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The rivalry

As ETH congestion reaches record levels and the network desperately needs scaling solutions, Optimistic Rollups have been the talk of the town in the ETH community recently — and for good reason. As stated in ETHhub, this Layer 2 solution resembles Plasma’s construction, but trades off some scalability in favor of having the ability to run smart contracts. As the largest community staking pool for the OMG Network, we’re very excited to see their Plasma implementation’s impact on ETH’s network congestion. Let’s dive in and compare the two L2 solutions!

Before we do, it should be emphasized that both solutions…


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Using a mobile wallet to buy food

Many OMG enthusiasts have experienced difficulty explaining the concept to friends and family. This article is meant to be the go-to explanation you can send them!

Mobile payments dominate Asia

Payments is a big business. In 2019, Visa processed $8.8 trillion, Mastercard $6.5 trillion, PayPal over $711 billion, and Stripe around $200 billion. Every time these businesses process a payment, they charge a fee. Sometimes businesses pay this fee when you buy from them, sometimes you pay the fee such as when you send money over Paypal.

The largest payment processor in Southeast Asia (SEA) is a company called Omise. Operating in SEA, they…


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After many, many months of development and “bear-ing” through cryptowinter, the OMG Network v1 Public Mainnet Beta is finally now live! OmiseGo rebranded to the OMG Network to mark this momentous occasion, and OMGpool.org has followed suit.

What does the mainnet launch mean? Transactions from real-world businesses will soon be passing through the network in this new financial infrastructure. This is the moment we’ve all been waiting for!

With the OMG Network’s launch, they revealed that Bitfinex’s Tether volume will pass through the network as their first major adopter, shaving 2/3 off current transaction costs. …


Soon™
Soon™
Photo by Johannes Plenio on Unsplash

With the thawing of cryptowinter, excitement has been building up again. Is 2020 “rock year” for OMG, when the product reaches the “promised land” of real-world use, powered by stakers on a decentralized network? The rise of new hope from faithful OMG token hodlers has inevitably come with revived FUD (fear, uncertainty, and doubt) from folks both informed and uninformed, many of whom lost faith in OmiseGo.

We’ve enjoyed having enthusiastic discussions with many of these folks over the past few months on various social channels and felt it valuable to compile some of the optimistic speculations we arrived at…


We believe that OmiseGo is the catalyst for Ethereum scaling. That OMG’s Plasma is the Layer 2 solution the Ethereum World Computer will implement in order to bring scale to a truly decentralized smart contract platform, unlocking world-shaking business model innovations not seen since the mainstream adoption of the internet. That OMG itself will be the reigning platform for decentralized universal currency-agnostic exchange of value, allowing you to instantaneously pay for coffee using Dai or dollars or Bitcoin or euros or World of Warcraft gold or airline loyalty points, or a combination of all of them, right at the point…


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At OMGpool, we advocate and support principles core to the greater blockchain movement: transparency, decentralization, (relative) anonymity — yet in purely capitalist terms, we run into a conflict where our ethos collides with our desire to be compensated for our work.

So how do we, a for-profit open-source technology project, justify putting money in our pockets while still touting our advocacy for a “community-first” mission where end users supposedly get the most benefit? And why would we not protect our proprietary code and force our future competitors to code their own staking pools? …


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“black and gray laptop computer turned on” by Markus Spiske on Unsplash

Your heart sinks. Your breathing slows so much, you appear to be holding your breath. Your eyes widen and you feel sick to your stomach as you come to terms with the number glowing on the screen in front of you: your smart contract has been hacked. Somehow.

Let’s avoid this situation — at all costs — shall we? Let’s make ourselves aware of all known attack types and teach ourselves how to avoid them so we can sleep soundly at night.

Resources

Before we dive in, I highly, highly recommend supplementing what you learn in this article by going through…


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“two roads between trees” by Jens Lelie on Unsplash

I never knew I’d work in tech. When I first moved to New York right out of college, I had two suitcases, a fresh business degree, a few thousand dollars, and no job. I’ve never been here before, and I knew exactly zero people. I found a place on Craigslist in Long Island City, a small bedroom in a 3BR ghetto basement apartment that I shared with broke middle-aged musicians. …

Joel Foster

I want to use technology to enable a more efficient, informed, and empathetic world. Product Manager in NYC. Ethereum enthusiast. Cofounder of OMGpool.org.

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