Thank the Review of Finance category in the State of The DApps I have a chance now to see what is OmiseGo all about. The only thing I know is that OmiseGo is a token and it is in top100 but I never knew what it is about and how does it work and why it exists. And I know that it is built in the Ethereum Blockchain.
What is OmiseGO?
OmiseGO enables financial inclusion and interoperability through the public, decentralized OMG network.
Reference
OmiseGo is based on Ethereum and has a Proof of Stake algorithm. Its platform is a decentralized payment network that creates an open financial system. The main goal of OmiseGo is to provide a solution for problems that occur during the payment processes of the different financial institutions. It has its own ERC-20 TOKEN with a sign of OMG (it looks like Oh my God )
Features
Overview
My thoughts
OmiseGo is a hard project, it looks like it is not for everyday life. And it takes time to understand what is the purpose and how does it work. To understand OmiseGO you need to spend a lot of time to read what is the project about and how does it work. As I could understand still the platform is under development. The team works hard to realize their goals based on their roadmap. And I saw that the last time that they informed the public about the news was more than four months ago. I like that the platform uses PoS algorithm and the Plasma is the most interesting part of the project(see the reference below). I think the team has to work harder and simplify a project a little bit. Or make a way for people to understand the project faster.
Plasma — A Blockchain Scalability Framework
Plasma is a framework for building scalable blockchain applications without sacrificing security. A plasma chain is its own blockchain and can have whatever functionality and consensus mechanism the builder desires.
Reference
What is State of the DApps?
State of the DApps is a not-for-profit curated directory of Decentralized Applications, also called DApps, which run on various several blockchains. State of the DApps was initially created to categorize and showcase developed projects built on the Ethereum Blockchain, but more recently we have added support for EOS, POA, and Steem as well.
