OmiseGO, decentralized exchange on Ethereum blockchain has released a new long-term plan. It lacks the infrastructure of the Cosmos DEx, allowing to exchange the assets without involving cryptocurrency. Her replacement will begin in the fourth quarter of 2018.
Instead, the company will use the Plasma. However, the Cosmos team will continue to work on parallel bloccano for Omise.
“Simply put, at a certain height of the block will be recorded in the balance of all accounts and all the addresses of wallets, which holds the OMG, will receive the equivalent number of tokens Cosmos DEx (not to be confused with the ATOM; the Cosmos DEx will have its own native currency). As mentioned, we will notify users two weeks before check balances”.
Decentralization Plasma DEx will have two stages. Initially the network will provide a centralized mechanism for mapping applications, but “users will retain control over their funds through a system of “free” settlement in the network OMG Plasma”. The second stage means complete decentralization of the portfolio and comparison of bids will be transferred from the main chain on the network Plasma. The exact date of the final transition to Plasma DEx is unknown.
The functionality of the new OMG will be expanded through the exchange of heterogeneous tokens, lack of message confirmation in a consensus mechanism Tesuji Plasma, regular payments, contingent payments, suppression applications, advanced protection, scalable blockchain. Currently these functions are in the process of development.
OMG developers managed to solve the problem of scaling and to optimise the consensual mechanisms of PoS and integration with bloccano Ethereum. At the initial stage the defense is going to be PoA, in which the only operator is OmiseGO. This structure provides for transactional taxes; however, they are necessary for reflection DDoS attacks. In addition, they will not bring Omise no income: all funds accumulated from fees charged for transfers will be used to purchase tokens OMG with the subsequent destruction.
We also learned that the parent company OmiseGO opens a subsidiary for the acquisition of centralized exchanges to create a network of external trading platforms.
The updated business plan OMG not said exactly how the developers plan to replace the system confirmation. Perhaps this will provide a total for the Plasma upgrade, proposed by Vitalik Baleriny.