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OmiseGo Roadmap Update: How Are the Changes Going to Impact OMG’s Future

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OmiseGo
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Right from the beginning of this year, the frequency of blockchain upgrades and technical developments have increased considerably amongst various existing and tradable cryptocurrencies. Manifestly, one of the main reasons behind this new trend is the constant volatility of the most popular digital currency, Bitcoin. Bitcoin’s instability has created significant doubt among a large percentage of traders and consequently, other well-known coins have been trying to keep their places on the price chart through continuous upgrades for the past few months. As a cryptocurrency, OmiseGo has one of the busiest and most efficient developers and as a result, the frequent changes and developments on its blockchain platform are not really unexpected.

Among the eighteen hundred tradable cryptocurrencies, every digital coin offers some unique features that grab the attention of a certain number of traders. But as time progresses, the desiderata of people also change drastically. To cope up with these new demands and to keep a secure place in this fiercely competitive market, publishing new roadmaps and technical updates have become a quotidian phenomenon in the crypto-world. To keep up with other currencies, the OmiseGo team released an updated version of their pre-existing roadmap on 9th of May, 2018. Here, a few aspects of this roadmap will be discussed to depict a probable future of this coin.

Completed Events:

OmiseGo was first tokenized in July 2017 after raising a considerable amount of money (25 Million USD) during its initial coin offering (ICO) state. Since then, the OMG development team has managed to tick quite a few boxes of achievements and upgrades. Some of these completed events include:

  • Token Sale: In the second quarter of this coin, OMG managed to raise 25 million USD in its token sale as an ICO.
  • Airdrop: During the Q3 period, OmiseGo’s team announced an airdrop event for their users in September 2017. 5% of the total OMG supply was distributed to all Ethereum addresses having a balance greater than 0.1 ETH. This airdrop brought massive success for this cryptocurrency by increasing its popularity to a significant extent. In consequence, OMG coin experienced a surge in its price during this period.

Major Developments in Progress and Upcoming Events:

OmiseGo’s internal architecture can be categorized into three principal segments namely the decentralized exchange, the scalable blockchain, and the application interface. In all of these segments, an incessant process of developmental updates is in progress. Here, some of those developments are discussed:

The Decentralised Exchange (DEx): The decentralized exchange of OmiseGo has undergone quite a few changes over the past few months including:

  • Elimination of Honte: Honte was a Tendermint construction specifically designed to provide sufficient throughput along with a proof-of-stake algorithm. As the progress rate of Plasma (another OMG project) was greater than Honte, this initiative has been discarded and removed from the roadmap.
  • Elimination of Cosmos DEx: Cosmos DEx has also been eliminated from the roadmap as the OMG coin is going to be “spooned” right after the launch of Cosmos hub launch. However, the OmiseGo team will continue to work closely with the Cosmos team for creating a parallel decentralized exchange on Cosmos platform.
  • Development of Non-Custodial Plasma DEx and Full Plasma DEx: In case of non-custodial plasma DEx, the OMG users will be allowed to have the custody of their funds with a non-custodial order settlement on the Plasma chain. In this phase, a centralized system to provide order matching would be maintained. This development is likely to be completed during the fourth quarter of this year. In the full plasma phase, the order book and order chain will be moved to the plasma chain and various tokens including ETH and ERC-20 coins would be supported on the exchange. The development of this phase is yet to commence.
  • Additional Developments: There are myriads of development upgrades that are currently in progress besides the development of Plasma DEx. Some of them include creating an exchange for non-fungible tokens, removal of confirmation messages into Tesuji Plasma, and many more.

The Scalable Blockchain: The OMG development team has made considerable progress in designing a scalable blockchain. They have already finished developing the Plasma MVP while the designing of Plasma Cash and Plasma Tesuji are still in progress. They also endeavor to finish creating a hybrid and complete PoS system by the end of this year.

Application Interface: The OmiseGo team has completed nearly 50% of their application interface by going through the Alpha and Beta phases of their wallet SDK successfully. They’re on course for releasing a fully functional SDK wallet shortly which will be called by the name Sente.

Upcoming Additional Features: Besides developing these three major segments, OmiseGo is likely to implement a significant number of new features in its repertoires such as cash in/out (AJI) facility, blockchain integration, interconnectivity, and many others.

Current State of OmiseGo:

As of 10th May 2018, OmiseGo holds the 20th position on Coinmarketcap with an impressive price of nearly $16 and a market capitalization of approximately 1.6 billion USD. The recent charts have shown a conspicuous upward trend for this currency.

Conclusion:

Within a matter of ten months, OmiseGo has been able to acquire a position among the top 20 coins on Coinmarketcap. Once all of its upcoming and on-going developments are completed, this currency would become even faster, more scalable and convenient for its traders. Ergo, it can be certainly inferred that the updated OMG roadmap has opened up many doors full of lucrative opportunities for this coin as well as its holders in future.

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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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collateralized debt position
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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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Hodium
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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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