OmiseGo is one of the cryptocurrency projects which a lot of people are genuinely excited about. This blockchain-oriented venture focuses on scalability, proof-of-stake, and public decentralized exchange solutions. As such, the team has unveiled an updated roadmap, which includes some interesting upcoming developments.
THE ROAD AHEAD FOR OMISEGO
After successfully completing the OmiseGo initial coin offering in Q2 of 2017, there have been high expectations as far as this project is concerned. With $25 million having been raised rather quickly, there are a lot of opportunities waiting to be explored. One of the first orders of business will be to build and develop a decentralized exchange infrastructure, although that process will require a lot of time and effort.
The DEX infrastructure on top of OMG will provide a high throughput and proof-of-stake capabilities. At least, that was the goal while the Plasma technology was still in the research phase. Surprisingly, the team noticed that the Plasma development was coming together a lot sooner than initially expected, which has affected the team’s plans.
A few items have been removed from the OmiseGo roadmap as of right now. The Tendermint DEX – also known as Honte – is one of them, even though the code remains accessible on GitHub. Further development has been halted, though, as all attention is now on Plasma. Even so, the Tendermint DEX will ‘spoon’ to Cosmos DEX, which will still play a big role in the future of OmiseGo.
Once the Cosmos hub launches, the OMG token will be hard spooned. This will introduce a Cosmos DEX staking token airdrop, although some specifics still need to be worked out. A parallel DEX on Cosmos will still be developed, which will use the Tendermint PoS construction. This may be confusing to those not involved in OmiseGo right now, but it appears to be a positive change overall.
Plasma is still taking center stage as far as the future of OmiseGo is concerned. The decentralized exchange will be split into two phases, with a non-custodial Plasma DEX coming to market in Q4 of 2018. The full DEX – which will decentralize everything – still has no official release date as of right now, but it will launch at some point after Q4. There are still a lot of features yet to be built into this project.
All of this goes to show that the future of OmiseGo looks rather promising, even though there is still a lot of work to be done in the future. With so many features and projects still in development as of right now, the team will continue to work hard and improve upon the technology available today. Another thing to look forward to is the transition to hybrid – and eventually full – proof-of-stake, which will herald a new era for OmiseGo altogether.