The Future Of OmiseGo and Status partnerships
The Future Of OmiseGo and Status partnerships
OmiseGo(OMG) has reached out to Status Network (SNT) for a partnership that links two Ethereum projects that are extremely promising for doing robust work in the background. Both have seen price fluctuations and depressed positions due to the prolonged bear market but have pushed ahead with their roadmaps.
The two projects will collaborate in the coming months, with Status Network working to integrate the upcoming OmiseGo decentralized exchange into its application and ecosystem. However, the solution may take a while to materialize."The Future Of OmiseGo and Status partnerships"
Currently, there are very few direct applications to communicate with the Ethereum network, and Status Network is one of the projects aiming to link mobile chat and social media with Ethereum tokenization.
“Status and OmiseGO share a common vision to make the world a more open and equitable place through easy access to the Ethereum public blockchain. While OmiseGO focuses on building open infrastructure and open financial tools, Status focuses on putting these tools into the hands and pockets of people around the world,” the Status Network team announced in a recent blog.
Unfortunately, the latest market downturn has hurt both coins. OMG has sunk by more than 16% net in the past week, currently trading at $6.82 and looking to be in persistent decline in dollar terms and against Bitcoin.
OMG has been perceived as undervalued for a long time, and its price has never risen to outlandish levels – it peaked at just over $28. There are still expectations the asset will have longer-term value once its technical goals are reached, and the Plasma scaling solution is tested.
A large step towards decentralization
Both projects want one thing, and that is to bring cryptos to as many people as they can. Their efforts are dedicated towards making a shift towards cryptos, and to its mainstream adoption.
Status’ part in this will be to work with OMG for the purpose of integration of OmiseGo’s DEX (Decentralized Exchange). Furthermore, the joint effort of the two projects will also touch upon scalability research, and even on trying to improve the web3 ecosystem.'The Future Of OmiseGo and Status partnerships'
It makes sense for Status to wish to adopt DEX, considering that DEX brings a lot more security and scalability since it is in POS network. It will also make interoperability possible, for on-chain and off-chain transactions alike.
As mentioned, both of the projects are focused on achieving ultimate decentralization, and this partnership is seen by both parties as the next step on that road. Together, and through this collaboration, Status and OMG are progressing, and heading towards an advanced, decentralized economy.
The Future Of OmiseGo and Status partnerships
Reviewed by mir khaleq ali
on
July 11, 2018
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Reviewed by mir khaleq ali
on
July 11, 2018
Rating:
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