$OM refers to the native cryptocurrency of Network (formerly known as a layer-2 scaling solution built on Ethereum. OMG Network is designed to improve the scalability, speed, and cost-efficiency of decentralized financial applications and Ethereum transactions.
Key Features of OMG Network $OM
. Layer-2 Scaling: OMG Network is a Layer-2 solution for Ethereum, which means it works on top of the Ethereum blockchain to help scale its capacity. It achieves this by using a technology called Plasma, which allows for faster and cheaper transactions without compromising security.
. Decentralized Exchange OMG Network aims to facilitate decentralized exchanges and peer-to-peer value transfers by providing a platform where users can trade digital assets quickly and at a lower cost.
. Cross-Chain Interoperability: The $OM Network aims to create a more interconnected blockchain ecosystem by enabling cross-chain transactions.