OMG - If you know, you know
OMG - If you know, you know
Jaxon Ward
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Ethan Carter
zk rollups are just the better technology. same advantages, less disadvantages. i remember that there were people 3 years ago who tried to push the OMG team to work on zero knowledge research but they wanted to stick to plasma and now have an inferior product (which, btw, still has open research questions).
That talk about "enterprise ready" has no substance, there are existing rollup providers (like loopring or matter labs) who happily support new projects and if you have the expertise you can easily become a rollup provider yourself.
Bentley Bailey
Zkrollups are better suited to scaling smart contracts. OMG is better for scaling transactions and tps potential is much higher on OMG. Vitalk said this today, and mainnet tps show this to be the case. Deal with it faggot.
Cameron Collins
it's funny that you're bringing up this post, given that the whole reddit thread is about him tweeting: "Rollups are considerably further ahead than plasma at this point."
twitter.com
and tps isn't even at a maximum in current rollup implementations, so the advantage he is describing in the reddit post will go away once rollups are fully developed.
Jacob Ortiz
>rollups are better
Nope. First of all, rollups are still experimental. They also require KYC and are not enterprise friendly at all. Take loopring for example - need the token in sending and receiving address, need to pay fees to set up account and word, centralised set up of account, and no enterprise customisation and built out dApps - no business wants to trust and pay for that, with such an untested technology.
OMG has all these advantages over rollups, and they are obviously trusted because tether, Bitfinex, Toyota are all going to use it as a scaling solution.
OMG plasma is perfect for transactions because it has layer 1 security and huge tps compared to rollups. Rollups are less secure but can scale contracts. OMG can’t, but that’s not what it’s going for because there’s no money in it. Rollups are great for things like games on blockchain, because it’s not as reliant on security or high tps. Vitalik also agrees with this btw as he has clarified.
So rollups can keep games, but for actually moving money and generating transaction fees, OMG is the only solution that matters. Which is why tether is going to use it. Money talks, and if rollups were better than OMG, then tether would trust them with the billions of dollars of tether rather than OMG
>tl;dr BUY OMG you retard before it’s too late
Luke Rodriguez
Funny how omg can alread do 4k tps and rollups are still aiming for 3k tps maximum, whereas as ethereum scales so does plasma, unlike zk rollups. Funny that.
Brody Reyes
Did you even read the thread? He’s talking about GENERIC ETHEREUM CONTRACTS and even capitalised it so retards like you wouldn’t miss it. But you still missed it. OMG scales TRANSACTIONS only, not generic contracts. Rollups are further ahead in this regard because no one else is even trying to use plasma to scale contracts. This is completely irrelevant to OMG as they are not aiming to scale contracts, only transactions of value which is where the money is. Why the fuck do you think tether are using OMG if rollups were better?
Seriously this is getting embarrassing, you link a twitter thread and can’t even comprehend what it says. Just more validation that OMG is going to the moon when retards like you try to fud it.
Aaron Green
what are you talking about, there is no KYC with rollups. this loopring shitcoin just grants some lower trading fees and that's not even worth it. accounts are fully non-custodial and the rollup provider cannot steal your funds. in looprings implementation they could potentially censor trades, but in zksync even this isn't possible (it doesn't even require a trusted setup).
And I have yet to see a single service that requires 3000 payments per second. Visa averages around 1700 tps and when those capacities are required for crypto, rollups will be able to handle it as well.
Colton Stewart
>he’s a matter labs shill
I understand now. I’m sorry that nobody is using your shitty untested scaling solution, do you think that anyone with half a brain is ever going to deposit funds in layer 2 rollups solution when OMG Network is scaling tether completely trustlessly? As if tether and Bitfinex wasn’t enough, Vitalik himself agrees that OMG is better for value transacting.
Nathaniel Taylor
not a matter labs shill, I actually haven't event tried their service yet, I only played around with this loopring exchange (and had a good experience).
> Vitalik himself agrees that OMG is better for value transacting
he never said that, he merely acknowledges that OMG has a higher throughput at this point. look, it's possible, and even likely, that your bag will pump again but 3 years ago OMG was the goto solution for L2 scaling and now it absolutely isn't anymore. just don't expect to retire on your OMG tokens and you'll be good.
Jaxon Barnes
user, I...
Justin Green
>I only played around with this loopring exchange
Loopring is not an enterprise scaling solution, you should know this if you’ve used it. There’s even a maximum number of users ffs, it’s not a sustainable solution which is why it’s never going to be used en mass.
>he never said that
Please seeHe says plasma will be better for transacting, nothing more to dispute.
OMG IS the go to ETH scaling solution because it’s billed to be used by the biggest players in the business. Your fud is completely blown apart by the fact that tether and Bitfinex want to use OMG and not rollups. It’s that simple
Adam Gonzalez
This.
/plasma
Ethan White
What exactly prevents tether from migrating to rollups at a later date when it is more established?
Cameron Sanchez
>they are obviously trusted because tether, Bitfinex, Toyota are all going to use it
Imagine buying the car company partnership meme in 2020.
