If you are the fence sitter, the truth about OmiseGo (OMG) might not have come at a better time. Every enthusiast in the cryptocurrency market is trading carefully after the recent crash scare but OMG gives you hope in the backdrop of the current uncertainty in investing digitally.
OmiseGo is number 18 in terms of market capitalization. It is the only coin in the top twenty with the highest gain of 6.91% in the last 24 hours. It is now trading at $20.17. OmiseGo, like other coins, was also affected by the January crash-scare but looking its February trends, March is giving the investor some green light.
What is the Hype around OmiseGo (OMG) all about?
To the layman, the hype is simply because OmiseGo is souring, however; there is more than what meets the eye. OMG is an ICO currently riding on the smart contract supported blockchain, Ethereum. After its first ICO last year, OmiseGo is at it again and has all the visibility a successful ICO can ever have thanks to the confidence Ethereum has in the industry.
OmiseGo neutrality has endeared to many digital coin livers; it is the bridge between other cryptocurrencies and fiat. This is a gap that Bitcoin failed to address on the onset. Bitcoin is designed to rival instead of complementing and integrating fiat money in the system.
OmiseGo (OMG) gives fiat a place in the blockchain technology thus becoming the only seamless platform of conversion. The decentralized software is universal as it allows you accept any form of money from your customers. The beauty of it all is they have a decentralized exchange (DEX) that will be supported by their Software development Kit (SDK).
How Does the OmiseGo System Work?
This could be the simplest system in the cryptocurrency world that is set to interrupt how businesses are run. You need to own some fiat or cryptocurrency either in a virtual wallet or online. You walk to an OmiseGo affiliate shop, select the product you need and use your smartphone to make payments. You simply need to have some fiat or cryptocurrency to pay for your bill.
Once you make your payment, the OmiseGo system will convert the currency you sent to what the vendor accepts. If your vendor accepts fiat money, they get exactly that. The system deducts the right amount of money from your smartphone application and sends it to the vendor address to the smallest micro-payment.
Sounds like fun, Huh? Below are more reasons why OmiseGo is your best bet for 2018. Smart money is here to stay and is what is trending thanks to OmiseGo.
Why is OmiseGo the Best Bet for 2018?
Firstly, value and convenience should never be separated. The OmiseGo (OMG) project has been hailed by the Ethereum founder Vitalik Buterin as being one of the best cryptocurrencies ever. Although he is part of the OmiseGo advisor. He submits that the platform is on the right track. His argument is based on the capabilities of the Lighting Network. This will be supplemented by the Plasma Network which is yet to be deployed in the network.
Secondly, OmiseGo is set to unleash the Stripes software. This will handle the networks on site sales and transactions. This is a software being used by thousands of vendors globally and will be easy to integrate according to the Forbes Magazine. Some of Stripe users of repute include Target, UNICEF, Facebook and Lyft.
Thirdly; given that Omise as a company has been in active practice in South East Asia in the peer-to-peer currency processing sector for over 5 years, rolling out the same on a blockchain environment should be an easy shot. Adopting Plasma and Stripes will be the best thing that has ever happened in modern economies; Plasma promises to increase transaction speeds and significantly lower the fee. This will see a million transactions go through OmiseGo (OMG) network in one second!
Lastly, OmiseGo users will only be required to keep one wallet for all their cryptocurrencies and fiat money transactions. You do not have to own the same number of private keys as the number of cryptocurrencies you own. OmiseGo offers a single wallet for booth cryptocurrency and fiat money. This is an innovative way to “bank the unbanked”.
Whether OmiseGo (OMG) takes a dip or not, it a sure fire bet for any investor looking for a cryptocurrency that accommodates fiat. However, you need do a background check and see if OmiseGo fits the kind of future system you are looking for.