The cryptocurrency market has always attracted much attention, and OMG coin, as one of them, has also attracted much attention. However, recent rumors about OMG being eliminated and the founder running away have attracted widespread attention. This article will clarify these rumors and explore the future prospects of OMG coin.
1. Introduction to OMG Coin
OMG Coin (OmiseGO) is a digital currency based on the Ethereum blockchain, which aims to build a decentralized financial platform. The goal of OMG Coin is to provide a fast, secure and cheap transaction experience and provide users with more financial service possibilities.
2. Development history of OMG coin
OMG Coin was launched in 2017 and has attracted much attention. The team behind it is led by Jun Hasegawa, the founder of Omise, a well-known payment solution provider in Thailand. The goal of OMG Coin is to provide users with a wider range of financial services through cooperation with Omise.
3. Rumor 1: Was OMG eliminated?
There have been recent rumors that OMG coin has been eliminated and no longer has development potential. However, these rumors have not been officially confirmed. In fact, OMG coin is still developing, and its team is committed to promoting the progress and innovation of the project. Although market fluctuations and increased competition may have a certain impact on the price of OMG coin, this does not mean that OMG coin has been eliminated.
4. Rumor 2: Did the founder of OMG coin run away?
Another widely circulated rumor is that Jun Hasegawa, the founder of OMG Coin, has run away. However, this rumor is also unfounded. As the founder of OMG Coin and CEO of Omise, Jun Hasegawa has been committed to promoting the development of OMG Coin and actively interacting with the community on social media. Therefore, the rumor that the founder of OMG Coin has run away should be clarified.
5. Future prospects of OMG coin
Although OMG Coin faces challenges of market competition and price fluctuations, it still has certain potential. The OMG Coin team is committed to promoting the development of decentralized finance and providing users with more financial services. In addition, OMG Coin also cooperates with other blockchain projects to jointly promote the development of blockchain technology. Therefore, OMG Coin is still likely to succeed in the future.
As a member of the cryptocurrency market, OMG coin has recently faced rumors of being eliminated and its founder running away. However, these rumors have not been officially confirmed.
OMG coin is still developing and has certain potential. Therefore, investors and users should remain rational when dealing with these rumors and pay close attention to the dynamics of the OMG coin team and project progress.
Features of OMG
OMG frees up block space on the Ethereum chain through More Viable Plasma (MoreVP).
OMG Network will aggregate the transfer transactions together and compress them into a single transaction, and then move it to OMG's sidechain for verification.
After waiting for the sidechain to verify the transaction, the sidechain will send the verified transfer back to Ethereum for final verification.
OMG Network Layer 2: Solving Ethereum’s high Gas Fee problem
OMG Network is one of the earliest Ethereum expansion projects that proposed the concept of "Layer 2". It was also selected by Vitaklik as the main force of Ethereum expansion plan, and therefore was once the leading project of Layer 2.
OMG Network uses Layer 2 technology to solve the problems of high Gas Fee and transaction congestion often faced by Ethereum, especially the transfer payment function on the chain. OMG Network focuses on the concept of Layer 2 payment and focuses on achieving cheaper and faster instant payments.
More Viable Plasma（MoreVP）
OMG uses More Viable Plasma (MoreVP), which allows the OMG network to process thousands of transactions per second, and the cost of each transfer processed through OMG is about one-third of the cost on Ethereum.
So why is OMG so efficient? Because there is only one node in the OMG network, the so-called operator, while there are about 8,000 nodes on Ethereum.
A single node will make OMG's sidechain more centralized than Ethereum, but the benefit is that it will have a higher transaction throughput.
What makes OMG special compared to other cryptocurrencies
OMG Network aims to solve Ethereum’s scalability issues, as well as speed up transaction times and reduce Gas Fees for operations on the blockchain.
In addition, OMG Network is highly regarded by the outside world because of the technical support and development participation provided by outstanding developers on Ethereum, as well as Vitalik Buterin's support.
OMG’s uniqueness: SDK (Software Development Kit)
The SDK provides standardized functions for cryptocurrency wallet service providers, simplifying the wallet creation process.
OMG Wallet SDK can be used for deposit and withdrawal operations through ATM or credit card, and assets can also be converted into cryptocurrency through the OMG blockchain.
OMG’s uniqueness 2. DEX (decentralized exchange)
DEX is a scalable and secure PoS blockchain where users can trade any form of cryptocurrency.
All trade orders will be managed on the DEX and verified by OMG detectors (as part of the Proof of Stake or PoS consensus), and users will also be able to redeem their assets on the Ethereum blockchain on the DEX.
OMG’s uniqueness 3. Sharding
OMG is a pioneer in Ethereum sharding. In addition to providing security against network attacks, sharding can also improve the speed and scale of transaction processing and on-chain transaction processing.
