Bitcoin meets blockchain applications
In the beginning there was nothing, which exploded.
― Terry Pratchett
Information + Resources
OmniLayer, formerly Mastercoin (pre-2015), adds C++ language support to the Bitcoin blockchain. It is a platform designed to enable secure and fast cross-currency trading (as well as cashing out) and smart contracts using Bitcoin’s horsepower, as in it’s targeting the banking sector as well as blockchain 2.0 applications. Omni’s protocol powers USD Tether coin, a bank-trust backed token to “tether” the value of coins to USD – one of the most widely used stores of value in the world.
Omni also serves as the platform for MaidSafe and Synereo, two other popular platforms with cryptocurrencies. Omni thus currently handles the most transactions on any blockchain, and its recent work will allow functionalities similar to that of Ethereum. In fact, Ethereum’s creator Vitalik Buterin worked on OmniLayer before forming his own team.
Omni is showing great promise as the tech improves, and it’s up 150% as of 20:00 AK time on May 30, ’17. On their twitter, they remarked that their coin was undervalued. Omni’s low token count could cause it to explode in value further, especially as it brings some of the great functionality of other newer blockchain technologies to the oldest and most secure blockchain, Bitcoin, which needs the update to stay around.
This is worth watching, may be worth jumping on to if you want to test an exploding market and volatility. The long term definitely looks good if their tech develops as promised. The market could go either way depending on the integrity and relevance of the tech, and right now it’s probably only going to go up. Omni is building a rival platform to Ethereum and Stratis, as well as BitShares, and for the most well-established blockchain. This will not be without its bumps in the road, however. Watch out for news on this!
Future: Bitcoin 2.0
// Written May 30, ’17. Price at the time: $30 / OMNI
// Edited June 18, ’17. Price at the time: $52 / OMNI
// Edited June 23, ’17. Price at the time: $70 / OMNI