OmiseGO (OMG)

Global transactions with low fees

#65

Marketcap Ranking

0.507446 (3.59%) arrow_drop_up

Market Price (24h change)

71,167,006

Total Market Cap

3.6

3.3

info_outline What is OmiseGO

4.5

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OmiseGO Short Description

OmiseGO is building a decentralized exchange, liquidity provider mechanism, clearinghouse messaging network, and asset-backed blockchain gateway. OmiseGO is not owned by any single one party. Instead, it is an open distributed network of validators which enforce behavior of all participants.

It uses the mechanism of a protocol token to create a proof-of-stake blockchain to enable enforcement of market activity amongst participants. This high-performant distributed network enforces exchange across asset classes, from . at-backed issuers to fully decentralized blockchain tokens (ERC-20 style and native cryptocurrencies). Unlike nearly all other decentralized exchange platforms, this allows for the decentralized exchange of other blockchains and between multiple blockchains directly without a trusted gateway token.

Markets may be able to signi. cantly reduce spreads and encourage market assurance via decentralizing custody and increased transparency of market activity. This is achieved using smart contracts, protocol tokens enforcing correct market behavior of order book matching, a new construction of Ethereum bonded external enforcement of clearinghouse activity and commitments to historical exchange data for use with Ethereum smart contracts..

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OmiseGO Explanation Video

OmiseGO - OMG Network | OMG Pool

OmiseGO is building a permissionless network of value: OMG Network. OMG Developer Program (ODP): https://developer.omisego.co Video by OMGPool (https://twitter.com/omg_pool) - Sign ...

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omisego.network
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build OmiseGO Product Analysis

4.4

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OmiseGO Whitepaper

OmiseGO is building a decentralized exchange, liquidity provider mechanism, clearinghouse messaging network, and asset-backed blockchain gateway. OmiseGO is not owned by any single one party. Instead, it is an open distributed network of validators which enforce behavior of all participants.


The whitepaper of OmiseGO is 16 Pages long.

The most influencial keywords are: Network, Blockchains, Payments, Decentralized, Exchange, Execution, Contracts, Token, Activities, and Clearinghouse.

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OmiseGO Competitors

  • 1.) NEM

    NEM is a cryptocurrency and blockchain platform for smart digital assets. Main new feature in NEM includes Proof of Importance (POI), new consensus algorithm, and smart asset system.

  • 2.) BitShares

    BitShares is a public, blockchain-based, real-time financial platform. It provides a decentralised asset exchange. BTS is a cryptocurrency token, which can be transferred between accounts, and is used to collect fees for network operations and as a collateral for loans.

  • 3.) Komodo

    The Komodo Platform focuses on providing complete end-to-end blockchain solutions for developers of any level and any industry. It is simple yet powerful, offering customized blockchain solutions that are easy to deploy, and configurable to meet your needs.

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OmiseGO Product Analysis

OmiseGO was founded back in June 2017. Its source code was released publicly on github on March 2018 under the Apache License 2.0 license.
Organization wise, OmiseGOs Development is Centralized and is being developed under the lead of Frederico Araujo.

The consensus on which the OmiseGO network is run is called Not mineable, while the underlying algorithm is called None.
In the current state of OmiseGO currently is On-going development

group OmiseGO Community Analysis

4.0

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OmiseGO Communities & Events

At OmiseGO, we believe that having access to financial services can improve lives. OmiseGO is a technology first company whose mission is to enable people to securely access financial services, invest, exchange and spend digital assets anytime, anywhere through the OmiseGO platform. Our teams of experts offer tailored, technical consulting services and solutions to businesses seeking to transition into an increasingly digital economy.

view_list r/omise_go Subreddit
person 42,963 Subscribers
directions_run 631 Active Users
create 1 Daily Posts
speaker_notes 39 Daily Comments
linkOpen Subreddit

This is unofficial OmiseGo Telegram Group. https://omg.omise.co/

view_list Omise GO (Unofficial) Channel
person 6,895 Members
directions_run 361 Online
linkOpen in Telegram

