OmiseGo  (OMG)

Crafted with  by Trade Crypto Live
Name Price Supply Volume Market Cap
omisego
OmiseGO
$1.22
140,245,398.00 OMG
$60,906,644.00
$171,753,371.00

QUICK STATS

Proof of Work (Decentralised Exchange supporting Proof of Stake)
Huobi OMG/USDT $17,700,500 17%
Binance OMG/BTC $14,508,200 14%
Upbit OMG/KRW $11,612,600 12%
A decentralized network for payment requests. A universal invoice platform. (Analogy: If PayPal was open sourced, decentralized and standardised)
Geared towards people with both access to banking institutions and those in countries who do not have a tradition banking infrastructure.
Bitcoin(BTC), Ethereum(ETH), Bitcoin Cash(BCH)

VIDEOS

BACKGROUND

Whitepaper Summary

OmiseGO is a public network; there is usually no bureaucracy or consent to use it. The network is instrumental in supporting business applications such as enabling interoperability of digital wallets and enabling proper and satisfactory access to the Omise Payment merchants and getaway. Since the network is public and permission-less, anyone can use it in the manner they see fit but not in a manner inconsistent with its terms and conditions of use.

Problem Solved

They came to this solution based on a problem they observed. Many people do not have secure banking options that allow them access to online and instant payment options. OMG is for all people in need of payment options, it has the slogan of “Unbank the Banked”. This allows anyone, anywhere, to request payment at any time.

Competitive Edge

Using its Request Smart audit algorithm, it can run on the blockchain and detect fraud or validate accounts.
You can transfer currency peer to peer and transfer between different types of cryptos and fiat. It’s decentralized and it will be cheaper than transferring money at an exchange like Bittrex, which isn’t decentralized, and you will be saving on transaction fees and transfer fees to move your digital currency from your wallet to an exchange. You don’t need a bank to use it which is important especially in emerging economies like Asia where people don’t have access to banking.

However, this decentralized exchange does not yet exist and is still in the works of being created. Once created, it will lower time, transaction fees, and the need for a bank backing the initial transaction to the exchange.

Development Roadmap

1 : Fuseki(布石) and Sente(先手)
The first two milestones Fuseki(布石) and Sente(先手) are in respect to the white-label /wallet SDK.
In the game Go, ‘Fuseki’ represents the whole board opening, enabling various development and strategies on the board to take place. At OmiseGO we refer to our first milestone as Fuseki because it is the opening to our series of deliverables. Over the past few months our team of designers, developers, and financial experts have been working on Fuseki with our clients and partners to design and develop priority features for the wallet SDK, ensuring end users’ needs are front and centre.
Adding further priority features and complexity to the wallet SDK, we refer to our second milestone under the name Sente. Sente is a move in ‘Go’ that retains strategic advantage for the player and controls the opponent’s response. Sente takes into account everything learnt during the workshops and the feedback received from partners during Fuseki. We expect Sente to demonstrate the value of the OmiseGO Wallet SDK and its utility in global customer loyalty programs. We are very excited to be putting Sente into the hands of developers in Q1 of 2018!
The first users and partners for the loyalty programs use-case will lead the announcement of their adoption of the wallet SDK once the solution has been fully integrated.
In parallel to Fuseki and Sente wallet SDK, the team is working on deployment of the OmiseGO network including Honte (本手), Aji (味), Tesuji (手筋) and Tengen (天元).

2 : Honte (本手)
Honte in the game of Go represents a solid move, simple and robust. In Honte, OmiseGO will deliver the OmiseGO network and lay the foundations in preparation for Plasma. Development progress and news about Honte’s public release will be shared in one of the subsequent detailed product blog posts. Honte is currently on course to be delivered in Q1 to Q2 of 2018.

3 : Aji (味)
The closest English translation of Aji (味) is ‘latent potential.’ Stemming from the Japanese term which means taste, Aji represents how stones provide options for play later in the game. In OmiseGO development milestones, the potential being added in Aji is the ability to move in and out of fiat and an interface to the Omise payment gateway.

4 : Tesuji (手筋)
Tesuji (手筋) refers to a clever and skilful move, almost to the level of a ‘trick’ play. It requires the player to read ahead and pick the best play that might be decisive to the final outcome of the game. Tesuji was chosen to represent the impressive, innovative nature of Plasma. Tesuji will utilise the foundations that were built by Honte and Aji and introduce a basic form of Plasma with a novel bonded consensus mechanism.

5 : Tengen (天元)
In combination with Tesuji, Tengen (天元) which means ‘origin of heaven’, represents the centre point of the ‘Go’ board. In the Tengen development phase, we take Tesuji and deploy it on the finished OmiseGO network: a massively-scalable, cross-chain-compatible decentralized exchange (DEx) Plasma chain.

INITIAL COIN OFFERING (ICO)

OmiseGo decided to hold private fund raising for this project which raised $25 Million. They were concerned an ICO would raise money that was not needed for the project and would cause issues with investors.
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$25 million USD from traditional investors to date.
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TEAM INFO

Creators / Founders

Jun Hasegawa
CEO – Founder
28 years’ experience

Core Development Team

Robin Clart
CTO
3 years’ experience

Donnie Harinsut
COO – Co-Founder

Wendell Davis
Product Design

Thomas Greco
Special Advisor

Vansa Chatikavanij
Managing Director

Notable Advisors

Roger Ver – CEO of MemoryDealers.com, Bitcoin.com One of the world’s first “virtual millionaires”.
Vitalik Buterin – He is a co-creator and inventor of Ethereum.
Gavin Wood – Co-Founder of Ethereum

Notable Investors

Many of the founders of Ethereum, plus private companies in the blockchain and securities space.

Trade Crypto Live Sentiment

An exceptionally well thought out project with a superstar team and advisors. Their dominance in a very competitive cryptocurrency space is telling of the potential this project is developing. There a big things ahead for OmiseGo.

Reference & Links

https://coinmarketcap.com/currencies/omisego/
https://coincheckup.com/coins/omisego/overview
https://github.com/search?utf8=%E2%9C%93&q=omg&type=
https://omisego.network/
https://medium.freecodecamp.org/the-definitive-omisego-beginners-guide-f95dcdf8635c

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