers with fiat currencies to fully decentralized blockchain tokens (in ERC - 20 format). In contrast to almost all other decentralized exchange platforms, it allows decentralized exchange for other blockchains and between them in a direct way and excludes a trusted network gateway.

- Markets may be able to significantly reduce spreads and encourage market insurance through decentralized supervision and greater transparency of market activities. This status can be achieved through intelligent contracts, protocols based on tokens forcing the market to behave correctly when combining orders on the stock exchange, and the new Ethereum design for external enforcement of settlement platforms and commitments to historical data exchange using smart contracts built on Ethereum.
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Pros