Benefits of Omisego and Snt Partnership

Published: 2021-09-15 09:30:08
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Category: Economy, Computer Science, Modern Technology

Type of paper: Essay

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Two weeks after inking a deal with the Status mobile OS based on the Ethereum ecosystem, OmiseGo (OMG) continues to dominate the market in its quest to dominate in financial inclusion and blockchain interoperability. This partnership will transform the Web3 decentralized ecosystem as well as improve scalability. OmiseGo is one of the coins that offer real world multifunctional functionalities. This is an ERC20 tokens that also offers exchange, e-wallet and smart contracts. This makes it a P2Pppayment system with advanced features compared to those of Bitcoin and Ethereum. The project has gone a step further to enable ordinary people who do not have access to banking facilities.
OMG and SNT Right Timing
The Timing for the collaboration could not have come at a better time. With the two coins considered as under-hyped, OmiseGo is set to introduce Stacking and Plasma and this could be a game changer in the industry. The beauty of it all, the platform is set to introduce its native world DEX and this will see Status take its mobile chat feature to the next level. With full access to the Ethereum blockchain, the functional financial OmiseGo tools, I will become easier to transfer these to the consumer using the Status Network. This is an all value addition partnership that will see both outfits benefit in terms of adoption, value and price growth. OmiseGo and Status Network Perfect Fit
OmiseGo and Status Network tokens are Ethereum based and have similar goals; scaling and offering real world usability of the token networks. By linking the two projects riding on the same network makes the more robust and promising as they enter into the ever demanding crypto verse. The united force will counter their struggle in the bearish market and achieve stability in their token prices and gain traction in value. Through the Status network, OmiseGo is set to expand its horizons the mobile world after their e-wallet is fully integrated into the Status Network. This is a long term project and will take time to become fully operational. This however, will eventually grant OMG a better transaction avenue given the global mobile use penetration is on the rise.
Shifting Cryptocurrency Market and Consumer Trends
With shits in consumer demands, OmiseGo and Status Network have come up with an application that communicates with the Ethereum ecosystem without using third parties. What’s more; Status is offering a direct link between mobile chat on social media with the Ethereum network. This partnership comes at a time when the market is showing positive recovery signs and both tokens have been trading on the green for the batter part of the week. At press time, OMG token wad trading at $7.96 after marginal gains of 7.87% to the dollar.
SNT on its part was trading at $0.079661 after gaining 8.36% to the USD. However OMG is rated higher by market cap at number 19 while SNT is currently ranked 51. These figures might sound minimal at the moment given that the two tokens have always been undervalued. The partnership is about to awaken their potential for a major breakout. OMG recent listing on India’s leading exchange, Unocoin is another plus for the token given the role the mobile client will play to reach the unbanked in most virgin markets. This will be a great way for users to stake OMG at the same time having access to their funds on the go.

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