OMISEGO(OMG) - THE BANKING NETWORK OF THE BLOCKCHAIN
Hey Steemers,👋🏻
Pradeep here,
Cryptocurrency is one of the best solutions the future enrollments. As we can see there are lots of companies trying to make the work easier, reliable, secure and transparent.
Omisego(OMG) this is one of them which are making the same scenario as I told you that crypto is future and we should support it not only due to it's hipe in the market but also due to its transparency.
What is Omisego(OMG)?
OMG is an ERC-20 based blockchain which works like a banking network on a blockchain. It is a company of Southeast Asia named 'OMISE'. We can say it is a decentralized bank which deals with the transactions in both fiat and crypto as well.
How is it different from Banks?🏦
As there is a lot of paperwork in the banks. If we need to transact a big amount then we have to visit the bank and do make the transactions also many people don't have their accounts in the banks or some people don't wanna engage in these types of paperwork. So in these cases, OMG is one of the best options among them.
Why Omisego(OMG)?🤔
Omisego Is the best solution of these due to these characteristics of it.
1. User-friendly
As I told you above that there are no requirements for making transactions from one account to another which makes it user friendly and can be used by any person without any permission or boundary.
2. Affordability
As there is a very low-cost transaction fee so it is easier to afford and transact.
3. Scalability
As it is working on the Etherium based platform makes this more secure and easy to use.
4. Access
This is one of the best characters of the OMG because we don't have a boundary of wallet that there is a compulsion of storing the OMG into their wallet that means we can store in any of the Wallet which supports the OMG coin.
These are some Points I liked into the OMG.
Now coming to the limitation
Their is one limitation of this coin or almost all the coins on the blockchain.
The Transaction Time
As we know that the nodes of the blockchain take a lot of time to complete the transaction.
it makes the OMG limited, however, their team is working on this issue and trying to resolve it with the help Plasma Blockchain
Well done @pradeepkr34. Nicely written article.👍
Thanks @pankajborah
For Helping Me and being my inspiration
Very well explain about project OMG . Keep it up
Posted using Partiko Android
Well...I happened to own a few omise go coins when it was more than $15 but had to sell most of my cryptos at a loss when the government banned it in India. Whatever price fluctuations are gonna come its way, I am not going be benefited from it but will definitely try to buy some if there's a clarity from the government and there are proper platforms to convert crypto to INR because this coin does have a potential.
😂😂 That's Funny.
As We all know that crypto is not ban in india.
The only Problem is the Indian Govt. Are trying to ban it but i think it's Impossible Because It's the Future.
So don't panic and sell your coins in loss
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@raksha Thanks.
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