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Formerly known as OmiseGo, OMG Network is a Layer-2 scaling solution for Ethereum that provides one of the fastest and cheapest methods to transfer ERC20 tokens and ETH.
For those wondering, Layer-2 simply means that the project is built on a pre-existing blockchain (Ethereum). OMG Network helps create space on the Ethereum network (Layer-1), resulting in lower transaction fees and faster confirmation times.
OMG promises higher transaction throughput at lower cost with the security of the Ethereum network.
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