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OMG Network, or OmiseGO as it was previously known, is an Ethereum scaling solution created using Plasma technology. Plasma is a series of smart contracts that run over a root chain, in this case, the Ethereum blockchain. The project, underpinned by the OMG token, has created a layer-2 landscape for developers to create scalable applications, without taking the hit of high gas fees on Ethereum. Moreover, the Ethereum scaling solution is popular for enterprise development, thanks to its versatility, privacy options, and cost-efficiency.

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