OMG Network, remembered by its previous name of OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. Here are some details you’re going to need if you want to buy the OMG token.

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What is OMG?

OMG is an Ethereum scaling solution aimed to enable users to transfer ERC20 and ETH tokens for much less and much faster than via a direct transaction on the Ethereum network. OMG Network runs through a novel scaling solution called MoreViable Plasma, which uses a sidechain architecture to group several transactions off-chain into a batch. One can then verify the batch as a single transaction on the Ethereum root chain.

Should I buy OMG today?

OMG has had a rollercoaster ride this past year. Investors should take all decisions after carefully analyzing the market and never invest more than they can afford to lose.

OMG price prediction

According to DigitalCoinPrice, it could reach $24 by the end of 2021 and $25.42 in October 2022. At some point in 2026, the price could have more than tripled from its current position.

Wallet Investor predicted $19 for next year and $41 for October 2026.

Finally, predicts it can reach $36 by this time next year. By mid-2024, it might pass $100. In the fall of 2026, it could be $242.

This post was originally published on Coinjournal.