ONEPAGEX: A DECENTALIZED CRYPTOCURRENCY SINGLE PAGE EXCHANGE PLATFORM

INTRODUCTION

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HISTORY

The idea of creating a digital online ledger secured by encryption has been in existence even before the invention of bitcoin. This idea lived for about 10 years and are referred to as the pre-bitcoin era before the mysterious Nakamoto developed the first ever successful crytocurrency named bitcoin. Bitcoin's introduction was in 2008 but it became fully fledged in 2009. Bitcoin entered into market and serve as the alternative currency as it isn't backed by government reserve, so it isn't a legal tender. After bitcoin, other digital currencies started adopting the idea behind bitcoin to establish their own currency as well but till date, none has been able to go head to head with bitcoin, examples are,Ethereum, litecoin, onecoin. . Most crytocurrency are finite I.e a limit has been set to how many can be in circulation which is why many have predicted the fall of bitcoin in coming years. Even though most started with ICO, Soon after creation, exchange was initiated.

OVERVIEW

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What is cryptocurrency exchange?

Crytocurrency exchange is the process whereby conventional fiat currency or other digital currency are exchanged for one another. Exchange is done in two ways. For those who wants to convert their digital currency to fiat money and those that wants to convert to another Cryptos.

There are two types of exchange mediums:

Centralized Exchange:

This is the process whereby crypto currency exchange by users of the platform are done in accordance with the principles of the centralized body. This method of exchange has experienced lots of security attacks and has been the most vulnerable method of exchange to cyber crimes.

Decentralized Exchange :

This is what the blockchain is built upon and why it has experienced limited forms of attack compared to the centralized form. It is not controlled by an individual neither by a board. It is controlled by those who use it and that's the public. There have been attacks, but are 80% lesser than that of the centralized method.
Even though the centralized form is probe to attacks, it still remains the most used form reason being that they offer more liquidity and are easy to use in term of navigation.

Issues with crytocurrency Exchange:

Security :

This has been the major setback in the digital currency market. Currency lost was recently estimated at over $4.4billion, all as a result of activities from sophisticated hackers and other cyber crimes. Not Until the security of the coins are effortlessly protected and curbed will some individuals adopt the use of crytocurrency as a means of exchange.

High Trading fees:

Focusing on bitcoin transfer, someone uploaded on his blog that he exchanged bitcoin for a fee of $28. That's a lot. Most exchange charge 3% of what you want to exchange as trading fee. This makes people to hold their coin for a very long time till it reaches a profitable state that even if high trading fee will be charged, they'll still profit massively from it.

Liquidity :

This is very prominent in decentralized exchanges where limit will be placed on the amount of coins that can be transfered or exchanged. Unlike centralized exchanges where "limit order" is almost infinite depending on how much you posses.

Most exchange organizations are working towards integration and refurnishing the method of exchange,people now look forward to seeing an hybrid organization that offers both centralized and decentralized means. One step furthered development just entered the industry.

They aim at reducing the rate of people who get tired because of the time it takes to finalize an exchange as well as high transfer fee issues.

I give you OnePageX !!

ABOUT ONEPAGEX!

OnePageX is a decentralized exchange platform built on the idea that the first step to stopping cyber criminals is to speed up the transaction process. OnePageX, as the name implies (OnePageX Exchange) is an exchange platform that allow users to carryout the exchange of their digital currency on a single page. It is user friendly and carrying out transactions on a single page ease navigation and saves time and resources. Also, transactions on OnePageX is carried out without the need to register nor sign in which is needed to make use of other platforms. All that is needed is to enter their website and choose the coin you wish to exchange and start the exchange process effortlessly.

It remains by far the easiest exchange platform available for use out there. Also, with OnePageX, transaction fee which is set at 0.5% while other subsidiary fees are clearly shown on the page. The digital currencies available on OnePageX amounts to over 140, which remains the largest number of digital currencies available for exchange on a platform I've seen in recent years.

Having a wide selection of digital currencies of over 140 means users can choose from the many available. OnePageX currently supports exchange between bitcoin and other Cryptos. That means you can change from bitcoin to over 140 others currencies. They look forward to listing STEEM on their platform as well in coming years. Most coins on their platform are new to the market and this will help those coins to gain recognition, if exchange can be done with them, It will go a long way in assisting the coins to gain mass adoption and promote the OnePageX's page to gain more visit from early crypto adopters.

How the transaction on OnepageX is done.

The first step is to create a transaction card. This will enable you to know the state of the transaction you're carrying out. This card will contain your bitcoin wallet address and the address of the receiving coin to start initiation. It'll take some minutes to deposit, as shown below.

After those minutes elapses, the bitcoin then awaits confirmation from the blockchain for verification/attestation purpose. It is shown below that there are two more confirmations to
successfully complete transfer .

Exchange gets verified and withdrawal should begin. A pending withdrawal is shown below because acceptance of transfer by the receiving account hasn't been confirmed by the holder.

The last image shows the completion of the withdrawal process and that ends the transfer process after required fees had been paid. The complete transaction usually takes about 25 minutes excluding other Internet issue all on a single page .

OnePageX also support multiple transfers on a single page. When a single transfer is completed before 25minutes, this means another transfer can be carried out simultaneously or when one is waiting for confirmation, another one can be initiated. Multiple transaction are added in form of cards so that when created, you can come back and use them. For example, exchanging bitcoin for Ethereum and bitcoin for litecoin and bitcoin for monero all at the same time and on a single page with separate transaction cards. This is to save time and resources of the exchanger. Also to allow this that are time conscious to adopt the use of the OnePageX platform.

OnePageX has a widget that websites can implement just by copy-pasting a snippet! This will allow websites to provide their users with the ability to do quick cryptocurrency exchanges!. The widget is called OneBox ! The OneBox works just like the OnePageX page, but within the widget.
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USE CASES :

• Robinson is a crytocurrency trader. He has to wait for hours for an exchange to be fully successful which limits the number of transactions he carries out everyday as the platform he uses to carryout exchange has a slow server. He heard about a platform that offers faster server and also allows him to make multiple exchanges on a single page. He couldn't say no to this opportunity as it will go a long way in reducing the time it takes for him to complete a transaction as well as increases the number of transaction he gets to carryout per day.

• Mary is a crypto holder and a future predicter of digital currencies who have the potential of landing big cash in the nearest feature. She has just bitcoin and Ethereum and has alighted numerous new coins she wishes to purchase but she couldn't raise enough cash. She read about OnePageX on reddit and decided to check it out. Mary has exchanged over 70 different new Cryptos for a little portion of the bitcoin she possesses. She can now sit and watch them rise like she predicted. All thanks to OnePageX who offers exchange with more than 140 different coins.

All pictures left unsourced are derived from the website and are allowed to be used for the contest.

Thanks for reading.

This is an @originalworks writing contest. For participation click [here](https://steemit.com/crypto/@originalworks/1250-steem-sponsored-writing-contest-onepagex-com]

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