Introduction
Since the beginning of commerce, it has always been necessary to have places to carry out transactions and commercial exchanges. This is how the first commercial centers emerged, formed by groups of people who exchanged goods and services in the form of barter.
Subsequently the idea of trade and exchange of assets was taking shape over the years and this is how in recent times more specialized markets emerged dedicated to the purchase, sale and exchange of financial assets. One of the most popular has been the stock exchange where millions of shares are traded daily, which are sold and exchanged in one place.
This type of commerce, though passionate for many people, was not within the reach of ordinary people who with the advancement of technology and globalization wanted an easy and simple way to make small inventions of hundreds of dollars from the comfort of their home. Thanks to this need arose a foreign exchange market known as forex which served as the pattern for the creation of exchanges used today in the exchange of currencies.
This concept until a few years ago was something new and hundreds of people rushed to place their capitals in the various exchanges, many of which were unsafe due to vulnerability in their security or were simply scams, causing investors to lose billions of dollars in crypto currencies. With the experience and lessons learned have established different exchanges that offer security, but are deficient in terms of transaction speed, which is why it has created ONAM which comes to offer users a safe, fast and reliable exchange site.
ONAM Project
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Since the creation of bitcoin in 2009, there has been a need for a site to exchange crypto coins quickly, safely and reliably. In the beginning, large Exchanges such as Mt-Gox dominated the market and created confidence in investors, as 7 out of 10 transactions were carried out by them. The company was constituted as the number 1 exchange worldwide, but in 2014 it suffered its first hack which generated the loss of 750,000 Bitcoins of its customers and 100,000 of its own bitcoin which was a catastrophic fact for the bitcoin market since the price fell 36% of its value for the date.
In the same period different exchanges opened their doors and attracted large numbers of customers with promises of great profits but only months later closed their doors taking the capital of their customers and leaving them with nothing. The confidence in exchanges was in doubt at the time and it was necessary to implement more extreme security measures.
As a result of all the improvements of past experiences Onam's project has created a state-of-the-art coin exchange house, discarding the old model of rigid structure exchanges unable to handle mass adoption by users.
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ONAM will be subject to the regulations imposed by the SEC and the necessary regulatory commissions to ensure transparent management, which ensures that the launch of the ico complies with all the necessary legal parameters.
Technical data ONAM
ONAM uses an automatic learning system, designed to prevent and combat market manipulation this ensures a healthy development of the cryptographic economy by preventing harmful practices that harm the market. To ensure the security of our funds, onam's team has implemented a system of commercial surveillance, intrusion detection and advanced threat prevention, combined with a modular user interface that ensures the user a pleasant experience when making their operation.
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#ONAM initial Coins and Tokens
Initially Onam will start to operate with 25 crypto currencies and tokens of great reputation in the market, but later this number will increase as new currencies are listed or are required by a community of users committed to the trading operations of the exchange. Below you can see in the image the initial tokens and cryptomendas with which the network will operate.
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Use case
Peter is a trader who is tired of losing his capital in exchanges that allow unscrupulous users to leverage to create market manipulation, which exaggeratedly raises the prices of the currencies and then decreases them by taking all the profits of the users.
He has transferred his capital to [ONAM] (https://onam.io/), since a very detailed study on his part revealed that this exchange has strong security measures, commercial surveillance, intrusion detection, advanced prevention and an automatic threat learning system, which prevents unscrupulous users from manipulating the market, guaranteeing reliability and transparency in financial operations with crypto currencies. This has led to peter making big profits, all thanks to Onam.
My video presentation
Conclusion
ONAM emerges as a solution to all the security and speed problems presented by existing exchanges as it allows a maximum amount of 10 million transactions per second, unlike its competitors as binance which only processes 1.5 Mtps. Likewise, the commissions are very competitive as they are the lowest in the market with a percentage of 0.05%.
ONAM offers a series of security features, surveillance and supervision that make it position itself as an exchange of vanguard destined to improve all the weak points that the exchanges in the market present nowadays.
Road map
More Information & Resources:
- ONAM Website
- ONAM WhitePaper
- ONAM Telegram
- ONAM Reddit
- ONAM Medium
- ONAM LinkedIn
- ONAM Instagram
- ONAM Twitter
- ONAM Instagram
- ONAM Bitcointalk
onamtwitter
My Twitter Link:
https://twitter.com/j3cesar/status/1062443922490884096
- j3cesar
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Link to the contest: https://steemit.com/crypto/@originalworks/1300-steem-sponsored-writing-contest-onam
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