OmiseGo (OMG)

OmiseGo (OMG) widget

ICO date: 25.06.2017 - 25.06.2017
Industry: Banking & Payments
Description:

A decentralized exchange, liquidity provider mechanism, clearinghouse messaging network, and asset-backed blockchain gateway. Unlike nearly all other decentralized exchange platforms, OmiseGo allows for decentralized exchange of other blockchains and between multiple blockchains directly without a trusted gateway token

Features:

- Providing alternative financial and digital commerce tools for everyone without having to go through traditional banks, institutions and card networks - Through the OmiseGO network, anyone will be able to conduct financial transactions such as payments, remittances, payroll deposit, B2B commerce, supply-chain finance, loyalty programs, asset management and trading, and other on-demand services, in a completely decentralized and inexpensive way - Token holders will be eligible to earn transaction fees for interchange payments and decentralized exchange

Founded: Singapore
Technical details:

OMG will be a standard Ethereum ERC20 token, until the OmiseGO chain (“OMGchain”) is launches. When OMGchain is launched, ERC20-OMG will be depreciated, and holders will be moved over to an equivalent token on the new network. The OmiseGO blockchain is a decentralized exchange, liquidity provider mechanism, clearinghouse messaging network, and asset-backed blockchain gateway. It is a scalable blockchain whose Proof-of-Stake (PoS) consensus is bonded to ensure that the chain behaves according to the rules specified in the protocol. The network is designed as a high performant system leveraging an interlinked blockchain construction: while clearing and settlement occurs over the OmiseGO blockchain, the costs of protecting transaction value is externalized to other chains in ways that directly promote the value of those chains. Additionally, to ensure end-customers are able to fully interact with the OmiseGO network, in Q4 2017 will be available at no charge the white-label digital wallet software development kit (SDK). This digital wallet (e.g. stored value facility) will be first of the many financial applications to be running on the OmiseGO network.

Website: omg.omise.co
Whitepaper: Whitepaper

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See also