ONAM EXCHANGE; making a difference in the crypto exchange market

eddybless (53)in #originalworks • 6 years ago (edited)

Preface

Hello and "abadie" (my local dilet meaning "how are you") I'm @eddybless and once again I wish to share my thoughts with you my dear reader.

Have you ever wondered possibility of the crypto currency fulfilling it's vision of all round efficiency ?, or maybe reflected on whats withholding it's potential ?

I hope you have, because I do too..., the crypto currency was designed to be the most accepted and dominating mode of value storage and transfer,
Although it's wide adoption it hasn't still been able to reach it's set goals ,yes it was designed to oppose the pitfalls befalling the fiat currency but most of the problem of the fiat are reoccurring here in the ctypto ,I borrow a popular saying from my home saying that "Aneke the bird had said that since men have learnt to shot without missing, he will learn to fly without perching "

In this context I would say that since men have diversificafied to the crypto instead of fiat, problem have also deviced new means to attacking the crypto with the aim of trying to twart the exploit of the crypto.

Most of this pitfalls are mostly being felt through the crypto exchange platform , they suffer issues such as;

security , the ultimate of all

Security not only being a problem of human lives also involves it's belonging , his wealth .
one of the pitfalls of the fiat is insecutity, and this insurgence has also extended to crypto exchange platform;

crypto currency is a digital currency who's worth is felt on the software. Mostly it's exchange platforms has been the soul target of major hacks /hackers since 2011 and till this year crypto hacks has been a major threat to the crypto economy as it has lost more than $266 million dollars to security hazards in 2017 alone and also early this year, probably the first half of 2018 it has also suffered a loss of more than $730 million dollars if not mistaken, and this plague still continues

inside market manipulation

Another prevailing issue is the issue of market manipulation; this has been an issue that has prevailed a long time now and is sometimes mistaken for external infiltration .

cryptocurrency exchange are riddled with market manipulation techniques ranging from; spoofing, washing trading, mumentum ignition, pump and dump etc ....this has made it difficult for users to gain trust in the crypto.

Scalability limits

Some of there platforms are not equipped to handle bulcky tasks that my occur .
seeing the crypto currencys fast adoption /market growth for instance ,at late 2017 and early 2018 the crypto expirenced massive influx of new user traders and investors into the market and this possed the bottle necks of most of this exchange which was that of scalability.

Theses exchanges suffered overload and sneak collapsed others just malfunction halting users enrollment /participation.

Lack of regulatory compliance

Its hard to invest in something you don't have assurance in, or let's say sure of its legibility let's see this;

The mere fact that SEC is scrutinizing most crypto currency exchange ICO (initial coin offering), and other smaller projects will cautionary retail and institutional investors from participating in cryptocurrency market proves that economy is approaching a stage it will require a rigid regulatory framework to protect the investors because lack of regulation leaves potential investors with risks of scandals.

Market liquidity

I as a user am a testimony of poor market liquidity of the crypto exchange ,large gaps between ask and bids makes manipulation very very easy cus price fluctuations could occur in seconds caused by poor order books and the worst is the internal manipulation of a thing ,it's really absurd.

Lack of customer support service

How will the crypto exchange trive to great hight when most of the exchange platform refuses to provide customer with support communication system on their platforms where user can learn and certainly ask for support Where things go wrong, some user try communication with them through mails but I don't need a Vissioner time tell that those mails Are never Returned quickly or maybe at all.

Let be sincere every week. every month, every year we've witnessed Launchs of different crypto exchanges claiming to be the solution to this problem but its obvious that there aren't .

Have you ever asked;

why ?

Yes why ?

The why is because; most of these emerging platforms do not take enough time to research on solving the problems they claim to solve and probably accurate ways to resolve them, some lack professionals, in that respect I'll be discussing a project I came across not too long ago;

A group of well branded professional in the field coming together, bringing their ideas from their different sphares to jointly find a lasting solution to all these setbacks ,please may I introduce to you ONAM

I think from the name I can force smiles on your face (lol) just kidding ,yes it's a thing of joy to know that finally a solution to a problem is staring at you tight in the face

Okay lets talk ONAM

ONAM is a complaint crypto currency exchange which sees the setbacks dominating many crypto currency platforms as it aims at;

Offering the best solutions to the set back withholding the crypto exchange market
Like I had borrowed earlier, a saying by my people who say that "Aneke the bird had said that since men have learnt to shot without missing it will learn to fly without perching "

When one door to theft closes ,cyber criminal work tirelessly to create other means of infiltrations .so without close and conscious monitoring most threats to security would be realised to late and this one of the reasons it seem security Issues are always never resolved .

