OMG Network Logo

OMG Network OMG

OMG Network header image

1. Summary

Fundamental Rank
Developer Rank
Social Rank
Coinrank
Price
$9.05 -3.5%
Market Cap
$1.27B (#99)
Supply
140.25M / 140.25M
Price
52W High price $18.79
52W High date 5th Nov 2021 (1 month ago)
All Time High (ATH) Date 13th Jan 2018 (3 years ago)
ATH Price $26.00
% From ATH -65%
All Time Low (ATL) Date 13th Mar 2020 (1 year ago)
% From ATL 2479%
Supply & Trading Volume
Volume (24h) 410.37M
Total Supply 140.25M
Max Supply 140.25M
Circulating Supply 140.25M
Description

Before we discuss the OMG Network, it is important to note that previously it was known as OmineGo. It is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. It is created to allow users to transfer ETH as well as any ERC-20 tokens quicker and cheaper than when transacting directly on the Ethereum Network.

Before we discuss the OMG Network, it is important to note that previously it was known as OmineGo. It is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. It is created to allow users to transfer ETH as well as any ERC-20 tokens quicker and cheaper than when transacting directly on the Ethereum Network.

In 2020, the OMG Network released their public testnet with audited contracts which were designed to interact with Ethereum’s public testing platform.

The OMG Token Explained

All of the users on the OMG Network have to buy OMG cryptocurrency in order to pay for work completed by the blockchain. Every time you use an OMG Network contract, you’ll have to pay in OMG. This OMG is then distributed to the nodes on the network which enforce contracts according to the specified rules.

The OMG Blockchain is actually maintained by these nodes. They are known as validators that stake their OMG cryptocurrency, and this is done by locking it in a smart contract for a specific period of time.

Furthermore, any user that creates contracts can actually lock their OMG in the contracts, and if they attempt to break any of the rules or fail to deliver, the OMG is taken away and sent to an address where it cannot be spent as a result of those actions.

Features of OMG Network

The OMG Network is essentially a proof-of-stake (PoS) blockchain that is intended to clear and settle the movement of assets between different e-wallets without them having to trust each other. It also has a built-in trading engine where the e-wallet providers can publish orders and be matched with other parties that seek to trade various assets. These orders can then be programmed and completed within a block on the Omise blockchain or can be left open-ended.

Keep In mind that not every single payment out there has to take place within the network’s decentralized exchange. It is interoperable with Ethereum and the Lightning Network as well.

Furthermore, all of the nodes that validate the transactions on the blockchain have to be set up as nodes on the Ethereum blockchain. The e-wallet providers can also create new assets that are backed by Ether, or can create contracts that lock Ether on Ethereum, pending conditions on the OMG network. When and if the contracts execute, the funds can be unlocked and returned to the original owners.

Founders of OMG Network (OMG)

Discussing the founders of the OMG Network, it was founded by Vansa Chatikavanij and is a subsidiary of SYNQA, which is a fintech firm based in Thailand that was formerly known as Omise Holdings.

Vansa Chatikavanij previously had several consulting roles at financial institutions such as the World Bank Group and the Finance Corporation (IFC) before founding the OMG Network which was formerly known as OmiseGo in 2017. Before she filled the role of the CEO, as she does today, she was a managing director at the company until 2019.

You also have Stephen McNamara who is the COO at the company and was formerly a blockchain R&D head of strategy at Huawei Technologies. Last but not least you have Kasima Tharnpipitchai who is an engineer and consultant and fills the role of the CTO.

2. Price

$OMG / USD

2.1. Market Performance

How does OMG Network's (OMG) performance compare to assets of a similar market capitalization?

30 Day Return

-36.9%

OMG

10.9%

Similar Market Cap

60 Day Return

-0.5%

OMG

103.8%

Similar Market Cap

1 Year Return

114.4%

OMG

1,292.9%

Similar Market Cap

3. Developer Activity

We're monitoring 122 OMG Network Github repos for commits, code additions and deletions. This data is factored into the Developer Rank. Because of delays in Github's stat processing, recent activity maybe underrepresented.

Weekly Commits (All OMG Network Repos)

Commits vs. The Market

  • Past 4 weeks: 272 commits vs. an average of 31
  • Past 12 weeks: 1,263 commits vs. an average of 124
  • Past year: 6,477 commits vs. an average of 860

Most Active Repos

Past week 42
Past 12 weeks 184
Past year 1471
Past week 83
Past 12 weeks 470
Past year 1182
Past week 167
Past 12 weeks 283
Past year 1098
Past week 43
Past 12 weeks 114
Past year 637
Past week 43
Past 12 weeks 119
Past year 576
4. Social Activity
Reddit Subscribers 4,040
Active Reddit Users (past 24h) 64
Telegram Users 2,645
Twitter followers 5,640
5. News
6. More Information

Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:

Website https://omg.network/
Explorer https://blockexplorer.mainnet.v1.omg.network/
Twitter @omgnetworkhq
Forum https://omg.network/blog
Whitepaper https://omisego.cdn.prismic.io/omisego%2F0ee9c68a-7455-4495-8696-86f9934b972a_whitepaper.pdf
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