OKEx Crypto Exchange Adds Cardano (ADA) Cryptocurrency Trading Options
Introducing Cardano Onto OKEx Exchange Platform
Many cryptocurrency exchange platforms exist in the market nowadays. Among them is OKEx, which is ranked as the second largest regarding market volume occupied. OKEx exchange platform provides financial services to traders who use blockchain technology anywhere in the globe. Since its introduction in 2014 by Star Xu, it has provided several tokens that help in optimisation of strategies gained by several traders.
On July 20th this digital asset exchange platform announced the introduction of new features in its platform. The features are:
- ADA Tokens
- Hycon Tokens
- The native digital coin to be used by Cardano blockchain.
The move to introduce these features is viewed as a way of OKEx gaining a competitive edge over its competitors like Coinbase. The move also is seen as a way of bringing new hope to people who have invested in OKEx.
Before OKEx introduced ADA into its platform, the Tokens were being traded in ten other exchange platforms. These were:
The use of Cardano coins has been praised as a major achievement in the field of cryptocurrency. These tokens have been in existence for a small amount of time, and they employ a very sophisticated technology. This pace at which it is being injected into exchange platforms is extremely impressive.
Cardano uses a recursive internetwork architecture (RINA) to develop its currencies. Also, it makes use of a programming language known as Haskell. The growth of Cardano is associated with the fact that it is fault tolerant. This has made it even to be posted on some global exchanges.
Cardano’s latest version is the Shelly, which is to be unveiled in early 2019. Shelly will introduce elements that will be vital in developing a more decentralized and secure Cardano network. Cardano is ranked eighth in the global exchanges with a market cap of $4.57 billion.
The Cardano community intends to release Cardano 1.3 and Cardano 1.4 before the end of 2018. The update will enhance a more diverse network. This update will also see the price of Cardano rise significantly.
The addition of ADA is not only allowing users to trade with top 10 cryptocurrencies in the world, but it is also winning the race for OKEx. This has seen Coinbase, the largest exchange platform in the US, exploring the option of adopting ADA coins in its platform too.
OKEx intends to expand its operations from Hong Kong to Malta, a country which is becoming the capital of blockchain technology. This is because Malta allows ADA platforms to carry on with their businesses legitimately unlike Coinbase which is regulated by the US and other nations.
Recently, OKEx was given the green light by FINRA and the Security and Exchange Commission to look for three firms and a federal network so as they could be able to work as a broker-dealer.
This blockchain project is working towards the creation of an open data stream. The stream will allow private companies and individuals to contribute towards the powering of Industrial Revolution 4.0. Additionally, it intends to create a new standard that will be adopted by all manufacturing technologies.