OmiseGo is the first plasma.io project!

in bitcoin •  2 years ago  (edited)


  • More great news for OMG it was only 3 days ago I wrote about why I invested in them. The significance of this news is that plasma quoted from there site

"Plasma is a proposed framework for incentivized and enforced execution of smart contracts which is scalable to a significant amount of state updates per second (potentially billions) enabling the blockchain to be able to represent a significant amount of decentralized financial applications worldwide. These smart contracts are incentivized to continue operation autonomously via network transaction fees, which is ultimately reliant upon the underlying blockchain (e.g. Ethereum) to enforce transactional state transitions."

When OMG gets its own separate blockchain that runs Proof-of-Stake, you will be able to stake your coins to help secure the blockchain and this will earn you some % of your tokens over a period of time. Since the OmiseGo blockchain will be closely integrated into Ethereum mainnet, this will greatly benefit there project.



http://plasma.io/

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I bought in a little late - around $5.00 At the moment, coinmarketcap says it's $5.66. I'm considering buying more, but I want to hold it for the long-term. From all I've read, this is a good token (is it a token or a coin?) to hold onto.

But this is also only the second investment I've ever made. When people are talking long-term, do they mean a few months or a few years?

Thanks for the info!!

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  ·  2 years ago (edited)

Because you will be able to earn fees validating the blockchain activity, one could speculate that If that activity included Big exchanges (ETHfinex?!), or big fast food chains(mcdonalds), or payment services like alipay.. etc. That the activity would be huge. So you could assume if omisego at some point is validating billions of tx's on the blockchain on a daily basis and that you the holder staking your omisego would collect a nice reward.

I am hodling long term(years) and buying more over time.

Have any other projects used Plasma? Is it basically just able to scale much faster than Ethereum or is there something else behind it? Don't quite understand the quoted text in your post explaining it.

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  ·  2 years ago (edited)

Simply put its like adding the lightning network to Ethereum. From the paper "Similar to the Lightning Network, Plasma is a series of contracts which runs on top of an existing blockchain to ensure enforcement while ensuring that one is able to hold funds in a contract state with net settlement/withdrawal at a later date."

In the future I'm sure more will as far as I know omisego is the first.

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thanks for the ELI5 :)

Just took a look at your posts and they are very interesting. Seems we have interests in the same topics. Will follow you and do some more research on OMG as well. Maybe consider checking out my posts and see if you are also interested to follow. Regardless, upvoted and looking forward to your next posts.

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  ·  2 years ago (edited)

Will take a look!

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great would be interested in your feedback ;)

@natra,
Thanks for this very useful information and yeah I thought it can be a good one and lucky I was decided to brought it at ICO stage :D

Cheers~

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Lucky you indeed, congrats !

After i saw the tweet was a instant buy, this project has a lot of potential and with Vitalik helping even more.
Exciting days coming for OmiseGo for sure
Great post!

price goes high. I will follow

Big holder and Believer in OMG - With Vitalik Buterin on the AdvisoryBoard, The McDonalds contract and their amazing new wallet to be unveiled for big business all the way down to the unbanked - it's a winner! I only grabbed my first OMG like 15 days ago and have made a ton already - buying dips and selling off some On peaks then watching it rise and rise -

And now Plasma.io ?? WHAT?!?

Check out my post if ya want to https://steemit.com/cryptocurrency/@krytonika/omisego-continues-on-historic-ico-to-exchange-run-up-958-in-26-days

I made a similar post a few days ago. I bought in at around.75 cents and I am loving Omisego right now. I plan to hold on to it for awhile because I believe the project will succeed. How about you are you holding long term?

sounds interesting on your investment categories . Hope this brings help in the minnow community too

Nice Information.

This post received a 3.2% upvote from @randowhale thanks to @natra! For more information, click here!

Sounds great! Thanks!

I bought at 60 cents and I sold half at 2,60$ 😱 But reading this, they are probably still cheap...

@natra got you a $1.92 @minnowbooster upgoat, nice!
@natra got you a $1.92 @minnowbooster upgoat, nice! (Image: pixabay.com)


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oh great, I'm a little late and my entry position was 11.33$ in omg and I don't know what is future but I impress with its rank on coinmarketcap. its on "11th" position. Now its on two big exchanges; poloniex omg/btc, omg/eth and on bitterex. Hoping huge profits but recent market is going fast up and downs.

Greats. Something "HUGE" is happening for OmiseGO (OMG) in Year 2018 through 2019, let's see.
OMG+PLASMA+ETH = HUGE !!