OmiseGO builds a decentralized exchange, liquidity-providing mechanism, clearinghouse message network and asset-backed blockchain gateway. OmiseGO is not the property of a single party. Instead, it is an open distributed network of validators that enforces the behavior of all participants. It uses the mechanism of a protocol token to create a proof-of-stake blockchain to enable market activity to be maintained among participants.
This high-performance distributed network forces exchanges between asset classes, from fiat-backed issuers to fully decentralized blockchain tokens (ERC-20 style and native cryptocurrencies). Unlike almost all other decentralized exchange platforms, this ensures decentralized exchange of other blockchains and between multiple blockchains directly without a trusted gateway token. M.a.w. One can exchange real-time peer-to-peer digital value via OMG without the intervention of banks and governments. This can be from fiat money, cryptocurrencies, airmiles, etc … Their motto is as follows: “Unbank the Banked”.
Markets may significantly reduce spreads and promote market insur- ance by decentralizing guardianship and increasing the transparency of market activity.
OMG is designed for the Plasma architecture, the leading Ethereum Layer 2 scalability solution, co-developed by Vitalik Butterin.