Decentralized Exchange

OmiseGo DEX Review

If you have closely monitored Crypto market in past 2 months, the market has shown considerable growth. Especially, Bitcoin is at another level, showing who is the King in the market. Bitcoin crossed the $8K mark for the first time in last 10 months, this has created buzz among users and they are looking for investment platforms like OmiseGo.

But, there are many OmegaGo review available in market. But we have collected the latest information and made this article, which will help you in trading. So, let’s see OmiseGo DEX Review :

Introduction

OmiseGo is a cryptocurrency ecosystem where you can exchange cryptocurrency on a peer-to-peer manner (via its DEX facility) and send payments across platforms and devices. The crypto exchange launched in 2013 and seeks to answer to a variety of issues raised in regard to payment processors, gateways and financial institutions.

OmiseGo was Founded by Jun Hasegawa and Donnie Harinsut,  who are also the founders of OmiseGOs parent company ‘Omise’.

OMG is the first ERC20 token that had reached a market cap of over 1 billion USD and some of advisors were Vitalik Buterin, who is a strong supporter of the project, and Gavin Wood.

The platform aim is to unbank the banked with Ethereum in addition to enabling, real-time, peer-to-peer value exchange and payment services across jurisdictions and organization silos and across both fiat and cryptos.

Also, it refers itself to as currency agnostic in that you can convert directly from one currency to another without interconversions. For instance, if you have BTC and wanted ETH, you can do direct conversion from BTC to Eth without having to first convert the BTC to USD and then the USD to ETH. This lets you avoid excessive fees.

OMG Tokens

At the time of writing, OMG cryptocurrency was ranked 32nd with 24-hr volume of $125,774,714 USD and circulating supply of 140,245,398 OMG .

Top OMG partners and investors include SBI Investment, SMDV, SMBC, Golden Gate Ventures, Ascend Capital, East Ventures, Krungsri Finnovate, and Global Brain.

Plasma

The ecosystem isn’t a platform and is first plasma.io project. Its central asset is Ether.

Also Read About: CryptoBridge DexCounterparty DEX

How it works

The crypto exchange allows interoperability between closed payment systems (for example; Paypal, Alipay, Visa, WeChat, Apple Pay, TenX Cards). For instance, it is possible for Alipay users to send payments to PayPal users in a cross-platform manner without having to create accounts with native ecosystems in order to send payments.

The same Alipay users can send payment to users of Venmo in a cross-platform manner. Euros and USD users can also transact that way. Additionally, the ecosystem allows users to spend a number of other types of assets such as Gift Cards, AirMiles, and Rewards locked in closed systems.

The blockchain has a decentralized exchange, liquidity provider mechanism, clearing-house messaging network and asset-backed blockchain gateway. On creating the orders, they are synchronized and validated with every block in a decentralized order book. It uses smart contracts to facilitate transactions among users. In addition to this order book validation features, there is crypto pair matching and compliant clearinghouses. However, without taking full-custody of funds.

Each transaction on the network also attracts a fee, which is distributed to holders as a stake. It means the more OMG tokens held, the more fees you receive proportionally.

OMG holders using the OMG wallet application to validate transactions via proof of stake model can earn OMG tokens. Thus, buying OMG tokens buys you the right to confirm blocks.

Account types

The crypto exchange accepts two types of users, namely Individual Users. This enables individuals across the world to easily and quickly be able to send and receive assets on an open network, without needing a bank account.

The second kind of customers is the Merchants, Wallet Providers, Electronic Payment Providers. Thus, who are able to let their customers make seamless transactions or transfer money from any network to another.

Latest updates

19 May,2019 : We are happy to announce the newest release version of our network, Samrong –  the second iteration of the OMG network v 0.2.

02 May, 2019: We are thrilled to have our collaborators @omise_go, @kxismade, @hubbathailand, & @ethstatus join us for #SURGE Bangkok.

Find out more & register today: http://bit.ly/SURGEBKK

02 may 2019 :  https://twitter.com/omise_go/status/1124220025869611010

Conclusion

OmiseGO had a good phase during its ICO and shortly after, and while the buzz is not so high now, still it remains a very strong coin. It has several factors that can take it to new heights as it becomes more developed and enters mainstream usage. One of its goal is providing banking to the unbanked in Southeast Asia.

Other information

Operating in Thailand, Japan, Singapore, and Indonesia, OmiseGo is based on the ERC-20 standards. OMG developers also have access to maintained gateways, credit and virtual cards, over the counter and direct debit, and real-time settlement of transactions.

OmiseGo  DEX is advised by a variety of people from the crypto space. Including co-founders of Ethereum, Golem, Tendermint, Cosmos and even the Lightning Network.

What do you feel about OmiseGo DEX? Please share your views on our Twitter and Facebook page

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