OAX – Real World Application of Decentralized Exchanges
Bitcoin contributes a new paradigm in finance and world policy. Decentralization, anonymity, and return to the hands of ordinary people in control of money – all this together with crypto. Now what state represents how much money ordinary people have.
The decentralized economy takes this opportunity from the state, and to finance everyone’s personal problems. As cryptocurrency does not require an intermediary for transfers from one person to another, it excludes the possibility of cheating and control. However, to change one currency with another currency or for empty money, we can not do without exchange.
OpenANX is a new model of decentralized exchanges. Platforms that at the same time combine transparency, cryptographic service characteristics, and liquidity embedded in a centralized platform. The main task of this project is to create a multifunctional trading platform that not only works with digital but also with fiat currency. Ideally, a decentralized OpenANX exchange is no different from a regular role and just an information role, and all means depend on the user’s wallet. Of course, the exchange that is now created, is far from perfect.
The OpenANX project lies in an autonomous structure, which works on smart contracts so that it is always beneficial to the user. On the platform, users will be able to exchange digital assets and tokens from the gateway.
The OpenANX platform will take the strength of the existing decentralized exchange model and will improve it by linking the work exchange platform with the network, implementing a system warranty deposit, which will give the user some sort of opportunity to evaluate the risk. It will also provide a dispute resolution legal system with mandatory execution that will provide consumer protection.
What is the main purpose of OpenANX?
- Transfer exchange platforms in Asset Gateways, which connect Fiat and tokens in a transparent manner. Above the platform, it is planned to implement data integration gateways in the existing trading platform architecture. Connect an existing exchange platform to the network and apply a collateral deposit system that will serve users more liquidity.
- Credit risk trading support. The introduction of financial risk operations will provide an opportunity for gateway solvency assessment. At the same time will provide credit risk trading that allows disclose the price and market “voice” solvency gateway.
- Support dispute resolution if coming from them. Access offered to the collateral fund for cases of origin of the disputable situation provides an illegal and legal dispute resolution system to ensure much needed consumer protection.
- Unify warrants using the patented ANX International technology. For log merging warrants, on connection technology platforms of gateway liquidity and other platform indexes will be used.
- Assistance for mechanism-based decentral projects (token only). Increased user audience and liquidity of existing decentralized projects that do not have access to fiat facilities. Implementation of synchronization of peer-to-peer P2P network and foreign exchange market warrants.
- Transfer an existing ANX user base on the new platform. Coworker involvement for resource deployment ensures the number of initial users needed, and further increases the number due to the creation of a new exchange based on the OpenANX platform and the application of the technology already exists. The provision of alternative operations with classical logs thanks to the adoption of the P2P OTC mechanisms to realize the possibility of trading through a private, easy-to-control and fast channel.
After a detailed explanation of the OpenANX platform, we will talk a little about project founders who set the most important goals for themselves – to simplify the use of virtual money.
A group of business professionals, having extensive experience behind the shoulders, developed the cryptocurrency OpenANX platform. Creators provide a new kind of decentral exchange that benefits many predictable digital asset owners.
One of the founders of the platform is Ken Lo who won the reputation of successful entrepreneurs in the field of blockchain-based technology. Founder and founder of ANX International Company Hugh Madden who created most of the project’s ideas is also an employee of famous companies such as AXA and HSBC where he is involved in the design and development of protection systems. The substantial role life of the platform is played by Dave Chapman who is one of the world’s leading financial leaders who have an invaluable knowledge in technology as a blockchain and operations with the scale exchange of kriptocurrency assets.
Given the weight of the founders of OpenANX, there is experience, and the support of the crypto community, it seems, their project will be the most perfect.
The presidency begins on June 22, 2017. Over 13 million dollars sold over an hour, which is above the krausejla goal.
On July 4, 2017, the project team announced the end of the implementation of OAX digital funds. Organizers managed to sell more than 25 million coins worth more than 20 billion for 11 days. More than four investors took part in the auction. Ken Lo thanked every participant who contributed to the development of this site.
The founder of the site set a simple but ambitious goal to facilitate the use of virtual money. The site development coordination task is based on a special flare that will be created and included in OpenANX. In addition, developers plan to simplify the process of converting currencies significantly through their Asset Gatet to their cryptographic currency assets. At the same time, it provides an introductory mechanism that can emerge (if any) with the participation of external forces to resolve the controversial situation.
The OAX symbol may be changed to accept DAO membership, and may also grant rights to rights holders and returns. Additionally, bookmarks need to track service records and access their tools. Acceptable evidence will be destroyed to control further inflation. Platform access may be transferred or sold to other users. Membership will be provided in a 4-member system, participants will have voting rights, founders and third-party service providers.
- Participants Have the opportunity to use the platform to implement transaction operations.
- Voting User Participants have the right to choose a solution for the ANX platform. This decision may involve adding new functionality to the platform. With this method, decision management will be accelerated and become effective.
- Members of the Charter have the right to submit courses for debate in addition to their right to vote. This issue may take care of new business and be selected. For this reason, the builders will have a major influence on the future of the OAX platform.
- Third-party service providers: have the opportunity to serve in the ecosystem. In the process of upgrading the OAX platform, anyone with such membership will have more power and profit.
According to TASS, on July 4 this year, the project team announced the first stop on the implementation of OAX digital money. On June 22, a pre-sales indicator was launched. For an entire hour, he was able to sell more than 13 million coins, exceeding the initial target of the crowd. Within 11 days of establishment, it reached more than 25 million symbols with a total of 20 million rupiah. Characters managed to bid today in the crypto market.
The OpenANX platform integrates the asset program asset interface with the applicable consensus mechanism. It implements a completely unique concept of decentralized trade services to reduce the risk of running operations virtually and increase transparency.
In addition to decentralization, many other centralized projects are expected to have a bright future.
More news can be found on the link
Website – https://oax.org/en
Whitepaper – https://www.openanx.org/en/assets/whitepaper/openANX_White_Paper_ENU.pdf
BitcoinTalk – https://bitcointalk.org/index.php?topic=1943946
Facebook – https://www.facebook.com/oaxfoundation/
Twitter – https://twitter.com/OAX_Foundation
Telegram – https://t.me/openanxteam
Creator : Chinedum
Profile Link :https://bitcointalk.org/index.php?action=profile;u=2010004
Wallet Addres : 0x1f23fAF845C17F6Ac67054E1B2FA7e15E9c7A9B4