OmiseGo And Status Join Hands In A Bid To Enhance Decentralization

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There seems to be a reason to smile for Ethereum enthusiasts. Both OmiseGo and Status seem to read from the same script in regards to decentralization, they have since reached a decision to come together.

Status, which is a payment network that uses Ethereum reported that it has partnered with OmiseGo, which focuses on the financial sector. This will enable the crypto firm to merge OmiseGo’s DEX wallet with its own wallet. DEX is known to use the Plasma technology. This will be beneficial to Status’ users who will now be in a position to access DEX from their mobile phones.

Collaboration

The two firms promised to collaborate in making sure that the merger of DEX ensures transfer of data and code is easy. They also plan to work together in their research to expand.

Status was launched last year and it is famous for a $100 million sale of initial coin offering in a single day. It uses a peer-to-peer system that allows users to send both smart contracts and payments to their friends. It also allows users to access the Ethereum network from any location via the mobile devices.

The mobile application can be accessed by users from the firm’s website as well as from the GitHub page.

OmiseGo, which is based in Thailand provides a single system that allows processors or financial firms to transact in rural areas and urban areas. The OMG system allows users to transact in different currencies as well as several digital currencies.

Status will now integrate OmiseGo’s system to its own network so as to enable cross-chain trading and compatibility of blockchain transactions using digital currencies such as Bitcoin and Ethereum.

Good rapport

Status disclosed that it has had a good rapport with OmiseGo’s founder Jun Hasegawa. This is as a result of the realization that the two firms have the same goals. They have been attending several research forums as well as the Ethereum Community Fund.

Status indicated that this partnership will enable it to tap into the unbanked communities’ market. It will be in a position to offer financial services to the rural areas that have no financial institutions.

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