What exactly is the OMG Foundation(OMG)？

[rick666]

The OMG Foundation (previously known as the OMG Network and OmiseGO) or OMG Token is a value transfer network for Ethereum and other ERC-20 tokens. It bills itself as the first production-grade layer-2 Ethereum scaling solution, with the goal of allowing people to move money and other digital values on the blockchain more quickly, cheaply, and securely. OMG token has been listed on MEXC.

OMG Core Features

OMG Foundation, founded by the well-known payments company Omise, now seeks to use the OMG cryptocurrency to streamline how electronic wallets issue and exchange assets. The OMG Foundation System is a proof-of-stake blockchain designed to clear and settle asset transfers between various e-wallets without requiring those e-wallets to trust each other. The Foundation also includes an integrated trading engine through which e-wallet providers can open orders and be matched with other parties looking to trade various assets. These orders can be programmed to execute within a specific block on the OMG blockchain or left open-ended based on asset pricing. Because the OMG Foundation is interoperable with both the Ethereum blockchain and the Lightning Network, not all payments must take place within the Foundation's decentralized exchange (Bitcoin payments)

[Aryan0058]

The OMG Foundation creates a value transfer layer on top of Ethereum that bundles together Ethereum transactions and validates them through a speed-optimized child chain before sending them back to the Ethereum blockchain for confirmation.