ONAM being able to realize this tactic now takes security as a priority developing it own proprietary "Advanced threat prevention intrusion dictation and trade surveillance system", which are powered by machine learning along with encrypted database to security their platforms. This technology will help detect any form of irregularities/security threat in advance.
It also implementes industry standard DDoS Mitigation, anti-phishing and 2FA solutions, this on their definitely to regaining customers trust on the crypto and ensure optimum Safety to their funds

With ONAM scalability problems is eliminated

ONAM operates with the belief that "if scaling is not fast ,then it's just too slow " so ONAM extends it's scalability umbrella such that it outperforms other exchange platforms. ONAMs engineering team has made ONAM flexibile and competent that it's able to withstand heavy loads as much as 10 million transactions per second and latency as low as 40 nano seconds.

This is accomplished by utilizing Golang programming language designed by google which was specially created fir computationally intense servers application

Zero market manipulation

ONAM with the aid of machine learning, it's real time market surveillance, supervision and compliance system monitoring closely for suspicious trading activities the ONAM system analysis pre-trading and post trading data, if there is a threat of mallicious activities such as unusually large trade, pass-through trades, wash trades, spooting layering, stuffing, hammering front running momentum ignition and what have you....

All these features make market manipulation almost impossible.

Customer care/support

ONAM plans on offering a 24/7/365 live customer support. ONAM plans on implementing chats with Multiple languages so this can widen the array of customers that will be successfully reached.
Here comon issues can be addressed within 15 minutes via a support ticket information also tells that phone service will also be available within the first 6 months of launch.

Improved Liquidity

The. ONAM team is committed to attracting a large market volume traders and miners through incentives an order books from multiple exchanges as this will help solve the high slippage and market manipulation problem brought about by poor liquidity other exchange are facing, thus enlisting books from multiple exchanges .

compliance

License are necessary for initiating publice offering and ONAMs top legal representativeare all informed on the current position regrading SEC and it's view of ICO activities; unlike other platforms ONAM believe that the key to attracting new retailers and institutions is to become fully compliant to ensure transparency and earn confidence of the masses

ONAM platforms features

At this juncture I would still love to give a summarized run down of ONAM's core features and it's driving force ;

Advanced Order Types
Margin Trading & Lending
Composite Index Fund
Paper Trading ,Auto-Trading
Modular User Interface
Trade Assistant with Trade Alerts and Signals
Social Media and Sentiment Analysis Tool
Market scanning & condition forecasting
Trading Expert Coaching
Push Notifications, News and Announcement Feed
OTC Trading and other Affiliate Program
Advanced Charting /Multi-Language User Interface with Prefered language as an option
Multi-Language 24/7 LIVE Chat Support
FIX Server for Institutional Traders
Advanced and Custom APIs

exchange fees

Another feature ONAM is known for is it's exchange fees , ONAM also is the most capable , price efficient and petronised exchange platform. This it does by enabling all kinds of users with all the required infrastructure to archieve optimum exchange .
A brief study of the image below will explain that better; showing the difference between ONAM and some other "top" exchange platforms as well as their exchange price difference

Use case

Eddy is a business conscious individual who never let's a opportunity pass by, he has a philosophy of success that "one most invest to harvest " .
Eddy lived by his beliefs till a day he met his fears;
fraud!!!
Eddy as an investor had just one fear; which was loosing his investments to fraud, and above all, this fraudulent act was internally manipulated and this brought Eddy to a break down stage , he lost faith in his success principles and began to fade away in the business world .

soon came the the trend of the crypto currency his business associate introduced bitcoin to him and Its possibilities , it's security, etc.... and was encouraged to invest once more
Little did did he know that he was also being lured to another lose once more to cyber criminals as he was hacked during the process of making exchange ,he wept and was greatly brook after this sad encounter .

If he made use of ONAM it would have been certain that , that cyber theft would have been noticed before it was able to finally reach his native account and he would have otherwise had a customer support medium to run to immediately the scandal occured atleast to see of some promt action can be taken to retrieve the funds.

ICO schedule and token sale details

team &advisors

here is my video presentation hope you find out it interesting

Conclusion

It might interest you to know that ONAM currently supports the trading/exchange of 25 different cryptocurrencies at the time of the initial launch. However, it is certain that this will expand during the next weeks after the launch of the platform.Like said in my video presentation, knowing about ONAM isn't been a regrettable experience ,I hope it hasn't.
ONAM is a platform that will make a distinctive change in the crypto exchange market place considering it's overall features. There is more to learn about ONAM just see below, there are some guides to help you
images are sourced from ONAM whitepaper