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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

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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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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