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Exchange OMG Network

If you're looking to swap OMG Network, SwapSpace is your one-stop-shop. We have some light reading for you - in case you'd want a refresher on what is OMG Network or some fresh information about omg’s price movements. And, of course, we provide you with the multiple OMG Network exchange options so that you can choose the offer with the best rates and lowest OMG Network fees, as well as other parameters that suit you.

OMG Network Price Stats

To help you make a decision about exchanging your OMG Network, we gathered some cold hard numbers: OMG Network price chart and other stats, such as OMG Network market cap.
24H HIGH

$2.556

OMG MARKET CAP

$351,174,477.206

CIRCULATING SUPPLY

140,245,398.245 OMG

24H LOW

$2.393

OMG PRICE

$2.504

24H VOLUME

$5,184,560.387

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OMG Network Price Chart

Here you can see the current price of OMG Network, as well as OMG Network price history.

What is OMG Network?

OMG is a utility token on the OMG Network — a Layer 2 Plasma-based Ethereum scaling solution. The project has been known as OmiseGo from the time it was founded in 2017 and until it was rebranded in 2020. OMG Network has turned into OMG Foundation since then, and there are more projects in the works. 

OMG Network uses Layer 2 childchains in the implementation of Plasma called More Viable Plasma. This architecture is built around the Proof-of-Authority (PoA) consensus mechanism. It uses just one known and verified node called Operator as a block producer, although there is also a so-called Watcher network that monitors the childchain and reports abnormalities. 

This step towards centralization is a tradeoff: the childchain architecture doesn’t make Layer 2 chains either custodial or completely independent — which in this case is a good thing. The funds will not be lost or “stuck” on the childchain if it goes out of service. The other implementations of Plasma (i.e. sidechains), while more flexible, have more inherent risks.

OMG Network can be used to scale transactions (it boasts the ability to process up to 5,000 transactions per second), although it cannot handle smart contracts since Plasma isn’t designed for this. Enya, which is a principal developer of OMG Foundation, is working on Boba Network for this purpose (it will use Optimistic Rollups instead of Plasma). 

Note that soon to be issued BOBA token will be automatically distributed to OMG token holders. OMG coin is also used to pay transaction fees and is needed for staking.

A Simple Way To Exchange OMG Network Here At SwapSpace

Step 1

Choose a pair

Choose the cryptocurrencies you would like to exchange among more than 800 coins and tokens. Pick them from drop-down menus. Type the number of coins you want to swap.

Step 2

Select the best rate

You choose the rate – we do the magic! Pick up the exchange service by the rate which meets your requirements. Make sure you are okay with the selected service network fee and privacy policy: some of them require you to pass the AML/KYC procedure.

Step 3

Transfer funds

Send the exact amount to the address provided and receive the crypto in your wallet within minutes. Don’t have a wallet yet? Our support will recommend a good one!

Step 4

Receive your coins

You’ll get your coins in a few minutes! The exact time is a subject of various parameters such as blockchain network workload, transaction volume, our partners’ processing speed, etc. Concerned about your transaction? Check the swap tracker or feel free to contact the support: support@swapspace.co.

Frequently Asked Questions

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