Anthony Wright
Enterprise ready doesn’t mean what you think it means. Where are the rollups building out dApps for 3rd party business? Where’s the interoperability? Where are the teams customising network interface for businesses? Doesn’t happen with loopring (so many obstacles in the way) and it isn’t happening with ZK Sync, they aren’t even close to being able to offer that kind of service where a large business could approach them and ask for a full suite of applications and programs to integrate their service with the network. This is what enterprise solutions do and it’s exactly what OMG is doing for Bitfinex, Tether and Toyota. They’re also offering a loyalty points program powerr red Ed by the network for Citibank card users in Thailand. That’s what enterprise adoption looks like.
Come back to me when that happens for rollups, they’re still experimental and no business is going to use them for valuable transaction infrastructure.
Joshua Sanders
>offering a loyalty points program
>That’s what enterprise adoption looks like
It's what the 2017 large cap shitcoin playbook looks like
Chase Thomas
You’re assuming that
- rollups work as intended and aren’t found to be an incomplete method of scaling
- rollups are eventually built to allow crypto companies to build out enterprise level services, and that rollups are compatible with this
- rollup scaling providers successfully implement an enterprise grade service
There are big question marks over all of those. Meanwhile, OMG will be cementing itself as the enterprise scaling solution, and will build a history of reliability for users.
Once a business is using OMG, why would it use anything else? OMG is cheaper, and can scale more with the security of layer 1. What is there to incentivise tether to migrate to rollups? The fact that OMG can’t scale contracts? Tether doesn’t need that. OMG is a value translating scaling solution and that’s all that this particular brand of plasma is designed for, and it does it very very well. There’s simply no reason tether would move to roll ups as they aren’t interested in scaling games or whatever other little projects people want to scale contracts for.
Jordan Bailey
It’s not a partnership for cars moron, read Toyota’s general address from Dec 2019 and watch their blockchain video from a few months ago. They want to turn Toyota into a world wide leading e wallet provider, and cite the benefits of blockchain as being able to bypass local tax and currency jurisdiction are laws. OMG are building that wallet suite for them.
Parker James
Look at this faggot writing cringe ass shit like "if you know, you know"
This is the absolute state of this board. At least r/crypto just gets straight to the topic without trying to bait with flashy sayings.
Isaiah White
That is true and this package that Omise puts on top of their plasma chain is exactly why someone like Tether will be using for now. But they will just as quickly jump ship once there is someone offering similar conditions with a rollup setup and this is just a matter of time.
And yes, rollups are still kind of experimental, but so is the high throughput variant of plasma that will actually provide a benefit over rollups.
Nicholas Johnson
$360 billion loyalty points go unclaimed every year, many more time’s that are used. It’s a trillion dollar market with little competition and a great use case for a scaleable crypto
Anthony Russell
>360 billion loyalty points go unclaimed every year
yes and I'm sure business would love it if people actually used these points
Jaxon Walker
read the entire fucking twitter exchange
Matthew Barnes
all this nonsensical fud reminds me of early chainlink threads, nice
Aaron Murphy
Why would tether move if OMG are offering the same or better tps and fees, with layer 1 security?
The only thing rollups can offer that OMG can’t is scaling contracts, such as for games. But businesses who are interested in transacting value aren’t interested in that, so there’s no benefit to rollups for them.
Matthew Adams
"I'd agree plasma has high theoretical max scalability and so is a better solution for projects that (i) need payments and/or DEX and not the full suite of ethereum smart contracts, and (ii) need *really* high scalability, where even 3000 TPS is not going to be enough. So I'm happy OMG exists and I'm sure it will find important use cases."
Nolan Barnes
also don’t forget that serious businesses need to plan for the long term when setting up their infrastructure, only bizlets can believe that they’re happy to work with some loopring guys who can exit scam any day
vs these guys being backed by Toyota, shinhan etc while having entered mous with literally governments
who would you pick if you were a international conglomerate/bank/etc?
Xavier Diaz
Kek, my point wasn’t about the unclaimed points, but the size of the points economy as a whole, duh
Landon Gray
If you can't be bothered reading pic related that literally explains the title then good luck faggot. Go get spoonfed some vaporware scam like fantom or hex3 instead.
Brayden Walker
>The only thing rollups can offer that OMG can’t is scaling contracts
they also enjoy the security of the ethereum chain, which most likely will be the best secured PoS chain in existence.
loopring cannot exit scam, people can always get their funds out (much easier than on plasma btw). as I said, it's just a matter of time until someone will build enterprise grade products using rollups where they can do defi shit with almost zero fees. and then people will choose the stable coin that is available for these rollups and aren't stuck in some plasma chain. guess what tether will do then.
Owen Perez
Plasma enjoys the security of Ethereum too faggot.
Oh it's "only a matter time" hahahhaahaha said every theoretical shitcoin with 0 commercial backing ever
Eli Howard
by exit scam I meant the team moving on user, I’m fully aware of the exit potential on both zk rollups and plasma
also don’t forget that omg can simply implement zk snarks themselves if ever needed lmao
not sure if you’re just fudding or a matter labs shill, but if not, you might regret being so emotional about it user
Alexander Hernandez
no agenda, really. i basically have all my crypto money in ETH, so any L2 solution that is adopted is good in my book. but yeah, i should let go, all the best to your investments.