Cryptocurrency OMG: coin price and predictions of the project OmiseGO

OmiseGO logo

ICO of the project -  09.2017

Standard of the token – ERC20 Ethereum

Listing -  https://coinmarketcap.com/ru/currencies/omisego/markets/

Market capitalization – approximately $114 million USD

Total emission –  140 245 398 OMG

In circulation  -  140 245 398 OMG

Coinmarketcap rating - № 53

Maximal token price over the time - $28,35 USD

Minimal token price over the time -  $0,31969 USD

 

Website of the project -  https://omisego.co/

Blog -  https://omisego.co/blog

Twitter -  https://twitter.com/omise_go

GitHub - https://github.com/omisego

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OmiseGO – is a project of the company Omise, founded in 2013 and actually operating in the market of the South-Eastern Asia with its offices in Thailand, Japan and Singapore.

Having organized a modern and convenient service for acceptance of payments for goods and services over the time of its work, the company formed a reliable and trustworthy reputation, as well as large client base within the segments of small and medium enterprises.

By 2017, the company, having evaluated the viability of the potential of the cryptocurrency segment (especially in the sphere of international transactions), focused its attention on development of decentralized solutions, which led to creation of in a way “revolutionary” platform OmiseGo.

 

The foundation of the global idea of OmiseGo is grounded on the challenge to existing financial structures, in the spirit of “Unbank the Banked”, and implementation thereof provides users with an opportunity to send/receive, and also pay/accept payments through the network (on the basis of Ethereum), without using an account in a bank and, consequently, not paying bank commissions for transactions.

It is intended to become a direct competitor to traditional banks and payment systems. The technological solution is simultaneously combining currency exchange and payment service.

A buyer can pay the invoices in the currency that he has, and a buyer is deposited with the funds in the fiat currencies that are convenient for him or cryptoassets that are required for him. While possessing the serious experience gained in the payment system, the developers have concentrated on solution of the major problems of numerous cryptoassets, decentralization, scalability and speed of transactions, as well as fundamental issues of interaction between payment systems, gateways and financial systems. Having provided the decentralization of exchange transactions on public smart-contracts of large volumes and low price, OmiseGo implemented a service of transactional performance of the next generation, realized in the various assets.

Thus, the financial component of the technology of OmiseGo can be utilized by popular wallets, and also by payment systems in locational jurisdictions, where such services have been marked with poor development or have been even lacking; work both with cryptoassets and traditional fiat is possible.

 

Thanks to the blockchain-network of the platform (linked to Ethereum network), one can conduct transactions of various formats and status: payments, remittances, wages payment, B2B, financing of supply, assets management, trade – really decentralized and economical.

Millions of users have obtained an opportunity to switch from utilization of traditional financial assets to utilization of cryptoassets, such as BTC, ETH and many others.

Access to the platform is enabled by the network OmiseGo and the wallet (Wallet SDK), allowing to easily create new wallets, integrate them with various payment systems and even implement them into internet shops.

 

As it has been already mentioned above, in order to ensure effective working capacity of their concept, the developers have applied a number of edge-cutting technologies. These technologies might include utilization of Ethereum smart contracts, built on the sidechains and child chains (Plasma), as well as application of the algorithm of the Proof of Stake (PoS) coupled with Proof of Authority (PoA).

In other words, decentralization is being reached by means of utilization of “smart-transparent” smart contracts Ethereum of the standard ERC20. Scalability and speed (up to 4000TPS) are reached by means of sidechains, that are being connected or clustered (this increases the speed and reduces the costs on transactions’ processing up to 90%) by child chains Plasma and by Proof of Stake (PoS) algorithm. Security, instead, is reached through enhancement of Ethereum smart contracts with aid of Proof of Authority (PoA) algorithm, which means double verification of every transaction.

Clustering of the blocks of Plasma child chains and their connection with Ethereum chain
Clustering of the blocks of Plasma child chains and their connection with Ethereum chain

Within the context of OmiseGo project establishment, the developers have conducted the emission of tokens, that were called OMG.

Already on the stage of Private Pre-Sale the first $19 million were attracted, and in total, over the course of ICO $25 million were collected. The investors included such giants as SBI Investment, SMBC, LatVentures and 500 startups.

 

As a result, 65% of OMG tokens were sold out on ICO, and 5% more were allocated during the Airdrop. Moreover, 20% were reserved for costs forwarded towards realization of the roadmap, and the last 10% were reserved for the members of the team and active participants for 1 year (which has already passed).

Currently, total market capitalization of the project amounts approximately to $111 317 700 USD.

The highest price of OMG tokens was observed on the 08th of January, 2018 and was equal to $ 28,35 USD.

The lowest indicator of the price was fixed on the 16th of July, 2017 and amounted to $ 0,31969 USD.

Charts of capitalization and value of OMG token
Charts of capitalization and value of OMG token

OMG token has passed listing on various exchange platforms, among which there are Inanomo , IDCM, MXC, IndoEx and is most often traded in the following pair combinations OMG/BTC, OMG/ETH, OMG/USDT.

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