OMG Network OMG
1. Summary
- Price
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$0.34 -8.5%
- Market Cap
- $47.40M (#834)
- Supply
- 140.25M / 140.25M
- Description
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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.
| Price | |
| 52W High price | $1.32 |
| 52W High date | 14th Mar 2024 (9 months ago) |
| All Time High (ATH) Date | 13th Jan 2018 (6 years ago) |
| ATH Price | $25.62 |
| % From ATH | -99.05% |
| All Time Low (ATL) Date | 5th Aug 2024 (4 months ago) |
| ATL Price | $0.17 |
| % From ATL | 40.74% |
| Supply & Trading Volume | |
| Trading Volume (24h) | $5.15M |
| Total Supply | 140.25M |
| Max Supply | 140.25M |
| Circulating Supply | 140.25M |
OMG
How does OMG Network's (OMG) performance compare to the median performance for assets of a similar market capitalization?
30 Day Return
-18.4%
OMG
-2.1%
Similar Market Cap
60 Day Return
10.3%
OMG
3.4%
Similar Market Cap
1 Year Return
-56.8%
OMG
-1.2%
Similar Market Cap
We're monitoring 120 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: 0 commits vs. an average of 1
- Past 12 weeks: 0 commits vs. an average of 6
- Past year: 0 commits vs. an average of 92
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 | 0 |
|---|---|
| Past 12 weeks | 1 |
| Past year | 568 |
| Past week | 7 |
|---|---|
| Past 12 weeks | 45 |
| Past year | 194 |
| Past week | 17 |
|---|---|
| Past 12 weeks | 40 |
| Past year | 184 |
Top Developers 2024
In total, 336 developers have contributed to OMG Network over the past year. Who are the most active OMG Network developers, by commits, over the past year?
Related Projects
Developers working on OMG Network also worked on these projects.
Tip: Toggle each network by clicking the name above
Historic data is only available from 22nd April 2022
Total Followers
| Reddit Subscribers | 6,418 |
|---|---|
| Active Reddit Users (past 24h) | 13 |
| Discord users | |
| Active Discord Users | |
| Telegram Users | 2,608 |
| Twitter followers | 3,116 |
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docs.omg.network/resources Official
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docs.omg.network/resources Official
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docs.omg.network/resources Official
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docs.omg.network/resources Official
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docs.omg.network/resources Official
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docs.omg.network/resources Official
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docs.omg.network/resources Official
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docs.omg.network/resources Official
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docs.omg.network/resources Official
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docs.omg.network/resources Official
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docs.omg.network/resources Official
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docs.omg.network/resources Official
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omg.network/contact/ Official
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blog.omg.network/tagged/layer-2 Official
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blog.omg.network/tagged/omg-network Official
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fxempire.com/forecasts/article/omg-primed-for-big-bullish-push-towards-20-00-in-2022-84892...
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coindesk.com/price/omgnetwork/
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cointelegraph.com/news/omg-eyes-a-new-all-time-high-after-unveiling-its-boba-network-layer...
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coindesk.com/markets/2020/12/04/omg-rallies-as-genesis-block-ventures-acquires-omg-network...
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/ |
| @omgnetworkhq | |
| /r/OMGnetwork | |
| Forum | https://omg.network/blog |
| Whitepaper | https://omisego.cdn.prismic.io/omisego%2F0ee9c68a-7455-4495-8696-86f9934b972a_whitepaper.pdf |
What is the correct contract address for OMG Network?
| Boba | 0xe1e2ec9a85c607092668789581251115bcbd20de |
|---|---|
| Ethereum | 0xd26114cd6ee289accf82350c8d8487fedb8a0c07 |
Has OMG Network been audited for security?
No security audits found for this project.
Are you the owner of OMG Network? Edit it here
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