OTN Exchange — Guaranteed interaction between Blockchains

The team at Open Trading Network (OTN) are on a mission to overcome crypto-trading market frictions for investors. The OTN platform is the first 100% collateralized, decentralized exchange allowing fully secure exchange between blockchain networks. Let’s take a look at the features OTN exchange offers investors in fulfilling their core mission.

Overcoming the Hurdles

Investors in the cryptocurrency market have faced a frustrating problem in trading these past two years — namely, having to surmount many hurdles to trade cryptocurrencies against one another.

In the past, this process has often been slow due to various system backlogs and excesses of paperwork. Crypto-market participants have had no choice but to sign up to various different platforms and exchanges to trade across different blockchains. This usually involves going through numerous cumbersome verification and sign up processes and also adds to the risks for investors — with accounts and wallets open in more than one location.

A Ground-Breaking Solution — OTN.x

Taking a revolutionary step towards providing a holistic environment for all crypto trading and investment needs, the Open Trading Network has developed the ground breaking OTN exchange (OTN.x) solution which is set for release in only a matter of weeks — in April of this year.

These are some of the valuable benefits on offer to users:

1. Quick Orders

In just one click, the OTN exchange will provide the highly demanded facility to exchange investor assets between different blockchain networks through tokenization. The speed is optimised through the use of the OTN central matching engine — which has been specifically developed to enhance speed as well as integration with external networks.

2. Guaranteed Orders

Not only that, but the orders are guaranteed by OTN — a reassuring, never before seen, innovation from the platform. The platform provides guaranteed cross-exchange transactions, which are backed by a pool of real tokens. This gives OTN the power to offer tokenization of all crypto and publicly traded assets as well.

3. Transparency

The decentralized exchange will be partly powered by centralized matching engines and will maintain the historical data and records of transactions such that the data is robust, accurate and crucially, unforgeable. This gives investors confidence and security in using the exchange.

4. Convenience through Connectivity

Exchange transactions can be conveniently made from either the OTN wallet or from external interfaces through a public API that connects easily into OTN. This means that the OTN exchange can be the choice for investors even if they wish to hold their cryptocurrencies in an external wallet.

5.Derivatives

The OTN exchange will provide tools that allow traders to customise standard derivatives contracts — such as options, CFDs and futures contracts — allowing investors to flexibly structure their portfolio positions.

6. External Connectivity

The goal of OTN exchange is to implement guaranteed cross-chain interactions between systems outside the OTN network. As an example, investors will be able to exchange BTC for ETH with guarantees provided from inside the OTN platform. The exchange will support all major cryptocurrencies through simple standardised integration interfaces. This means OTN.x can perform validation functions in third-party networks — further expanding the potential applications of OTN platform features to users.

7. Security Enhancement

The OTN.x technology can be used to perform validation functions in third-party networks through a network of distributed monitors. This idea can be extended to any decentralized validation process with guarantees from OTN. For example, it can even be used to validate external Market Data channels or document registries. The long-term goal is to become the standard for exchanging assets between any systems — all protected by the security guarantees of the OTN ecosystem.

Overall, the OTN exchange has been designed to overcome a number of drawbacks investors currently experience in the crypto asset market. OTN exchange will help create quicker, more secure, trading and exchange transactions — with guarantees to enhance investors’ peace of mind. It also leaves more time and energy for pursuing new opportunities.

Warning: Investing involves a high degree of risk. All tokens are provided by the OTN foundation and the activity is non-commercial

Source:

1. https://iqoption.com/lp/vendor/resources/docs/en/Open-Trading-Network-white-paper_en.pdf

2. https://otn.org/

OTN Exchange — Guaranteed interaction between Blockchains was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.