Presentation and definition of the crypto-currency OmiseGo (OMG)

Presentation and definition of the crypto-currency OmiseGo (OMG)

  • Name of the crypto-currency : OmiseGo
  • Acronym : OMG
  • Where to buy the Omitted Go ? Binance
  • Creation Date : July 2017
  • White paper of OmiseGo
  • Website OMG

The protocol OmiseGo

OmiseGo is an open source protocol decentralized, which allows transactions in crypto-currencies through a digital portfolio. The objective of the project is to create a huge network peer-to-peer to cross all the blockchains and all systems of payment existing. This would provide a more practical and ergonomic to the general public. Indeed, a user who has Bitcoin may not pay in the Ether and vice-versa. OmiseGo, and is therefore an intermediary that links the various currencies, cryptographic and facilitates the transaction.

The objective of OmiseGo

OmiseGo provides communication gateways between the blockchain and the financial institutions, in order to make possible the conversion of assets to digital fiat currency. The system OmiseGo also allows you to reach people in non-bancarisées.

The blockchain

The system uses a proof-of-validation by issue to validate the blocks in the blockchain. Thus, a user who holds the chips OMG can potentially participate in the process of validation of transactions.

The tokens OMG

The network OmiseGo uses of the chips OMG. These are tokens ERC20, that is to say that their value is indexed on Ethereum. OmiseGo has been funded through an ICO, “the initial corner offering”, a crowdfunding in the world of crypto-currencies. Following the ICO, 65.1% of the tokens were sold to investors. An Airdrop was distributed free of charge 5% of the units. The company carrying the project has retained 20% of the chips and the development team has received 9.9 per cent. The emission limit of chips OMG has been set at 140 million units.