OMG Token Surges 16% as Vitalik Buterin Hails the ‘Return of Plasma’

OMG, the native token of the OMG Network, climbed to a six-month high after Ethereum creator Vitalik Buterin published a blog post on how Plasma, the technology behind the OMG Network, has the potential to reduce transaction fees and improve security.

The token rallied 16% to $0.77.

“Plasma lets us completely sidestep the data availability question, greatly reducing transaction fees,” Vitalik wrote in a blog post titled ‘Exit games for EVM validiums: the return of Plasma.’ “Plasma can be a significant security upgrade for chains that would otherwise be validiums.”

OMG Network, formerly known as OmiseGO, was among the first layer-2 scaling products when

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