Posted 11/14/2023, 4:15:00 PM
OMG Token Jumps 16% After Buterin Praises Plasma Tech Behind OMG Network
- OMG Token climbed 16% to 6-month high after Vitalik Buterin blog post praising Plasma, the technology behind OMG Network
- Buterin said Plasma can reduce fees and improve security compared to "validium" chains
- OMG Network was early Plasma project, launched in 2017 to scale Ethereum with child chains
- Plasma has since been largely replaced by rollups like Arbitrum and Optimism
- OMG Token hit record high of $25 in 2018 amid Plasma hype but has since lost 97% value