Official Twitter account for OmiseGO

view_list @omise_go Channel
person 280,375 Followers
03.14.2020
11:09
Final Update: Ropsten and OMG Network V1 are back in business! Blocks 16,000 and 17,000 are submitted. And deposits, transfers and exits are fully functional. #omgnetwork #ropsten 85 favorite
03.13.2020
14:27
Update: Ropsten still isn't 'stable' but due to our resilience algorithm blocks 16,000 and 17,000 are mined. We're confident that the child chain will recover as Ropsten does. We'll monitor the situation and give you an update tomorrow. #omgnetwork #ropsten 52 favorite
03.13.2020
09:50
Update: Currently, on the OMG Network V1 Testnet, blocks 16,000 and 17,000 have been submitted, but not mined on Ropsten. The child chain will try to resubmit those blocks, once the Ropsten returns to normal block production. #omgnetwork #ropsten 42 favorite
03.13.2020
08:52
Announcement: Ropsten, the Ethereum testnet that the OMG Network V1 Testnet is deployed on, has stopped producing blocks. Note that during this time our testnet services may be interrupted. We will continue to monitor and provide updates as the situation develops. #omgnetwork 54 favorite
03.12.2020
12:37
We're happy to announce that our testnet is updated and back up and running after an hour of downtime. Note, that contract addresses have changed but APIs and API end-points haven't. #omgnetwork #testnet #ropsten https://t.co/LLciWbqc2M 74 favorite
03.10.2020
16:20
This react-starter-kit lets you do more with omg-js than the previous version, such as giving you more integration examples and letting you perform more key interactions on the OMG Network. #omisego #omgnetwork https://t.co/0oFnemVmqk 80 favorite
03.10.2020
03:47
(1/2) Late last week, we discovered a critical bug in our root chain plasma-contracts v1.0.3. We've already merged a fix and will release more details once we complete validation. 64 favorite
03.03.2020
17:35
(3/3) And lastly, check out the sleek OMG Block Explorer, a nifty tool that helps you search for any transaction (and more) on the #omgnetwork https://t.co/J0Vyab5Ypr 65 favorite
03.03.2020
17:34
(2/3) We’ve also released a brand spankin’ new Web Wallet which you can use transact on the testnet without writing a single line of code (requires Metamask for launch). Use the guide in our freshly revamped documentation site to get started! #omgnetwork https://t.co/CDR1VSU4S6 65 favorite
03.03.2020
17:33
(1/3)The beginning of March brings good news! You’re invited to explore our newest public testnet: OMG Network V1. Deployed with our audited root chain contracts, this testing environment is the closest you can get to being on Ethereum Mainnet.#omgnetwork https://t.co/zAl7WXD3tg 138 favorite

There are no events for OmiseGO in the next 3 Months

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OmiseGO Google Trends


The Google Trends chart displays the search interest on google in OmiseGO relative to its peak over the last year. A rising chart shows growing interest int he project.

code OmiseGO Development Analysis

3.8

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OmiseGO Github Analysis

Code Updates (Commits)


Every change to the codebase of OmiseGO is registered as a commit. More active projects have many commits, dead projects nearly none.

Code line changes (+/-)


Extending a project results in many new lines of code. Changing existing code results in nearly the same amount of additions and deletions. Projects that are growing show a large number of code additions with relatively few deletions.

Programming languages

Repository Numbers

star 175 Stars
remove_red_eye 33 Watchers
usb 41 Forks
sync_problem 126 Open Issues
border_color 0 % Comment Coverage
lock_open Apache Licen License

attach_money OmiseGO Price Analysis

3.4

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OmiseGO Price Prediction

$ 0.501282 (-0.66%) arrow_drop_down

Predicted USD Market Price in 24h by Coinpaper

$ 0.581504 (15.24%) arrow_drop_up

Predicted USD Market Price in 14d by Coinpaper

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Converter OMG - USD

Convert between OMG and USD with the live OmiseGO prices, aggregated from all big exchanges that trade OmiseGO.


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Market insights

Volume from exchanges is considered untrusted if the exchange has little reputation and no License but reports suspiciously high trading volume in particular coins.

account_circle OmiseGO Team Analysis

4.9

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OmiseGO Team

OmiseGO Lead

Jeremy Lam - Product lead at omisego
Jeremy is the product lead for OmiseGO. Jeremy has delivered solutions as an independent consultant in the investment banking industry for over a decade in Tokyo, Europe, Singapore and Australia.


supervisor_accountSocial Network Links

OmiseGO Team Members (47)

Frederico Araujo

Cio

launch

Jun Hasegawa

Ceo / founder

launch

Donnie Harinsut

Coo / co-founder

Wendell Davis

Product development lead

Thomas Greco

Special advisor

launch

Vansa Chatikavanij

Managing director

launch

Piotr Dobaczewski

Software engineer

launch

Paweł Peregud

Software engineer

launch

Kridsada Thanabulpong

Software engineer

remove_red_eye OmiseGO Product Review by Coinpaper

3.4

Product description

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Storming the market to compete with the other altcoins, OmiseGO comes with the aim of becoming an exchange, asset-backed blockchain and most importantly a decentralized bank that could be used to make payments to anyone anywhere around the world. The network gives you the freedom to work with both cryptocurrencies and fiat (USD, EUR …) currencies as well. The marketing strategy of OmiseGo targets people who are not already using banks for transaction, and their focus areas include, India, Japan, and China.
OmiseGo defines its goal as trying to become a ‘’preeminent high-value exchange and a settlement platform’’. The purpose behind its advent was to build a user-friendly platform that could connect different methods of payment, be it in the form of some cryptocurrency or any fiat currency. Now, this vision is not something new and has been expressed by many crypto-technologies before. OmiseGo takes the lead with its new technology called Minimal Viable Plasma, which is built upon the Ethereum Network. This technology aims to multiply the available throughput of transactions per second (Poon, 2017).

3.5

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The actual product of the OmiseGo blockchain is aimed at achieving the execution of the Minimal Viable Plasma network that will render it to generate high throughput rates. However, the technology is not developed fully and there are still some major hurdles to overcome for its smooth integration and execution. The initial deployment and testing phase of OmiseGo commenced in February 2019 (Crypto Index, 2018).

