The OMG Network enables faster and cheaper transactions in the Ethereum ecosystem. To do this, OMG uses a "sidechain". The actual transactions take place on a separate chain ("sidechain"), while the aggregated transactions are settled once on the Ethereum main chain. This allows developers and users to move their DApps and smart contracts out to the OMG Network, bypassing Ethereum's scaling issues. OMG is the native token of the OMG Network.
The scalability of Ethereum is a significant problem for its growth. Therefore, the problem OMG Network is trying to solve is very relevant. Nevertheless, there are tokens that solve the same problem but do it significantly better. Polygon Network currently allows >10 times more transactions per second than the OMG Network. Additionally, it is concerning that the social media sites of OMG have been noticeably quiet since the summer of 2021.
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OMG Network special?
OMG Network is apowered by,uses to validate transactions,and is.OMG Network also supports.
Interesting facts about OMG Network
Here are some facts you may not already know about OMG Network. Something surprise you? Go ahead, share it!Any fact missing? Contact us.
The solution enables cheaper and more transactions per second compared to the Ethereum main chain.
The OMG Network uses a sidechain to group multiple transactions into a batch and verifies them in one transactions on the Ethereum chain.
OMG Network uses the plasma chain, which enables side chains in the Ethereum Network. This technology is also used by Polygon.
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OMG Network price and insights
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-0% past 1 week
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Market capitalization Very small
24 hour trading volume Very small
Market cap % of total Very small
# Discord members -
# Telegram members -
% of total supply circulating Very small
What’s the community like?
Community matters for projects like OMG Network, because an active community drives the development of use cases for a blockchain project. The more people are active, the better to have healthy discussions and create something valuable.