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OMG Network (OMG) is the 207th largest cryptocurrency in the world by market cap, valued at $232,246,379. The current price of OMG Network is $1.656, which is -2.588% lower than yesterday. Prices have ranged between $1.75 and $1.63 over the past 24 hours. All prices are listed in US dollars and accurate as of February 07, 2023 02:02 UTC.
OMG Network, (formally OmiseGo) is a layer-2 scaling solution for Ethereum. Instead of ethereum being capped at 25 tx/s with high gas fees, the OMG Network is said to be able to scale ethereum to thousands of transactions per second.
Originally launched in 2017, the network has been in development until 2020 wherein they launched their primary offering called plasma chain. OMG Network is a chilld chain, or sidechain that is interoperable with ethereum. This allows users to transact much more cheaply with ERC20 tokens that are too expensive to swap on the base layer of ethereum.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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