The OMG Network is a decentralized, public network that allows high throughput, low-cost peer-to-peer transactions. With the OMG Network, anyone can transact value across geographies, asset classes, and applications. The OMG Network leverages Layer-2 Plasma architecture to provide high throughput and strong safety guarantees for third parties who wish to build scalable, decentralized payment apps on the Ethereum Network.
The network is powered by the OMG utility token, which can be used as one of the payment methods for fees on the OMG Network, and will eventually be stakable — helping to secure the network in return for rewards.
The OMG Network currently consists of a team of more than 50 employees scattered across the world. It was founded by Thai-born Vansa Chatikavanij and operates as a subsidiary of SYNQA — a Thailand-based fintech firm that was formerly known as Omise Holdings.