OmiseGo is Vitalik Buterin’s favourite token model

Vitalik recently posted on his twitter account three main reasons why OmiseGo, right now, is his favourite token model. OmiseGo is not a medium-of-exchange token; it has a clear valuation model (expected discounted future transaction fees minus node operation cost); and it requires running node to get returns, not passive income (so more legally defensible). After this twitter post the prices went up by almost 100%.

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Latest news from the OmiseGo team speaks about development progress on one of the basic OmiseGo tools. OmiseGo SDK, a code framework on which developers can build their own wallet applications that will interact with the OmiseGo Blockchain. OmiseGo SDK has officially moved from alfa into closed beta and is now in the hands of one of the strategic partners, a huge multinational company that will help develop one of the first live use cases. It is not a secret that OmiseGo cooperates with the Ethereum team. What does this cooperation bring to Ethereum?

OmiseGo is Ethereum-based financial technology

OmiseGO is building its own blockchain, but not every operation will happen on it. Though basic decisional operations happen on the OmiseGo blockchain, the final delivery happens on the Ethereum blockchain. OMG is an ERC20 token.

Advisors from Ethereum

The main advisors for OmiseGo are Vitalik Buterin, founder of Ethereum, and Joseph Poon, Lightning Network co-author. This partnership promises the newest technical solutions implemented in OmiseGo systems. One of the biggest announcements, which is impatiently expected, is the implementation of plasma technology.

Plasma

Blockchain technology has many positive aspects compared to the traditional centralized database model, but the problem that needs to be solved is scalability. It means not too many transactions can happen quickly at the same time. Plasma is a solution for this problem. Plasma is the ‘child’ of Joseph Poon and Vitalik Buterin and it will make it possible to handle an extremely high amount of transactions very quickly throughout the OmiseGO network.  OmiseGO will be the first project to implement the Plasma technology.

22 COMMENTS

  1. The fact that Vitalik Buterin is supporting this project is a clear signal that it’s good. It has a solid development team and clear well thought goals, so it has a very high chance of being successful.

  2. I like OmiseGo for two main reasons. 1) It aims to help millions of people who currently don’t have access to banking services. 2) On top of helping people, it seems to be a very good business plan which can earn huge profits. With Vitalik Buterin and Joseph Poon as the main advisors, it should be heading in the right direction, so it could also be one of the best investment opportunities in 2018.

      • Like you are saying…they will help people and in the same time they will built a huge global business. Win win situation:) And their advisers are legendary, very good choice for OMG.

    • There are many good and smart people in crypto world but only few of them are top. Vitalik si one of them. OMG is lucky that it have adviser like him. I am not surprised that OMG is Vitalik’s favourite token model. He see a great potential and bright future.

  3. OmiseGo as revolutionary payment platform is one of the projects with great potential to provide payment system that would seamlessly integrate cryptos and fiat for fast payments with low fees and massive scalability. It already has great development team but with Vilalik Buterin and Jospeh Poon as its main advisors, I am sure this project would have even greater success as it would get the most advanced technology in cryptos such as Plasma and I expect this would follow success of Ethereum and would be one of the best projects in 2018.

    • Yes, I think the same because connection OMG and names like Vilalik Buterin and Joseph Poon mean in the crypto world big things. And therefore is very reasonable to invest there..

  4. I agree with Vitalik. OMG is great coin with huge worldwide potential in the financialial sphere. SDK is ready for beta testing and final version come soon and first step of OMG financial revolution will be completed.

  5. I prefer OMG project because They find the opportunity where can help people a improve this world. It is not only the next lack purpose crypto. OMG offers much more to us.

    • Yes, OMG aims to help people without access to banks, which is a nice intention. And with such a strong support from Vitalik, they are on a good way to make it happen.

  6. Connection with ETH is something extra. No many coins can say to have the partnership and support like OMG with ETH. Does anybody know how this partnership have happened? Anyway it is win for OMG and its future.

  7. This project is the project of the future for me. I choose always that project which can be here for a long time and is revolutionary in some way and OmiseGo is exactly the project which I looked for.

  8. Good idea to creating own blockchain and only part of transaction will be connected to ETH blockchain. After plasma will be completed it will be totally awesome. The newest technology and scalability problems are past.

  9. I want to have advisors from ethereum in my projects too:D Vitalik Buterin and Joseph Poon are people with open mind and their cooperation with OMG is promise of success. OMG will be one of the biggest financial services in the world.

    • The market of possible financial services is huge and OMG can connect all this “closed circles” systems by their technology. I can’t even imagine how huge this project can be in few years.

  10. Well, it looks like a OmiseGo is getting more and more publicity and it is fo sure good for it! I belive that we are going to be a witnesses of a really grat rise of this project in 2018!

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