OmiseGO (OMG) - network and cryptocurrency closely related to Ethereum

If the support for the project is Vitalik Buterin himself, i.e. the creator Ethereum and 40 experienced developers, among whom there are also known names, he probably can't go wrong. From the very beginning, the OmiseGO platform and cryptocurrency were programmed for success and quickly achieved it.

We are continuing the cycle of the Forex Club portal in which we describe the largest, most interesting, loudest and most controversial cryptocurrency projects from around the world. Today it's time for OmiseGO (OMG) - a payment platform for everyone who… doesn't have a bank account.

The OmiseGO platform is web-based blockchain Ethereum (ETH), but also has its own OMG tokens. From the beginning, she wanted to focus on bypassing financial intermediaries in online payments. The solutions provided by programmers working for OmiseGO concern not only cryptocurrencies, but also traditional currencies from which the project started its operation. They are aimed at people who, due to philosophical, geopolitical and all other reasons, do not have or do not want to have access to electronic banking systems. It can also be used to handle loyalty programs and cash loans both from financial institutions and between network users.

Establishment of the OmiseGO platform

It started with a payment application Omise, which has been around since 2013. From the beginning, over 40 developers have worked on it with the support of Vitalik Buterin himself, the founder of Ethereum. The author of the programming language of smart contracts Solidity Gavin Wood also helped  and Julian Zawistowski, creator of the Golem platform. It is not surprising that success in such a composition.

Jun Hasegawa, originator of OmiseGO

The Omise Corporation project was invented by Japanese Jun Hasegaw. It started with a mobile application that allowed you to pay in an online store even when you didn't have a bank account or wanted to skip it. It has gained great popularity in Japan, Thailand, Singapore and Indonesia.

In 2017, the profitable system was expanded based on Ethereum. As a result, it could also become a cryptocurrency clearing platform. To this end, an ICO was carried out at Ethereum, during which USD 25 million was collected in a month to develop the project. The magic of mentor names and the already operating and profitable product implemented by the company worked.

Thanks to this, in August 2017, a white paper of the second layer Ethereum protocol called Plasma Cash was created. It is a system similar to that promoted by the environment Bitcoin Lightning Network, i.e. the ability to significantly increase the number of transactions carried out at the same time. After this declaration, OMG tokens began the rally upwards. During the month, their price increased more than threefold.

OMG quotes

The target number of available OMG tokens is already reached and is 140 245 398. All are already available on the markets. You can trade them on 94 cryptocurrency exchanges around the world. As of 12.05.2020/0,69/08.01.2018, you need to pay USD 28,35 for each OMG token, but their price was much higher. The peak of quotations took place on XNUMX/XNUMX/XNUMX when USD XNUMX was paid for each unit.

Currently, OMG's capitalization reaches over USD 96 million, and the token enjoys high liquidity, which even exceeds it. The daily turnover of OMG exceeds USD 107 million, which gives it in 32nd place among all cryptocurrencies in the world. In recent months, however, OMG's interest has increased significantly when Vitalik Buterin announced the expansion of the Ethereum 2.0 project in January this year.