OMG Network price
Current price
$0.0401
−0.55% 24h
Live Updated just now
Of the exchanges we read, only MEXC has a current price for OMG Network, so the price is the last trade there, with no other exchange to check it against.
Today OMG Network slips 0.5%, outpacing the market.
Scroll to zoom · drag to move · ← → to read prices Pinch to zoom · press and hold to read prices
View as table
| Time | Price |
|---|
Change by period
- 1 hour −0.62%
- 24 hours −0.55%
- 7 days −10.51%
- 30 days −24.15%
- 1 year −60.89%
OMG Network's move in context
Beating the market today
−0.55% in 24 hours against −1.76% for the market as a whole, a gap of 1.2 points. Small gaps like this are common, so they don't point to anything specific.
- We compare the last 24 hours with this coin's typical day, from 26 recent days (up to four weeks). We only count exchanges we read on both days, so an exchange we've just added doesn't look like extra trading. This describes trading, not where the price goes next.
$56.95K traded in the last 24 hours on the exchanges we read, close to its usual day.
Part of a slide
−10.5% over 7 days and −24.2% over 30 days: the recent move continues the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
Where to trade OMG Network
So far we've found OMG Network on MEXC, among the exchanges we read.
Each exchange's last price against our price above. Listed for convenience, not as advice: check that an exchange is allowed where you live.
About OMG Network
Overview
OMG Network, formerly known as OmiseGO, is a layer-2 scaling solution aimed at enhancing transaction speeds and reducing costs on the Ethereum blockchain. Its core mission is to promote financial inclusion by enabling seamless, secure, and efficient transactions, particularly designed for businesses and developers looking to build decentralized applications (dApps). OMG Network distinguishes itself with its unique approach to addressing the scalability trilemma, focusing on high throughput and low latency while maintaining security and decentralization. It operates under the principle of empowering users globally, providing services that enhance their everyday financial transactions.
Technical Features
OMG Network utilizes a modified version of the Plasma framework as its underlying technology, allowing it to process a high number of transactions off-chain while ensuring security through the Ethereum mainnet. The consensus mechanism employed is the Proof-of-Authority (PoA), which enhances the speed of transaction confirmation and overall network efficiency. This architecture allows for the bundling of multiple transactions, enabling a significant reduction in on-chain data, thus lowering gas fees and increasing transaction throughput to thousands of transactions per second.
Additionally, the network features a robust security model that includes features like fraud proofs and exit mechanisms, ensuring users’ assets are protected against potential vulnerabilities. Through these technical capabilities, OMG Network positions itself as a cost-effective alternative to standard Ethereum transactions, facilitating quick and cheap transfers of assets.
Use Cases
OMG Network primarily serves a variety of use cases, primarily focusing on enhancing decentralized finance (DeFi) applications. It enables users to engage in efficient trading, lending, and borrowing of digital assets. It also plays a vital role in cross-border payments, allowing for cost-effective transfers that are important for individuals and businesses operating on a global scale. Moreover, the network supports the use of non-fungible tokens (NFTs), enabling artists and creators to tokenize their work securely. The integration of smart contract functionality provides developers with a versatile framework to build a wide array of dApps, broadening the network's applicability across various sectors.
Development Background
OMG Network was launched in 2017 by Omise, a leading payments company in Southeast Asia, as part of its vision to create a more inclusive financial ecosystem. The project garnered significant attention, particularly during the wave of interest in Ethereum-based solutions. After developing and testing the original concept, the network was rebranded as OMG Network in 2020. Over the years, it has undergone various upgrades and improvements to enhance scalability and security, positioning itself favorably in the competitive landscape of blockchain solutions.
Community and Ecosystem
The OMG Network boasts a vibrant ecosystem supported by an active community of developers, users, and strategic partners. The network has established various collaborations with notable organizations and blockchain projects, enhancing its utility and reach. A thriving developer community contributes to ongoing enhancements and applications built on the network, ensuring diverse use cases from payment solutions to DeFi platforms. Furthermore, education and outreach initiatives foster a wider understanding and adoption of the technology among potential users and developers.
Future Potential
The future potential of OMG Network is remarkable, with its technology poised to revolutionize how transactions are conducted in decentralized environments. The ongoing development roadmap includes enhancements aimed at increasing scalability further, integrating with more blockchains, and improving user experience. As decentralized finance and blockchain technology continue to gain traction, OMG Network's capacity to facilitate low-cost, high-speed transactions positions it well for future growth and adoption. Its strategic partnerships and focus on delivering value through innovation suggest a promising trajectory, making it a cryptocurrency to watch in the evolving landscape of blockchain solutions.
OMG Network market
- Price × coins in circulation. It measures a coin's size, not its quality.
- We show a market cap only once the coins in circulation are confirmed by a source we read ourselves, such as an exchange's published figures or the project's own. Until then a coin has no market cap or rank here.
- Price × coins in circulation. It measures a coin's size, not its quality.
- We show a market cap only once the coins in circulation are confirmed by a source we read ourselves, such as an exchange's published figures or the project's own. Until then a coin has no market cap or rank here.
- Dollars traded in the last 24 hours on the exchanges we read, in pairs against the dollar or a dollar stablecoin such as USDT. Sites that count more exchanges and pairs show higher figures.
- $56.95K
- on the exchanges we read
- Dollars traded in the last 24 hours on the exchanges we read, in pairs against the dollar or a dollar stablecoin such as USDT. Sites that count more exchanges and pairs show higher figures.
- The lowest and highest price we recorded in the last 24 hours. The dot marks the current price.
- Low $0.0385 High $0.0408
- The lowest and highest price we recorded in the last 24 hours. The dot marks the current price.
- The highest price in our records for this coin. The bar shows the current price as a share of it.
- $25.62
- Now 0% of it Reached 13 Jan 2018 · Needs +63,758% to get back
- The highest price in our records for this coin. The bar shows the current price as a share of it.
- Coins that exist now and can be traded.
- Not checked yet
- Coins that exist now and can be traded.
- Every coin created so far, minus any destroyed, including coins that are locked up.
- 140.25M OMG
- Every coin created so far, minus any destroyed, including coins that are locked up.
- The most coins that can ever exist. Some coins have no limit.
- 140.25M OMG
- The most coins that can ever exist. Some coins have no limit.
OMG Network converter
1 OMG Network = $0.0401
