what is omisego and how it works

What is OmiseGo and How Does It Work?

I’m excited to see what OmiseGo could bring to the future of transactions…

OmiseGo is using blockchain technology and the Ethereum network to bring finance to every part of the world. The biggest point is that you do not need a bank account. All you need is a connection to the blockchain. One of the goals the team has is to achieve ‘instant settlements’ on transactions. This would be huge and the cost would be low compared to current industry standards.

what is omisego and how it works

On the website, they state that the technology has not been launched yet. However, it will be launching in Q4 of 2017 so I think the price has room to rise significantly. We can forward to an optimistic launch on this token very soon.

They’ve got an actual team behind them making sure the technology will be delivered on schedule. One thing they have been doing is tackling Asian markets but they have also been trying to grow the platform for everyone.

The SDK that OmiseGo offers has the ability to do cross wallet transactions. This means people can go out and develop their own wallet and it will be able to talk with another persons wallet that is setup differently.

What is the OmiseGo Airdrop?

According to their website, the airdrop is expected to begin on Monday, 4 September, and is expected to take about a week to finish (depending on Ethereum traffic conditions). 5% of the total supply of OMG has been set aside for the airdrop. Addresses on the Ethereum blockchain that held a balance over (not ‘over or equal to’) a minimum threshold of 0.1 ETH at block height 3988888 will receive a share of the airdrop allocation that is proportionate to their share of ETH.

This is incredibly exciting and I believe the exchanges will support this. I know Bittrex has done airdrops successfully before and Coinbase has decided to implement support to give people Bitcoin Cash since the split happened. I don’t see there being a difference this time and they should give the community the OmiseGo without an issue.

 

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