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 designed to allow users to transfer ETH and ERC20 tokens significantly 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 thousands 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 utility token, which can be used as one of the payment methods for fees on the OMG Network, and will eventually be stakable — helping to secure the network in return for rewards.
3 December 2020
Investment firm Genesis Block Investment (GBV) has announced the acquisition of blockchain platform OMG Network. This development was revealed in a press release on December 3 and would bring new changes to the OMG Network ecosystem.
19 Mar 2021
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Hashcast – Public Beta available!
Reasons of trade:
Old project I'm following since 2017, always solid and serious.
Everything I'm posting is a serious project and had a lot of research before any analysis on chart.
Trade valid as long as S3 holds.
Current closed trades (with success!):
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