Omisego announced its new plasma sidechain launch, The OMG Network yesterday, and just a week after the huge run up the price didn’t disappoint.
Only a week since Coinbase Pro announced it would be adding support for OMG, it has been on a wild bull run, which has seen the token rise from a low of $0.65 to highs of $2.10.
Although there was a pull back after the inevitable Coinbase pump, the news of the Plasma sidechain has seen it rise another 15%. But this isn’t the end of the good news for the Omisego community. Or should that be OMG Network community after its rebrand?
OMG Network Freeing Up Congestion on Ethereum
OMG Network’s Layer-2 scaling solution is the first step towards helping Ethereum scale for mass adoption, and it will start freeing up space on the Ethereum network immediately.
Cryptocurrency exchange Bitfinex has already announced that it will migrate its ETH-based USDT on the OMG Network, freeing up much of Ethereum’s transaction congestion.