{"id":2891,"date":"2018-01-05T04:10:28","date_gmt":"2018-01-05T04:10:28","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=2891"},"modified":"2018-01-08T12:33:29","modified_gmt":"2018-01-08T12:33:29","slug":"omisego-favorite-crypto-token-vitalik-buterin-hits-20-63","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/omisego-favorite-crypto-token-vitalik-buterin-hits-20-63\/","title":{"rendered":"OmiseGo, Favorite Crypto Token of Vitalik Buterin, hits $20.63"},"content":{"rendered":"

\"\"Last month, Vitalik Buterin<\/a>, the creator of Ethereum, tweeted that his favorite crypto currency token is OmiseGo (OMG)<\/a>. When a person of such a stature posts a tweet of that kind, it is but natural the concerned crypto coin will sky rocket, and OMG was no exception to the rule. From a low of $10, OMG blasted to reach about $20 in a month. <\/p>\n

Buterin\u2019s tweet was the main driver behind the rally. However, the coin seems to have great potential as explained below.<\/p>\n

Established in 2013, Omise is a venture-backed payments company operating in Thailand, Singapore, Japan, and Indonesia<\/strong>.<\/p>\n

The OmiseGO block chain comprises a decentralized exchange, liquidity provider mechanism, clearinghouse messaging network, and an asset-backed block chain gateway. It is a scalable and a totally public block chain whose Proof-of-Stake consensus is bonded by the activities of the chain itself. The OMG chain is designed to operate trading across chains (e.g. ETH-BTC). It is not a medium-of-exchange token and has a clear valuation model.To justify the claim, Buterin tweeted<\/p>\n

<\/p>\n

\n

Right now my favorite token model is OMG-style staking tokens. Reasons:<\/p>\n

* Not a medium-of-exchange token
* Clear valuation model (expected discounted future tx fees minus node operation cost)
* Requires running node to get returns, not passive income (so more legally defensible)<\/p>\n

— Vitalik Buterin (@VitalikButerin) December 12, 2017<\/a><\/p><\/blockquote>\n