TenX VS. OmiseGo
Similarities:
Both are:
allowing to bring altcoins to be used in the real world, providing direct intrinsic value trade
striving to become exchanges using mobile device with their own debit cards/prepaid cards
ERC 20 tokens with similar technologies where token holders are rewarded depending on the amount of transactions made in the debit cards.
Both has a growing and great supporting community.
fairly new technology so therefore hard to guarantee on the security and flaws.
The differences:
Tenx aims on individual cliental with product ready debit card and payment system using a 3rd party while Omisego aims for institutional level, corporation, and central banks where they will set up payment system mainly through their phone and blockchain wallet.
Tenx is in process of working their long-term project Comit network where it directly links individual blockchains to trade crypto to fiat and vice versa directly removing any third parties. In short, it will allow exchanges between currencies between blockchains instead of trading within the blockchain itself. Omisego on the other hand will act as the main exchange and will therefore be exchanging within the Omisego blockchain and Omise platform. Their payment system, Omise, is already in existence but their Omisego wallet is still in the works to be attached to Omise platform. In a sense, you can say that Tenx has a working product but not so ready platform which is the Comit network while Omisego does not have a working product yet which is the Omisego wallet but already has a payment system and almost ready blockchain.
Tenx has stronger PR with frequent Q&A and promoting their product on social media like youtube, FB and etc. Omisego has yet to release its product but however their strength comes in the form of adoption of Corporations, institutions and central banks using their product. So far Macdonalds in Thailand are going to be working with Omisego with a huge PR by the end of the month I heard. Also recently, Vatalik and Omisego are already in talks with Central bank of Thailand.
Tenx has a team of 20 is still growing and hiring some more. Company started in 2015 and still needs time to grow. Omise Ltd. has been around since 2013 with a large team branching from Japan, Thailand, Singapore, and Indonesia. They are still growing quick.
So, in summary they are both great projects with strong fundamentals. But to say that both are directly competing each other on the market is not really the case since the market is too big and will always have room for both (or several more of them). Both will have their own uses, pros, and cons in the market. Omisego may be revolutionizing in terms of institutions, corporations, and central banks but their challenge will be tough when it comes to competing for space in other countries like the US. This is where Tenx will be more useful since their aim or cliental is everyday people like us.
The greater the popularity grows through userbase and product adoption the more likely it will be successful. In short, both have their own strategic ways of taking over the market. Will it be the top down approach where the government and big corporation adopts the platform system of Omisego and later distributed to users like us or the bottom up approach where the popularity of userbase grows to the point where big corporations and institutions must adopt it? No matter what the approach is, the product must have these key features to be successful and boom in this market place:
Secure, anonymous, scalable, and trackable
User-friendliness to the point where your grandma or grandpa can use it.
Efficient and fast with real time exchange
Low fees or none
Uncontrollable and must be decentralized from government control.
So, in the end both projects look very solid and looks very promising. However, future challenges are still ahead with many variables. Both projects have still a long way to be able to succeed truly and have a firm place in the market.
Please feel free to correct any information, if i have made any mistakes. We are all learning in this cryptoworld.
Do invest wisely and this is not investment advise.
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