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OmiseGo (OMG) and Ethereum’s (ETH) Status Enter a New Partnership

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Ethereum’s mobile client called Status has just recently announced a new partnership with OmiseGo (OMG), as well as the platform’s plans to adopt OMG’s decentralized exchange.

Status goes OMG

Many are already familiar with the open source dApp for phones and browsers called Status. A lot of people also know that it was created on Ethereum’s blockchain, which makes it one of its first clients. Now, Status has released a tweet in which it announced a new partnership with OmiseGo (OMG).

The two were familiar to each other from several research projects that they collaborated on, but this is the first time that they are entering a full partnership. Status is a very popular messenger app, while OmiseGo has quite a reputation as one of the largest names when it comes to on-chain, as well as cross-chain transactions. They also have a lot of experience when it comes to Plasma scalability research, as well as interoperability.

Both of these projects share a similar goal, which is to make the world more open. They plan to do so by allowing users to access Ethereum’s public blockchain much more easily. Both teams are excited about the partnership and future collaboration and have stated that the two fit together perfectly.

This is true in several ways, and their roles in the partnership will be clearly separated. OMG will have the task of creating financial tools that will be used in an open infrastructure, while Status will be taking care of the tools’ adoption and distribution throughout the world.

A large step towards decentralization

Both projects want one thing, and that is to bring cryptos to as many people as they can. Their efforts are dedicated towards making a shift towards cryptos, and to its mainstream adoption.

Status’ part in this will be to work with OMG for the purpose of integration of OmiseGo’s DEX (Decentralized Exchange). Furthermore, the joint effort of the two projects will also touch upon scalability research, and even on trying to improve the web3 ecosystem.

It makes sense for Status to wish to adopt DEX, considering that DEX brings a lot more security and scalability since it is in POS network. It will also make interoperability possible, for on-chain and off-chain transactions alike.

As mentioned, both of the projects are focused on achieving ultimate decentralization, and this partnership is seen by both parties as the next step on that road. Together, and through this collaboration, Status and OMG are progressing, and heading towards an advanced, decentralized economy.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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