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OMG Foundation (OMG ) Crypto Exchange

Access the best OMG exchange rate on ChangeNOW and perform an instant conversion. No limits, accounts, or worries. Spend your time and energy on what matters — we’ll handle the rest.

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OMG Market Data

OMG market information

OMG Network Price is $0.1542. Its current circulating supply is omg 140,245,398 with a market cap of $21,624,063.64.

PRICE

$ 0.1542

MARKET CAP

$ 21,624,063.64

24h % PRICE

4.24 %

24H VOLUME

$ 2,606,419.8

7d % PRICE

-5.39 %

COIN SUPPLY

140,245,398 OMG

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Why exchange OMG Network (OMG) on ChangeNow

The average time for exchange is about 2 minutes. You can track the crypto swap progress on the exchange page.

  • 98%Triumph Rate🔥
    Swaps completed with the better exchange rate or deviated from estimate for less than 0.5%
  • 5MstarSatisfied Clients
  • 2 minAverage Exchange Time
  • 1324Currencies available for exchange
How it works?
Fast crypto exchange

Top cryptocurrencies to exchange with OMG

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What is OMG Foundation (OMG)

The OMG Foundation, previously known as OMG Network and OmiseGo, is a layer-2 scaling solution for Ethereum. It was founded in 2017 by, a Thailand-based fintech enthusiast, Vansa Chatikavanij. Currently, there is a team of over 50 people behind the project.

The core mechanism behind the project is called MoreViable Plasma (MoreVP): it groups several transactions off the Ethereum network to get them processed as one and then returns them for final validation. It helps decrease transactions’ duration and costs. In this case, OMG Foundation handles thousands of transactions per second and managed to reduce their cost by one-third. The cost is lower due to gas fees being paid for a group of transactions rather than each transaction separately. MoreVP also utilises the UTXO-based transaction model which helps prevent the double spending issue.

The decentralized security of the network is achieved with the help of the “Watchers” — a network of computers, supervising the block that produces nodes, an Operator. Any user can become a watcher monitoring the network. Currently, the OMG Foundation uses a Proof of Authority algorithm, however, it is planning to move to the Proof of Stake algorithm. Once that happens, the OMG token will not only be used for paying transaction fees but also as a staking mechanism.

The OMG Foundation is planning to launch a new token, BOBA, in November 2021. The said token will be used for governance and rewards on the Boba network, a layer-2 scaling solution for Ethereum.

OMG FAQ