Although Ethereum is the second-largest asset among cryptocurrencies, its network itself is often blamed for its inconvenience. While traders around the world wait for the Ethereum 2.0 network update, which is intended to solve major infrastructure problems, Ethereum's competitors are launching their own protocols to accelerate Ethereum. OMG Network is one such project.
OMG Network is an Ethereum-based payment gateway that makes moving almost any asset between countries, businesses, and people as easy as sending an e-mail. The idea behind the product is to combine currency exchange and payment services in real-time. This will create solutions that will allow users to transfer money to each other without having to think about what currency the counterparty is using. And this exchange will happen without banks or other intermediaries, which will make transactions cheaper and faster.
The main proponent of the project is Vansa Chatikavanij. She is an American public infrastructure specialist who was part of a World Bank team that helped Southeast Asian countries develop their infrastructure from 2011 to 2016. During that work, Chatikavanij was shocked at how difficult it was to get the bank's money into the hands of the workers who were directly involved in the construction. So she started looking for an alternative and found it in cryptocurrencies.
A few years later, Chatikavanij began assembling a team to develop a simple and affordable blockchain-based payment solution for East Asia. Soon Omise CEO Jun Hasegawa joined the team, and the project was named OmiseGO. After some more time, Chatikavanij and Hasegawa became interested in the Ethereum blockchain and decided to ask Vitaly Buterin for help. Eventually, Buterin, along with another Ethereum developer named Joseph Poon, became one of the architects of OmiseGO.
OMG Network has its own native token, the OMG cryptocurrency. It first started being sold in July 2017 as part of the OmiseGo ICO, at the time its value did not exceed one dollar. It entered the listings of exchanges with a price of a few tens of cents, and literally within a couple of months its value increased several times, and by the end of the year, it amounted to several tens of dollars. Later, the OMG's rate gradually fell to one dollar in the background of the market collapse and the lack of good news about the development of a working product. But many crypto-investors are watching the omg price chart closely because the project looks promising.
Today, the market situation looks more optimistic than a few years ago. Altcoins are growing up after bitcoin, which broke through the mark of several tens of thousands of dollars, and ether, which crossed the threshold of several thousand dollars. Omisego coin price forecast has improved in light of this.
Ways to use OMG:
Currently, OmiseGO cryptocurrency is quite a popular asset supported by many cryptocurrency exchanges. The coin is traded on more than 130 exchanges - that's a lot and speaks volumes about its strong position in the market.
The OMG token can also participate in trading, so you can use all the tools that allow you to earn additional income. You can use a tradingview bot or crypto trading bots to automate trading, which will, for example, analyze the OMG coin chart for you and open and close trades. Don't forget the copy trading crypto strategy, which allows you to copy trades of successful traders and thus get the same results as they do.
The process of buying a token depends on which exchange you are considering, but the steps are essentially the same.
Select the exchange you are interested in, then go to "Buy Cryptocurrency", enter "OMG Coin" into the search box, and if you are happy with the OMG coin crypto price, enter the desired amount, confirm the transaction and complete the process of getting OMG.
In conclusion, OMG Network is a cryptocurrency with a lot of potentials. The project is managed by a popular payment solutions provider in Asia, and the concept of the network was developed with the participation of one of the creators of Ethereum.