Published on June 24th, 2017 | by olcaytu2005
Last Chance to Invest in openANX ICO: A Decentralized Exchange.
openANX crowdsale has begun on 22th of June. I’ve talked about the details of the platform and it’s benefits to it’s opponents. Since the Consensus 2017, openANX has caught a lot of attention. Almost everyone on cryptoscene is aware of the fact that centralized exchanges are not safe and they need decentralized alternatives. Visit https://www.openanx.org/ now to join the ongoing crowdsale!
openANX crowdsale has already sold 22,043,534.73 OAX as of this moment. Roughly 8 million tokens left and I assume it would be over next week. Below is a summary of openANX platform and I hope you decide to invest in this well organized project.
What is openANX?
The OpenANX platform, launched under the slogan of “Real world application of centralized stock exchanges,” offers its users an open source brokerage experience. It mainly uses Smart Contracts of Etherera BlockChain in OpenANX infrastructure, a DAO (Decentralized Autonomous Organization). Open ANX uses intelligent contracts to solve the problems previously encountered by central and undersized exchanges.
We can list the important components of OpenANX as follows:
Open source structure
Transparency in management and operations
Participant entrances (other central stock exchanges and asset [token] providers) have collateral in BlockChain
Providing liquidity and transaction volume with clustered order books
Use of both nominal and digital money
Predefined dispute resolution system
Voting procedure and a centralized, publicly traded stock exchange service
OpenANX basically integrates existing stock exchange platforms into the system as ‘asset gateways’. Every asset leaves a margin to the smart contract and this guarantee is processed in the blockchain. Investor assets to be traded from the asset crossings are seen by the collateral of the crossing and the risk appraisal accordingly. At the same time, the investor can also make a risk assessment from the clustered order book. The central stock market risk assessment problem is thus overcome in OpenANX and investors can exploit the price this way. Normally separate order books of asset passages cluster in a single book to provide liquidity and money flow. When the user enters the system, they will see a single order book. The problem of liquidity and transaction volume of central stock exchanges is thus overcome.
In addition, one of the most important features of the OpenANX platform is the use of both nominal and digital money to provide investor liquidity. Let’s assume ANXUSD for the ANX, which is the token of the asset responsible for the money. These nominal currencies (dollars, euros) are held in asset gates and are printed in the blockchain with an ethereal token (ERC20). Another crypto coin (say, acme) has an ACMEUSD token. These money order books are in the form of ETH / ANXUSD and ETH / ACMEUSD. In case the investor requests to process or a credit risk order is received, the book that the investor will see is ANXUSD / ACMEUSD. The system presents a single order book to the user, separately showing order books for currencies.
But there is a small difference between nominal and digital money usage. A person who wants to make transactions with money, in most cases, has to be in compliance with the KYC (Customer Identification) and AML (Money Laundering) laws. Whenever it is desired to do so, the compatibility steps with these rules will appear in front of someone who wants to process the smart contract. There is no such procedure when operating with virtual money.
One of the most important dynamics of the system, the conflict resolution system, is provided to third parties outside the chain. This leads to better protection of the customer. On the other hand, at the end of the dispute resolution process, the collateral fund locked in BlockChain is opened and the customer payment is made with this fund.
All information in the system is processed through through smart contracts and is open to all users. The system is transparent and equal to everyone. The central stock market confidence problem is overcome in this way.
ANXInternational will transfer the existing user base to the OpenANX platform and they already have diversity of customers that should not be underestimated. ANXInternational aims to create a consortium with new stock exchanges and existing stock exchanges on the platform that want to move on to the platform.
To invest in openANX please visit: https://www.openanx.org/