OMG Developer Behavior is on the rise since the team launched its newest public testnet on March 3rd. Price has remained steady over the same time period.
Fundamental Data: OMG FCAS has gone up 29-points (3.89%) since March 5th, driven by a 51-point (7.08%) increase in Developer Behavior.
Recent Events: The team announced their new public testnet, OMG Network V1, deployed with audited root chained contracts, as well as a new web wallet, a new block explorer, and a new documentation site. While still in the testing phase, developers are welcome to explore the new features and tools through OmiseGo’s Developers Program.
Perspective: The recent upgrades take the project one step closer to “unbanking the banked”: in addition to service providers leveraging the platform’s capabilities, an end user who wants to “be their own bank” can also create a private wallet and interact directly with the OMG network entirely on their own terms. The project’s focus on user experience, combined with its ties to Ethereum, are key for driving mass adoption.
The Flipside: There are more than a few crypto projects attempting to shake up the payment processing industry. It will be interesting to see if the OMG Network lives up to the crypto community’s high expectations for success.
About OMG: Established by OmiseGo (a subsidiary of Omise, a very popular payment management platform in Southeast Asia) in 2017, the OMG Network provides open financial services to anyone, anywhere. The network was built on Ethereum, leveraging Layer-2 Plasma architecture as a way to increase scalability capabilities and reduce costs. OMG is the ERC 20 token used to secure the network.
Key Features: Proof-of-Stake consensus mechanism; decentralized exchange (ODEX); Plasma network child-chains; a clearinghouse; and a white-label SDK.