The Open Trading Network (OTN) is the first decentralized exchange that provides users with fully secure exchange transactions between the different blockchain networks. Developed by the OTN foundation, the OTN exchange is creating new benefits for the crypto trading marketplace. Let’s take a look at how OTN differs from its competitors.
OTN has been designed specifically to offer a cross-chain solution that enables transactions across different blockchains. Other exchanges lack cross-chain technology — creating many frictions and hurdles in trading different crypto assets. In OTN, users will be able to trade any assets within one ecosystem with insured ownership rights. OTN specifically overcomes cross-chain trading challenges such as avoiding extensive paperwork, software installations and excessive commission fees.
Development of the OTN project has been funded by the reputable and well-regarded trading platform IQ Option*. No public fund raising has been required — demonstrating the genuine motives of the OTN development team towards improving the crypto trading environment rather than grab for external capital. Many competitors in the market place are seeking to launch and develop platforms through ICO — drawing in external capital, sometimes motivated by profit-taking over strategic purpose and in certain cases leading to unnecessary risk taking with investor capital.
Whilst certain competing networks have undefined roadmaps for the future, OTN has worked closely with the well-established existing IQ Option trading platform team — and it’s 20 000 000 user base — to identify the most valuable requirements crypto traders are seeking from their exchange and platform.
The OTN system has been developed such that crypto traders receive OTN tokens as a free reward when trading cryptocurrencies and cryptocurrency CFDs on IQ Option. These OTN tokens can then be converted to OTN coins at a ratio of 1 to 1 and used towards payment for future commission for trading cryptocurrencies on IQ Option. Users are also given the option to withdraw the reward OTN tokens they have received to their crypto wallets so that they can sell them on exchanges as they wish. In addition, OTN coins can be used to pay for transactions in the OTN network. In each case value is created for OTN token holders in a specific way.
In the fast-growing world of crypto assets and technology new companies are cropping up at accelerating pace. In some cases, development teams are small. In other cases, the details of the development team are vague. OTN, on the other hand has a development team with over 550 professionals behind them — with an impressive 43% of them being developers working on the trading platform.
OTN has been designed to expand liquidity considerably compared to other trading platforms.
OTN provides guarantees of trading, ensured by the design of the OTN network, allowing users to perform transactions quickly and reliably 24 hours a day, 7 days a week. In future, OTN will be sharing its API with other exchanges and brokers, further enhancing liquidity within and across the network.
Warning: investing involves a high degree of risk.
*IQ Option is a brokerage company and does not provide OTN tokens to clients. All tokens are provided by the OTN foundation. The OTN foundation confirms that it does not sell OTN tokens and that the activity is non- commercial.
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