OMG Network Price
About OMG Network (OMG)
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OMG Network is a peer-to-peer network for financial transactions across multiple asset classes.
OMG Network was described in a white paper published in June, 2017. OMG Network aims to create interoperability between different asset classes such as fiat and cryptocurrency. It is a layer 2 solution built on Ethereum with several key components. The first is the OMG Network eWallet, which holds multiple currencies. The second is Plasma, a scaling solution for the Ethereum. The third is the proposed OMG Network decentralized exchange (DEX) that will allow users to exchange different asset types. The proposed OMG Network DEX will have a proof-of-stake consensus mechanism.
Launch date: To be announced. The OMG Network eWallet has been released and is currently in public alpha.
OMG is the digital asset token used to pay for services on the OMG Network network. It is built on Ethereum in accordance with the ERC20 standard for tokens. OMG can be bought and sold for fiat currency or other digital currencies.
OMG can be stored in a crypto wallet and custodian like Gemini.
Learn more about OMG Network on Cryptopedia:
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The pricing data and asset description above are for general informational purposes only and are not investment advice. Buying, selling, and trading cryptocurrency involves risks. You should consult with your own appropriately qualified and licensed advisors before engaging in any transaction on Gemini. Some data is provided by Messari, a third party that is not affiliated with Gemini.