The OMG Network (formerly OmiseGO) is a value transfer network for Ethereum and any ERC-20 token. It describes itself as the first production-grade layer-2 Ethereum scaling solution and aims to let people move money and a variety of digital values on the blockchain faster, cheaper, and without compromising on security.
OmiseGo (OMG) is an Ethereum token that powers the OmiseGo smart contract platform, which allows businesses and individuals more financial freedom through financial services and investments.
The platform’s goal is to facilitate moving funds between payment systems (such as ACH, Visa, or PayPal) and decentralized blockchains like Ethereum. This seeks to enable better banking and financial services for everyone, including people in developing countries who don’t have access to traditional banking services.
Yes, but you must send OMG to and from Coinbase within the OMG wallets. Even though OMG is on the Ethereum network, please don’t send any OMG tokens to your ETH wallet. For Coinbase, select the Receive button to view your OMG deposit address. OMG requires 35 confirmations, and each confirmation can take approximately 15 seconds per block to complete.
If you send to an external (non-Coinbase) address or wallet that does not support OMG, Coinbase is not responsible for that transaction. Additionally, do not send non-OMG tokens to your OMG address.
There are no maximum or minimum deposit or withdrawal limits.
Please visit the Supported cryptocurrencies page.
Staking is not supported at this time.
Layer-2 Ethereum scaling solution OMG Network has been acquired by Genesis Block Ventures (GBV). The post Layer-2 Ethereum scaling solution OMG Network gets acquired by a venture firm appeared first on The Block.
Stablecoin issuer Tether is set to move 1 billion more USDT coins, or around 7% of its total supply, from TRON to the Ethereum blockchain. The post Tether is moving 1 billion more USDT coins from TRON to Ethereum blockchain appeared first on The Block.
Stablecoin issuer Tether has moved 3 million USDT coins, pegged 1:1 to the U.S. dollar, to OMG Network from Ethereum. The post Tether moves 3 million USDT to OMG Network appeared first on The Block.
A large chunk of Ethereum network congestion may be a thing of the past as Tether transfers go live on OMG Network’s scaling solution.
After announcing plans to integrate Tether (USDT) into the OMG Network at the end of May, the stablecoin is now live on the network. The post Tether goes live on the OMG Network to combat transaction congestion on Ethereum appeared first on The Block.
Get the latest headlines on your favorite cryptocurrencies.
Discover how specific cryptocurrencies work — and get a bit of each crypto to try out for yourself.
