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OmiseGo achieved a remarkable feat on August 17, 2020, when it reached a 13-month high of 49% in the past 24 hours.
OmiseGO (OMG) is an Ethereum-based altcoin that powers smart contracts and currently ranks 46th in the list of market cap blockchain.
OmiseGo is a cryptocurrency designed on the Ethereum blockchain. It is a decentralized crypto exchange that works on an open protocol and a proof-of-stake algorithm. The company has its own OMG coin and crypto wallet (white label eWallet) that enables OMG token holders to trade fiat and cryptocurrencies.
What makes OmiseGo unique is its functionality to ease coin transfer from one blockchain network to another without the need to rely on a crypto exchange.
Furthermore, OmiseGo outperforms other blockchain platforms in terms of high throughput, low transaction fees, and great user experience.
OmiseGo works intending to provide services such as currency exchange and asset trading that entice businesses and developers to adopt blockchain platforms for real-world applications. This further led to the rebranding of OmiseGo as the OMG Network.
Lately, Financial Services Agency (FSA), Japan’s regulatory authority for crypto assets, has approved the sale of OmiseGo’s native crypto coin OMG in the country. As there are no such confirmations from the active addresses, it is suggested to trade OMG with extreme caution.
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