OMG Network
What is OMG Network?
The main idea of the OMG Network cryptocurrency is to combine payment services and currency conversion in real time. This opens up very wide opportunities for users, as they can transfer money without worrying about what currency the counterparty uses. Such transactions should be very fast and cheap, as there are no intermediaries.
The best way to understand how this systеm works is to give an example. Let’s say you travel to England and want to have breakfast at a local cafe, but you don’t have the local currency. To solve this problem, you usually need to use the services of a currency exchanger or convert currency through a bank. In both cases, you will need to pay a conversion fee. OMG Network is going to solve this problem. Using a special application, you can exchange your currency for local currency in real time, transfer money to a cafe account, while paying a minimum commission. The very exchange of one currency for another is done on a decentralized exchange and very quickly.
In the same way, you can make purchases on the Internet or simply transfer money to friends in other countries. This conversion method can greatly increase the volume of international trade.
OMG Network’s lead visionary is Vansa Chatikawanij, an American who has extensive experience in public infrastructure. Also, she was a member of the World Bank Group, which contributed to the development of infrastructure in the states of Southeast Asia in 2011-2016. While working there, she realized all the difficulties that arise with currency conversion and began to look for alternative options. The first option was bitcoin, but she failed to move forward with this idea and began to look for other options. Circumstances turned out so that she met the CEO of Omise, Jun Hasegawa. They found a common language and founded a joint project called OmiseGO.
OmiseGO launched an ICO in 2017, which raised $25 million to develop the project. The finished product was released already in 2020, and in the same year they rebranded, changing the name to OMG Network.
OMG Network Mining
OMG uses a Proof of Stake (POS) systеm. This means that it cannot be mined. But, it can be stacked on your crypto wallet.
How do I purchase OMG Network?
You can buy MKR on one of the crypto exchanges where this cryptocurrency is traded or through a crypto exchange such as Leoexchanger!
OMG Network price dynamics (USD)
As of August 2022, 1 OMG costs approximately $1.92. The total market capitalization is $268,696,182.
The price movement chart is shown below:
How to store OMG Network?
You can store this cryptocurrency on almost all electronic wallets that work with ERC-20.
More information:
