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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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Blogs

3 Things to Avoid if You Want Your ICO to Succeed

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Initial Coin Offerings, or ICO, have become quite popular in 2017, which is something that also continued throughout 2018. In fact, there were hundreds, if not thousands of them so far. However, no matter how many of them were organized, most never managed to make it into the market and achieve their goals.

Analysts claim that there are a lot more failed ICOs than there are successful ones, which has caused a lot of people to simply give up on the idea. However, many are still curious to know what went wrong, and while failed ICOs can be studied for years without discovering absolutely every flaw, some of the bigger ones can be spotted right away.

This is why we will now list top three reasons why so many ICOs failed, and everyone who is thinking about launching one should pay close attention.

1. The lack of demand for the product

According to estimates, around 60% of ICOs often fail at the first stage simply for the lack of interest in what they offer. When someone comes up with an idea and launches an ICO in order to raise money, they are presuming that people will be interested in investing in this idea. In addition, prior to making an announcement that an ICO is coming, it is wise to ensure that the announcement will be heard in the first place.

Additionally, ICOs need to be approved by appropriate…

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Bitcoin

Reasons Behind The New Bitcoin Crash

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Cryptocurrency investors and supporters experienced quite a shock last week with the latest Bitcoin crash. Almost every single one of top 100 cryptocurrencies trading in the red. Not only that, but most of them experienced massive losses, often larger than 12%, or even 15%.

The event was unexpected and all cryptos, with the exception of a handful of stablecoins, lost a large part of their value. However, as always, Bitcoin is the one receiving the most attention, especially since this is the first time that BTC has dropped below $6,000 in a long while. Right now, Bitcoin is still losing value, with its current price being at $5,503.11 per coin, and a drop of 12.76% in the last 24 hours.

After the initial shock, a lot of investors started wondering and researching the new crash. The main question still remains: Why did this happen?

While this is more than understandable, especially considering how much money, time, and patience people have invested in crypto, the reasons behind the new crash remain obscure to many. Because of that, we are now going to explain two events that are most likely to be causing this situation.

1. The selloff

This is believed to be the main reason for the new crash of Bitcoin. The selloff came as a consequence of the last year’s bull run, which has launched BTC and other coins to entirely new heights. Because of that, numerous…

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Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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