OMG Network (OMG)

CryptoOMG Network (OMG)

OMG Network has a price of $ 1.93 with a marketcap of $ 270.53 M. It ranks number 133 of all cryptocurrencies.

OMG Network, formerly known as OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. As an Ethereum scaling solution, OMG Network is build to allow users to transfer ETH and ERC20 tokens faster and cheaper than when transacting directly on the Ethereum network.

The network is based on a novel scaling solution called MoreViable Plasma, which uses a sidechain architecture to group several transactions off-chain into a batch, which can then be verified as a single transaction on the Ethereum root chain. According to OMG Network, this technology has the potential to scale Ethereum to 1000s of transactions per second (TPS) — instead of the 10 to 14 tps Ethereum 1.0 is currently capable of.

The network is powered by the OMG token, which can be used as one of the payment methods for fees on the OMG Network (OMG), and will be stakable and helping to secure the network in return for rewards.

omisegoOMG Network
$ 1.93

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