OmiseGO's partnerships begin to bring dividends
While still relatively young, cryptocurrency OmiseGO is working diligently to make its way through the ranks of digital coins. It raised more than $25 million through its Initial Coin Offering (ICO) last year, turning down $100 million in the process. It now sits on a valuation of around $1 billion, give or take, and counts as its advisors Ethereum creators Vitalik Buterin and Gavin Wood. In its continued quest to move up the ladder, it has developed several components and partnerships that will prove to be beneficial in 2018.
One of OmiseGO's prime characteristics is its scalability. It purportedly has unlimited scalability, unlike coins like Bitcoin and Ethereum. This allows for more transactions in less time, which makes more a more efficient network. The OmiseGO blockchain can, in theory, handle millions of transactions per second.
OmiseGO developers last year released a large scale airdrop, which sent 5% of its tokens out to the public at no cost. An airdrop can be described as a mechanism through which ERC-20, an Ethereum token standard, is distributed to Ethereum holders. Prior to the airdrop, the blockchain is scanned for the amount of Ether held by each user, and then distribute coins based on the holdings. Since OmiseGO is based on Ethereum, the airdrop is a way to keep Ethereum-based shareholders happy, and to boost interoperability between OmiseGO and Ethereum.
OmiseGO developers have also spent the past several years developing key relationships with global leaders. It has inked a number of highly profitable deals with businesses around the world, including agreements with SBI Investment, Ascent Capital, East Ventures and MacDonalds Thailand, one of Asia's largest payment service providers.
As 2018 continues to roll forward and cryptocurrencies become more stable, OmiseGO could be one of the lesser-known coins to launch a surprise attack. It's still too early in the year to gauge, but the significant developments instituted by its community should prove to be of substantial importance over the course of the following months.