Giving holders the chance to exchange their liquid asset for cash or other liquid asset is what has made the digital currency ecosystem a Haven. Cryptocurrency exchange platform are in different forms or kinds but have been shorten or sub classified into two. The centralized system and the decentralized system. A centralized exchange system help holders take care of their possessions including keys and they also monitor users assests for them. In this organization, assets are easily lost as an employee who has access to those details can go rogue and open the floor for hacker which has happened before. People have seen the centralized exchange as risk attached.
Unlike the decentralized medium, considered safe and secure. But, if you're a standard cyber criminal, you can as well find your way around as the decentralized medium makes use of a public record where all transactions carried out can be seen by anybody. Should in case someone decides to trace this transactions back to the source, it could lead to the revelation of such persons private keys thereby leading to the total loss of the person's assets. Not really decentralized is I was asked.
All things being equal(ceteris paribûs), early adopters of Cryptocurrency are the future world controllers. How can this then be achieved when rightful owners keep losing them?. Funny enough, some Cryptocurrency exchange platform gets shut down all in the name of not being compliant. Sounds ridiculous but it's the bitter truth. The SEC are determined and are out to ensure that everyone plays by the books. We've seen some platform advertise about their services and all of a sudden, they're no where to be found, some have even commenced business and few months later they started receiving court orders. This all is as a result of noncompliance with rules and regulations.
Most thing crypto exchange platform invest in is security. Yeah, it's Paramount but, is it all?. What about being compliant?, what about being communicative?, what about being considerate?, what about technological advancements?, what about trust establishment?, what about employees orientation?. All this are factors that determines the future of an exchange platform, should in case any one misses out of these things, the probability of long life span is low.
As mass adoption nears, forms of changes has entered the exchange ecosystem and many, if not all are prepared for what's to come which is global adoption of Cryptocurrency. The equation is, are they REALLY prepared?. Well, I wouldn't think so
And today, I present the latest Cryptocurrency exchange platform out there—
Source
INTRODUCTION
ONAM is the newest Cryptocurrency exchange platform in the ecosystem. It's not news to anyone anymore about the downs of most exchange platform which is insecurity, privacy, poor market liquidity, market manipulation, poor communication orientation, high exchange fees, Scalability, regulatory compliance. Most organizations have tried to cub one or two of them but many have found it hard to keep their toes high with most of them.
SECURITY ISSUES:
This is the Paramount issue of most exchange platform, there have been serious of reported loss of portfolio. All loss has been estimated at numbers beyond comprehension and they don't seem to end even after various form of technologies used to pit and end to this. All what everyone has been focusing on is pitting out the fire after ignition, what about before ignition?, does no one cares about that?, luckily ONAM does, apart from the common high grade measures such as, standard DDoS mitigation, anti-phising and 2FA solution, they also have their own Advanced treat prevention ,intrusion detection and,trade surveillance machine to help identify treats before major occurrence. In this situation, attacks or hacks can be stopped before escalation.
SCALABILITY:
Most exchange platform has transaction performance within the ranges of 2-3 million transactions per second. This is relatively low as mass adoption is by the corner, this will not only slow down the advancement of the organization, it probes it to high latencies duration. With ONAM ,comes a machine capable of handling 10 million Transactions per second and latencies as low as 40 nanoseconds. To ensure expansion, they've put in place various measures and keep strict adherence to regulations to avoid being dumped out of the system.
MARKET MANIPULATION:
With ONAMs "real l-time market surveillance ,supervision and compliance system" helps monitor the market for any form of irregular trades that could lead to market manipulation, as crypto price are determined by market forces( demand&supply ), and to strengthen their strict adherence to rules principle, they vow to give a report of any one found influencing the market for personal gain to the authorities.
CUSTOMER SUPPORT:
Customers are the back bone of any organization. ONAM is putting their customers first as they offer a 24/7/365 LIVE chat support to their customers in multiple languages, and those with prominent issues are attended to within 15 minutes. They also ready to introduce a phone support program to ensure every report gets answered to.
MARKET LIQUIDITY:
"ONAM will attract large market makers, miners, and volume traders to participate in their network. High slippage and market manipulation issues will be fought off by enlisting book orders from multiple exchanges."
@Originalworks
REGULATORY COMPLIANCE:
Cryptocurrency are now being treated differently as compared to how they used to be treated some years back. The SEC is scrutinizing every new and old organization to ensure due compliance and, anyone found off record will be sanctioned through subpoenas. To adhere to this, ONAM has employed a prominent law form in the states to help out with all legal issues the platform might face and get it resolved.
