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What is OmiseGo Network?

OmiseGO Network is a scaling solution thought for financial transactions on the Ethereum Network. It enables transparent, peer-to-peer transactionsin real-time.

It is a light, highly scalable and secure blockchain that integrates with the Ethereum blockchain and Ethereum smart contracts.

OmiseGo decentralized network facilitates self-sovereign financial servicesacross the world. It is designed to pioneer the Plasma blockchain architecture,which is the leading Ethereum Layer 2 scalability solution. The Plasma isinfinitely scalable,and it has a decentralized exchange built into its core consensus layer. It is a proof-of-stake network, that allows securely creating scalable blockchain applications.

                                       What functions makes OmiseGo so useful?       

  • Cryptocurrency and fiat currency transactions.
  • Access, management, and transaction with digital assets that are securely on the chain.
  • Decentralized exchange mechanism.
  • Secure and rapid transaction clearing with the use of smart contracts and protocol consensus.

What are the benefits of Omisego Network?

  1. Accessible-It enables users from around the world to transfer any digital assets, including crypto and fiat currencies.
  2. Safe-It integrates with Ethereum blockchain to create secure token custody, decentralized exchange, and secure transaction validation.
  3. Scalable-The Plasma allows unlimited scalability and processes billions of transactions/per second
  4. Interoperable-It connects different blockchains protocols, and allows different financial applications to interact
  5. Decentralized-It controlled by users and validators (stakers) on the network (no central authority). Through proof-of-stake validation, token holders are able to validate transactions and earn fees.

OmiseGo Ecosystem

The key components of the OmiseGo Network ecosystem are as follows:

  • E-Wallet Suite and Application Interface
  • Plasma  – Blockchain Scalability Framework
  • Decentralized Exchange Layer
  • Proof-of-Stake Consensus Mechanism