More information about OMG NETWORK
About
OmiseGO is a subsidiary of Omise, a leading online payment gateway service provider operating in Southeast Asia. The OmiseGO blockchain team has been involved in the Ethereum community from its very beginning—starting in 2015, Omise Blockchain Lab began research work focusing primarily on scalability. By the end of 2016, research had expanded into proof-of-stake (PoS) consensus design and in 2017, OmiseGO was created to achieve two goals:
- Create the OMG Money Gateway as a scaling solution for Ethereum focused on enabling payments, trades, and other nancial transactions in both crypto and at. OMG is a fully public, currency agnostic decentralized exchange (DEX) network which will be secured by Ethereum and built to scale in nitely using the Plasma architecture. The OMG Network will be able to interact with Bitcoin (or Bitcoin-like blockchains) and other blockchain platforms through clearinghouses in state channels or smart contracts, as well as with digital at platforms and economies through collateralized at tokens. This, in combination with virtually unlimited scalability, will enable the OMG Network to serve essentially all global transactions simultaneously.
- Develop the OMG open-source, white label digital wallet Software Development Kit (SDK). The SDK will be free for anyone to use and will make it easy for those who need online asset exchange as part of their business to connect seamlessly to the OMG Network. The SDK allows wallet providers the exibility to enhance, add, and customize payment solutions for many use cases.
OMG is the answer to a fundamental coordination problem amongst payment processors, gateways and nancial institutions. By enabling decentralized exchange at high volume and low cost, OMG provides a next-generation value transfer service operating across currencies and asset types, and across national borders and corporate ledgers. Through the OMG network, anyone will be able to conduct real-time, peer-to-peer nancial transactions, including but not limited to payments, remittances, payroll deposit, B2B commerce, supply-chain nance, loyalty program activity, asset management, and other on-demand services in a completely decentralized and inexpensive way, and including highly performant and fully decentralized trading.
OMG o ers mainstream end-customers an introduction to the many bene ts of blockchain technology—the wallet SDK will make it easy to create dapps that let the end user take advantage of Ethereum’s immense potential without having to leave their comfort zone.
Omise will use the OMG network as the platform for their own payments processing needs, but neither Omise nor OmiseGO will own or control the network.
Benefits of the OMG Network
Access
Through the open source, white-label SDK, digital wallet providers can connect to the public OMG network to enable users to transact any digital assets, including crypto and fiat currencies.
Security
Bonding to the Ethereum blockchain creates secure token custody, decentralized exchange of all Ethereum assets, and ultra-secure transaction validation.
Scalability
The Plasma architecture allows for unlimited scalability with unprecedented transaction speed: millions, and potentially billions of transactions per second.
Interoperability
Financial applications, such as wallets, will be able to interact seamlessly with one another via the OMG network. Users will also be able to trade assets from different blockchains protocols, like Bitcoin.
Decentralized
OMG is not owned by any central authority; it is controlled by users and validators (stakers) on the network. Through staking, token holders can validate transactions and earn fees. As the network gains value, so does the token.
OMG tokens
OMG is an ERC20 Ethereum based token and can be stored on standard Ethereum wallets including Mist, Parity, or MyEtherWallet.
It is essential that you understand wallet safety/security, and it is your responsibility to make sure you understand how to keep your tokens safe. MyEtherWallet’s Knowledge Base section includes much useful information. You can also use hardware wallets, such as Ledger or Trezor, for added security.
OmiseGO doesn’t have a proprietary end-user wallet for storing OMG tokens. OmiseGO is developing an open source wallet software development kit (SDK), which will allow anyone to make customized wallets that can integrate with the OMG network (still in development).
- Create the OMG Money Gateway as a scaling solution for Ethereum focused on enabling payments, trades, and other nancial transactions in both crypto and at. OMG is a fully public, currency agnostic decentralized exchange (DEX) network which will be secured by Ethereum and built to scale in nitely using the Plasma architecture. The OMG Network will be able to interact with Bitcoin (or Bitcoin-like blockchains) and other blockchain platforms through clearinghouses in state channels or smart contracts, as well as with digital at platforms and economies through collateralized at tokens. This, in combination with virtually unlimited scalability, will enable the OMG Network to serve essentially all global transactions simultaneously.
- Develop the OMG open-source, white label digital wallet Software Development Kit (SDK). The SDK will be free for anyone to use and will make it easy for those who need online asset exchange as part of their business to connect seamlessly to the OMG Network. The SDK allows wallet providers the exibility to enhance, add, and customize payment solutions for many use cases.
OMG is the answer to a fundamental coordination problem amongst payment processors, gateways and nancial institutions. By enabling decentralized exchange at high volume and low cost, OMG provides a next-generation value transfer service operating across currencies and asset types, and across national borders and corporate ledgers. Through the OMG network, anyone will be able to conduct real-time, peer-to-peer nancial transactions, including but not limited to payments, remittances, payroll deposit, B2B commerce, supply-chain nance, loyalty program activity, asset management, and other on-demand services in a completely decentralized and inexpensive way, and including highly performant and fully decentralized trading.
OMG o ers mainstream end-customers an introduction to the many bene ts of blockchain technology—the wallet SDK will make it easy to create dapps that let the end user take advantage of Ethereum’s immense potential without having to leave their comfort zone.
Omise will use the OMG network as the platform for their own payments processing needs, but neither Omise nor OmiseGO will own or control the network.
Benefits of the OMG Network
Access
Through the open source, white-label SDK, digital wallet providers can connect to the public OMG network to enable users to transact any digital assets, including crypto and fiat currencies.
Security
Bonding to the Ethereum blockchain creates secure token custody, decentralized exchange of all Ethereum assets, and ultra-secure transaction validation.
Scalability
The Plasma architecture allows for unlimited scalability with unprecedented transaction speed: millions, and potentially billions of transactions per second.
Interoperability
Financial applications, such as wallets, will be able to interact seamlessly with one another via the OMG network. Users will also be able to trade assets from different blockchains protocols, like Bitcoin.
Decentralized
OMG is not owned by any central authority; it is controlled by users and validators (stakers) on the network. Through staking, token holders can validate transactions and earn fees. As the network gains value, so does the token.
OMG tokens
OMG is an ERC20 Ethereum based token and can be stored on standard Ethereum wallets including Mist, Parity, or MyEtherWallet.
It is essential that you understand wallet safety/security, and it is your responsibility to make sure you understand how to keep your tokens safe. MyEtherWallet’s Knowledge Base section includes much useful information. You can also use hardware wallets, such as Ledger or Trezor, for added security.
OmiseGO doesn’t have a proprietary end-user wallet for storing OMG tokens. OmiseGO is developing an open source wallet software development kit (SDK), which will allow anyone to make customized wallets that can integrate with the OMG network (still in development).
https://omisego.network
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