OmiseGo (OMG) is an ERC 20 token on the Ethereum network. It was designed as a scaling finance solution to accompany Ethereum, allowing transparent, peer-to-peer transactions in real-time. Its leading
motto is “Unbank the Banked” as stated on their website.
OmiseGo is trying to create a decentralized exchange, where fiat ,assets and even blockchain tokens can be traded easily. Omise is the company behind the development of OmiseGo, however they do not own the network. It is run on a decentralized proof-of-stake consensus mechanism, with Omise acting as global integration solution for OmiseGo, linking the blockchain to the real world.
The main benefit of a decentralized marketplace and exchange is the fact that no entity can have unilateral control, thus reducing security risks and making fees very, very low.
OmiseGo is on the most well-known currencies in the crypto space, and will be adapting the Plasma scaling solution for Ethereum.
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