OMG Network
Name
OMG Network
Summary
OmiseGO is building global financial infrastructure on the OmiseGO Network
It was founded by Vansa Chatikavanij
It uses a Proof of Authority consensus mechanism.
Rating
Symbol
OMG
Overview
The OMG Network (formerly known as OmiseGo) is a non-custodial Layer 2 scaling option for Ethereum. Although the protocol's transaction processing is centralized, its Plasma-based architecture tries to decentralize network security. It also uses Ethereum as the final layer of arbitration. Low throughput, large and unexpected transaction fees and a bad user experience are all problems in most blockchain ecosystems. The OMG Network was created because the project's leadership believes that these are challenges that must be addressed before businesses and developers will adopt blockchain for real-world applications.
Historical Price Movement (in INR)
Technology
The network is built on MoreViable Plasma, a revolutionary scaling solution that uses a sidechain architecture to bundle numerous off-chain transactions into a batch that can then be verified as a single transaction on the Ethereum root chain.
The mainnet of the OMG Network will eventually switch to a proof-of-stake (POS) consensus architecture, allowing users to stake their tokens to help protect the network while also earning incentives.
Until then, OMG Network child chains are protected by a proof-of-authority (PoA) consensus process, which is effectively a simplified kind of proof-of-stake that is currently controlled by a single block producer (OMG Network itself), who is essentially betting its reputation on keeping honest.
Investors
65.1%
Airdrop
5%
Project and Team
29.9%
Volume ( as of 2nd May 2022)
$86,419,819
Total Supply
$86,419,819
Circulating Supply
140,245,398 OMG
Crowd Sales
It has raised a total of $25M in funding
Funding
30-4-2017: Initial Coin Offering- $25M
Country
Thailand
Name of Organisation
OMG Network
Year Incorporated
2017
Registered Address
TH Thailand Bangkok 1402/1 Pradit Manutham oad, Khwaeng Lat Phrao, Khet Lat Phrao, Krung Thep Maha Nakhon 10240, Thailand 10240
Dispute Resolution and Governing Law
Thailand
Country Risk Assessment
A2
Founding Team
| Name | Designation | Education | Experience |
| Vansa Chatikavanij | Founder and CEO | Columbia University in the City of New York: Master of Arts - MA, Remote Sensing, Geographic Information System, Risk ModelingMiddlebury College: Bachelor of Arts - BA, Remote Sensing, Geographic Information System | 13 Yrs |
