The OAX foundation aims to and address their four main shortcomings: speed, scalability, interoperability and trust.
By doing so, the openANX platform will take advantage of technical developments on the Ethereum blockchain such as payment channels (including Raiden3, 0x, Swap, ERC-204, etc.) and utilize them to overcome the challenges faced by the current centralized exchanges.
It will link existing exchange platforms as asset gateways to the openANX platform and enforce a collateralized deposit system that will provide users with a way to measure risk. The platform also provides an off-chain, dispute resolution system to further enhance consumer protection.
The openANX token (OAX) is an ERC-20 token that serves as the fuel for all services within the openANX ecosystem.
A Real World Application Of Decentralized Exchanges.
May 21st, 2020