OceanONE Exchange 3.0

Published in

Mixin Network

4 min readAug 27, 2018

How does OceanONE define Exchange 3.0? How to do 1 second transfer, 0 transaction fee trading experience?

If mines and centralized exchanges used to be the protagonists of blockchain era, then decentralized exchanges are likely to bring value interconnections to various fields, and decentralized transactions are highly transparent and extremely strong.

The anti-risk ability, and most of today’s decentralized exchanges are only in the initial stage of development, the product experience can not meet the core needs of users for the transaction: security + simple + fast .

OceanONE combines the advantages of a centralized and decentralized exchange and will be the pioneer of the Exchange 3.0 era.

Exchange Evolution: How will OceanONE define Exchange 3.0?

Looking back at the 1.0 stage of the exchange, the centralized exchange is widely welcomed by users because of its efficient transaction, convenient operation and high liquidity, but there are also hidden security risks behind it. In the face of hacker attacks, many exchanges have caused significant losses. For example, the famous MtGox incident not only caused users to suffer huge financial losses, but also indirectly caused the price of the currency to fall. The overall market loss far exceeded the loss of book capital. Even today, whenever the bitcoin of the account is sold off, it causes the market a certain range of turmoil.

At the current stage of the Exchange 2.0, decentralized exchanges have gradually been reached by more people, and its emergence is mainly to solve the risk of the current centralized exchange. However, to be completely decentralized, efficiency is relatively low compared to current centralized exchanges.

First of all, in terms of security, more than 99% of transactions are currently realized through centralized exchanges. Therefore, the centralized exchanges hold so many digital currencies, which means that they will become the scams of hackers. There is a high risk of funds.

Secondly, in terms of technology, the scalability of decentralized exchanges has not been resolved, so the transaction speed is relatively slow, and the Ethereum network often encounters congestion.

What are the advantages of OceanONE compared to centralized exchanges and decentralized exchanges?

The comparison between OceanONE and the Centralized Exchange is as follows:

1) The user recharges from the imToken or other digital asset wallet to the OceanONE account for trading. If there is a certain risk, the user loses most of the assets of the pending order and protects the security of the assets in the user’s wallet.

2) “0” transfer cost , the user transfers to OceanONE through the Mixin Messenger wallet for pending order transaction, the transfer process is 0 fee.

3) “1” seconds to the account experience, the user transfers the money to the OceanONE through the Mixin Messenger wallet for the pending order transaction, the transfer process is completed in 1 second.

The comparison between OceanONE and the decentralized exchange is:

1) High transaction depth, able to handle high concurrent orders, and real-time transactions.

2) High usability : The user’s mobile phone number is the account number, and the registration process is very simple. The user only needs the mobile phone number, verification code and six-digit PIN code to use.

3) Full currency support : Support BTC / ETH / EOS / XRP / ETC / SC / BCH / LTC / DASH / DOGE / ZEC A total of 11 public chains, more than 40,000 + currency.

How can OceanONE balance efficiency and fairness, be safe and convenient?

OceanONE is a decentralized exchange based on the Mixin Network, providing users with a transparent and secure trading experience.

The Mixin Network has the following features:

1. Verifiable security : The Mixin Network code is open source, decentralized distributed ledger, multi-signature address and fragment key sharing, and TEE hardware executable environment can verify network security.

2. Completely free : ordinary users use Mixin Network for free, the entire network transfer 0 handling fee, compared to BTC / ETH, etc. have an absolute advantage.

3, unlimited network throughput can achieve large-scale commercial applications : Mixin’s accounting method uses DAG mode, which can effectively solve the delay problem of blockchain packaging. The network transfer confirmation speed reaches the second level, supporting the billion-level TPS to meet the business-level needs.

How does OceanONE achieve “minimalist” and “safety” on the Mixin Network?

Mixin Network is a public chain based on ABFT-DAG network driven by TEE. It solves the problem of slow and expensive blockchain transfer and easy to use. It allows existing distributed books such as BTC/ETH to reach ultra-high performance and achieve zero. Fees, unlimited concurrency, enhanced privacy and unlimited scalability.

The current application ecosystem of Mixin Network includes: Mixin Messenger, PRESSONE, CANDYONE, IVERYONE, FOXONE, ONO, ICST, BNET, DGAMES, THEMIS, TEE, COINVIEW, OCEANONE.

As the first ecological application of the Mixin Network, OceanONE allows users to experience efficient transactions in decentralized exchanges, realizing low-cost handling of real-time pending orders, high concurrency, and satisfying users’ requirements for transaction depth and liquidity; Mixin Network All currencies (40000+ ). LTC, BTC, BCH, XRP, ETC, ETH, EOS, SC, Dash, Doge, ZEC.

At the core of the OceanONE exchange, the hybrid engine is open source, and developers can re-package the front end with the OceanONE-based matching engine to build a decentralized exchange.

About the co-construction of the Mixin Network and the OceanONE ecosystem

In the entire ecosystem of the Mixin Network, users can trade directly through the OceanONE robot on the Mixin Messenger.

At the same time, we plan to get more developers and project in the development of OceanONE and Mixin Network.

In addition, the handling fee for Mixin’s withdrawal will be 100% returned to the user and development team, and the normal user return fee will need to be manually added to the small robot.

The purpose of OceanONE is to make it easier, more efficient for users to trade digital assets in their wallets.