3.4

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OmiseGo is a blockchain-based product of the Omise Company. The CEO of Omise is Jun Hasegawa. Jun founded the project with Donnie Harinsut when they both worked for the Ethereum blockchain. In fact, Ethereum’s founder Vitalik Buterin has been one of the prominent advisors for the OmiseGo blockchain cryptocurrency.

4.3

How things stand

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OmiseGo has remained an unpopular coin for a long time largely because of its not-so-impressive marketing strategy. It has not been around much in the news and no major scandal has hit the coin, whether good or bad. The main setback that the project is facing is that the Plasma Network has not yet been developed. Timely development and execution of the plasma network will likely be a future project. Lately, rumours have been circulating in the market that OmiseGo has appointed a new CEO because the former CEO couldn’t meet up with deadlines and delivery of the important projects. The new CEO has been identified as Vansa, but there is no information available to the public concerning her.
The technology has been developed under the advisory supervision of Vitalik, the founder of Ethereum. People are hopeful about the technology partly due to his involvement in its development (Pandorasbox, 2017).

3.5

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Despite the fact that OmiseGO is a project being developed under a very competent team, the mainnet (official live version) of the blockchain has still not being delivered even after two years. The GitHub repository shows a very slow development history. There is not much code commits each day, a large number of which are also simple minimal changes which should not be considered as upgrades of considerable importance.

2.5

Pro-Contra

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Security OmiseGo is an ERC-20 token and is security-wise strong because of the Ethereum blockchain.
Transaction cost The transaction costs are similar to that of the Ethereum network.
Enery consumption OmiseGo is based on the Ethereum network, therefore, its energy requirements are low as compared to other major cryptocurrencies.
Decentralization OmiseGo is a decentralized ERC-20 Token.
Exchange availability The coin is available on the major trusted exchanges.
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Adoption The acceptance rate is low as no official partnership has been announced.
Transactions per second The plasma technology aims to maximize the throughput which will allow many more transactions to be processed every second. The Plasma technology isn't developed yet.
Transaction speed Bound to the Ethereum network or the Plasma technology, that’s not developed yet
Product availability The prototype is not yet available, and there seems not to be too much progress lately.
Privacy Transactions with OmiseGo are pseudonymous and can be tracked.

remove_red_eye OmiseGO Market Review by Coinpaper

3.3

Foresight

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The prediction for OmiseGo is very straightforward. Its success depends greatly on whether the team successfully completes the development of the Plasma technology in time. If for some reason they lag behind, there is the possibility that it will die down as other several altcoins. By the recent progress of the team, it doesn’t look like the development will take place in time.

3.0

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The main project that hyped up the arrival of OmiseGO was the minimum viable plasma technology. It will allow the Ethereum-based blockchain network to generate maximum data through adding rates to enable fast cross-payments.
Another project that the Omise team has announced is that they are trying to establish a cryptocurrency exchange of their own. The exchange will be known as GO.Exchange.

3.0

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The potential is huge and the time is short. Many altcoins are working on a technology that could connect banks and online transfers to their blockchain network. Whoever builds the technology first will be successful in capturing the market and will lead the race on global dominance.

4.8

Business

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The vision to become a decentralized bank has been shared by many other altcoins. As it stands, OmiseGo’s biggest competitions are Ripple and Stellar Lumens. OmiseGo is focusing on people who do not have easy access to banks and is providing them with a platform to send and receive funds using its network.

2.5

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OmiseGo has not entered into any major partnerships, mainly because the team has not completed its work on the development of the mainnet. The blockchain’s connections with the Omise Company will prove to be substantial for its widespread acceptance and what it intends to achieve in the near future.

2.5

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OmiseGo has managed to maintain a huge and somewhat reliable community. OmiseGo was launched and marketed as OMG in September 2017.

3.8

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OmiseGo team is headed by Jun Hasewaga and Donnie Harinsut. Another major contributor to the Minimal Viable Plasma technology is Vitalik Buterin, the founder of Ethereum.

3.4

compare_arrows OmiseGO Exchanges

OmiseGO Markets

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# Exchange Pair Price 24h Volume Trusted
# 1 Binance OMG/BTC $ 0.506603 $ 210,087 check
# 2 Binance OMG/USDT $ 0.506955 $ 181,298 check
# 3 Bitfinex OMG/USD $ 0.507390 $ 81,217 check
# 4 Bitfinex OMG/BTC $ 0.509155 $ 16,190 check
# 5 Bittrex OMG/BTC $ 0.507623 $ 15,484 check
# 6 Binance OMG/ETH $ 0.507079 $ 13,081 check
# 7 Kraken OMG/EUR $ 0.505123 $ 8,386 check
# 8 Poloniex OMG/BTC $ 0.504880 $ 6,016 check
# 9 Kraken OMG/BTC $ 0.506800 $ 3,020 check
# 10 Kraken OMG/USD $ 0.504592 $ 1,113 check

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