FEATURES OF ONAM :
Advanced order types:
ONAM provides users with some supporting services that'll assist them in their exchange activities and, this will also guide users on the success terrain.
Margin Trading:
Users can borrow from other users and pay back with low interest rates and instigate the borrowed fund for a higher buying power.
Margin Lending:
Those users to Lent out their funds to other gets paid back with a profit. They also control their finds in the sense that, the platform doesn't dictate the means of refund, the lender does.
Composite index fund:
ONAM has an index that shows users ways they haven't experienced before to diversify their possessions.
Trade Assistant with Trade Alerts and Signals :
"Powered by machine learning, Limits risk by assessing current position, account balance, and user’s personal tolerance"
@originalworks
Automatic Trading:
Just like steemit auto-upvote bots, ONAM has put in place some bots for users to design to their own specifications to carryout some processes in their absence.
Market Scanning:
This will assist users in searching for assets in their area of interest that has been put down. Market scanning is vital as it also saves time and resources.
Trading Expert:
ONAM has put in place well learned experts to guide users in their daily activities and, to keep them up to date with necessary materials to make them conversant with the exchange platform. They aim to build a platform of well educated traders.
Advanced charting:
ONAM is equipped with all search engines that'll help provide info to users when needed without the need to involve a third party.
Also a 24/7 multi language LIVE chat support and affiliate programs among many others.
ONAM is dedicated towards good treatment of their customers by giving them access to the best service ever, to promote service loyalty and to ensure that each customer doesn't leave them for another platform and, in fact, others will notice their service and leave other platforms for them. Their 24/7/365 customer service speaks it all.
Many exchangers out there don't want to be caught up in a legal war between SEC and the exchange platform, they look for organization's compliance with regulations before using their platform and ONAM offers what anyone could be looking for when it comes to such areas.
The blockchain is known for its contingencies and as such, comes with slow and therefore leads to market liquidity. ONAM has a machine capable of handling more than 10million transactions per second to deal with issues of contingencies experienced by organizations that offer about 2-3 million transactions per second and , latencies of about 40 nanoseconds which almost equates to the speed of sound. This indicates that necessary measures have been put in place to deal with speed issue and this has placed them on the visionary as the organization to offer the fastest transaction speed in the nearest future when mass adoption comes knocking.
USE CASE 1: AUTO TRADING & PUSH NOTIFICATION
Bruce is a hell of a busy man, his house has about 50 IoT devices from the floor scrubber to the window washer. He doesn't have enough time to even look after himself, all he cares about is his business. He has some Cryptocurrency assets and it required management. He put them in care of a centralized organization but it ends up being mismanaged. He withdrew from using the platform and decide to use a seamless transaction and this takes a lot of time to initiate and Bruce didn't have much of those on him. He wish he could automate transaction and management of his portfolio when he came across ONAM.
ONAM's auto trading feature caught his eye at an instance and he didn't think twice before using the platform. Bruce doesn't need to visit his possessions on a daily basis anymore as there's something that does the work for him and with the "push notification ", he gets notifies of any occurrence that needs his attention and that's when he intervenes alone.
USE CASE 2: MULTI LANGUAGE UI
Kun speaks Mandarin and his English is a little bit rusty. On the exchange ecosystem, some terminologies are used and this sometimes posses great difficulty for him to comprehend. Cryptocurrency is about to be banned in his society die to some reasons but he wants to continue being a crypto trader, so he moved to New Jersey. There he started using some exchange platform..
With his exposure, he decided to give it a try but he had some set backs with the language[English] and as it's hard to trust anyone this days to help him mange his portfolio, it became an issue for him to continue what he came down to Jersey to do. His non reliant attitude made him meet ONAM.
With ONAM, kun needs not to worry about language issues as the platform offers multiple languages. Kun can now continue what he loves all thanks to ONAM and their great features. Should he have any issue, he can have a LIVE chat with their customer support channel to lay complaints.
CONCLUSION:
With vast use of machine learning as the core processor of ONAM technologies, total ICO token set at 195 million, anti-phishing codes has placed them on a platter of principality to overcome any challenges that is to CME in the nearest future.
No to forget their machine capable of handling 10million transactions per second and latencies of about 40nanoseconds,advanced and custom APIs, regulatory compliance which put them at the nudge edge of Cryptocurrency exchange platform breakthrough.
I hope with ONAM, issues such as security, market Manipulation, liquidity can become a thing of the past.
THAT'S ALL FOLKS
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ONAM2018