Introduction
The new era is gradually approaching and thus era as to do with the financial system. But this new development is with respect to digital currencies. Many companies, agents and people are gradually promoting this currencies by investing in it and also blogging about its attributes. This shows that a new phase is coming for the next generation to have a true and perfect adoption of cryptocurrencies. But unfortunately, before we think of adoption, have we ever thought about the inevitable systems that would be used with it, systems that makes Cryptocurrency flexible and being able to be traded. Thus, the need to analyze systems or platforms that will definitely be needed for its adoption is very necessary. For example, the exchange platform in which currencies are being bought and sold experiences a lot of challenges that will scare away new users from enrolling with Cryptocurrencies. This discouragement will contradict the new era of cryptocurrencies in the global economy.
As pointed earlier about exchange site that are not still suitable for the gradual development of cryptocurrencies, its is necessary to highlight the setbacks faced when working with most exchange site presently. These challenges are:
Poor Security Measures: it was recorded that over the past few years over 250 million dollars was lost in Cryptocurrencies as a result of hacking and it has been predicted about more and more hacking to occur has Cryptocurrency gains ground in the financial system. This is one of the most important challenges that needs to attended to.
High fees attached: he fees attached to trading Cryptocurrency is outrageously expensive. This has discourage people from purchasing currencies from exchange site and prefer to buy from people tgorugh their wallet ID. This cost ranges from 0.75% and above which is almost a unit of the currencies been purchased. With this, new investors and users of cryptocurrencies won't find it convenient to hit their various targets.
Scalability Problem: This setback limit many exchange site where the transactions that is been made per second is very low. With the maximum increase of crypto investors, these exchange site might experience serious glitch because of its overload of transactions as a result of increasing users.
Non Support and assistances for users: over exchange site don't render complete service of support to users of their system. They are never fast with feedback concerning issues projected by their users. This challenge has made people to forfeit membership to different exchange platforms and finally to even Cryptocurrency.
No Compliance in Regulations:
most exchange site lacks prooer regulations with respect to their licensing, initial coin offerings and several similar projects. This non compliant regulations will misdirect new investors and users of cryptocurrencies.
From the above challenges, it is quite obvious that a change is needed and that change is endowed in an exchange podium that is significantly different from the others which is called ONAM.
Security: Many exchange site has been a victim of fraud and hacking due to low level of Security. But Onam has its own security pattern with other popular security companies like DDos mitigation and 2FA security. Ona Operates in its own security solutions which detect any interaction that is irregular in the system. These measures are trade surveillance, Advanced threat Prevention and Intrusion Detection.
High level of performance per second: unlike other exchange platform that performs low transaction per second where only 1.5million transactions per second can be successfully completed in some exchange site. But in Onam, 10milkion transactions can be done per second. This shows how powerful Onam matching engine is. With this number of transactions per second, users can have a smooth and non breaking completion of transactions.
Customer adequate support from the system:Onam is fully available to respond on issues customer face in the system where there is a live chat that is on 24/7 for customers in different languages. This live chat is known for a quick response to any challenge face by users of the system. This is one unique feature of Onam that distinguish itself from other exchange.
But fortunately, this Ken company had a meeting with their neighboring company, and this company is involved with Cryptocurrency. During the meeting a complaint was addressed by the ken's company to the other company concerning the charges incurred in purchasing Cryptocurrency but this neighboring company gave them a solution to that and it was Onam platform.
With Onam, ken's company can purchase as much as bitcoin it can since the charges are outrageously low. This made the management of kens company to have interest in bitcoin once again.
Case 2
Job was highly disappointed about his loss of funds in his account. This made him not to join any thing that has to do with Cryptocurrency because he believed that it wasn't all that secured like most exchange site complained.
But when Onam came into the system, job read about its whitepaper and found out about Onam very Own security property. He became confident in exchanging cryptos again.
With Onam, job funds are safe due to their security property of trade surveillance or Intrusion detection. This regulates activities that doesn't corelate with the system before affecting users account.
From the above image, Onam is best to work with based on the fees charged, transactions per second and many other features.
In Conclusion, Onam is already ahead of most exchange sites due to its characteristics. With its properties of Security adequacy, customer support and many more.
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