The cryptomarket has seen a pushing increase over the last few years,by the start of this year the total market cap of every cryptocurrency advanced to an estimated value of 1 trillion dollars.Many exchange platform were unable to perform transaction effectively and fast due to the absence of mass adoption.As it it now we are still at the early phase of mass adoption and many exchanges platform are already failing,yet there are also greater challenges to be seen in this sphere. Most exchange platform are not equipped with the demanding need of future exchange features crucial to an effective exchange by retail traders and institutional traders.Heavy traders and small scale traders will benefit largely from the exchange Onam platform.

Here are a few things we are going to be enlighten about in this article about Onam:

• The problems plaguing the current exchange system?
• What is Onam?
• what are some core features of Onam?
• why is Onams aim to compliant so important?
• How will Onam low fees beneficial to crypto traders?
• What is the impact of Onam colossal scalability?
• How will the dedication to customer service increase customer experience?
• What are some use cases of the Onam platform?

Challenges of existing crypto exchange

The present crypto exchange system is not free of challenges here are some of the challenges of that these exchange platform experience:

Insecurity

The issue of security breach has grown at a very alarming rate.Over the years many exchange platform has been victimized by hackers who make away with millions of dollars worth of assets.In 2017 alone crypto exchanges lost an estimated amount of $266 million dollars to security breach on the exchanges,In the first half of 2018,major exchanges has already suffered a significant loss of $731 million dollars.The scale of these attacks has only increased in recent years.However experts also predict more security breach on exchange platforms making the need for an uncompromising,breach proof exchange that will assure investors of the safety of their assets.

Poor Scalability

Trading volume among exchanges has taken a sonic rise,exchanges that operating under the old mechanism are often overhauled due to the number of transactions carried out within these outdated matching engines.This issue is one of the major reason crypto currency hasn't moved forward into mass adoption due to its very low transaction speed.Most exchanges operate under the range of 2 million transaction per second,which is not fast for heavy transactions processing at the same time.Most major exchange have had to stop accepting new investors due to the overload of the transaction systems for weeks.truly the issue of scalability is a problem yet to be solved.

Market Manipulation

The amount of market manipulation that exist in the crypto market which is already volatile is one of the major reasons institutional investors close the door to the crypto market.The US DOJ opened a criminal investigation concerning crypto currency market manipulation is another undeniable reason that market manipulation is quite an issue in the crypto world.Techniques used by these manipulators include spoofing,wash trading and momentum ignition to pump and dump,experienced traders and amateurs are also deceived by these techniques,making it difficult to gain the trust of the masses.

Poor customer Care and Support

Team

Advisory Board

For more information visit the links below

Onam Webiste
Onam whitepaper
Onam Telegram
Onam Reddict
Onam meduium
Onam LInkedin
Onam Instagram
Onam Bitcointalk
Onam Twitter

The images and pictures used in this contest was gotten from Onam whitepaper and website.

This contest was organized by @originalworks,Here is a link to the contest

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