You can use our OMG calculator to check the exact amount of coins you will get after the exchange is complete.
OMG Foundation (OMG ) Crypto Exchange
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OMG Market Data
OMG market information
OMG Network Price is $0.2625. Its current circulating supply is omg 140,245,398 with a market cap of $36,808,535.85.
PRICE
$ 0.2625
MARKET CAP
$ 36,808,535.85
24h % PRICE
-1.86 %
24H VOLUME
$ 10,605,977.5
7d % PRICE
-0.72 %
COIN SUPPLY
140,245,398 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
You can use our services to exchange OMG for any of the 450+ cryptocurrencies available on our website. We do not require registration, have no limits for exchanges, and do not store your funds.
We offer two rate flows to purchase OMG with classic rate and fixed rate. Classic exchange rates may vary depending upon network fees, market rates, and other conditions, while fixed rate protects you from market fluctuations.