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?
- Accessible-It enables users from around the world to transfer any digital assets, including crypto and fiat currencies.
- Safe-It integrates with Ethereum blockchain to create secure token custody, decentralized exchange, and secure transaction validation.
- Scalable-The Plasma allows unlimited scalability and processes billions of transactions/per second
- Interoperable-It connects different blockchains protocols, and allows different financial applications to interact
- 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.
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