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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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