In terms of Market Capitalization, we always find OmiseGo around top 20, but one interesting curiosity is: even after the big crash and roller costing movements we have seen in the last couple of months, OmiseGo (OMG) is holding their value amazingly. There are some coins in better positions, that lost their BTC value in more that 60% or 70%, while OMG held themselves and kept this value stable. Since the January crash, their value only oscillated between 0,0011 BTC (being their minimum post-crash) and in February was already pushing over the 0,0017 BTC.
Image 1 – OmiseGo BTC Value on Coin Market Cap – Source: coinmarketcap.com
It’s one of the coins who is already giving us Green Light for investment, while others keep struggling hard to gain value again.
So, what is the Big Hype around OmiseGo (OMG) all about?
To the common man, the hype is only because OmiseGo is souring, however: there is much more than this “common sense”. OMG is an ICO using the smart contract supported blockchain- Ethereum. After its first ICO last year, it is ready to do it again but now they have all the visibility a successful ICO can ever have thanks to the confidence Ethereum has in the blockchain technology industry.
OmiseGo is the bridge between other cryptocurrencies and fiat. This is the gap that Bitcoin failed to address. Bitcoin is designed to rival instead of complementing and integrating fiat money in the system.
OmiseGo, on the other hand, inserts fiat in the blockchain technology, therefore it’s the only platform of conversion. Their decentralized software is universal, so, it allows the acceptance of any form of money from the customers.
OmiseGo System- The way it works
It is really one of the simplest systems in this industry. One just needs to own some fiat or cryptocurrency. Walk to an OmiseGo affiliate shop, select the products they want or need and pay with their smartphone. The only need is: to hold fiat or any cryptocurrency and a smartphone to pay for a bill.
When the payment is done, the OmiseGo system converts the currency the buyer sends to the one the vendor accepts and voila the money is transferred from the buyer smartphone application to the vendors. An easy, fast and untraceable transaction.
4 Reasons why OmiseGo is the best Alt-coin to hold this year:
Firstly, OmiseGo project has been created by Ethereum founder, Vitalik Buterin, to be one of the best cryptocurrencies ever. The argument behind this, is based on the capabilities of the Lighting Network. This will be supplemented by the Plasma Network– which is yet to be deployed in the network.
Also, OmiseGo(OMG) is working to unleash the Stripes software. This is going to be implemented in order to handle transactions and sales. This is a software already being used by many organizations from all over the world, such has Facebook and UNICEF.
Thirdly; This is a company active in the peer-to-peer currency processing sector for over 5 years, so integrating in the blockchain environment will not be hard. The adoption of Plasma and Stripes will be one of the most brilliant steps towards modern economies; since Plasma is ready to increase transaction speeds with even lower fees, their promise is to bring a million transactions going through OmiseGo(OMG) network in one second.
Lastly, OmiseGo(OMG) users are only required to keep one wallet for all their cryptocurrencies and fiat money transactions. This is a simpler and practical way to “bank the unbanked”.
These 4 reasons prove that OmiseGo is taking the right steps in order to become the most practical and easy Application to use in the Blockchain industry and 2018 is set to be the year when these major updates will happen.