It has been just a few months since OMG Community’s (rebrand from OmiseGo) acquisition by GBV & additionally a bit since it has been talked about right here on r/ethereum so I believed i would share their newest replace in addition to my private expertise with the acquisition to this point.
Edit: For these of latest to OMG Community, it is a Layer-2 Plasma scaling resolution for transferring worth on Ethereum. This is learn on what Layer 2 scaling is https://gourmetcrypto.substack.com/p/layer-2-for-beginners
Latest Tech Updates:
Growth smart it appears the OMG crew (core builders stayed after acquisition) is dashing up and increasing to creating it is personal apps reminiscent of Hashcast (https://www.youtube.com/watch?v=74p-MzXPsok) and Varna DEX (https://mobile.twitter.com/omgnetworkhq/status/1374344403569975296).
Hashcast seeks to coordinate Atomic Swap and is on the market for Builders to check from what i’ve learn.
Varna seeks to be the primary decentralized change to stop front-running by using Hashcast.
Quasar quick exits are additionally completed and in audit with a type of staking built-in in it is future launch and hopefully shall be utilized to decongest eth by the group as an entire with quicker/cheaper transfers. At the moment its a 2 week exit interval which appears to be an enormous deterrent in direction of community use.
My Private Expertise w/ Acquisition:
General because the acquisition, imo, GBV has confirmed to be useful to OMG as an entire.
The brand new (administration) crew positively appears to be extra targeted on creating apps and worth that can be utilized sooner somewhat than later which I believe is a superb change of tempo. They’re additionally engaged on new tech and improvements which have but to be achieved inside crypto AFAIK. I am glad they’re pushing in direction of innovation & merchandise as a substitute of making an attempt 1 huge catch because the earlier crew tried (and did not do).
The OMG Labs engineering updates are an try to speak extra with the group with stable progress based mostly updates somewhat than guarantees and the pinnacle honchos ceaselessly (much less ceaselessly recently) pop into the OMG telegram chat and provides their ideas. Extra communication is at all times good IMO so no complaints right here however much more is at all times nicer.
HOWEVER, the successfulness will actually come right down to the utilization of the OMG Community. GBV has made it clear that that is their #1 focus and it appears Hashcat, Varna, and Quasar all hope so as to add in direction of the community use.
tldr; GBV is making an attempt to make OMG community utilized extra with new Apps & quick exits, quick time period success will depend upon if it really works and community is utilized.
For anybody that wishes to remain updated, the Official Telegram is the place most information pops first. Following the twitter can be an answer. Telegram hyperlink is posted below any each day dialogue submit on OMG Networks reddit.