OmiseGO (OMG) Coin Story, Vision and Latest to Stay Updated
One of the best recoveries in price the last days is OmiseGO’s OMG against the US Dollar as its trading pattern was performing even lower than the leading coins when the bears had their saying. Per time of writing: 3.87% gain in the lat 24-hours reaching $4.86.
Facilitated on the Ethereum blockchain, OmiseGO is a decentralized way of transferring and exchanging money or any token value.That with no virtual geographical boundaries. Being advised by the man behind the giant Ethereum Vitalik Buterin and the co-founder dr. Gavin Wood and author of Plasma and Lightning Network – Joseph Poon, make the work of the team more hyped about and very promising.
It is like a digital wallet you keep with yourself being stored on your phone and accessible as easy as any social network application you use. Requiring only internet it could be a solution for many that do and do not use a bank for their money transferring. Keeping in mind that in many parts of the world registering for a bank account is almost impossible, as OmiseGO team calls them the unbanked, OMG could possibly save time, energy and money while being very low in fees.
“Look at financial systems today. Look at banks. There are barriers to entry, to just getting an account…. Our view… is that having the ability to transact money easily should be seen as a human right.” – Vansa Chatikavanij, OmiseGO’s managing director
The technology behind OmiseGO makes it a platform supporting multiple applications like white-label software development kit (SDK), digital asset gateway, decentralized exchange and clearinghouse.
Stanford University computer scientists, the Ethereum Foundation, Protocol Labs, the Interchain Foundation, OmiseGO, DFINITY Stiftung and PolyChain Capital, have unveiled the Center for Blockchain Research, an ingenuity fashioned to enhancing blockchain technology research in a bid to fortify the mode of financial dealings over the internet.
A release by Stanford University indicated that the research center is led by Dan Boneh, a Professor of Computer science in the School of Engineering and an expert on cryptography and computer security, and David Mazières, who is also a Professor of Computer science.
OmiseGO’s team is preparing to commence its own network called Tesuji Plasma which is being tested right now. GitHub’s repository made it available for download to interested crypto enthusiasts. However, the incomplete nature of this milestone limits the users from applications in the real world as of now.
The idea on which the team is working hard is that the new network will handle and support the management of coins in general making sure that the OMG tokens and deposits are transfers/made safely and with no issues.