OWO, found online at OWO.World, is a cryptocurrency backed by automated intelligence. Find out what that means today in our review.
What is OWO?
OWO coin is a digital currency that derives its value from a range of different applications, including trading bots, games, daily deals platforms, dating apps, viral content, and more. The unique name of the digital currency comes from the Yoruba word for “money”. Yoruba is the official language of Nigeria.
The lead application in the OWO ecosystem is called OWO.world. On OWO.world, bots make trades on your behalf 24 hours a day, 7 days a week using major cryptocurrency exchanges like Binance, Bittrex, Poloniex, and more.
Other applications preparing to launch in the OWO ecosystem include Grabbit, Gamerholic, Cannabis DC, Money Mouf, Africana Fashion, and a dating app.
Overall, OWO coin claims to be the world’s first “sentient” cryptocurrency. The coin is also a continuation of the Gamerholic coin, which was established several years ago as a unified cryptocurrency for gamers worldwide.
How Does OWO Work?
OWO is a SHA256 cryptocurrency that uses a hybrid PoW/PoS consensus mechanism to guarantee fast transaction times and a secure network.
There’s a total supply of just 2 million OWO tokens currently in circulation. However, there’s an unlimited maximum supply of the cryptocurrency. New coins are minted every 60 seconds, and the blockchain has a block reward of 2.5 OWO.
As of April 2018, OWO is not listed on any cryptocurrency exchange. One of the reasons is because OWO uses a unique transaction protocol. OWO has launched its own Proof of Transaction (PoT) protocol that allows peer-to-peer swaps without the need for an exchange.
The long-term goal of OWO is to build the value of the currency by launching a variety of applications targeting sectors across industries.
The overall goal of OWO is to democratize multiple parts of the world. The goal is to harness the power of blockchain to remove limitations on borders, lower the high costs of financial transactions, and enable collaborative investing among trustless groups of individuals.
Users interact with the OWO ecosystem through their own dashboard. You can use your dashboard to transfer OWO coins to another wallet – say, if you want to transfer currency to another user. You can also load up and order your OWO Debit Card, which can be used for real world transactions. When spending money from your OWO Debit Card, your OWO tokens will automatically be converted into your local fiat currency.
The OWO ICO
The OWO ecosystem is in the relatively early stages of launch. The company is continuing to develop applications for use within its ecosystem. That’s why the OWO ICO isn’t scheduled to begin until June 2018.
You will exclusively be able to purchase OWO tokens using US Dollars during the token sale.
What makes OWO unique from other currencies? Here are some of the unique features within the OWO ecosystem:
Proof of Transaction: Proof of Transaction is a mechanism that allows OWO users to customize the price they wish to pay for each OWO transaction. The higher your fee, the faster your OWO transaction will be processed. Overall, OWO mining requires little computing power in comparison to currencies like bitcoin, so transaction costs are expected to be low. There will also be no transaction verifications required when moving OWO tokens between members.
Smart Addresses: OWO also implements a unique feature called smart addresses. An OWO smart address is an easy-to-understand location on the OWO blockchain. Typically, a cryptocurrency address is a long, incomprehensive string of numbers that you need to copy and paste. With OWO, “smart addresses” will allow you to generate an address that’s easier to understand. Users can send an OWO transaction to your wallet using an address that looks more like “Andrew1” instead of “x349jadsfinx901234”.
Seeds: OWO has a unique “seed” system where you can setup an OWO seed, then watch that seed “grow” over time. Your seed will attract OWO tokens over time, allowing you to reap token rewards will contributing stability to the network.
OWO Blockchain Tech Specs
The OWO blockchain is built on the following tech specs:
Block Time: 60 seconds
Annual Staking Interest: 4%
Staking Age: 8 hours
Emission Schedule: 100 OWO (from blocks 0 to 10,000), then 2.5 OWO (from blocks 10,001 onward)
Who’s Behind OWO?
OWO’s development is led by Anari Sengbe. He’s best-known for founding ProducTank, a San Francisco-based product development firm launched in 2015. He also continues to run Gamerholic, which a cryptocurrency-based platform aiming to unite gamers worldwide. OWO is officially a subsidiary of ProducTank LLC.
Sengbe’s LinkedIn page claims he has worked as an advisor for companies like Mercedes Benz, HP, and Emirates Airlines.
Other listed members of the OWO team include Christopher Crawford (Bot Ops) and Terek Sengbe (Gaming Applications).
Although OWO’s main development team seems to be based in San Francisco, the company lists a location in Washington, DC as its headquarters.
OWO is a cryptocurrency designed for use within an ecosystem of decentralized applications. Those applications will include gaming platforms like Gamerholic, dating apps, cryptocurrency trading platforms like OWO.world, and more.
To learn more about OWO and its upcoming June 2018 token sale, visit online today at OWO.world. Right now, there’s limited information about the platform available online, although we expect more information to be released over the coming months as the platform begins to roll out.