Premiere took place: 2018-07-19
OmiseGO is an Omise company project, based on ETH blockchain. Its aim was to create a payment platform that is alternative to banking system. The inspiration to create OMG was the fact that there are still a big number of people in the world who do not have access to banking services, but have access to electricity, a mobile network or the Internet.
OmiseGO provides the user with a portfolio and platform, thanks to which the user can not only store his funds, but also make transactions. The platform is decentralized. When the electronic wallet is installed on a computer it creates a network node, and by making payments through this wallet the user contributes to the network development. There is no so-called miners, users get a commission on the exchange, which is assigned on a proof-of-stake basis.
Developers also share the Software Development Kit, thanks to it you can create your own applications. Ultimately, the OmiseGO developers want users to be able to create their own platforms based on their blockchain.
There are also works ongoing over Plasma technology carried out by the ETH founder. The Plasma technology is to enable the processing of an extremely large number of transactions in an extremely short time. OMG will be the first project that will benefit from this solution on its platform.