OFNOG is a blockchain project created by a team of IT experts with experience in multiple Fortune 500 companies. They are using Artificial Intelligence (AI) and Deep Learning technology to introduce a certain degree of automation into the cryptocurrency trading process. With the use of these breakthrough technologies, they aim to lower the entry barrier for both newbies as well as experienced traders and enable them to execute profitable trades.
AIM
OFNOG aims for the platform to provide the highest level of accuracy, and as such has based its operation on AI and Deep Learning algorithms, which are the latest, cutting-edge methods in real-time data scraping, trending trend, and future price forecasting. The OFNOG platform forecasting model will "collect and analyze data from multiple market indicators like Exponential Moving Average (EMA), Bollinger Bands (BB), Moving Average Convergence/Divergence (MAC/D), Relative Strength Index (RSI) and Ultimate Oscillators", in an effort to provide a clear overview of the market forces at work, which, in turn, will help users come up with their own trading strategies.
PROBLEM
The year 2017 has created a milestone if sorts in the cryptocurrency industry after the prices soared to record highs, which continued into the new year. The surge in cryptocurrency price has created renewed interest among investors and traders, both individual and institutional to diversify their portfolios by including crypto-assets. The phenomenal rise in the number of traders supplemented by trading platforms has resulted in lot of confusion among the community members, especially due to the high volatility of crypto-assets, varying prices on different platforms and not to mention, the 24/7 markets. New traders are clueless about the mechanics behind cryptocurrency price variations and interpretation of price trends. With limited exposure, as they explore the market, many are encountered with losses due to poor trade decisions and changing market scenario. In such a situation, a solution that can make it easier for traders to take the right decisions is most welcome and the rising numbers also make it imperative that such a solution can cater to not just a small group of people but the entire community.
SOLUTION
The use of Artificial Intelligence and Machine Learning provides a much better alternative to mindless trading bots. As Artificial Intelligence takes a step closer to gaining maturity, platforms like OFNOG are working on combining AI and Deep Learning to cryptocurrency trading. Such a platform will be capable of monitoring the markets, collecting critical data, conducting in-depth analysis of the historic market trends and comparing them with fresh data sets to predict potential future price movements. Signals derived from such analytical processes can be readily used by traders to place orders on relevant exchanges and reap profits. It also paves the way for further automation with bots.
ARTIFICIAL INTELLIGENCE
OFNOG uses AI to analyze the cryptocurrency market data and trading trends and compares it with the existing scenario to create trading signals which can be used by traders on the platform to place their trades. By way of using OFNOG, even those who are new to cryptocurrencies gain access to the collective “wisdom” from months, if not years of trading trends. It will automatically increase the trader’s success rate and helps him observe and learn the nuances of trading with time.
Thank you for reading.
To know more about this project you can visit:
- Website: https://www.ofnog.io/
- Whitepaper: https://www.ofnog.io/pdf/ofnog-whitepaper.pdf
- Twitter: https://twitter.com/OFNOG1
- Facebook: https://www.facebook.com/OFNOG-1977265739191600/
- Instagram: https://www.instagram.com/ofnog_ico/
- ANN Thread: https://bitcointalk.org/index.php?topic=3319738.0
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1956531
Eth Address: 0xAb5501225C2E6c0500d6bc5Aaf419a9D34b40EB0