openANX as the Solution to the urgent problems in the cryptocurrency world
Satoshi Nakamoto released the Version 0.1 of Bitcoin software on Sourceforge on 9 Jan 2009. Capitalisation of the Bitcoin is $45B these days. Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale during July–August 2014. The system went live on 30 July 2015. Its cap is $32B to the moment. Some days ago we could see the incredible Bancor ICO. The creators of Bancor claim that their project will be a very serious player in the sphere. Author and Euro designer Bernard Lietaer started to collaborate with this interesting company as Chief Monetary Architect.
As of July 2016, there were over 700 digital currencies in existence. All these “Coins” are different. But they have one common need. To be traded.
Most transactions run through approx. 20 centralized exchanges but even top 8 Huobi (China), BTCC, (China), GDAX (USA), Bitstamp (Luxembourg), OKCoin (China), Kraken (USA), Bitflyer (Japan), Bitfinex (Hong Kong) suffered from hacks with total losses in excess of $1.7B=over 2% of all digital assets have been stolen, the majority from centralized exchanges.
Lack of information and transparency could lead market participants (or players) to security risks and false decisions. OpenANX platform could provide necessary consumers’ protection.
Let’s take a closer look to the different aspects and benefits of the OAX platform.
The openANX DAO
At the core of the openANX platform is the Decentralized Autonomous Organization, which is run by smart contracts. The governance model affects the way the DAO behaves, thus always staying in the best interest of all participants.
The ability to assess risk in a quantifiable way is unique to the openANX platform. Gateway tokens can be traded, creating a new dynamic and further increasing transparency.
Aggregated Order Books
Isolated order books from each asset gateway will be aggregated using the liquidity aggregation system provided by ANX. The end user will have access to a single, seamless order book.
openANX takes the strengths of both centralized and decentralized exchanges to create a new middle ground. Addressing the evolving needs of exchanges will attract many participants.
In the future, customers will be trading their assets through decentralized trustless exchanges. They will only interact with existing centralized exchanges for onboard and offboarding real world funds; but now the consumer will be protected with blockchain locked collateral and a real-world dispute resolution process
Disputes can be escalated beyond the asset gateway. An impartial dispute resolution mechanism exists through a third party..
Open ANX Foundation
The Foundation’s objective is to promote the real-world application of the openANX platform. It is a non-profit organization.
The OAX Token Sale just started It will last till 1pm GMT 22 July 2017, unless advanced earlier at the discretion of the Foundation.
The total supply of OAX is one hundred million (100,000,000). The price — 1 ETH3 = 478.68 OAX
Pioneers of the system can get the best profit and avoid big risks because of the access to the primary sources.
ICO Alert Report
White Paper: https://www.openanx.org/en/assets/whitepaper/openANX_White_Paper_ENU.pdf
Technical White Paper:
Token Sale Summary Sheet:
“If a Purchaser is a citizen, tax or permanent resident of, or otherwise has a
relevant connection with, a jurisdiction where the purchase or ownership of
OAX is prohibited, restricted or requires registrations of any kind
(“Restricted Purchaser”), they shall not participate in the Campaign.”
This article is a not a recommendation to take part in any investment. Always remember that you are taking all the risks on yourself. Never invest more than you can lose without disappointment. Don’t create threats to your well-being by investing.
3 Major Risks When You Transact or Invest in a Crypto-currency
The article includes the materials from the official openANX site: https://www.openanx.org/en/