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New OmiseGo Version Launched: a New Era for OMG?

May 22, 2019 in Uncategorized


One of the leading cryptocurrency payment processors and exchanges in the world, OmiseGo has recently launched its second version of the OMG network. The new network is being dubbed as Samrong and in a recently published blog post, OmiseGo provides some insight on the updates to the Ari platform and what is in the future for Samrong.

OMG

When Ari launched in February this year, OmiseGo hit headlines for its minimal integration of Plasma – which was developed by Joseph Poon and Vitalik Buterin, both are advisors for the exchange.

The new launch has made some significant modifications to Plasma smart contracts. It builds on Ari’s Minimum Viable Plasma and runs a More Viable Plasma, increasing the functionality of the network.

As reported by BTC Manager:

“Samrong will allow users to sign transactions using the EIP-712 standard, meaning the signature can be carried out through integrations like Metamask. EIP-712 also allows Ethereum signatures to be displayed in a structured and readable format.”

On top of this, meta-data fields in the upgrade now allow users or dApps to store any information in their transactions.

Ari is now live but in the near future, the platform will be shut down in order to increase application development and block explorer capabilities for Samrong. With the network being upgraded with a better integration of Plasma, there isn’t really a need for Ari to carry on.

Users will have to migrate their Rinkeby Ethereum and ERC20 tokens from Ari to Samrong to make sure they aren’t left behind.

Plasma viability

The Plasma protocol was designed to scale smart contracts on a drastic scale for usage to include fraud detection, minimal trust, and offer a single ledger.

“It is regarded as one of the most ambitious efforts to scale smart contract on the Ethereum network and ever since the whitepaper, Ethereum has been trying to find a way to integrate Plasma but to no avail. The current Ethereum roadmap lists Plasma as an upcoming upgrade but with no implementation date given.”

Plasma smart contracts on Ethereum will be autonomous and enabled by Nakamoto consensus, which has the potential to change the whole landscape of blockchains for the better.



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