OmiseGo Releases Open Source Wallet Code for Developers

Published on February 28, 2018 by Cryptovest Staff

OmiseGo (OMG) made a step in expanding its fintech ecosystem, by releasing the code of its wallet to invite providers for tests.

"As previously mentioned, blockchain support is not yet included; integration with the OMG Network and a clear migration path to full decentralization will be provided in the future," reminded Jeremy Lam, product lead at OmiseGo.

The OmiseGo GitHub repository now reveals the wallet code and a software developer kit for mobile versions. All changes made by the team to the SDK will be visible, allowing wallet and payment providers to make plans in building up the OmiseGo fintech ecosystem.

The@omise_goeWallet SDK is now open source!https://t.co/P1J2BGKiQB#OMG

The chief promise of OmiseGo is to handle numerous transactions via "sharding", or making settlements off the main Ethereum blockchain.

The market price of OMG remains largely unchanged on the news, as recently general optimism lifted the coin to around $20. Now, OMG has dropped by around 4.7% in the past 24 hours to $19.22. The OMG digital asset is seen as a long-term proposition for 2018, as the coin has appreciated, but so far only works as an Ethereum-based token, without having utility as an asset in a fintech ecosystem.

Most of the OMG trading is speculative and based on Asian sentiment. But the asset is seen as a good addition to a portfolio containing NEO and QTUM as well. In the past months, the OMG coin has seen little promotion, and it is in the speculative trading stage, but as products and wallet versions appear, the visibility and popularity of OMG may rise.

On the business side, there have been rumors that the Omise project, and by extension, OmiseGo, may see partnership with a big financial conglomerate. But so far, no news have come from either the crypto community, or banking entities. Such partnerships could mean the possibility for significant transfer of value through the OmiseGo network.

But the problem is, such viable partnership may still require a working solution for speed and scaling. So far, the OmiseGo project is still at an early stage, but the release of the software developer kit remains encouraging.